All Questions & Answers Articles

How Often Do Student Loan Variable Rates Change?

student loans questions & answers
In variable rate loans, the rate of interest fluctuates and changes several times over the lifetime of the loan. This is because variable rate loans are tied to market interest rates. Variable Rates and Market Trends When market conditions are bad, lenders reduce short-term interest rates to encourage lending. When this happens, the rate of …
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What Are Interest-Only Repayment Plans?

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In an interest-only repayment plan, borrowers pay back only the interest that accrues on their loan every month. This is unlike standard repayment plans. Monthly payments are used to cover a part of both, interest as well as principal. While there are some benefits to choosing interest-only repayment plans, there are also a few downsides …
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Should I Consolidate My Student Loans?

You may be wondering, "should I consolidate my student loans?" questions & answers
Consolidating private and federal student loans involves combining multiple loans into one. The consolidation is generally done through a new lender and the resultant loan is considered as a completely new loan with a different interest rate and different payment policy. You may be wondering, “should I consolidate my student loans?” Student loan consolidation is …
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Should I Get A Summer Job Or Internship?

the cost of college questions & answers
“Should I get a summer job or internship?” is an interesting question that high-schoolers are faced with. Both offer amazing benefits but they each have their downsides too. Whether a summer job or an internship is the right choice for you depends on what you are looking to get out of the experience. A snapshot …
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What is a Fellowship?

Students standing in front of a large globe. questions & answers
You’ve might have heard the word “fellowship” thrown around a bit here and there, but have you ever wondered what it meant? A fellowship is not quite a scholarship and it’s not quite an internship, but it can be similar to both. Here’s a rundown on what you need to know and how you can …
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What is Student Loan Exit Counseling?

A white sign with text that says "exit" with an arrow pointing left. questions & answers
When you take out federal student loans, you are required to start paying them back through monthly payments, starting a few months after you graduate (if not sooner). For most student loan borrowers, the process of paying back their loans can be even more baffling than the process of applying for loans. What are the …
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What is a Master Promissory Note?

student loan programs questions & answers
When you take out any loan, the lender will ask you to sign a promissory note stating that you agree to the terms and conditions of the loan, and that you promise to repay the loan with interest within the agreed time. This is no casual note. A promissory note is a legally binding contract …
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Common Questions About Work Study Programs

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Work study programs are need-based student aid programs that allow students with financial need to earn an income through part-time employment while they are still in college. The work study program is funded by the federal government. The aim of the program is to give needy students the opportunity to earn money that can be …
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Can I Switch My Student Loan Repayment Plan?

Can you switch student loan repayment plans? questions & answers
Things change. What you started with might not be ideal for the situation you’re in now. This is true for life and for student loans. When you take out a student loan, you’ll agree to a certain type of repayment plan. However, as time goes on you might find that a particular plan doesn’t work …
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