Before diving into the methods of determining your loan type, it’s important to understand the key differences between private andfederal student loans. These differences can have a significant impact on your repayment options, interest rates, and borrower protections. Private student loansare issued ...
Your lender or loan servicer can be a good starting point when you need help with student loans. They’ll know the details of your loans and should be able to answer questions about a variety of issues, from applying for new loans to choosing a repayment plan. If you have federal loans...
Whether you’re refinancing private student loans, or refinancing federal loans with a private lender, the process is largely the same—and this guide walks you through each step. You’ll learn how to check your eligibility, compare lenders, complete your application, and understand the payoff ...
While it can be very difficult to understand individual situations without access to private information, we can offer some broad advice about what to do in such cases. The Student Loan Ranger is not an attorney and does not offer legal advice. We can, however, provide some tips about steps...
Once you understand the awards being offered from institutions, you can compare costs and financial aid packages from each to reach a final decision on which offer to accept. » MORE: How much can you get in student loans? How to get a private student loan Consider private student loans ...
We will help you understand how student loans work and make your college career possible. Financing your higher education can be complex. First and foremost, you should consider free money options such as scholarships and grants. Once you’ve exhausted those options, a student loan may help. Wi...
Ensure you understand the pros and cons of student loans and how to avoid overborrowing. How to Get Approved for a Federal Student Loan There are things you can do to improve your chances of approval when you want to take out federal student loans. Here are some tips: Complete your ...
A student loan settlement helps you pay off your student loans in one lump sum for less than the amount you owe. To be eligible, your loans must be in default, meaning you failed to make multiple payments. Student loan settlements can negatively impact your credit score, so consider alte...
How is interest calculated on student loans? To understand the basics of how student loan interest is calculated, you’ll need some background on a few important elements. First, a couple of terms: The principal is the amount of money you originally agreed to borrow. And an interest rate ...
One of the primary benefits of consolidation is the potential to secure a lower interest rate. When you consolidate your student loans, the new interest rate is determined by taking the weighted average of the interest rates on your existing loans. This can result in a more favorable interest ...