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.
The National Retail Federation (NRF) reported that families in America spent an average of $630.36 per child on back-to-school needs like electronics, clothing, and school supplies in 2015. That’s less than what parents spent in 2014, but it’s still 42% more than families spent a decade ago. With back-to-school season looming, it’s time to start... Read More
Americans are expected to spend $75.8 billion on back-to-school supplies this year — $7.8 billion more than last year, according to the National Retail Federation’s (NRF) annual survey, conducted by Prosper Insights and Analytics. “Families are still looking for bargains, but there are signs that they are less worried about the economy than in the... Read More
Student loan debt has increased significantly over the last 20 years, from an average among new graduates in 1996 of $12,850 to more than $35,000 in 2016. This debt is having a lasting impact on the financial, personal and emotional lives of graduates, a recent survey by the Student Loan Report found. The survey of 1,220 college... Read More
Wells Fargo is sweetening the deal on its private student loans for members of Amazon Prime Student, both companies announced Wednesday. Amazon Prime Student members who apply for any of Wells Fargo’s private student loan products are eligible for a 0.50% interest rate discount, according to the bank’s site. Members can also get a 0.25% interest rate reduction for enrolling... Read More
It’s getting harder and harder for young Americans to graduate from college and not face a mountain of student loan debt repayments. In fact, a White House report noted that nearly 70% of bachelor’s degree recipients graduate with some level of student loan debt. Krystal Metcalfe, 29, reportedly falls into that category and is dealing... Read More
People starting college in the fall of 2017 probably haven’t yet decided where they’re going to school, let alone figured out how much money they’ll need to do it, but it’s almost time to start applying for financial aid. In the past, students and their families could turn in the Free Application for Federal Student... Read More
Hillary Clinton unveiled her new and improved plan for making higher education more affordable. A few of her policy ideas are refreshed retreads, some others break new ground, and a few don’t do anything at all. For example: 1. “Students should never have to borrow to pay for tuition, books, and fees to attend a... Read More
Federal student loans have grown to become a national problem, with total amounts far surpassing all other types of non-mortgage debt. Even as auto loan and credit card delinquencies remain at historic lows, student loan default rates have remained a consistent problem despite several attempts by the federal government to offer relief and streamline the... Read More
Q. My mother wants to gift my two kids $50,000 each for college. I know there can be tax and financial aid consequences. Any advice on the best way to do this? — Lucky A. Your mother has several options. The best way really depends on what is most important to your mom, said Mary... Read More
Any good news about student loans is sure to raise an eyebrow or two. After all, there aren’t a lot of good things to say about something that’s weighing on Americans’ finances and breaking records like an athlete hopped up on performance-enhancing drugs. Despite that, there seems to be something positive happening in the world of private student loans.... Read More
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