While researching scholarships and scholarship application tips, you may have come across the phrase “tailor your essays” or “personalize your application.” But what exactly does that mean, and how do you do it? What are Tailored / Personalized Essays? When something is “tailor-made” it means it was specially made for a specific person or reason. …

When it comes time to pay off your federal student loans, you may find yourself overwhelmed. Many who have either graduated or left school ask if it’s possible to refinance or consolidate these debts. So, can you refinance and consolidate federal student loans? Yes, You Can Refinance and Consolidate Your Federal Student Loans! Yep! You …

These days, the vast majority of college students have to take out loans of varying amounts in order to pay for their education. In 2016 70% of graduates left school with outstanding loans with an average debt of $37,000 apiece. It’s pretty clear that if you’re concerned with paying your tuition, you’re not alone. Loan …

On September 30, 2017, after sixty years of operation, the Federal Perkins Loan will cease to exist. The program’s shutdown has been in the works for sometime. Originally, the death of the Perkins Loan was scheduled for two years prior, September 30, 2015, but a piece of legislation, the General Education Provisions Act, extended its …

If you’re new to the world of student loans, and you see the term “lender” or “servicer” you might mix the two up. Though some places use the titles interchangeably, it can lead to confusion. So let’s clear up the definitions! What is a Student Loan Lender? Lenders originate the student loans—meaning they are the …

Many students are unaware of this and are caught by surprise when their federal student loans get transferred to a different servicer. So why would a loan get transferred? All federal student loans are handled by different third-party loan servicers. If the loan servicer decides to sell their portfolio or there is some other change …

The thought of graduating with a mountain of debt can be more than daunting. It can be frightening. Is it really worth taking all those loans just to get a college education? Is there a bright side to student loans that makes it worth it? The truth is, there are benefits to taking student loans, …

Paying back your student loans early is often recommended as one of the best ways to  lower your overall debt. But there is some confusion as to whether doing this can attract additional fees. Here’s some clarification on this issue. Borrowers’ Fees Before 2008, private lenders could use their discretion and impose a penalty on …

Economic Hardship Deferment is a student loan borrower protection. It allows borrowers to temporarily defer payments toward their loans. If the borrower has a subsidized loan, it will not accrue interest throughout the deferment period. Deferment periods are taken in one-year increments, up to three years total. This deferment plan is only eligible to people …

Fixed rate and variable rate loans are another factor to look into before deciding on a student loan. The basic concept behind fixed rates and variable rates is pretty simple, but picking one can be a little more complicated. You must weigh the pros and cons of each before deciding which one is best for you. …