Once the ED processes your FAFSA , you can login to StudentAid.gov to review your FAFSA . This summary will include your provided answers to the questions on the form, your SAI calculation, and your Federal Pell Grant eligibility. It’s important that you review your FAFSA® Submission Summary when it’s available to ensure all of your information is complete and accurate.
The U.S. Department of Education offers students several different federal student loan options to help pay for college, which are made available to eligible students based on the information they supply on the Free Application for Federal Student Aid (FAFSA® ). These loans are designed specifically for students and can come with numerous advantages over private student loans, including potentially easier accessibility, set interest rates, and flexible repayment options. Let’s dive into some general benefits of federal student loans. ...
College can be a substantial financial commitment, and if your parents are looking to support you through your journey, they may want to explore all of the options that could be available to them to help pay for your education, including parent PLUS loans issued by the federal government. Continue reading to learn more about parent PLUS loans and what you and your parents might want to know if they're interested in applying for one. Parent PLUS loans are officially called Federal Direct PLUS Loans (they're called parent PLUS loans unofficially ...
So, you need funds to help pay for college, but unfortunately, you have bad credit (or no credit). Don’t worry, you’re probably not out of options to help pay for college. As a refresher, a credit score is a numerical assessment of a borrower’s creditworthiness, falling within a range of 300 to 850. A higher score indicates to lenders that a person has greater financial reliability and trustworthiness. Keep reading as we delve into the options you may want to consider if you have a less-than-stellar credit score or no credit score and nee ...
You may hear the terms refinancing and consolidation regarding student loans. These are important options, as you may want to consider one of them for various reasons, including if you’re struggling to pay off your student loans. In this article, we’ll break down the differences between consolidation and refinancing and the pros and cons. As you consider your options, you may want to seek guidance from a financial adviser to make the most informed decision for your situation. Although the te...
Both federal and private student loans can help students pay for college. Since loans need to be paid back to the lender (in most cases), it’s essential to carefully understand and weigh your options to help yourself make smart choices about what loans to apply for to help pay for school, if any. After all, student loans are something you might find yourself dealing with financially for many years. Continue reading to learn more about some key differences between these two types of loans. ...
Quick insights ; If you’re considering your the next step in your education but aren’t sure if your bad or poor credit may impact your journey, there is a light at the end of the tunnel. In short, yes—you can get student loans with bad or poor credit, sometimes even with no credit. Become an authorized user on a credit card in good standing. Perhaps on a credit card account of an established user, like a parent or family member. Sometimes you can get your own card in order to establish your credit behavior ...
If you’re interested in attending trade school — like cosmetology school — one question you might be wondering is if you can access financial aid, particularly federal financial aid. The short answer is as long as your cosmetology school and specific program are accredited, you’ll be eligible for federal financial aid. In this article, we’ll cover what cosmetology school costs and how to access financial aid, including scholarships and loans. Keep reading to learn more. Going to any school is a financial decision, including cosmetolog ...
Federal student loans need to be paid back based on the terms outlined in your Master Promissory Note, which you sign when you first agree to the loan. If your federal student loan isn’t forgiven, canceled, or discharged, you’ll remain responsible for repaying your loan. You’re still responsible for repaying a federal student loan even if you obtained and signed a Master Promissory Note when you were under the age of 18. There are a few exceptions to the general expectation that federal student loans must be repaid. These include if you ...
Making your payment plan work for you ; A student loan can be one of the biggest long-term debts you might take on. Like a mortgage or auto loan, lenders expect you to make on-time payments on a student loan until it's paid off. Missing a payment can impact your credit. Let's review student loan types and explore some different payment strategies. There are two primary loan types that can help you pay for college if you apply and are approved: federal and private loans. Here's the difference bet...