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*Rate Tables Updated as of September 2nd, 2020 September 2020 may be the most competitive we have ever seen the student loan refinance marketplace. Prior to the Covid-19 pandemic, tech companies like SoFi and Earnest tended to offer the best refinance rates while the traditional banks and lenders lagged behind. …
Many borrowers end up with gaps in their student loan repayment. Sometimes a break in payments can be the result of a simple accident, such as a missed payment. Other times, a financial hardship may force a borrower to take a deferment or a forbearance. These gaps in payments can …
With mortgage rates near record lows, many student loan borrowers are thinking about using a mortgage refinance to attack their student debt. The process is called a “cash-out” mortgage. Instead of refinancing the amount currently owed on a house, in a cash-out refinance, homeowners borrower more than what they owe. …
There are a wide range of reasons a student might elect to take a gap year. Some want to earn a little extra money or focus on travel, while others use the time to prepare for graduate school. Covid-19 has become the latest reason why students are taking a break …
Financial experts often advocate aggressive repayment of student loans. By quickly repaying student loans, borrowers can save a fortune on interest. The aggressive route can help borrowers get ahead by thousands of dollars. Because of the immense value of accelerated repayment, this site has sought to help empower borrowers to …
Editor’s Note: This article was originally published on August 10, 2020. It has been updated to include new guidance provided by the Department of Education. The Coronavirus pandemic has caused the federal government to take unprecedented steps to help borrowers manage their debt. In March, the CARES Act became law, …
When it comes to paying for school, it can be tough to decide whether it is better to pay for college expenses out of a savings account or to borrow additional student loans. Some people are very reasonably debt-averse, but exhausting a savings account comes with significant risks as well. …
Government workers considering a refinance of their student loans need to be especially careful. The allure of lower monthly payments and a better interest rate can be tempting. However, borrowers should understand that while there are circumstances where a refinance might make sense, a mistake refinancing can be financially catastrophic. …
Paying the minimum on all of your student loans is an expensive way to pay off debt. In the long run, you will spend a fortune on interest. If you can pay a little extra towards your student loans, you want to get the most out of every dollar. What …
Editor’s Note: The initial lender reviews for this article took place on August 3rd, 2020. If a refinance company takes steps to provide better guidance to borrowers, its grade will be updated accordingly. Businesses love to brag about how they do the right thing and put consumers first. Sadly, this …
