questions & answers

Is There Any Way To Switch Your Student Loan Servicer?

By College Raptor StaffLast updated on March 25, 2025

When you take a federal student loan, it is generally handled by a loan servicer who manages the loan and answers any questions you might have. This loan servicer is assigned to you. You cannot choose one neither can you switch the servicer assigned to manage your loan. In most cases it does not matter …

questions & answers

What Does “Account Closed Due To Transfer” Mean & Does It Affect Your Credit Record?

By College Raptor StaffLast updated on March 5, 2025

When you consolidate your student loans, it gets transferred into a completely new loan with a new account and a new lender. When this happens, your old loan account becomes redundant but it still stays on record as part of your credit history. Federal Consolidation Loan & Credit Scores If you check your credit report …

questions & answers

Is There Any Way To Attend College Tuition-Free?

By College Raptor StaffLast updated on March 24, 2025

Tuition free education seems like a tall order, an impossible dream. Reading about student loan debt is common. The more you read about it, the more it seems like all students who attend college take huge loans and graduate with massive debt. Unfortunately, what goes unmentioned is the number of students who attend college tuition-free …

questions & answers

What Is an Extended Repayment Plan?

By College Raptor StaffLast updated on August 14, 2024

The Federal government gives Federal student loan borrowers several different repayment options to make it easier for them to pay back their loans. One such option is the extended repayment plan. This plan allows borrowers to make lower payments every month by extending the tenure of the loan from the standard plan of 10 years …

questions & answers

Can I Change My Student Loan Servicer?

By College Raptor StaffLast updated on March 24, 2025

First off, we should define what a servicer is. Many people use the terms servicer and lender interchangeably, but a servicer helps you manage the loan, while a lender is the one who gives you the loan and sets the terms. With that in mind, can you change your student loan servicer? What if your …

questions & answers

How Do You “Tailor” or “Personalize” a Scholarship Essay?

By Allison WignallLast updated on December 22, 2022

Many students look for scholarships to fund their college education. 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 tailor or personalize a scholarship essay? What are Tailored / Personalized Essays? “Tailor-made” …

questions & answers

Can You Refinance and Consolidate Federal Student Loans?

By Hilary CairnsLast updated on March 6, 2025

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, is federal student loan consolidation or refinancing an option? Yes, You Can Refinance and Consolidate Your Federal Student Loans! Yep! …

questions & answers

Can You Apply for a Student Loan Any Time of the Year?

By College Raptor StaffLast updated on May 20, 2025

You can apply for some types of student loans any time of the year. Federal student loans have a specific window within which you can apply for all types of federal financial aid including student loans. Private lenders are generally more flexible and will allow you to apply for a student loan any time of …

questions & answers

What Happened to the Perkins Loan?

By Morgan StaubLast updated on March 3, 2025

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 …

questions & answers

Difference Between Student Loan Lender and Student Loan Servicer

By Allison WignallLast updated on February 25, 2025

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 difference between a student loan servicer vs lender! What is a Student Loan Lender? Lenders …