Student Loan Deferment vs Forbearance – Differences Between Them
If you need to pause your monthly student loan payments, you have two primary options: deferment and forbearance. Learn about them here.
private student loans
When Do Student Loans Start Accruing Interest?
Student loans â federal or private â begin accruing interest when theyâre disbursed, and the borrower is responsible for paying the interest on all but subsidized federal student loans during grace periods or deferment. The grace periods for each kind of student loan repayment are good to know. So are the various loan interest rates […]
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A Guide to Unclaimed Scholarships and Grants
Maybe youâve heard that billions of dollarsâ worth of scholarships and grants go unclaimed every year. Unfortunately, some money is, yes, left on the table each year, but billions in merit- and need-based aid are claimed. Of the federal governmentâs annual budget of $32 billion for student grants, $2 billion is unclaimed, according to researchers […]
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Computer Science vs. Computer Engineering: What’s the Difference?
Many colleges and universities use the terms âcomputer scienceâ and âcomputer engineeringâ to describe computing programs interchangeably. But, there are several differences that make these two fields unique. Hereâs what future students need to know about each of these popular college majors, and what may make one more desirable over the other for their future […]
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The Differences Between Grants, Scholarships, and Loans
Grants, scholarships, and student loans can all help you pay for your education, but there are key differences between the three â namely, how they award funds and whether you need to repay those funds. Grants and student loans often depend on financial eligibility and need, while scholarships tend to be merit-based. Additionally, whereas both […]
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What Happens When Your Student Loans Go to Collections?
When a borrower stops making payments on student loans for a period of time, they could end up in default. And in some cases, lenders may send loans that are in default onto collections. In general, itâs ideal to avoid defaulting on student loans and having them sent to collections in the first place. But […]
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How Does Student Loan Deferment in Grad School Work?
No matter how good a graduate or professional schoolâs potential return on investment is, climbing that mountain requires careful consideration so that you donât end up with a heavier student debt burden than you planned for. That means not only having a plan for graduate school loans but knowing what to do with any existing […]
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Applying for a Student Loan Without a Cosigner
Most federal student loans do not require a credit check and can be borrowed without a cosigner. While the vast majority of students who take out private loans have a cosigner to guarantee the loan, thatâs not an option for everyone. A cosigner â generally a family member or close friend â is someone who […]
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What Is a Pell Grant?
A Pell Grant is a type of federal funding thatâs awarded to eligible undergraduate students who have exceptional financial need, and is provided to help pay for their education. In general, unlike a loan, Pell Grants usually donât need to be repaid. The maximum amount that you can receive varies each year, with the 2021-2022 […]
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Strategies to Pay Back Federal Student Loans
The prospect of paying back your student loans may seem daunting, but there are strategies you can take to pay off your federal student loan debt. This includes choosing from the number of repayment plan options available or opting to refinance your student loans. Of course, before you start making payments, youâll want to know […]
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