It’s the American dream. You work hard at school, get good grades and achieve your best possible SAT score. And in the presence of your delighted friends and family you graduate from high school with big dreams and high hopes of a graduate degree and your dream job. Except, that if you are like the majority of American college students, that dream comes at a price… and the interest rates could drown you. […]
Given the high cost of tuition these days, students commonly combine several kinds of federal-only or federal-and-private loans to come up with a way to cover all of their educational costs. Since interest rates are the lowest they’ve been in decades, it could be a smart move for a student, parent or recent graduate to consolidate all of his or her loans for the lowest rates. […]
Introduction: The economic recovery, what exactly is it? Some would say the ability for the country to rebound after a major downturn in the financial markets. Others would simply say the ability for me to purchase a new home for my family. The term definitely has different meaning for different people. Today, we’ll speak about the impact student loans has on the economic recovery and how we think students have been affected by them. […]
With so many lending companies out there competing for your business, it's easy to fall into a false sense of security about the requirements of getting a loan. Frequently prospective students are inundated with advertisements of money that sound like they’re giving it away for free. If only this were true! Loan candidates should always remember that with few exceptions (like some federal loans); even the least restrictive program will look at that same set of credit criteria for student loans. […]
Everyone needs someone to love, even when you’re broke! Seriously, people must ask themselves, can I have a relationship while having student loans? I know it sounds crazy but it’s a valid question for so many different reasons. Hopefully by the end of this writing, you can make a good decision on your personal situation. […]
Every college in the nation has a financial aid department with people ready and willing to assist. They help guide students and their parents through the process of filling out paperwork and such. Although they do provide much information, financial aid advisors may be missing some crucial bits of info that may cause adverse effects on a student’s post college life. I’ve detailed 3 glaring examples of places where financial advisors may be lacking. […]
Sometimes it is not easily possible to have a car loan when you already have a student loan. Traditionally, banks would not be willing to give loans to college students. The reason is obvious- the payment of the loan from a college student can be an uncertain thing, as college students may not have permanently reliable and big sources of credit or income. […]
If you're researching a Grad PLUS Loan (Graduate Student PLUS Loan), chances are you know the major change that occurred recently: students themselves are now eligible for the loan which previously was available only to parents of undergraduate students. The Grad PLUS Loan helps to bridge the gap between financial aid awarded to a student and outstanding costs of attendance he or she might have. Though it's available directly to the student borrower now, it's only awarded to graduate and professional school students. […]
Banks are a great resource to visit for information regarding school loans. Unfortunately, banks are also where many sales occur. In theory, banks make plenty of money from student loans. Banks need the students to continue taking loans because that’s one of their major financial instruments. Therefore, certain information you will not be told when consulting with your bank in regards to loans. Read below for 5 distinct examples. […]