Student Loans

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Is It Better to Consolidate or Refinance Student Loans?

Is It Better to Consolidate or Refinance Student Loans?

Student loan refinancing and consolidation can allow you to bundle all your loan payments into one—and, in the case of refinancing, potentially save money on interest. However, the two processes have a lot of differences. The right one for you depends on the type of loans you have, your financial situation and your goals. Here’s

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How to Get Student Loans Without a Parent

How to Get Student Loans Without a Parent

Student loans can be a helpful pay for the costs of higher education. If you’re considering this option, you may need to involve your parents in the process (even if the loans will be in your name). For instance, the form you submit to get federal aid will ask for details about your parents’ financial

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What Is the SAVE Income-Driven Student Loan Repayment Plan?

What Is the SAVE Income-Driven Student Loan Repayment Plan?

The new SAVE income-driven repayment plan replaces the Department of Education’s REPAYE plan and offers student loan borrowers a more affordable option. Aside from mortgages, student loan balances continue to be the highest debt category in the country, with outstanding balances totaling $1.39 trillion in June 2023, according to Experian data. The Saving on a

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Get Out of Student Loan Default With the Fresh Start Program

Get Out of Student Loan Default With the Fresh Start Program

The federal student loan payment pause is coming to an end, with payments resuming in October 2023. If you defaulted on your federal loans before the moratorium began in March 2020, you’ve enjoyed no collection attempts for more than three years. And fortunately, the federal government has a temporary program in place—the Fresh Start program—to

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What to Do if You’re Retiring With Student Loan Debt

What to Do if You’re Retiring With Student Loan Debt

Student loan debt is often thought of as a problem only for the young. And while it’s true that the age group with the most student loan borrowers is the under-30 set, a growing number of adults nearing retirement are also burdened by student loan debt. A 2022 report from the Federal Reserve Bank of

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What Is Capitalized Interest on Student Loans?

What Is Capitalized Interest on Student Loans?

Student loan interest can begin accruing even if you haven’t started making payments yet. For example, interest can add up while you’re still in school and during your grace period. Depending on your loan type, that interest may be added to your original loan balance when those periods end. This amount, called capitalized interest, can

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Can I Extend My Student Loan Payment Pause?

Can I Extend My Student Loan Payment Pause?

The federal student loan payment pause is ending soon, but if you’re concerned about being able to afford your monthly payments, there may still be options available based on your situation. Here’s what you need to know about the end of the student loan payment moratorium and how you can continue to get relief. When

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How to Prepare for Student Loan Payments to Resume

How to Prepare for Student Loan Payments to Resume

Student loan payments on most federal student loans are scheduled to resume on October 1, 2023. The moratorium on payments has been in place since March 27, 2020, when the Coronavirus Assistance, Relief and Economic Security (CARES) Act was signed into law. On average, student loan borrowers have $39,032 in debt, according to Experian data.

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