As this year’s class of college seniors prepares to graduate, they may (and should) be wondering about repaying their student loans.
This video from the office of Federal Student Aid provides a good breakdown of your options for repaying student loans, including consolidation and alternative repayment plans.
In the wake of the recent college admissions scandal, many people are wondering whether it actually matters what college you go to.
For these parents, it was extremely important that their child got into a prestigious school at all costs. Clearly, they didn’t go about it the right way, but the pressure to have their child attend an “elite” college was great enough to motivate them to take drastic measures.
But does your school even matter? Does attending an elite college actually lead to better outcomes after graduating?
While the general trend is for college costs to rise each year, some private colleges have decided to buck the trend by significantly lowering tuition costs, according to a recent CBSNews article.
Two dozen private colleges have cut tuition since 2016, according to the National Association of Independent Colleges and Universities.
The Free Application for Federal Student Aid (FAFSA) is now available for the 2019-20 school year.
All students attending college in fall 2019 and/or spring 2020 should use this application to apply for financial aid. Watch this video for step-by-step instructions on how to complete the form.
Few students can afford the high price of college without financial aid. So for prospective college students and families, it’s crucial to know which schools award the most aid before applying to college.
The Princeton Review recently ranked colleges based on students’ ratings of overall satisfaction with their financial aid packages at the 384 best colleges in the U.S. According to their analysis, these are the best colleges for financial aid in 2018:
As the cost of college has risen, the burden of paying for it has fallen on students more than ever.
CNBC reports that college students are saving an average of $7,801, according to the second edition of the Allianz Tuition Insurance College Confidence Index.
That’s up 17% from $6,678 in 2017.
A new bill passed by Congress will make it easier for student loan borrowers to qualify for student loan forgiveness, CNBC reports.
The bill gives the Department of Education $350 million to offer forgiveness to student loan borrowers who meet all requirements for public service loan forgiveness except that they were enrolled in graduated or extended repayment plans, which were ineligible for relief.
Most people understand that student loans come with interest — which can add several thousand dollars onto the life of the loan, especially if you extend out your payments.
But many people don’t realize that federal student loans also come with origination fees, much like mortgages or car loans, which can add significantly to student debt totals.
Since it’s now been six months since May college graduates left school, it’s time for them to confront the reality of paying off their student debt. The end of the student loan grace period means that students will start receiving bills from their student loan servicers.
Here’s how to take control of your student debt once your grace period is over — and what you can do before to make it easier.