“Can I get a student loan even though I have bad credit?” The simple answer: yes. The more complicated answer: welllll, yes, but it’s going to be trickier. While most federal student loans don’t require you to have a good credit score, or any credit at all, most private student loans, on the other hand, …
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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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Your academic life is so important. The key to being successful this school year is staying on top of yourstudies and taking care of yourself. Below, we collected six simple, accessible tips that can positivelyimpact your studies. Step 1: Set the Scene A great first step toward academic success is ensuring you have a place …
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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 …
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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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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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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As an adult, your credit score matters quite a bit. Whether you’re seeking approval for an apartment, a mortgage, or a car loan, your credit score will be utilized in various important life stages. If your student loans seem to be bringing down your score, you may be wondering how to remove student loans from …
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The short answer is… parents should start saving for college as soon as possible. Nonetheless, figuring out how much to save for college and when to start can be confusing. The answers aren’t always crystal clear. However, saving for college is a massive undertaking that requires a strategic savings plan to reach your goals. If …
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Starting the conversation about paying for college isn’t always easy, especially if you anticipate being met with one big eye-roll. While tough to navigate, it’s an important discussion to have. If you’re not quite sure where to start, here’s a quick guide on how to have the student loan conversation with your child. Start the …
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If you’ve borrowed a student loan to fund your college education, you may be curious about the impact it could have on your credit score. Like other installment loans, student loans can both help and hurt your credit. If you’re diligent about making payments on time, it may give your score a boost. If you’re …
Graduating college is the beginning of a new chapter in your life. You may be moving out of your parents’ house, landing an exciting new job, or heading to graduate school. Regardless, managing your finances post-graduation is crucial in navigating your new adult life. To help keep your finances in order, consider making a college …
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Making student loan payments with a credit card may be tempting, especially if you don’t have the cash to do so — or if you want to earn extra rewards on your card. That said, it isn’t always possible, nor is it recommended in most cases. Before attempting to pay your student loans with a …
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If you’re concerned about your student loan debt affecting your chances of buying a home, you’re not alone. In fact, over a quarter of student debt holders say their debt has impacted their decision or their ability to purchase a home. Here’s what you need to know about buying a house with $100k student loan …
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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 …
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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The average borrower takes 20 years to repay their student loan debt, costing them around $26,000 in interest alone. While it may be tempting to throw all your extra cash toward your student debt to relieve that burden faster, sacrificing investing for retirement to do so may not be the best approach. That said, the …
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The average 4-year in-state college degree will run you nearly $25,000 per year, or over $100,000 for the entire degree. If you’re borrowing student loans to cover this, it’ll likely cost you even more once interest is factored in. Having a job while in school can not only help you manage your college expenses but …
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Soft credit checks (also called “soft pulls” or “soft inquiries”) occur when you or someone you authorize, such as an individual or company, checks your credit report. There are a few common reasons a soft credit check would occur — to prequalify for a loan, for employment background checks, and to check your credit score. …
Interest, often expressed as a percentage, is the cost of borrowing money from a lender. It can be one of two types: simple or compound. The difference between simple and compound interest lies in how they are calculated. While seemingly small differences in their formulas, the type of interest on a loan can drastically change …
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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 …
Navigating adult life is easier with a good credit score. This three-digit number affects nearly every facet of your financial life, from paying for college, to renting an apartment, to buying a car. In this article, we’ll go over everything you need to know about credit, focusing on how your credit score impacts your ability …
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College is a great way to expand your education and go into a career you love. But, it’s also really expensive. According to U.S. News Data, in-state tuition has risen 79% over the last 14 years. And that’s only in-state. The truth is the cost of your college education depends on where you go. That’s …
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According to a report done by the Education Data Initiative, one year of college is currently $35,331, on average. Saving for college, then, is more important than ever. As parents, you want to make sure your child gets a college education with little student loan debt. The best way to do that is to start …
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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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In today’s job market, employee retention is dwindling by the minute. In an effort to keep up, companies are offering more robust benefits, including substantial tuition assistance programs. If your eyes are set on pursuing a higher education, consider working for one of the following companies to help reduce the amount you pay out-of-pocket or …
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Sparrow partners with financial institutions to provide students and their families with a streamlined search and comparison process that helps borrowers find the best private student loan offers in minutes. We believe transparency is key to earning and maintaining borrowers’ trust. That’s why we take who we partner with seriously. The lenders that borrowers choose …
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If the cost of the new shoes you just bought is higher than your credit score, let’s chat. Your credit score impacts your ability to take out loans as well as the interest rate associated with them. If your credit score isn’t as high as you’d like it, or if it isn’t in the range …
Understanding how credit works may feel impossible. A great place to start is by learning the difference between a hard and soft credit inquiry. We’ll give you all the ‘deets below. Important Note Before we dive in, we want to note that credit inquiries are also often referred to as “credit pulls” or “credit …
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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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Looking at your student loan balance is like biting into a chocolate chip cookie only to realize it’s actually oatmeal raisin. Tragic.
An Annual Percentage Rate, or APR, is the interest rate applied on a student loan for the whole year. This number may differ from your interest rate because it takes into account any fees associated with your loan.
We wanted to know what financial regrets college students had so you can avoid them. So, we asked the realest of the real. The best people we know…Our friends. Here are their top financial regrets from college. 1. Not Thinking More About Savings This was by far the most popular response, and it went both …
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Around 43 million Americans owe a grand total of $1.7 trillion on their student loans and unfortunately, this number is projected to increase to roughly $2 trillion by 2022. We all know $1.7 trillion is a massive number, and it’s important to recognize it as what it truly is: a crisis. The weight of student …
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At the end of 2020, the United States reached a new high of $1.7 trillion in student debt. It’s hard to conceptualize just how much $1.7 trillion is, but what we do know is that it’s really, really, really big. How Many People are Impacted by Student Debt? The $1.7 trillion in student debt is held …
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During his 2020 presidential campaign, President Joe Biden emphasized time and time again his plan to cancel student debt. This has sparked a conversation about what this really means and whether or not we should actually do it.
