There are quite a few federal student loan repayment options out there, so which do you pick? Which one will work best for you? You probably have a number of questions, but here are some questions that may help you find the answer. What kind of loan(s) do I have? Certain loans don’t qualify for …
Student Loans
What You Need To Know About The Standard Repayment Plan
If you do not choose a specific repayment plan when you take a federal student loan, the Standard Repayment Plan is considered as your default choice. Details of the Standard Plan With a Standard Repayment Plan, your loans will be paid off within 10 years. Under the terms of this plan, your entire loan (principal …
Is Choosing A Variable Interest Rate Worth The Risk?
Federal student loans come with a fixed rate of interest, which remains constant till your debt is cleared. Private student loans come with fixed interest rates and variable interest rates. At the time of taking the loan, you will have to choose from one of these two options. This is no small decision to make. …
Pros and Cons: Refinancing Your Student Loans
Refinancing your student loans involves replacing your existing loans with a new private loan. Why would anyone want to do this? More importantly, is refinancing the right choice for you? Knowing the pros and cons will help you make the right decision. Pros Of Refinancing Student Loans Lower rate of interest: This is the primary reason …
FAQs About Federal Student Loans
If you’re getting started with federal student loans, you likely have a bunch of questions. So we’ve gathered some of the most common questions people have about these loans, and answered them for you! What are federal student loans and how do they work? Federal student loans are loans that are offered by the government …
All About Private Loan Repayment Options
The type of student loan repayment plan you choose is almost as important as the loan itself. A repayment plan dictates the terms of paying back your loan, including when you start making payments and how much those payments are. Most private lenders offer student borrowers four repayment options: Immediate Repayment Choosing this option means …
FAQS About Private Student Loans
There are a lot of questions that come with student loans, and we aim to answer quite a few of them! What are private student loans? Private student loans are loans offered by banks and other private lending institutions to college students to help cover all or part of their college education costs. How are …
Pros and Cons of Graduated Repayment Plans
After graduation, you have quite a few options when it comes time to repay your student loans. One of those options is a graduated repayment plan. This plan works by starting your payments lower and raising them slowly over time. Here’s a rundown of what that means for you as well as the pros and …
What You Need To Know About Grad PLUS Loans
Grad PLUS Loans are federal student loans that students can take to cover the costs of grad school. Only students attending programs in a graduate or professional school are eligible to take out Grad PLUS Loans. These loans are funded by the federal government and filing the Free Application for Federal Student Aid or FAFSA …
9 Important Facts About Federal Consolidation Loans
A Federal Consolidation Loan is a type of loan that merges multiple federal student loans into a single loan. The single biggest advantage of federal consolidation loans is that you only have to make a single monthly payment as opposed to making multiple payments on different days of the month. It’s definitely more convenient and …
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