Most graduates finish college with multiple loans, from federal to a combination of federal and private student loans. Depending on which loans you took, you can face managing repayment to a number of lenders each month.
It's a great question, and you should start by really understanding whether you have a healthy level of student loan debt. Then, even though there's no "right" answer for every scenario, you can choose from a few different options in order to make the best choice for your personal situation.
There are various reasons for dropping out of college, including family issues, having kids, needing to work right away to support a family, or pursuing a trade or other career options that do not require a college degree.
As we fight our way back from the recession, it's clear that our economy isn't working for everyone. Too many don't have the skills they need for the jobs available. As a union, the AFT takes on these issues. This work isn't loud or provocative, but it's vital for our communities and our nation.
If you have a federal student loan, you may be curious about your repayment options. Luckily, federal student loans are most beneficial to those needing repayment assistance; the majority of these plans will help you lower your monthly payment at the expense of extending your loan term several years.
If you have graduated from college and have thought about consolidating or refinancing your student loans, you may be wondering what possible interest rate you can get. If you are still in school and need a private student loan, you may find yourself in the same situation.
While there are numerous programs available for federal loan forgiveness, there are not many options for private student loan forgiveness. Students who have taken federal loans have more flexible terms due to the loans being connected to the government and, therefore, connected to public sector forgiveness opportunities to help aid career shortage regions.
Finding the right private student loan for you will help you fund your college degree with the best terms and with the lowest interest rate possible. Many students turn to private loans after they have exhausted all of their federal options.
The day has finally come - you have been accepted to college and cannot wait to start working on your degree. The only thing that stands between you and your future is figuring out how you will pay for the hefty price tag that comes with a college education.
Student loan deferment, putting a pause on payments without facing penalties, is available to borrowers under special circumstances. In certain times, deferment is necessary to stay afloat financially.
Student loan debt will be a key issue in the 2016 presidential election - and it should be. The $1.3 trillion in student loan debt has become a defining economic factor for students and graduates across the country.
The repayment period is set at 20 years. Any remaining loan balance after the 20 years is forgiven. A benefit of the PAYE repayment plan is that you make lower monthly payments.
Here's the catch: the big textbook publishers that are charging $200 a book don't want students to buy used textbooks -- it means less profit for them.
Nearly all student loans have options to defer payments while attending college; however, making payments on your student loans while still in school can save you thousands of dollars just by the time you graduate.
Many young adults throughout the country take on large sums of debt in the form of student loans before they even enter the workforce, which then suddenly seems like an enormous burden to pay off once they graduate.
Partnering with the organization Pencils of Promise, which provides education to underserved students in developing countries, CommonBond funds a year of schooling for a child abroad for every degree fully funded through its platform.