Deciphering your student aid package is already like reading IKEA furniture instructions. Confusing. One of the biggest points of confusion for prospective college students is the difference between subsidized and unsubsidized loans. Understanding the difference is important as it impacts your interest, repayment, and overall student debt. What Are Direct Subsidized and Unsubsidized Loans? Both …
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You may have heard the news – the federal student loan forbearance period has been extended again until student loan forgiveness litigation is resolved or debt is forgiven. If you’re feeling out of the loop after reading that, here’s a quick recap of how we got here: COVID happened (no further explanation needed) Loan …
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The Parent PLUS loan program was launched in 1980 through the Higher Education Act, giving high-asset families a bit of liquidity to cover their Expected Family Contribution (EFC). Since then, the program has expanded to cover other demographics, providing a wider audience with federally-sponsored college financing. If you’re considering borrowing a Parent PLUS loan to …
The bad news: Unfortunately, there’s several mistakes we see students make when dealing with their student loans. The good news: We’ve compiled them into a list with steps on how to avoid those mistakes so you don’t make them. Here we go! 1. Borrowing Too Much Money These aren’t in any specific order, but this …
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As if paying for undergrad wasn’t bad enough, now you have to pay for grad school! (*cries in student debt*) One of the options you may have for paying for grad school is a Grad PLUS loan. Let’s break down what a Grad PLUS loan is, who is eligible for one, and what it’s like …
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We’ve heard the horror stories. Someone applies for Federal Aid and receives a whopping $0. Or, better yet, they apply with what they believe is a significant level of need and receive very little. Why is this? Let’s break it down. Your Expected Family Contribution When you fill out the FAFSA, you will enter information …
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