Starting July 1, interest rates for older Stafford and PLUS loans will rise 0.08 percentage points. For borrowers of the need-based Stafford loans who are still in school, interest rates will rise to 6.62 percent, while PLUS loan rates will rise to 8.02 percent, according to student-loan provider Sallie Mae. For those who have already [...]
ScholarshipPoints.com, a free service from the Student Loan Network, has announced its first quarter scholarship winners. Chris Wendorf, University of Wisconsin – Milwaukee, received the first-place scholarship of $1000; Jonald Allan Gonzalez, Brigham Young University – Hawaii, received the second-place $500 scholarship; and Helen Hawkey, University of Pittsburgh, took the third-place $250 scholarship. All three [...]
Your education is the key to launching your future. After you enter the professional world you leave the college years behind to focus on your career goals. But one thing most people can’t leave behind are student loans. Don’t let this burden continue to weigh you down, make student loan consolidation a priority on your [...]
When Jeremy Hynd graduated from Vanderbilt University in 2004, he applied to consolidate $44,000 in student loans. With interest rates then at record lows, consolidation offered the opportunity to lock in a 2.5% rate for the life of the loan.
But Hynd discovered that $27,000 of his loans weren’t eligible for federal loan consolidation because they [...]
The homework begins for today’s college students long before they set foot in a university lecture hall. The late nights start with poring over an increasing array of student loan options. “A big part of getting to college and staying in college is figuring out who offers the best interest rate, who offers the best [...]
A recent article in the New York Times highlighted what many students already knew — that not only was college getting more expensive, but the amount of federal aid available to students is not keeping up with rising education costs.
A revision and update to the EFC, or Expected Family Contribution, formula for the 2005-2006 school [...]
There is an option for undergraduate and graduate students who have not yet applied for their student loans or for those without sufficient federal funds for the fall semester. Phoenix-based NextStudent, a premier education funding company, has a private student loan program to help undergraduate and graduate students receive the funding they need to get [...]
Student loan innovator MyRichUncle® has launched its Federal Graduate PLUS (GradPLUS) loan product, cutting 1.75 percent off the interest rate. With the introduction of GradPLUS Federal student loans, graduate students have more choices for funding their education and now, an even better choice in terms of the cost of these loans with MyRichUncle. The Federal [...]
In a long anticipated move, Congress has voted to abolish the Federal Student Loan Consolidation Single Lender Rule. Prior to this week, borrowers that had all their student loans with one lender were forced, by law, to consolidate with that lender – or with no one at all. This anti-competitive environment has cost student loan [...]
An emergency spending bill, approved Thursday by the Senate, abolishes a rule that has required borrowers who have all their federal student loans with one lender to consolidate with that lender. Under the legislation, already passed by the House and expected to be signed by President Bush, borrowers will be allowed to consolidate with any [...]