There are so many decisions to make during the college planning process; it's easy to get overwhelmed. By the time you need to finance your own or your child's education, you may have reached decision fatigue. All too often, decision fatigue leads to inaction, analysis paralysis, or a hastily-made choice - none of which are likely to result in the best of outcomes.
Choosing your student loan lender is a big deal. This is an organization you are likely to work with over the next 5 - 20 years of your life. Conventional wisdom may inspire you to simply compare rates, choose the lowest, and get the whole process over with quickly. Or maybe you just plan to go to your bank to keep all of your finances in one place. But there can be some major differences in the rates, fees, level of service, and benefits student loan providers offer, so doing a more thorough comparison is a wise move.
Don't be one of the many borrowers filled with regret about their choice of lender. We've put together the below guide to help you select a student loan provider that you'll be happy with. It may take a little bit more of your time, but it will be well worth your effort in the long run.
Not too long ago, I was getting ready to head off to college and I remember struggling with what to pack and what to leave behind. You may think that you're going to need all 4 seasons worth of clothing and those shoes that you only wear once a year. But the reality is, you never use everything that you bring to college with you! It's time to narrow down your packing list and only bring the necessities! I've come up with the 10 best things that I brought to college and that you should bring too.
August is considered the "kick-off" month for applying to colleges because the Common Application is released the first of the month. Senior year is a busy time and it is extremely important that you stay organized so you can successfully navigate the college admissions process. This means it is time to get all your ducks in a row and come up with a solid plan for applying to colleges.
RISLA is excited to be part of a new online tool to help families plan and pay for college. The tool — foryounotforprofit.org — will help families more easily navigate the process of planning, saving, and paying for college.
Students and parents beware. What you hear about student loans - from friends, family, or even the media - isn't always true. We have outlined some common student loan myths and the truth behind them.
Myth #1: It doesn't matter how much I borrow - my loans will be forgiven.
According to a survey by LendEDU, more than half of student loan borrowers in the class of 2017 believed that their student loans would be forgiven. But as LendEDU notes, "There simply aren't enough public service and non-profit jobs that would qualify for forgiveness as compared to the jobs that don't qualify" for this to be true.
"What's concerning about this apparent lack of understanding of student loan forgiveness is that borrowers may slack off on making payments or actively trying to pay down their debt if they think it will eventually just be wiped away. This can lead to a higher total loan cost, or even worse, default." according to LendEDU.
Our take? Always be a responsible borrower. Enroll in an income-driven repayment program if it helps to make ends meet or if you are working for a non-profit organization, but don't count on loan forgiveness until you have done your research and submitted an application and are certain you meet the qualifications.
We get tons of questions on a regular basis regarding student loan refinancing. If you have questions, we have answers! If you don't see your question below, feel free to write to us at email@example.com.