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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.

How Coronavirus Impacts Your Student Loans

The economic shutdown caused by the coronavirus has caused 20.5 million Americans to lose their jobs in April alone.  This led to an unemployment rate of 14.7% for the month of April (reported May 8th), the highest unemployment this country has seen since 1936.  Thankfully the U.S. government has been responsive and quickly passed the CARES Act.  Continue reading…

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Transfering private to federal loans

Can I Refinance a Loan I Cosigned? Here’s What You Need to Know

Many parents act as cosigners to help their children qualify for private student loans, or to help them get better interest rates. If you cosigned a loan, you’re responsible for repaying the debt if the primary signer stops making payments. And if that’s the case, you might eventually question whether or not it’s possible to refinance a cosigned…

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Transfering private to federal loans

Can I Transfer Private Student Loans To Federal Loans?

If you’re seeking federal student loan forgiveness or are on an income-based repayment plan, you’re probably wondering if you can apply those federal protections to your private student loans. Unfortunately, you can’t. It isn’t possible to transfer private student loans to federal loans. That means you can’t have private loans forgiven through public service student loan forgiveness, and…

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A chase bank brick and mortar storefront

What Happened to Chase Private Student Loans? Plus Some Alternatives

JPMorgan Chase is the largest financial entity in the United States. Until a few years ago, it was also one of the largest lenders of both private and federal student loans. In April of 2017, Chase Bank sold its private student loan portfolio to Navient. If you had Chase private student loans, that means your account transferred over…

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Statute of Limitations on Private Student Loans

Although not a likely scenario, it is possible to get out of paying back your private student loans in full. It all comes down to your state’s statute of limitations on private student loans, and your willingness to accept risk. When the statute of limitations expires, your lender can longer sue you for the unpaid debt, which means…

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citizens bank brick and mortar location

Citizens Bank Private Student Loans: What You Need to Know

If you’re searching for a private student loan, or you want to refinance your student debt, you might be considering Citizens Bank. Citizens Bank is one of the most traditional, brick-and-mortar lenders in the industry. Founded in 1828, the company ranks as one of the country’s largest lenders for student loans. But that doesn’t mean Citizens Bank private…

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Sallie Mae Building and Logo

Sallie Mae Student Loans – Is it Really the Loan You Need?

When you think about student loans, it’s likely that Sallie Mae comes immediately to mind. This company started out as a government-sponsored enterprise but went private in 2004. In 2014, Sallie Mae split into two companies—Navient Corporation, a federal student loan servicer, and Sallie Mae, a private student loan lender. But, just because you recognize the name, doesn’t…

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What is a Private Student Loan? Everything You Need to Know

It’s no secret: college is expensive. Few students can afford to pay tuition and living expenses out of pocket. Instead, they rely on other funds to pay for school, including student loans. When you research student loans, you’ll see that there are two different types: federal and private. So what is a private student loan, exactly? In this…

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wells fargo logo on a window

Wells Fargo Private Student Loan – Things You Need to know

Wells Fargo advertises competitive interest rates and benefits like deferred payments while you’re still in school, but does this company do enough to help and protect its borrowers? Let’s look at Wells Fargo’s terms, eligibility criteria, and borrower protections to see if going with Wells Fargo is really your best option. Overview of Wells Fargo Private Student Loans…

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Average Private Student Loan Interest Rates

College costs keep rising, leaving students like you with a need to borrow money to finance your education. Make borrowing as inexpensive as possible by choosing a private student loan with a low interest rate. A lower interest rate can save you thousands of dollars over the life of the loan. But how low do interest rates go?…

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