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Student Loans
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There were 7 articles found in this category:
 What is an APR?
APR stands for "Annual Percentage Rate." It is the interest rate on a debt expressed as a yearly rate (rather than a monthly one, for example). The APR was created to make it easier to compare credit offers. Credit cards often have several different APRs -- one for purchases, one for cash advanc ...
- In regards to student loans, what rights does the College Cost Reduction and Access Act give me?
The Department of Education's new Income-Based Repayment program (IBR) gives borrowers with limited incomes some relief from hefty student loan payments. As part of the College Cost Reduction and Access Act of 2007, IBR went into effect on July 1, 2009. Under the rules of the IBR program, the am ...
- What are the types of student loan programs and what is the difference between them?
There are three main sources of financial aid for students: Loans: Must be repaid (usually in monthly installments over the course of 10-20 years) beginning when the student graduates or when the grace period ends. Grants: Gift money that does not need to be repaid. Grants are often provided by ...
- What are private student loans?
Private education loans, also known as alternative loans, are offered independently of the federal student loan program. A private loan is an option to consider after you’ve exhausted your more affordable federal and state lending options. You can usually borrow between $2,000 and $40,000 ...
- Is it a good idea to make extra payments on my student loans?
As a general rule, no, making extra payments on your student loans won’t necessarily help you much, unless you are the type of person that wants to pay off all your debts as soon as possible. However, there are some variables to consider. First, look at the interest you are paying on your ...
- How can I get financial aid if I have already reached my student loan limits?
There is an almost unlimited source of financial aid outside of federal and state student loans. There are also grants and scholarships from local, state, and federal sources, as well as private bank loans. If you’ve already reached your student loan limit, that means you’ve probably ...
- How can I get out of student loan debt?
You will typically have a six-month grace period after graduating before you have to start making student loan payments. If you continue on to another academic program, you can get a loan deferment as long as you are at least a half-time student. If you do not go right back to school, however, g ...
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