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.
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
Last month, the Department of Education announced a new set of directives to target systemic problems that have plagued federal loan servicing for years. Will the new recommendations help, or will they end up being just another stack of papers piled on to an already labyrinthine federal loan bureaucracy? How Borrowers Are Shortchanged One of the main... Read More
Earlier this month, another report on the high rate of student loan defaults once again triggered a great deal of discussion. Bloomberg followed this up with an article that parses the problem: defaults by borrowers who failed to complete their studies versus those who did, where the rate of default for the dropouts is many... Read More
Every time I read the news, I hear how America’s problems with student loan debt have gotten worse. For example, I learned recently that collective student loan debt surged to over $1.4 trillion nationally. And in an article in the Wall Street Journal, I learned that more than 7 million student borrowers were at least one year behind on... Read More
Free online courses have been available through the Massachusetts Institute of Technology for the last several years, but students taking those courses were out of luck if they wanted them to count toward a degree. That’s all changed, however. A new pilot program is allowing students to take a semester of online graduate courses in the... Read More
With back-to-school season now in full swing, the last thing on students’ minds is finding a job. But with more college graduates being saddled with student loan debt, landing a job isn’t just a goal but an imperative. Student loan borrowers in the class of 2016 have an average debt of $37,172, which, as we reported earlier this year,... Read More
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