Our Credit.com experts provide you with common sense student loan advice. Find out what to consider & how to get the best deals when shopping for loans or credit cards to finance college. Understand the impact of deferring student loans, how to manage your payments during college and post-college and how student loans can affect your credit.
Putting money aside for any type of financial goal — whether it’s a new car, house or even that pair of shoes you’ve been dreaming of — is a great accomplishment. Sometimes all you need is a few months to save, while other times it can take decades. Such is the case with paying for... Read More
When you start repaying a student loan, it’s a bit of a buzzkill to see a large chunk of money come out of your bank account. Month after month, you kiss that $350 goodbye (or whatever your regular payment is), trying not to think about everything else you could’ve used it for. Eventually, you get... Read More
It’s not unrealistic for a student starting college this fall to end up with more than $100,000 in student loan debt by the time they’ve earned a bachelor’s degree. The average annual tuition and fees at a private, four-year college is $32,410, according to the College Board, and that doesn’t include money to pay for... Read More
A for-profit school that allegedly told students their loans would only cost $25 per month to repay must now forgive those loans, federal regulators announced Monday. The firm, publicly-traded Bridgepoint Education Inc., has agreed to discharge all outstanding private loans and refund some students after allegations that it engaged in unfair or deceptive practices, the... Read More
When parents drop their children off at college they often celebrate the start of a new chapter in their lives and breathe a sigh of relief because, after helping guide their child through high school, paying their tuition, and outfitting their dorm room or apartment, they figure that they have done all that they can... Read More
If you have student loans and have looked at your credit reports, you might’ve noticed there are multiple entries for your loans. That’s because each disbursement can be reported as a separate loan, even if you make just one repayment each month. And while a student may get just one federal loan for the year, it... Read More
Wells Fargo and Amazon appear to have ended their private student loan partnership. Just six weeks after announcing that Amazon Prime members were eligible for interest rate discounts on the bank’s private student loan products, traces of the deal were removed from the online retailer’s student-centric site. Wells’ previously Amazon-focused landing page also now redirects to... Read More
It’s no secret that a college education is expensive, and many students have no idea how to cope with the expense. Tuition and fees aren’t the only considerations: there are overlooked costs that can add up quickly and become long-term debt. Graduating with mortgage-sized loans will affect your credit score, which in turn will affect... Read More
Many private student lenders are making a big push for a piece of the student loan refinancing pie. Banks and venture capital-backed nonbank financial services companies are hard at work slicing and dicing that trillion-dollar market into bite-size, demographically based refinancing opportunities. Their primary targets? Borrowers who have the best longer-term earnings potential because of... Read More
When people think of credit cards and college students, they don’t often conjure up an image of a responsible young adult, either because of stereotypes they’ve been exposed to or their own negative experiences. In reality, college students generally do a decent job managing their credit cards — at least, that’s what one survey suggests.... Read More
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