Even before taking out student loans, you should come up with a plan for repayment. Figure out how much you are borrowing, how much you will be earning, and what your best option is. This is where budgeting comes in handy. Paying Student Loans While in School The average student loan debt is rising, as […]
If you’re thinking about taking out a private student loan for college, chances are you’ll need a cosigner to get one. Very few students meet the qualifications for securing a loan on their own, so getting your student loans with cosigner may be a necessity. In fact, “more than 90 percent of private student loans for undergraduate students…require a creditworthy […]
To get a private student loan, credit is a critical factor. If you’ve shopped around recently for private student loans, you’ve probably found out that you need a healthy credit score, or a cosigner with good credit, to qualify. Are you wondering do student loans affect credit score? There are a variety of factors that are considered, including your payment […]
When you graduate from college, you may find that you have multiple student loans, such as federal, private or a combination of both. It will be your responsibility to know when the grace period on each ends and repayment begins. If you are well-organized and have kept up with your lenders, this should not be an issue, but […]
There’s been big news in the student loan-isphere this week, ladies and gents. According to Forbes.com, there are a lot of changes happening with student loan lenders. The number of lenders has been skyrocketing due to the introduction of student loan refinancing a few years back, and the increase in lenders has lead to an increase in options. Borrowers now […]
President Barack Obama announced that some significant changes are being made to the FAFSA (Free Application for Federal Student Aid) in hopes of making it an easier process. Anyone who has filled out the FAFSA can tell you that once you reach the third or fourth page and it starts asking for your driver’s license number, parent’s […]
When it comes to student loans nothing is straight forward, which is why it’s important to stay informed and fully understand the small print, so here are 6 things you should know about your student loans. Student loans come with a lot of work, a lot of paperwork, and a lot of fine print. There are […]
Good news, everyone! Student loans just got way easier to pay off. There’s a new plan in place that’s going to help a lot of people pay down their student loans successfully, without breaking the bank in the meantime! The goal of the plan is simple: put a cap on the maximum percentage of income […]
College is an expensive investment, so finding ways to increase your savings during the years leading up to it, as well as during it, is a must. There are traditional methods, such as 529 Plans and prepaid college savings accounts, which offer you the ability to make contributions over several years, but you shouldn’t limit your saving […]
For many consumers, the most readily available source of credit can be found right in their wallet. We have credit cards for general uses, loyalty, gas, and merchants. Some of our general use cards, like a bank-issued Visa or MasterCard, may even have a fairly high credit limit. With such easy access to financing, you might […]
Participation in Student Loan Assistance Act: An Illinois Congressman Hopes to Help with Student Loan Debt Employers across the USA have started creating programs to help their employees pay off their student loans, but Illinois hopes to take it all one step further. Big news on the student loan front: an Illinois congressman is aiming […]
You may have heard that the Federal Reserve raised their interest rates a few weeks ago. So, what does that mean for your student loans? After a long and trying debate, it was finally voted into effect: the Federal Reserve decided to raise interest rates. It’s been nearly a decade since the last time interest rates […]
Student loan holders, check your emails and your mail boxes! A form might be coming your way that could save you some money! Student Loan Interest = Tax Deduction? Private student loans = Tax Deduction? Student loan interest, in some cases, is tax deductible. As we head into tax season, some student loan providers will […]
When paying off your student loans, there’s one thing you don’t want; late fees. Late fees can throw off your budget, delay future payments, and ultimately increase the buildup of interest, costing you more money in the long run. Often with the complexities of lenders, students might miss payments through no fault of their own […]