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
Student Loans Info
Introduction to Financial Aid
What Is Financial Aid? With today's increasing college costs, traditional funding from personal and family savings may not be enough. Many students will have to rely on outside sources to help finance their post-secondary education. There are many sources of aid available to students and their families - grants, scholarships, loans, internships, work-study, as well as other … [Read more...] about Introduction to Financial Aid
What Happens When You Default on Your Student Loans?
As the economy tanks and employment skyrockets, the number of former students struggling to pay off their student loans is likely to grow, too. While failure to repay any debt can have serious consequences, not making payments on your student loan is especially grave. Here's a quick primer on what it means to default on student loans -- and how to avoid it. What does … [Read more...] about What Happens When You Default on Your Student Loans?
To Borrow or Not to Borrow that is the Question
Student loans are a wonderful and useful tool that you can use to support your college education. The problem is, many students and parents are borrowing to fill in their lifestyle gap and that is not what it was meant to do. Do not borrow more than you absolutely NEED to go to college. On the other hand, you need to borrow enough that you can reduce the hours you work … [Read more...] about To Borrow or Not to Borrow that is the Question
What does your Financial Aid Award Letter Really Mean?
For high school seniors, spring is a nerve-racking season to walk to your mailbox! First, there is the much anticipated acceptance letter. But even more important, there is your financial aid award letter. If you completed the FAFSA and applied for financial aid for the 2011-2012 year, you should be getting your financial aid award letter any day now - if you haven't … [Read more...] about What does your Financial Aid Award Letter Really Mean?