With the cost of education on the rise, every college student has to make some important financial decisions. Not only do you want to seek out scholarships to ease the financial burden, but you also need to decide how much debt you can handle for tuition and student living. Some students take a slower path to work their way through school. Some rush ahead to a high-paying job at the end that will ultimately make debt repayment faster. And these financial decisions are doubly important when it comes to graduate school. If you’ve recently graduated or will graduate soon, no …
Parent PLUS Loans and Other Student Loans for Parents
LendKeyOne of the biggest things on your mind as a parent is probably supporting your child through college. A potential way to do this is by using college savings accounts to save money for tuition, textbooks, and other education-related expenses. However, savings accounts are only useful if you have time to plan ahead for your child’s college education, and enough disposable income that you can comfortably set aside money month-over-month. Fortunately, there are other ways to help your child pay for college: student loans for parents. Usually, when we think of student loans, we think about all the debt being …
Student Loan Benefits for Veterans
LendKeyThe U.S. Department of Veterans Affairs and many private organizations offer education benefits and assistance to veterans and their families. In fact, 25 percent of those benefitting from VAs education programs are non-Veterans. Below is an overview of these benefits. Keep in mind that many colleges and universities also have dedicated resources on campus to assist Veteran students in understanding and obtaining their full benefits. Post-9/11 GI Bill The Post-9/11 GI Bill provides up to 36 months of education benefits for veterans enrolled in both degree and non-degree programs. Recent changes include lifting the 15-year time limit to use the …
Are Private Student Loans the Best Option for You?
LendKeyFor many of today’s students, student loans are the only effective way to get the education you want. You want to get the best possible start in life and ensure that you have the skills and education necessary to jump into the workforce and reach your career goals–and as college tuition prices continue to rise, student loans may be your best avenue for getting there. Before you jump in with student loans, however, it’s important to consider whether federal or private student loans are the right choice for you. What is a Private Student Loan? When most people think of …
The History of Student Loans
LendKeyToday, student loans are an integral part of the college experience. With the rising cost of college, fewer and fewer students are able to afford tuition expenses alongside room and board and textbooks all on their own. Instead, 70 percent of college students are graduating with student loan debt in 2018. However, this hasn’t always been the financial landscape of education. In the past, there were fewer students with student loan debt, and college was generally cheaper than it is today. However, access to college was more limited by a student’s available finances. Early Student Loan Legislation: The GI Bill …
When to Apply for Student Loans: How to Get Student Loans at Any Time
LendKeyStudent loans have started to become the backbone of the modern education system. Now that college has become more expensive, it’s difficult for students without substantial parental support (or large college savings accounts) to afford an education without drawing on student loans. Student loans have made college affordable for many, but federal student loan programs operate with broad rules and regulations. These programs don’t always fit every student, leaving many people who want to pursue a college education needing to find other options. Student Loans Basics There are two types of student loans: federal and private. Federal student loans are …