Student Loans
Federal student loans usually have more benefits and protections than private student loans. For example, federal student loans typically have fixed interest rates and the option for income-based repayment plans. With private student loans, many lenders don’t offer forbearance or deferment for financial hardship. If these options are available, it can be difficult to qualify.How […]
In 1982, the Massachusetts state legislature created the Massachusetts Educational Financing Authority (MEFA) at the request of colleges throughout the state. Leaders in higher education and government believed that the residents of Massachusetts needed an agency dedicated to providing low-cost financing for college students and their families. To fulfill that mission, MEFA offers financial counseling […]
EdvestinU is a different kind of lender. The company specializes in providing student loans and refinancing existing student loans. EdvestinU is a national student loan program offered by the New Hampshire Higher Education Loan Corporation (NHHELCO) and is a nonprofit agency.How EdvestinU Student Loan Refinancing WorksEdvestinU allows borrowers to refinance and consolidate any of their […]
The Reunion Student Loan Finance Corporation, or RSLFC, operates iHelp Student Loans in partnership with the Independent Community Bankers of America (ICBA). Through iHelp, students and graduates who want to manage their debt can get a private in-school or refinanced loan through the online platform.Reunion Student Loan Finance Corporation has been in operation for 35 […]
The Rhode Island Student Loan Authority, or RISLA, is a nonprofit organization committed to offering affordable education financing to qualified borrowers. In operation since 1981, RISLA provides access to low-cost state-based education loans, student loan refinancing, and financial literacy to high schools and colleges in the state.While RISLA is based in Rhode Island, student loan […]
Student loan refinancing can be a cost-saving strategy for borrowers with significant amounts of student debt or high-interest loans. Refinancing involves taking out a single, new loan to pay off all or a portion of outstanding student debts to achieve a lower cost of borrowing, a more amenable repayment term, or a consolidation of multiple […]
Student loan refinancing has become a go-to solution for many student loan borrowers, as it provides a means to lower the total cost of borrowing over time. In a low-interest rate environment, private lenders may be able to offer highly qualified borrowers a lower rate than federal student loans or previously refinanced debt.Additionally, student loan […]
Student loans represent a significant burden on millions of borrowers throughout the United States, with the average loan balance coming in at slightly more than $30,000. Many borrowers have far more to repay over 10, 20, or even 30 years, which can put a strain on month-to-month cash flow.In an effort to reduce student loan […]
Bankruptcy leaves a lingering black mark on your credit history, with the financial effects lasting for several years. In most cases, you’ll still be left with your student loan debt, too. If still you find your payments unmanageable and want to refinance your student loans after bankruptcy, it can be challenging.Most student loan lenders won’t […]
Defaulting on student loan debt is increasingly common in the United States. As of December 2017, close to 4.6 million Americans had stopped paying their federal student loans long enough that they had gone into default, according to Business Insider, citing Department of Education data. This federal loan statistic doesn’t take into account the number […]