If you are unsure if you meet the requirements to reduce your interest rate and simplify your repayment a private consolidation, here is a checklist of items from Credible on how to get the best offer possible.
We, just like Victor Frankenstein in Mary Shelly's great novel, had all good intentions. Increasing college access and affordability for students less able to pay, by making federal grants and low-interest loans available, seemed like the right thing to do.
At CommonBond, we get a lot of questions from student loan applicants who are concerned about how applying for a loan will affect their credit.
As "Pomp and Circumstance" plays on graduation day, you'll probably reflect on how much you learned in the classroom and the successful career college has prepared you for. But chances are your school didn't include real-world financial tips for new grads as part of its curriculum.
When it comes to saving and investing for retirement, many recent grads opt to put it off in favor of repaying their loans first. Between living expenses, student loans, and recreation, it's tough for young adults to find any money left over to invest in their future.
If college doesn't guarantee you a job, why go? There are some people earning more money who never went to college. They aren't left with the burden of student loans, but I am. As for me, I'll be paying mine for the rest of my life.
More than 700,000 U.S. households headed by people 65 and older are living with student debt. According to a 2014 report from the Government Accountability Office, these older Americans still owe more than $18 billion in student loans.
Knowing how to calculate student loan payments is important for your overall financial stability. If you understand how interest is calculated over the duration of the loan period and how quickly it can add up, you might be able to save some money in the long run.
Student loan interest rates are outrageous. At a time when the government can borrow for 10 years at 2.25 percent, it is forcing many students to repay their loans at interest rates as high as 7.9 percent, or higher, depending on when the loans were taken out.
It's no secret that most college graduates will spend a large portion of their early careers paying back their student loans. Many borrowers do not graduate with just one student loan, but with multiple loans each with its own interest rate, repayment period, and fine print.
Those currently in repayment often opt into automatic payments to make life easier and to take advantage of a rate reduction. Although this passive option provides some student loan relief, there are options that could potentially save you a lot of money and shave a few years off of your repayment terms.
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.
An exploding industry of debt relief companies, many who used to sell debt settlement services, think selling student loan assistance programs is the new fountain of gold. They will sell the hell out of these programs all day and all night, for an advanced fee and monthly payments.
Finding ways to save on your student loan payments can be useful if you want to manage your loans effectively, avoid delinquency or default, and save money. Here are a few tips and suggestions to get you started.
The best way to pay less for business school is simply "getting the right loans." Let's be honest.