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Statistics on Student Loans in the US

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In Getting a Student LoanLendKey

Congrats, you just graduated from high school! Here are some recent statistics on student loans that you should know about as you progress towards a college degree. 1. Average Tuition Keeps Climbing Pursuing a higher education has become the norm for most high school students even though the costs associated with it continues to rise. In the 2014-2015 school year, the average yearly tuition for public, in-state 4-year colleges and universities was $9,130. That’s up $254 from the previous school year, an increase of 2.9%. For out-of-state students at public institutions, the average yearly tuition was $22,958, up 3.3% from the …

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Your Quick Guide to Federal and Private Student Loans

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In Getting a Student LoanLendKey

When you’re preparing to pay for college, it can feel like piecing a patchwork quilt together. If you’re like most students, you’ll need to supplement your savings and scholarship money by taking out some student loans. Here’s a brief introduction to the student loan options available to help fund your education. Federal Student Loans Several different kinds of federal loans are offered to students and their parents. Federal loans offered directly to students generally do not require a credit history or cosigners and they have fixed interest rates. Details on each of these loans can be found on the Federal …

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Why Private Student Loans Could Be a Better Deal Than Federal Loans

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In Getting a Student LoanLendKey

If you need to borrow for college, knowing your credit score can help you determine which loans are best for you! According to recent blog article by Credit.com, “Undergraduates should generally heed the advice of sticking to federal loans, but parents and graduate students may be able to find a better deal with private lenders. It depends on your specific situation, and you’ll want to carefully compare your options, but if you have a great credit history, you may want to go for private student loans rather than a federal PLUS loan. Here’s why. People with great credit scores may …

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The Perkins Loan

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In Getting a Student LoanLendKey

When you are financing college you will find that there are many options for student loans. With private student loans and federal student loans and even grants, there is a lot to process. What many student don’t realize is that there are federal loans and other types of financial aid that are not as well known. The Federal Perkins Loan Program is one such financial aid option and it can make a big difference for a student who is going through an undergraduate or graduate program. This loan is different from other federal loan programs like the Direct Subsidized and …

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Borrowing Money to Study Abroad

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In Getting a Student LoanLendKey

Studying abroad can be a life-changing experience that can enrich you and forever affect the view you have of the world. But should you borrow money to pay for it? When considering studying abroad, you have to look carefully at what you can get from the experience and how much you’ll need to borrow, as well as how you plan to pay off the travel debt when your studies are done. Before you decide what level of borrowing is best for you, or if you want to forgo the experience and the debt that comes with it, consider the following. …

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How Student Loan Debt Impacts Your College ROI

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In Getting a Student LoanLendKey

At LendKey we stress the importance of understanding the effects student debt has on the ROI of your college education. Sure, you go to college to better yourself – you gain knowledge, make connections, and more. But you also go to college to improve your earning potential. In fact, studies show that the average salary for college graduates is $46,900, while the average salary for those with just a high school education are only $30,000. That’s over 50% more. But the equation is a bit harder than that. Every college and university charges a different amount for tuition, and your …

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Latest federal student loan deal offers compromise at a cost

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In Getting a Student LoanLendKey

While the #dontdoublemyrate campaign helped to raise topic awareness with students, it fizzled out, and rates increased as quickly as July temperatures. Over the near three week period since then, a range of politicians have proposed different deals but none have been able to materialize into a solution, leaving many frustrated students and families to deal with yet another increased cost of college and a poor perception of the politicized process that is federal student loan policy determination. With college bills quickly approaching their due dates, politicians are now feeling the heat from their own constituents that are searching for …