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Can You Make More Than One Student Loan Repayment a Month?

By College Raptor StaffLast updated on December 22, 2022

Student loan debt can feel overwhelming. When you start repaying, those monthly bills can be frustrating. Depending on your lifestyle and your financial goals, there are two main ways you can handle your student loan debt (beyond a standard option). Maker smaller monthly payments. Or make two student loan repayment sums in a month and …

Stop sign - you can prevent student loan default by stopping it before it starts

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How Do I Prevent Student Loan Default?

By College Raptor StaffLast updated on December 22, 2022

You know what happens if you default on your student loans—your credit history takes a hit. This can have serious consequences on your future financial prospects. Lenders are reluctant to approve loans to defaulters and even if they do, they will charge you premium interest rates. This is not a scenario that anyone wants to …

Quarter coin - you should complete financial awareness counseling

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What Is Financial Awareness Counseling For Federal Student Loans?

By College Raptor StaffLast updated on December 22, 2022

Financial Awareness Counseling is a government service that helps students understand their loan commitments as borrowers. This is done through an online interactive tool called the FACT or Financial Awareness Counseling Tool. Generally, the aim is to help borrowers manage their finances better to prevent potential financial disasters. All students and families who have federal …

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Are There Prepayment Penalties For Student Loans?

By College Raptor StaffLast updated on December 22, 2022

The world of loans can feel like a treacherous one at times. There’s a lot to keep track of, and even more to watch out for. As you’ve navigated your own student loans, you may have come across the term “prepayment penalties.” But what does that mean? And, more importantly, how does it affect you? …

Three different sized books - there are different sized student loan repayment term options too

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Which Federal Student Loan Repayment Term Is Right For Me?

By College Raptor StaffLast updated on December 22, 2022

Many college students take out federal student loans, which also means paying them back someday. When that day comes, federal student loans have multiple repayment plans for students to choose from. The student loan repayment term that you choose directly impacts the amount that you have to pay back every month. It also affects the …

Chalk clock and late federal student loan payment

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What Happens If I’m Late On A Federal Student Loan Repayment?

By College Raptor StaffLast updated on December 22, 2022

You may have had every intention to make your loan payments on time, but life happens. Every month you find yourself juggling multiple payments on different due dates while also keeping up with your job commitments and deadlines to pay utility and other bills. With so much happening, loan payments can get lost in the …

Up and down street arrows - did you know the average student loan debt is $37,000?

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Should I Pay More Than Minimum On Monthly Student Loan Repayments?

By College Raptor StaffLast updated on December 22, 2022

Did you know that the average student loan debt is just over $37,000? It’s an intimidating number, to be sure. While there are ways to lower that debt amount, or even prevent it, most students will have to deal with some amount of debt. So it begs the question: should you pay more than minimum …