If you've been listening to the news you might have heard that there are historically low interest rates. With that good news, it might come as a surprise to you when you look at interest rates for federal student loans. Starting July 1, interest rates for the Direct Subsidized and Unsubsidized student loans are going to 6.8% and the Direct Parent Plus Loan is going to … [Read more...] about Private Loan vs. the Parent Plus
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How to Avoid Defaulting On Student Loan Payments
Are you a graduating senior? Congratulations! You are about to enter the "real world." That's the good news. The bad news is the economy is still unstable - and the graduating class is graduating with a higher student loan burden than any class in history. Not only is harder than ever to find a job - but unemployment is making it even harder to deal with … [Read more...] about How to Avoid Defaulting On Student Loan Payments
7 Creative Ways to Pay for College
This story about creative financing for college ran over the weekend in my local paper. The article does a great job of outlining some of the financial challenges families are facing in the midst of this country's economic crisis. It was good to see that staying in school is still a priority for the two families featured in the piece, but rather heart-wrenching to read the … [Read more...] about 7 Creative Ways to Pay for College
50 Colleges Pledge No Loans for Their Students
At least 50 colleges have signed a pledge that they will remain fully committed to meeting their students' financial aid needs without necessitating student loans -- regardless of the impact of the economic crisis on their endowments, reports the non-profit Project on Student Debt. Although there are thousands of colleges and universities across the United States, these 50 … [Read more...] about 50 Colleges Pledge No Loans for Their Students
Direct Loan Program Interest Rate Going Up
On July 1, 2012, many changes to the Federal Direct Loan program took effect. While the talk of the increase in interest rates has been discussed on whatever news source you choose to access today, other changes are set to take place, as well, that might take many student's by surprise. The Direct Subsidized Loan for Undergrad Students The biggest change that is set to take … [Read more...] about Direct Loan Program Interest Rate Going Up