While most personal loans are unsecured (no collateral required), you may need to opt for a secured loan. A secured personal loan extends cash, but you must borrow against your personal property. Other examples of secured loans are an auto loan and home loans, while student loans are unsecur...
For mortgage application purposes, this results in a higher payment as part of your DTI ratio than what you’re actually paying — or, in this case, not paying. Depending on other debt obligations, this could affect mortgage eligibility. Additionally, you’re ineligible for an FHA loan if yo...
The Free Application for Federal Student Aid (FAFSA) provides information about students' financial needs. It provides a comprehensive view of your financial situation, enabling scholarship committees to assess your financial need accurately. Some scholarships use this information to determine financial eli...
How to apply for student loan forbearance There are two types of forbearance: general and mandatory. With “general,” the loan servicer decides whether to grant the request. With “mandatory,” those who meet the eligibility requirements must be granted forbearance. ...
(GPA) is a key indicator of your academic performance and is often used as a benchmark for scholarship eligibility. However, many scholarship committees also consider the context of your GPA, such as improvements over time or achievements in particularly challenging courses, recognizing that a ...