Qualifying for the Public Service Loan Forgiveness (PSLF) can be a huge relief for federal loan borrowers. After some hard work in the public service sphere, graduates can find their debt vanishing. So, if students with private loans do the same thing—work as teachers, enlist in the military, work for the government, join a non-profit—could …
Myth: Taking On Student Loans Will Just Leave Me In Debt For 30 Years
While being saddled with student loan debt for up to 30 years can happen, it’s not the norm despite what you may hear. With some smart choices and strategic planning, you can actually pay off all your loans within a few years of earning your bachelor’s degree. Here’s how. Maximize Financial Aid The less you …
More Myths About Student Loan Refinance And Consolidation
When looking for ways to manage your loan repayment you will come across the terms ‘refinancing’ and ‘consolidation’. While both of these are offer practical alternatives to managing your student loans, they may not always be the best option for all borrowers. Moreover, there are several myths out about student loan refinance and consolidation that …
5 More Scholarship Myths
You’ve read about the 5 most common scholarship myths that stop many students from applying for free money that could be used to pay for college. Unfortunately, those aren’t the only scholarship myths out there. We’ve put together 5 more scholarship myths that you should not to believe in. Myth #1: I can apply for …
Myth: Federal Student Loan Repayment Plans are Rigid and Inflexible
The government is infamous for its red tape and paperwork. It can sometimes feel like you’re doing back-flips and jumping through hoops just to get things done. Add that mentality to student loans, and it’s no surprise that many people avoid federal student loans for fear of inflexibility and strict rules. However, it’s highly recommended …
Myth: I Don’t Need to Look for Scholarships, My College Will Provide Financial Aid
When it comes to scholarships, there are three major sources: the federal government, the colleges, and outside organizations / individuals. While colleges can indeed provide hefty financial aid packages that can greatly reduce your tuition cost, they probably won’t be able to cover the full amount. Scholarship Search Scholarships are the best way to pay …
Myth: Scholarship Competition Is So Intense I’ll Never Win Anything
It’s hardly surprising that there is competition for scholarships. It is free money after all! Unfortunately the thought of competing with hundreds of other applicants acts as a deterrent to many students who decide it just not worth jumping into the fray, as they are not likely to win anything. This is a huge mistake. …
Myth: Scholarships Are Just For Minority Students
There’s a common thought among high school seniors and juniors that scholarships are just for minority students. If you limit your search, that may seem the case, but it’s far from the truth. If You Only Skim the Surface If you only look at the surface of what’s available scholarship wise, it may absolutely look …
Myth: Applying To Scholarships Is A One-Time Thing
There are countless scholarships out there and each one has its own unique qualifying criteria and guidelines. Some scholarships offer one-off awards, while others may be recurring, provided that you meet the renewal requirements. However, the one thing in common among all scholarship opportunities is that you are not limited to applying only for your …
Myth: I Should Borrow As Much As I Can In Student Loans
Considering how expensive college is nowadays, it makes sense that people would believe they need to take as much out in student loans as possible to cover the cost of tuition. This, however, is the exact opposite of what you should do. Student Loan Repayment and Interest You must keep in mind that when you …
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