College usually costs a lot of money. Many students end up taking out loans for college. When it comes to student loans, there are two main types: federal and private. Federal loans, as the name implies, comes from the federal government. Private loans are funded by lending companies like Sallie Mae or Credible. So private …
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Last updated by College Raptor StaffJune 25, 2019
When you take out a student loan, you’ll have an interest rate that you will have to pay on the amount that you borrow. For the most part, interest rates will remain consistent throughout the life of your loan (especially if you opted for a fixed rate). Interest rates greatly affect how you calculate student …
Last updated by College Raptor StaffMay 2, 2019
Understanding how student loans affect your credit score will help you make informed decisions that will protect your credit history. It can even help you build a strong credit score. A bad credit score makes it very difficult to get approved for any loans in the future. And those few lenders who are willing to …
Last updated by College Raptor StaffMay 3, 2019
Financial Awareness Counseling is online interactive tool. Provided by the federal government, the tool helps students understand their loans and their commitment as borrowers. All students and families who have federal student loans can access this tool by logging into their account on the Federal Student Aid site and clicking the Financial Awareness Counseling link. What …
Last updated by College Raptor StaffJuly 10, 2019
Private student loans come with much higher rates of interest compared to federal student loans, but that’s not their only downside. They also have rigid repayment terms and offer no scope for forgiveness. This is an option you should consider only if it is absolutely necessary and you’ve got your back against the wall. Are …
Last updated by College Raptor StaffMay 9, 2019
As you research private student loans, you’ll come across the terms: fixed interest rate and variable interest rate. But what exactly does that mean? How do you choose between them? The Difference Between Fixed and Variable Interest Rates With a variable rate loan, the interest rate will change regularly depending on the market conditions. They …
Last updated by College Raptor StaffJune 14, 2019
When you apply for a student loan, most lenders will offer you the option to choose between a variable or fixed student loan interest rate. Some lenders also offer a third option – hybrid interest rate. A hybrid loan offers a combination of features. That means combining the pros and cons of fixed interest rates …
Last updated by College Raptor StaffJuly 17, 2019
After exhausting all scholarship and other financial aid opportunities, many students require a private student loan to cover the rest of their college costs. Iowa Student Loan is committed to helping students and families obtain that funding. It’s a great option for students who are residents of Iowa or out-of-state students attending college in Iowa. …
Last updated by College Raptor StaffJuly 17, 2019
There are dozens of student loan refinancing companies out there, and it’s important to consider all your options. One company you should definitely check out is Iowa Student Loan. They’re a nonprofit organization that helps students get low-cost private loans to cover college expenses after exhausting other financial aid. In addition to lending money to …
Last updated by College Raptor StaffAugust 15, 2019
After you’ve maximized federal and institutional financial aid, grants, and scholarships, it’s time to start exploring private student loans. Make sure to shop around and look for the best deal possible before borrowing money from a private lender. Of course, with dozens of lenders with different eligibility criteria, rates, and repayment terms, shopping around is …
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