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Student Loans

Our blog is designed to provide information regarding some of the critical topics those with student loans must be aware of to be able to make educated decisions regarding their future.

Is Joe Biden Canceling All Student Loans?

A few Democratic lawmakers want Biden to issue an executive order that would cancel $50,000 in federal student loan debt for borrowers earning under $125,000. There is much debate surrounding whether Biden can forgive student debt using an executive order or if the proposal would need to pass through Congress. Some argue that Biden can’t just forgive $50,000…

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Guide to a Cash-Out Refinance for Student Loans

Do you have a house and student loans? A student loan cash-out refinance mortgage might make managing your student debt a little easier. With a student loan cash-out refinance mortgage, you refinance your home and use your home’s equity to repay your student debt. In other words, the money from the refinanced home loan pays off your current…

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A married couple reviewing their student loan debt

What Happens When You Miss a Student Loan Payment?

Federal student loan payments resume in just a few short weeks unless Congress takes further action. If you’re worried about the coronavirus administrative forbearance ending, you might be wondering what would happen if you fell behind on your payments. Below, we’ll cover what happens when you miss a student loan payment and tips on how to stay current…

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Blocks of letters spelling "refinance".

Can I Refinance My Student Loans After a Consolidation?

Actively managing your student loans by consolidating or refinancing can help you save money, free up your monthly budget, and/or pay off your loans faster. If you’ve already federally or privately consolidated your student loans, you might be wondering, “can I refinance my student loans after a consolidation?” In short, the answer to that question is “yes.” As…

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Variable Student Loan Interest Rates – 4 Things to Watch Out For

Whether you’re borrowing a private student loan or refinancing your student loans, you have a choice to make. Do you go with a variable or a fixed interest rate loan? Variable student loan interest rates can change multiple times per year as the market changes. Many private student loan lenders set rates based on the London Interbank Offered…

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What are the 2021 Federal Student Loan Interest Rates?

Interest rates for federal student loans dropped to all-time lows for the 2020-2021 school year. Borrowing from the federal government to cover educational costs is now cheaper than ever before. Let’s take a look at the 2021 federal student loan interest rates, how interest rates for federal student loans work, and a few student loan interest rate FAQs.…

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A List of Federal Loan Servicers 2021-2022

You borrow federal student loans from the government, but the Department of Education doesn’t service those loans. Instead, that duty is contracted out to qualified financial companies and loan servicers. The loan servicers collect your payments and provide customer service. The Department of Education still oversees the federal student loan program, though. So, they’re responsible for handling contracts,…

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You Can Get Financial Aid as a Part-Time Student

7.7 million students were expected to attend a college or university part-time in fall 2020. Attending college part-time just makes sense for a lot of students, especially if you’re hoping to avoid student loans. Part-time students take fewer courses each semester, so their bill isn’t as high. Fortunately, as a part-time student, you might still qualify for federal…

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a father with his graduating daughter being happy

8 Things a Parent Should Ask Themselves Before Taking Out Parent PLUS Loans

College is expensive. For the 2019 to 2020 academic year, families reported paying an average of $30,017 on higher education expenses. Given the steep cost, it’s no wonder that parents need to borrow to help support their child’s educational endeavors. If that’s you, you’re probably thinking about borrowing a Parent Plus Loan—a loan product designed for parents that…

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Which is Better: Subsidized or Unsubsidized Student Loans?

You finally have your financial aid award letters…but wait! Why are there two types of federal student loans listed? Apparently, you’re eligible to receive subsidized student loans and unsubsidized student loans from the federal government through the Direct Loan program. If you’re wondering, should I borrow subsidized or unsubsidized student loans, the answer is this: prioritize subsidized, but…

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