Student Loan Basics
New to student loans? Here are the basic terms that all borrowers should understand.
New to student loans? Here are the basic terms that all borrowers should understand.
More and more students are running up student loan balances of over 100k, but these large debts could be a huge mistake.
Federal student loan borrowing limits vary by year of school, while private loans follow a different set of rules for maximum loan size.
Skipping an expensive school to attend a more affordable college might be the smartest decision for many students.
Loan origination fees should be avoided for nearly all student loans. Federal loans are a noteworthy exception to this rule.
There are many factors that go into determining a student loan interest rate. Some are based on the borrowers but others are not.
Lenders have made cosigning on student loans a routine practice, but cosigning any loan is a risky decision with major consequences.
Private lenders like to compare rates against Graduate PLUS loans, but when you compare all of the loan features, Graduate PLUS loans usually come out ahead.
Learning the hard way is part of college, but some personal finance lessons are especially valuable if you can learn them the easy way.