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The Top 5 Benefits of Extracurricular Activities

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In College Planning & Financial Aid GeneralLendKey

If you’re looking to learn about the benefits of extracurricular activities, you probably already know how valuable they can be. But what exactly are extracurricular activities, and just how important are they? “Extracurricular activities” refer to any regular activities that you commit to outside of the regular school curriculum. This can mean involvement with any number of clubs, teams, associations, and charities. Activities such as theater and sports qualify as extracurriculars. Even self-driven pastimes such as writing and moviemaking count, as long as you can confirm that you have spent a significant amount of time on them. The college admissions …

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Student Loans for Pharmacy School: What You Need to Know

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In College Planning & Financial Aid Getting a Student LoanLendKey

If you’re looking for a career in the health field that is both fulfilling and generally well-compensated, pursuing a pharmacy degree can be a great decision. According to PayScale.com, the current average salary for a graduate with a Doctor of Pharmacy (PharmD) degree is $121,000 per year. Jobs can range anywhere from a pharmacist, clinical pharmacist, or pharmacy director to pharmacy manager or hospital pharmacy director. However, pharmacy school itself is six years long and can be quite pricy. Today we’re going to discuss student loans specifically as they apply to pharmacy school. Pharmacy Degrees and Student Loans While pursuing …

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Things to Consider When Exploring Private Student Loans

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In College Planning & Financial Aid Getting a Student LoanLendKey

If you need to borrow money to afford college, you’re not alone. Today, more than 44 million people in the United States hold some form of student loan debt, and the total student loan debt balance nationwide hovers around $1.5 trillion. The good news? There are plenty of student loan options available, so you can find the one that best suits your needs. And while Federal loans still make up the majority of student loan debt in America, it is estimated that about 11% of today’s student loans come from private lenders. Not sure whether a private student loan is …

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Funding Your Study Abroad Experience: What You Need to Know

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In College Planning & Financial AidLendKey

No matter what your program of study is, spending a semester or more studying abroad can be an incredible and enriching experience. Specifically, a study abroad experience can give you a unique opportunity to see the world. You’ll immerse yourself in a new culture that might change your worldview as you learn about a different country both inside and outside the classroom. You might even pick up some new hobbies or languages along the way, and some study abroad programs even offer specialized courses that aren’t available at your current school. Finally, a study abroad experience can also help your …

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Your Guide to Covering College Living Expenses

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In College Planning & Financial Aid Getting a Student LoanLendKey

From registering for classes to taking out student loans to covering your tuition, preparing for college is quite a process. Unfortunately, many college students overlook the importance of planning for day-to-day living expenses, which can put them in a tricky financial situation when the academic year kicks off. While tuition, room, and board will likely be your biggest expenses throughout college, smaller living expenses add up. With this in mind, it’s best to budget for these costs and have a plan for covering them while you’re in school. By preparing for your college living expenses now, you can better enjoy …

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When to Apply for Student Loans

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In College Planning & Financial Aid Getting a Student LoanLendKey

In 2018, about 69% of all college students took out some type of student loan. This statistic, which includes both private loans and federal student loans, demonstrates how much students rely on this type of financial assistance to attend college. But student loans don’t automatically appear, even if you’re more than qualified to receive them. Finding and applying for student loans is a very specific process that, while maybe enabling you to attend the school of your choice, also obligates you and your cosigner (if applicable) to repay a debt. To get the financial assistance you need, below are some …

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Variable vs. Fixed Student Loan Rates

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In College Planning & Financial Aid Getting a Student LoanLendKey

Taking out student loans for the first time can be overwhelming, especially when you receive loads of advice from every direction about interest rates, lenders, and loan terms. We can help you break down interest rates quickly so that you can get back to enjoying your last summer before college. What is an Interest Rate? When you take out any kind of student loan, there are certain conditions attached. One of those conditions is interest. Interest is the amount of money you pay to the lender in exchange for taking out a loan. It is usually expressed as a percentage, …

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Mixing Federal and Private Student Loans

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In College Planning & Financial Aid Getting a Student LoanLendKey

The cost of college has increased dramatically since the days your parents attended college. It’s not uncommon to need a bit of help financing it. At this point, you’ve applied for scholarships and grants, and have pooled your savings. You may have gone as far as to take out federal student loans. And what if you still can’t finance the full cost of your college education? After taking out federal loans, many students supplement them with private loans. Some students even skip federal loans and borrow all they need from private lenders such as banks and credit unions if they …

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Federal vs. Private Student Loans

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In College Planning & Financial Aid Getting a Student LoanLendKey

At last, the college admissions process is over. You’ve filled out your FAFSA, chosen your school, and gathered your scholarships. If you’re like most students, scholarships, savings, and financial aid probably don’t cover the entire cost of your education. Aside from tuition, there’s room and board, living expenses, textbooks – the list goes on. One option is to supplement your funds with student loans. It may seem scary at first, but we’re here to break down the two main types of student loans. Federal vs. Private Student Loans The two major categories of student loans are private student loans and …

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How High School Students Can Plan to Pay Off Student Loans

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In College Planning & Financial Aid Getting a Student LoanLendKey

The subject of whether a high school graduate should attend college has become controversial, particularly in recent years. Some argue that college isn’t quite as “necessary” as it once was. This is particularly true due to the state of the job market and the rising costs of college in the United States. However, this argument isn’t necessarily supported by facts – or at least, by current statistics. The Value of a College Education: Breaking Things Down According to NCES, employment rates were higher in 2017 for 25 to 34-year-olds who had obtained higher levels of education versus those who hadn’t. …

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A Freshman’s Guide: Student Loan Basics

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In College Planning & Financial Aid Getting a Student LoanLendKey

So you’ve chosen your dream school but it’s too expensive to pay out of pocket. Even if you were fortunate enough to have received financial aid, scholarships, or grants, you still may need to fill the gap with loans. If you don’t know much about loans and aren’t sure how to apply for them, don’t worry – you’re not alone! Most American students are not required to take personal finance courses in high school. Furthermore, you probably were never in a position where you had to pay for something as costly as a college education. This can make things like …

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A Guide to Scholarships and Grants

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In College Planning & Financial AidLendKey

College education has been a dream for parents and their children for generations. Students work hard to get into their choice colleges and to make their parents proud. However, with higher education costs on the rise, how they’re going to pay for it becomes the next big obstacle. Luckily, financial aid money is sometimes available and has benefitted countless students. According to a recent study, about $123 billion worth of scholarships and grants were awarded during the 2013/2014 school year. The majority of those came from the federal government (40%), followed by colleges and universities themselves (39%). Private sources accounted …