Typically, it’s recommended that borrowers have a good credit score to access competitive student loan offers. But what if you have no credit at all? Don’t fret — there are a variety of student loan options for borrowers with no credit. Keep reading to learn how you can get student loans with no credit and …
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If you want to save money, consider going to community college and transferring to a four-year college after earning all of your General Education credits. Although you may be wondering, “is community college really free?” Over 100 colleges in the United States offer transfer options for community college students, including all of the Ivy League …
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If you’re a borrower, you may be wondering, “Are student loan payments tax deductible?” For qualifying borrowers, the answer is yes. Student loan payments ARE tax deductible. The student loan interest deduction is a federal tax break that lowers how much of your income is taxed. The federal government created this deduction to assist borrowers …
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The average individual with a Masters in Social Work has around $68,000 to $76,000 in student loan debt. If you’re in the same boat, you’re not alone. To relieve the burden of student loan debt, consider pursuing loan forgiveness for social workers. Many federal forgiveness programs support individuals who work in public service, including social …
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Sallie Mae and SoFi are two reputable lenders in the private loan industry, so you truly can’t go wrong with either. If you’re debating Sallie Mae vs SoFi, here’s what you should know about their private student loans before borrowing with either lender. Sallie Mae vs. SoFi: A Side-by-Side Comparison The table below offers an …
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Refinancing your student loans is a great way to lower the interest rate or monthly payment of your current loan. If you’re debating between Earnest vs SoFi, here’s what you should know about both lenders before picking one to move forward with. Earnest offers student loan refinancing with customizable repayment plans, letting you choose your …
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Being a military spouse requires a level of sacrifice some may never understand, and oftentimes placing your career on hold is one of them. While sometimes necessary to keep up with a life of frequent moves, it can create additional challenges when it comes to paying off student loans. That’s why it’s important to know your …
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If you owe more than 6-figures in student loans, you may feel overwhelmed by your debt. However, you’re not alone. In 2021, there were around 900,000 borrowers who owed $200,000 or more in student loans. If you want to learn how to pay off $200k in student loans fast, you’re in the right place. Keep …
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Building a college list, or a list of colleges and universities you’d be interested in applying to, is an important step when applying to college. It can help you identify your best-fit colleges, narrow down your options, and make informed decisions about where to apply and ultimately attend. If you don’t know how to build …
College is a special four years of your life, and you’ll want to make the most out of your experience. Here’s the ultimate college bucket list to make memories that will last you a lifetime. #1: Study Abroad Studying abroad can be a once-in-a-lifetime experience. Not only do you get to study in another country …
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With President Biden’s student loan forgiveness program dominating news headlines as the federal courts debate the legality of his debt relief plan, you may be wondering, “What is student loan forgiveness?” If that’s the case for you, you’re in the right place. Keep reading to learn about what student loan forgiveness is and what programs …
If you are considering going to grad school after college, you may be wondering, “How much does grad school cost?” Making the decision to attend graduate school is one thing, but paying for it is another issue. Whether you plan to take out graduate student loans, receive a scholarship, or pay out-of-pocket, being aware of …
With average college tuition costs rising every year due to inflation, it’s increasingly important to be aware of the costs associated with higher education. One aspect of this is understanding what exactly tuition is, along with how it differs across factors like geographical location and institution type. Tuition vs. Cost of Attendance Tuition and cost …
Welcome to college application season – one of the most exciting and slightly stressful milestones in your life. Though the college application process may seem overwhelming, familiarizing yourself with what it entails, including admission requirements, deadlines, and application timelines, is key to being prepared. Use this college application checklist to guide you at every step …
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Both federal and private student loans can be used for educational expenses. While that typically means costs like tuition and fees, there’s a variety of items that fall under the umbrella. In fact, you can use your student loans for living expenses, child support, and even study-abroad programs. Can I Get a Student Loan to …
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Filing the FAFSA application (Free Application for Federal Student Aid) is the first step to receiving federal financial aid. Though it may seem like a daunting task, all it takes is a little bit of preparation, time, and focus. To save yourself from making any FAFSA errors, here are the most common mistakes that are …
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Congratulations on being accepted into college! (*virtual fistbump*) If you’re leaving home to embrace the “dorm life,” we’re here to help. Our comprehensive college dorm checklist covers everything you should and should not pack as you leave home. What are Must-Haves for College Dorms? When you’re moving into a college dorm room, it’s better to …
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While there are both drawbacks and benefits of paying off student loans early, the decision ultimately depends on your financial priorities and standing. Should I Pay Off Student Loans Early? Ask yourself the following questions: #1: Do you have at least 3-6 months’ worth of emergency funds? Having a rainy-day fund that can last you …
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According to Forbes, the median total cost of becoming a doctor in 2020 was between $255,517 to $337,584, leaving many with hefty student debt totals. If you’re looking to lower the costs of your medical school loans, consider loan refinancing. Refinancing is the process of taking out a new loan with better terms to repay …
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If you need to take out student loans to pay for educational costs, you’re not alone. With rising college prices, it’s no surprise that one in seven Americans currently hold student loan debt. If you’re a first-time borrower, you may be wondering, “How long does it take to get a student loan after submitting an …
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Student loan refinancing is one of the best ways to save money when paying off your student loans. By refinancing, you’d take out a new loan with more favorable terms to repay your current debt. Ideally, this new loan will have a lower interest rate or monthly payment (or both). Although you may be wondering what …
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As a borrower, refinancing your student loans can be beneficial. For example, borrowers who use Sparrow to refinance save, on average, $17,000 over the life of their loan. That said, the savings can vary greatly depending on the borrower. With that in mind, you might be wondering, “Is refinancing student loans worth it?.” It’s always …
The total student loan debt, between both federal and private loans, is $1.75 trillion. If your debt is contributing to this total, it’s time to pay it off. Whether you borrowed private loans, federal loans, or a mix of both, deciding which student loans to pay off first can be difficult. However, it’s important to …
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The Free Application for Federal Student Aid (FAFSA) is open for next school year. The earlier you submit it, the better. If you have divorced parents, navigating the FAFSA might be a little more difficult. It has its own set of guidelines on who you can report as your “custodial” parent on the application. No …
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Now that your student was accepted into their dream school, it’s time to figure out how to pay for their education (as if getting into college wasn’t difficult enough, eh?). From parent loans to student loans, you have a lot of options. Therefore, finding the most suitable way to afford educational costs can be difficult …
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According to the Education Data Initiative, around 15% of student loans are in default at any given time. If you are in student loan default, it’s understandable to feel overwhelmed and discouraged. However, don’t lose hope. There are many ways to financially recover from it. Jump Ahead > What is Student Loan Default? • What Happens …
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Borrowing a student loan is a big decision. Figuring out how much to borrow, where to borrow from, and how to navigate getting the money where it needs to go can be confusing. Before anything else, you should consider what you intend to use the loan money for. While student loans need to be used …
According to a study done by Fidelity, 42% of parents wish they started saving for college earlier. While saving for college can seem like a daunting challenge, we’re here to help. If you’re wondering when you should start saving for your child’s college education, you’re in the right place. Keep reading to learn about when …
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If you’re a parent looking for an alternative to private student loans, consider applying for Parent PLUS loans. Parent PLUS loans are a type of federal loan offered to parents of dependent college students. Known for varied repayment plans and strong borrower protection, they’re a great option to finance your child’s education. In this article, …
Americans have borrowed more than $136 billion from private student lenders. Private student loans are a popular option because they can help fill the monetary gaps that federal student loans and financial aid do not. If you think borrowing private loans is the right option for you, keep reading. We’ll tell you everything that you …
Borrowing student loans is a common practice to afford educational expenses. That said, deciding which option is best can be a difficult decision to make. In the debate of student loan vs. parent loan, here’s what you should consider. What to Consider Before Pursuing Loans Before considering any loan, maximize all available financial aid. This includes …
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Now that you’ve been accepted into college, it’s time to figure out how you are going to pay for your education. As you sift through your financial aid packages, it may be confusing to differentiate between the different types of financial aid you were offered. In this article, we’ll cover everything you need to know …
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Borrowing federal student loans is a popular, oftentimes necessary practice to finance the cost of college. In 2022, 43.4 million borrowers carried federal student loans. Applying for federal student loans is fairly simple – all you need to do is submit the Free Application for Federal Student Aid, and the U.S. Department of Education determines …
President Biden’s student loan forgiveness will relieve federal student loan debt for qualifying borrowers. Now, it’s just a matter of figuring out which loans are eligible for cancellation and when student loan forgiveness will materialize on borrowers’ accounts. While detailed information about student loan forgiveness is yet to be released, here’s what we know about …
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Under President Biden’s latest student loan relief actions, millions of borrowers can receive a refund of any student loan payments made since the forbearance. In fact, according to Federal Student Aid (FSA), “[borrowers] can get a refund for any payment (including auto-debit payments) you make during the payment pause (beginning March 13, 2020).” Now, many …
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On August 24th, 2022, President Biden released his comprehensive, wide-scale plan for student loan forgiveness. This student loan relief package has nearly $4 billion dollars in aid and is the largest student loan forgiveness package to date. The three-part package was designed to lift the financial burden of student loan debt for millions of Americans, …
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Congratulations on your child’s admission to college! The journey isn’t quite over yet – now, it’s time to explore the options you have for paying for the education. Between federal student loans and private student loans, the decision can be difficult to make. Each loan type caters to different individuals, so it’s important to understand …
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After being accepted into college, it’s important to see what options you have for financing the cost of your education. While scholarships, grants, and federal work-study aid should always be accepted first, you may wind up considering student loans as well. Though the process may seem daunting, we’ve simplified it for you with a step-by-step …
In the United States, 48 million borrowers owe a cumulative total of $1.75 trillion in student loan debt. As we can see, while student loans can cover a significant portion of educational costs, it means that you’ll owe a significant portion as well. If you plan to take out student loans to pay for the …
Do you love to fly, see the world, and travel for free? If yes, being a pilot might be the job for you, and it might be the perfect time to become one. According to the U.S. Bureau of Labor Statistics, the job outlook for pilots is promising. Commercial pilot jobs and airline employment expect …
The average student loan debt for college graduates is around $37,000, though the average student loan debt for engineers varies based on the type of engineering that you study. If you plan to pursue a degree in engineering, it’s important to look ahead into the post-graduation future. To do so, consider factors like the average …
As a student applying to college, you should be aware of the options that you have for applying, such as Early Action, Early Decision, and Regular Decision. Knowing how you want to apply to college can save you a lot of time and assure that you are making the best decision for yourself. Although you may …
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According to the U.S. Department of Education, an estimated 42.9 million Americans have federal student loans. Federal student loans are a favorable option when it comes to paying for the cost of education. This is because federal student loans offer flexible repayment terms, borrower protection measures, and loan forgiveness options. Most federal student loans also …
Cosigning is a popular practice in the world of private student loans. Most students do not have sufficient enough credit histories to qualify for competitive private loans on their own, which is why a cosigner steps in to help. However, at this point you may be wondering, “does cosigning a student loan affect my credit?” If …
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Many people don’t talk about the different pathways that you can take after high school graduation, except the traditional four-year college route. Going to trade school is a viable option to consider if attending college is not for you. You may be wondering, ‘what is trade school’ and ‘is trade school free?‘ Trade school has a …
While student loan forgiveness scams have been deceiving borrowers for as long as we can remember, Biden’s pending decision regarding student loan debt relief has created a new opportunity for scammers to take advantage of more borrowers. As borrowers, we want to keep you and your families safe from student loan forgiveness scams. When looking …
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In 2021, 43.4 million students in the United States were signed under a federal student loan. When it comes to filling the gaps in tuition that can’t be covered by scholarships and grants, federal student loans are a great option. Plus, most students are eligible for these loans because, unlike private student loans, federal student …
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Once the summer wraps up, it’s the busiest time of the year for high school seniors: college application season. From juggling deadlines, to standardized tests, to finalizing your college list, the process of applying for college can become quite tumultuous and hectic. If you need a breakdown on how to apply for college, here’s seven …
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Nurses are not exempt from the national student loan debt crisis. On average, nurses graduate with a median student debt of $40,000 to $54,999. For this reason, many nurses turn to student loan forgiveness programs to ease the burden of their unpaid nursing education debt. There are many available nurse loan forgiveness programs, but they …
Paying for a college education is a significant investment of both time and money. According to US News, for the 2021-22 school year, the average tuition for a private institution was $38,185 and $22,698 for a public, out-of-state college. If we factor in the average 6.8% increase in tuition every year, affording the cost of …
If you’ve filed the Free Application for Federal Student Aid (FAFSA) before, you know how tedious and time-consuming the process can be. From asking your parent(s) for tax documents they can’t find to double-checking your social security number even though you swear you have it memorized (which is good practice, so kudos to you), no …
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Every year, the Free Application for Federal Student Aid (FAFSA) opens so students can apply to receive federal student aid like work-study, grants, and federal loans. It’s important that you stay on top of the FAFSA deadlines and submit your financial aid applications annually to maximize your chances of receiving federal student aid. In this …
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Around 1 in 5 Americans hold student loans, which is hardly a surprise. After exhausting your scholarship, grant, work-study, fellowship, and financial aid options, student loans are a plausible option for filling in the gaps in your education costs. Given the nationwide student debt crisis, it’s more important than ever to secure a competitive student …
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Whether you plan to go to college, professional school, or graduate school, you will need to submit the Free Application for Federal Student Aid (FAFSA) to receive aid such as grants, work-study, and federal student loans. Typically, the FAFSA requires you to submit details about both your and your parent(s)’ financial information if you are …
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While having a college degree is extremely beneficial and advantageous in our modern world, many people don’t talk about how costly it can be. Saving for college is in your best interest if you want to be able to pay for your education comfortably, but there are still many ways to make college affordable. Let’s …
If you’re familiar with the U.S. education system, you’ve probably heard about the dreaded AP exams that come around every spring and the notorious College Board that administers them. Depending on your AP exam score, AP courses can count as college credit. But is taking AP classes really worth it, and how do you decide …
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Whether you’re the parent, aunt, or friend of a student who is planning to pursue a higher education, chances are that the student will need a cosigner to be approved for a private student loan. Students usually don’t have long enough credit histories in order to be deemed reliable borrowers. So, most private student lenders …
If you didn’t receive as much financial aid as you expected or need to pay for your education costs, do not panic. Contrary to popular opinion, your financial aid package is not set in stone. You can send a financial aid appeal letter to your institution and have your financial aid package reconsidered. Getting approved …
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Financial aid can come in a variety of forms, such as scholarships, grants, and even student loans. On average, full-time undergraduate students receive roughly $14,800 of financial aid each year.1 So, if you submitted the FAFSA and didn’t receive any financial aid, it may have come as a surprise. What are some reasons you might …
In the 2019-20 academic year, 92%1 of private, newly originated undergraduate student loans were cosigned. Agreeing to cosign a student loan is a great option to bolster a student borrower’s chances of receiving a student loan. It can also help the borrower secure more favorable terms, such as competitive interest rates, preferable repayment options, and …
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Whether you’re well-versed with student loans or know nothing about it, we all want to make the smartest, most cost-effective decision when it comes to our financial circumstances. Refinancing your student loan is a great financial decision and a feasible option for student borrowers, even if you have poor credit. Refinancing, in simple terms, is …
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Your credit score is like the report card of adulthood, except it’s one number based on your creditworthiness, as opposed to letter grades. As a college student, having a bad credit score isn’t optimal when it comes to securing a private student loan. However, don’t lose hope just yet. You still have a variety of options …
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According to NerdWallet, dental school students graduated with an average of $304,824 in debt in 2020. Though the tuition for dental school differs between dental programs, financing dental school tuition can be a hefty and expensive challenge. Scholarships are a great way to minimize this overall debt total. Let’s find out which scholarships are best …
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Want to have a career in law without racking up overwhelming amounts of debt? You have two options if paying out of pocket isn’t possible (which is usually the case for most law school students). 1) You can either move to California, Virginia, Vermont or Washington, which are the only four states in the U.S. …
In 2020, the American Bar Association reported that the average law school student owed $165,000 of debt after graduation. While going to law school is a significant financial investment and timely affair, there are ways to finance your law school tuition without taking out a student loan or paying out of pocket. If you meet …
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Becoming a medical professional is a timely, intensive, and costly affair. With four years of undergraduate education, four years of medical school, and 3-8 years of residency, there’s no doubt that debt can rack up quickly for student borrowers. Among medical school graduates in 2020, the median student loan debt burden was $207,003. While attending …
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