The Public Service Loan Forgiveness Program is a government program that was created with the College Cost Reduction and Access Act of 2007 . The goal was to help professionals working in public service who have more federal student loans than their public sector salaries allow them to easily repay. Itâs aim is to ensure […]
The post A Look into the Public Service Loan Forgiveness Program appeared first on SoFi.
Congratulations, youâve graduated from high school. Now, youâve got just a few more weeks to soak up all that home has to offer before heading off to college. The summer before college can be a transformative time in its own right. Itâs a time to reflect, to wrap up loose ends, and to spend quality […]
The post What To Do the Summer Before College appeared first on SoFi.
Making every payment on time is the ideal way to build credit successfully. The basic strategy for good credit is actually quite straightforward and intuitive: Be the kind of borrower you would want to lend to. Be the kind of borrower you would want to lend to. Acquiring Credit Turning to a spouse or parent […]
The post How to Build Credit Over Time appeared first on SoFi.
More than two out of three of recent college students took out loans to help cover the costs of furthering their educationâaveraging $29,900 per borrower, including private and federal debts. When it comes to paying back student loans, both the total amount borrowed (i.e., the principal) and the interest rates (i.e., the percentage charged on […]
The post The History of Federal Student Loan Interest Rates appeared first on SoFi.
Student loan consolidation works similarly to other types of debt consolidation. Borrowers can combine multiple student loans into one new loan with new terms and a new interest rate. The amount you borrow for the new loan covers the principal balance on all of the student loans you consolidated. Youâll have just one bill to […]
The post Understanding How Student Loan Consolidation Works appeared first on SoFi.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Students aren’t just leaving school with new friends and undergraduate degrees â they’re also bringing the stress of student loan debt along for the ride. In fact, most students now finish post-secondary school owing more than $30,000 and spend anywhere from 10 to 25 years paying back these loans. While there’s no way to make […]
The post Best Private Student Loans of April 2021 appeared first on The Simple Dollar.
If your student loan payments seem overwhelming, you should know that youâre not alone. Americans are shouldering a growing student debt burden; In fact, US borrowers owe a combined $1.7 trillion in student loan debt, according to the Federal Reserve . For federal student loans, if a borrower fails to make payments on a loan […]
The post What Happens If You Just Stop Paying Your Student Loans appeared first on SoFi.
Letâs be honest: Does anyone actually look forward to doing taxes? The whole process feels like an overly complex homework assignment from a fuddy-duddy teacher. But the next time you find yourself frantically searching for your W-2 form or trying to figure out where you put the shoebox with your receipts, think about the money […]
The post What You Should Know About the Student Loan Interest Deduction appeared first on SoFi.
In dental school youâre taught all you need to become a successful dentistâbut what you donât learn is how to effectively handle your dental school debt. The typical dental school graduate enters the profession with a student loan burden topping $292,000, according to a recent survey of dental school seniors by the American Dental Education […]
The post How to Pay Off Dental School Debt and Thrive as a New Dentist appeared first on SoFi.