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The 10 Best Ways to Save Money in College

Isabel Grenci

In College Planning & Financial Aid Managing MoneyIsabel Grenci

College can be an enjoyable time for many students, and it can also be accompanied by financial stress. So, keeping track of your finances should be a priority early on. Don’t worry; it is entirely possible to have a great college experience without breaking the bank. You might even be able to build up some savings to help you repay your student loans after college. It’s all about having a plan and sticking to it. Here’s what you can do to help ease the financial burden associated with higher education. 1. Rent your Textbooks, Don’t Buy Textbook rental is becoming …

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5 Steps to Take After Your Student Loans Are Paid in Full

LendKey

In Managing MoneyLendKey

Launch the confetti cannons and blow the party horns — you’ve paid off your student loans! You’ve accomplished a task that may have been 10 or more years in the making. With the average monthly student loan payment hovering close to $400, your last payment likely freed up significant room in your budget. But before you blow those extra funds on a weekend getaway or luxury purchase, take a breath and figure out your next financial steps.   Check Your Credit Reports Lenders and creditors rely on your credit history report to determine what type of credit risk you may …

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Meet Alexis: Who Saved $50,000 By Refinancing Her Student Loans

Broc Sleek

In Managing Money Student Loan Refinancing Options TestimonialBroc Sleek

A typical day for Alexis Kuhner involves tending to her full house of pets and enjoying life with her husband. You can find her reading, exploring the city, or researching their next travel destination. Alexis’s Journey Since graduating from the University of Scranton in 2016, she has assumed many roles in the financial industry and currently resides in Brampton, New York. “I never thought that I would be interested in the accounting role that I currently hold,” says Alexis, “I love it, and it keeps me on my toes.” A native to Philadelphia, Alexis holds a Bachelor of Business Administration. …

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What is the Maximum Amount of Loans I Can Take On?

Broc Sleek

In College Planning & Financial Aid Managing MoneyBroc Sleek

How can I pay for school? The maximum amount of loans to qualify for depends on your unique financial situation. As you start to apply for student loans, keep in mind that you should only borrow the money you actually need. Don’t get into debt over your head. Are you wondering about the maximum amount you could borrow? Curious about how you can use student loans? Before you start planning, take a look at this overview. Federal Student Loan Limit Federal student loans are loans made to college students by the government, and they can be subsidized or unsubsidized. What …

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How Do I Fund Graduate School?

Broc Sleek

In College Planning & Financial Aid General Getting a Student Loan Managing MoneyBroc Sleek

After graduating from college, continuing education through a graduate school is an excellent option for many. Perhaps you want to become more competitive in the job market, desire to explore a new field, or even move to a higher pay grade. Regardless of why you want to go to graduate school, the how can be decidedly more complicated. Is Graduate School Right for Me? There is no “one size fits all” answer to this question. While four-year degrees are satisfactory for many majors and careers, other fields may highly encourage or require grad school to achieve career goals, particularly in specific areas such as …

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How to Save Money During the Holidays

Broc Sleek

In Managing MoneyBroc Sleek

The holiday season is finally here! While the circumstances may look a bit different from years past, there are still plenty of reasons to celebrate. The cost of ice skating, gift shopping, and other holiday festivities can quickly add up if you do not keep your eye on them. As the dollar signs pile up, you may be left financially scrambling during the early months of 2021. Want to get the most bang for your buck this holiday season? Let’s explore some helpful tips and tricks.  Prepare a Holiday Budget The first step in any money-saving venture involves making a …

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Independent vs. Dependent: How it Affects Your Student Loans

Broc Sleek

In College Planning & Financial Aid Managing MoneyBroc Sleek

When filling out the Free Application for Federal Student Aid (FAFSA) for the first time, you may have several pressing questions. One of them is: are you an independent or dependent student? There’s no one-size-fits-all answer to this question, and your response can significantly impact how much federal financial aid you’ll be eligible to receive. Learn more about what goes into these classifications, how they can affect your assistance, and changing your status if it doesn’t accurately reflect your situation. What Difference Does Independent vs. Dependent Make?  The FAFSA uses a student’s dependency status to calculate how much aid the …

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How to Manage Student Loan Debt in School

LendKey

In College Planning & Financial Aid General Managing MoneyLendKey

With student loans, you commonly aren’t expected to begin paying back the money you borrowed until after you graduate. This makes sense because the idea is that you’ll hopefully have a full-time job with a steady income after you finish school. In reality, it’s never too early to begin managing your student loan debt. Rather than borrowing aimlessly and worrying about it after you graduate, having a game plan for managing (and even beginning to repay) debt while you’re in school can work to your advantage. Not sure where to start? We’ve got some practical tips for understanding the loans you’re taking …

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6 Everyday Expenses That Can Sneak Up on You

LendKey

In General Managing Money Student Loan Refinancing OptionsLendKey

Do you ever feel like you’re watching your budget and have everything figured out, only to be hit with a surprise auto repair or medical bill? Whether you’re dealing with seasonal expenses, lifestyle creep, or emergencies, unexpected costs can often set you back for months. Which everyday expenses are most likely to catch you unprepared, and what can you do to fit these costs into your budget? 1. Subscription Services While subscription services and memberships can provide an inexpensive source of entertainment, too many $10 or $20 monthly subscriptions can add up, especially nowadays. From gym memberships to music streaming …

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Savings Accounts: What’s Right for You

LendKey

In General Managing MoneyLendKey

A savings account is an opportunity to safely tuck money away that you don’t need for routine and daily purchases. They allow you to save money for the future, whether that’s saving for college, a house, a car, or a vacation. The longer you save, the better that’s because a majority of savings accounts earn interest, which means their value grows as long as there are funds in them. It’s quite different from a checking account. But what is it, and why is it so valuable to you? What Is a Savings Account? Unlike checking accounts that are designed to …

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How to Build Credit as a Student

LendKey

In General Managing MoneyLendKey

Looking for ways to start building your credit at a young age? If so, you’re already ahead of the game. Getting started on the right foot financially can potentially make things a lot easier for you down the road. Generally, people with established credit have an easier time getting approved for loans. This can be anything from a car loan or student loan to a mortgage, or even a business loan. An excellent credit score can also help you secure a low-interest rate, which allows you to save money over time. What is a credit score, anyway? In simplest terms, …

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Managing Student Loan Debt During COVID-19

LendKey

In Managing MoneyLendKey

Breathe in. Breathe out. We know there is a lot of uncertainty as the world faces the challenges and realities of COVID-19. While many of us are working remotely or facing job uncertainty, transferring our schooling online, and putting many aspects of our life on hold, the reality is that not everything can come to a full stop. Student loan debt reached another all-time high back in 2019 and many graduates are looking into options to repay their debt. On top of the various repayment options available to borrowers, the government has been announcing new, short term but open-ended policies …