All Questions & Answers Articles

What can a student loan pay for? What can you spend with the money?
questions & answers

What Can a Student Loan Pay For?

Many college students end up taking out student loans. We know that student loans are used to pay for college, obviously, but “pay for college” is a pretty broad description. So what can a student loan pay for? Let’s narrow it down a bit: Tuition & College Fees This is often what people first think …
What is DRM FAFSA and what does the DRM have to do with FAFSA
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What is a DRN and Why is it Important for Financial Aid?

DRN stands for Data Release Number, but what does that mean in context with the FAFSA? We explain more below. Financial aid is already complicated and potentially frustrating. And that’s not including all the acronyms involved. When it comes to financial aid, there is a whole dictionary of acronyms you’ll come across. DRN, FAFSA, EFC, …
student finance
questions & answers

Do I Have to Demonstrate Financial Need to Earn Scholarships?

Some students don’t bother looking for scholarships because they don’t think they’ll qualify for any. There’s a persisting myth that in order to have a chance at winning scholarship money you have to have significant financial need. However, that’s not true of all scholarships. There Are Student Finance-Based Scholarships, But… While there are plenty of …
Don't get personal loans if you can help it
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Are Personal Loans A Better Option Than Student Loans?

No, personal loans are most definitely not a better option than student loans. Personal loans should be your very last resource for borrowing money for college. If possible, they should be avoided altogether. Here are three reasons why: Higher Interest Rates Interest rates on personal loans vary depending on your credit score. As you would …
Side view of a girl looking through binoculars.
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Where’s The Best Place To Get Money For College?

With today’s soaring tuition fees, the question on everyone’s mind is: how do you pay for college? While there are many sources of aid and funding, two options stand above the rest. The two best sources to start with are the FAFSA and scholarships. FAFSA Filling the FAFSA (Free Application for Federal Student Aid) is …
Refinance student loans at the best time
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When Is The Best Time To Refinance Student Loans?

For many students, one of the more popular reasons to refinance is to save money on student loans, but as with most student loan options, it should be chosen carefully. Refinancing can help you improve your current financial situation but only if you refinance student loans at the right time. When to Refinance Student Loans …
What is a student loan principal balance?
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What is Student Loan “Principal Balance?”

When you’re applying for (or repaying) student loans, you’re going to come across quite a few terms that you may not quite understand. One of these terms is your student loan “principal balance.” Here’s a quick rundown of what that means for your student loan debt. What is “principal balance?” The principal balance is the …
Credit cards in a pocket.
questions & answers

Can Students Build Good Credit In High School?

You know you will be heading off to college after high school and that means you are likely to be looking for student loans. While building and having a credit history does not matter when it comes to federal student loans, it can make a huge difference when borrowing money from private lenders. The Importance …