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  • +30

    Student Loan Glossary

    Student Loan Glossary
    To fully understand your student lending options, it's helpful to review to language used within most loan terms and agreements. After all, how can you agree to anything without knowing what the terms you're agreeing to actually mean? It certainly helps to understand some basic loan terms, many of which you'll find them scattered throughout loan materials and in conversations with ...
    Published 3 months ago | Rated: +30
  • +4

    Government Report Reviews Private Student Loans and Recommends Statutory Changes

    The Consumer Financial Protection Bureau (CFPB) and the US Department of Education released a report to Congress about private student loans on July 20, 2012 as mandated by section 1077 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203, 7/21/2010). The report discusses the growth and changes in the private student loan marketplace, the use of private student ...
    Published about 3 years ago | Rated: +4
  • +8

    How to Pay for College After a Recent Bankruptcy Discharge

    My daughter will be starting college in the fall (hopefully). The full cost for each year is approximately $50,000. She received a scholarship for $35,000 and she has enough saved for books ($1,000), leaving her needing $14,000. When we filled out the FAFSA it said her family contribution would be too high. Unfortunately my husband and I filed for bankruptcy in ...
    Published about 3 years ago | Rated: +8
  • +5

    Tax Breaks for Student Loans

    Tax Breaks for Student Loans
    Good news! The interest you pay on your student loan might let you pay less on your taxes. Thanks to the Taxpayer Relief Act of 1997, tax time will be a little better for you and other student borrowers. How It Works Depending on your specific loan situation, you may be eligible to deduct some of the interest you pay on ...
    Published almost 8 years ago | Rated: +5
  • +12

    To Cosign or Not To Cosign, That is the Question

    My nephew has asked me to cosign a private student loan for college. He's on his own since he lives independently from his mother, his parents are divorced, and his father is completely out of the picture. He's made it through 2 years of college with great success. I'd like to help him. I have very good credit. What would be ...
    Published about 5 years ago | Rated: +12
  • +9

    Is Your Financial Aid a Victim of the Recession?

    Is Your Financial Aid a Victim of the Recession?
    The stock market’s in a slump. The economy isn't rebounding. Jobs are hard to come by-- and so are student loans. But you’re not sure how — or if— any of it affects you. Chances are it will. And while you may not be feeling the effects of it yet, that’s simply because it hasn’t trickled down yet. When it comes ...
    Published over 6 years ago | Rated: +9
  • +14

    How the Average Joe Can Pay for School

    How the Average Joe Can Pay for School
    As the cost of college is increasingly on the rise, many average, every day families are wondering how they’re going to pay the bill. Unfortunately, most families can only pay for some of the costs up front. And that means student loans become a requirement. According to The Institute for College Access and Success, nearly 70% of college students graduated with ...
    Published about 1 month ago | Rated: +14
  • +9

    Defaulting on Student Loans

    Missing payments on your student loan has serious consequences. If you're making monthly payments and you're 270 days delinquent, or 330 days delinquent if you pay less often than monthly, then you are in default. Your Borrowing Responsibilities It's important to read the fine print when you borrow money for school. Unless you're granted loan deferment, forbearance or forgiveness, you must ...
    Published almost 7 years ago | Rated: +9
  • +6

    How to Deal with a Defaulted But Paid-Off Student Loan that Reappears

    Years ago, I went to a two-year school and obtained my Associate's degree. I defaulted on the loan. However, my taxes were taken years later (twice) to take care of the loan. In 1995, I enrolled at a different college and was awarded the Pell Grant. I didn't take out any more loans. I paid the difference with a scholarship from ...
    Published over 3 years ago | Rated: +6
  • +6

    Will the New Rate Cut Affect Your Student Loan?

    The federal government's newest rate cut could have an impact on some student loans. Learn how it could affect your student loans below. Q: How do I know whether this rate cut affects me? A: The rate cut will affect recently-graduated students for whom ALL THREE of the following are true: 1. You're within the six-month grace period following graduation AND ...
    Published about 8 years ago | Rated: +6
  • +11

    How to Choose the Best Education Loans

    How to Choose the Best Education Loans
    With the new Obama tuition plan do you now have to go through FAFSA to get a loan? Is it better to take a loan out in my child’s name or take a parent PLUS loan? — Michelle A. All federal education loans are now made through the Direct Loan program. This includes federal student loans, such as the subsidized and ...
    Published over 5 years ago | Rated: +11
  • +15

    Choosing a Student Loan: Public vs. Private

    Choosing a Student Loan: Public vs. Private
    Loans – it’s a pretty loaded word, especially when it comes to higher education financing. Though they all serve the same purpose – helping you pay for school – they can come from a variety of sources. All students are encouraged to file the FAFSA, which will determine eligibility for financial aid. With this form, eligible students have the option to ...
    Published over 1 year ago | Rated: +15
  • +7

    Is the Non-Custodial Parent a Parent for Federal Student Aid Purposes?

    I am divorced and the custodial parent of two children who live with me. Both kids have Coverdell Education Savings Accounts. My soon-to-be college student daughter's Coverdell lists her father (my ex-husband) as the account owner. My son's Coverdell lists me as the account owner. How do I report my daughter's Coverdell on the FAFSA? The fund will not give me ...
    Published over 5 years ago | Rated: +7
  • +23

    Have You Considered Consolidating?

    Have You Considered Consolidating?
    No matter what type of loan you take out, it comes with its own interest rate. It can seem like a riddle when trying to keep track of your loans and payments. When it comes to loans, consolidation can be a great option. In consolidating your loans, it can become easier to handle because, essentially, your multiple loans will become one ...
    Published almost 2 years ago | Rated: +23
  • +2

    Should You Prefer Your Preferred Lender List?

    Students whose financial aid packages include loans will receive a preferred lending list with their financial aid package. Most college financial aid office have one. What is a preferred lender list? And, amid news reports of a scandal in which certain lenders did favors for a group of financial aid administrators in return for a pitch, can you trust the list? ...
    Published over 2 years ago | Rated: +2
  • +27

    Bailout Yourself--Tips for College Savings

    Bailout Yourself--Tips for College Savings
    Even though the bailout bill has been passed, most Americans are still wary of future financial woes. Students are especially worried, seeing as their funding for college is tied up in private loans and may have been affected by the recent sub prime mortgage crisis. Mark Kantrowitz, a leading financial aid expert, has a few tips to help students continue to ...
    Published over 6 years ago | Rated: +27
  • +17

    Student Loan Rates Increase: the Impact on You

    Student Loan Rates Increase: the Impact on You
    On May 8, it was announced that student loan interest rates for the 2014-15 school year would increase for students borrowing from the federal government. Currently, the rates are fixed at 3.86% for undergraduate subsidized and unsubsidized Stafford loans, but next academic year, they will increase to 4.66%. Graduate and professional students can expect to see a 6.21% interest rate on ...
    Published about 1 year ago | Rated: +17
  • +7

    Is a 3.75% Cash-Out Refinance on a Mortgage Better than Federal Student Loans?

    I have daughter who will be attending college in the fall of 2013 (and a son in 2017). For various reasons, our savings are not sufficient to pay for college given the current costs that I see. As home mortgage refinance rates have dropped to their lowest levels in my lifetime (around 3.75%), I had the notion of conducting a refinance ...
    Published about 3 years ago | Rated: +7
  • +3

    Student Loan Debt Clock Reaches $1 Trillion

    Student Loan Debt Clock Reaches $1 Trillion
    The student loan debt clock reached the $1 trillion milestone at about 6:40 am ET on Tuesday, May 8, 2012. Although the student loan debt clock is for entertainment purposes only, reaching this milestone demonstrates that student loan debt is a macroeconomic factor, with the potential to affect the economy, albeit modestly at present. Student loan debt will not derail the ...
    Published about 3 years ago | Rated: +3
  • +16

    What is a Reasonable and Affordable Monthly Payment for a Defaulted Borrower to Regain Federal Student Aid Eligibility?

    I am 26 years old and would like to go back to college. I have $12,000 in student loans which are currently in administrative wage garnishment. I make $27,000 a year and would like to get my loans back in good standing. I have called the collection agency in charge of my loan and they insist on me paying $120 extra ...
    Published almost 5 years ago | Rated: +16
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