Pros and Cons of Student Loan Forbearance

Forbearance on your student loans occurs when you lower or stop your loan payments for a certain period of time. It is different from deferment of your student loans because your interest keep accruing during forbearance, whereas with deferment your interest stops accruing. While it might seem like an easy solution if you’re having trouble …

What is a Student Loan Grace Period?

You may have heard that if you take out a student loan, you will potentially have a grace period before you have to start making payments back. This is true for some, but not all loans. Grace periods are meant for students to regroup and continue saving money in order to make their upcoming monthly …

How to Change Your Student Loan Repayment Plan

Your student loans will generally come due about six months after you graduate or leave college, though some loans will not have that grace period. You may discover at this point that you can’t quite afford the current repayment plan. Here’s how you can go about changing how much you pay. Talk to the Lender …

How to Ensure You Make Your Student Loan Payments on Time

If you’re like most college students, who both A) have student loans and B) forget important things sometimes, I have good news and bad news. The bad news is that remembering to pay your student loans is vital and can be more challenging for those of us who have poor memories. The good news, though, …

Don’t Make These Federal Student Loan Mistakes

Federal student loans offer several more benefits than private student loans. However, many students do not take the time and trouble to understand how these loans work over the long term and they end up making wrong decisions that can have a big impact on their finances and their credit history. Before you apply for …

Student Loan Red Flags: When a Loan Option Isn’t for You

After you’ve applied for student loans, both federal and private, you may be receiving quite a few responses and offers. Some may be enticing, but it’s important to investigate it carefully to ensure it’s right for you. Here are a few student loan red flags you should be on the lookout for: High Interest Rates …

Why You Should Start Paying Back Student Loans While in School

Some loans, like direct subsidized or direct unsubsidized loans from the Department of Education, don’t require you to start paying back until after you graduate college or leave school. You will even be granted a six month grace period. However, that doesn’t mean you should wait to start paying the money back. Here are some …