Federal student loans, also known as Stafford Loans or Direct Loans, come in two forms: subsidized and unsubsidized.
Subsidized loans are offered to students with financial need. For these loans, the government will cover the interest while you're in school. Unsubsidized loans are offered to students without extreme financial need. If you get an unsubsidized loan, the loan interest will accrue while you're in school if you defer payments. Let's dig in to how each of these loans work.
What’s the easiest way to get approved for a private student loan? Apply with a cosigner.
Why? Because most college students don't have an adequate credit history to qualify on their own. In fact, 92% of private student loans are cosigned (according to figures from the MeasureOne Private Student Loan Report, Dec. 2019).
The prospect of paying for college can be overwhelming, even for the most well-prepared students. Tuition costs continue to rise, even though parental and post-graduate incomes haven’t followed the same trend. So who should pay for college? Viewpoints vary as to whether students or their parents should be responsible.
Let's take a look at some common viewpoints.
If you’re new to the college funding process, you may find yourself a bit overwhelmed. That’s not unusual.
In fact, most people get pretty stressed out when they start thinking about how to pay for college. Your best bet is to use multiple approaches to fund your education. Let's take a look at your options.
If you’re in college-funding “crunch mode” right now, you’re not alone. A recent study reveals that late spring — in other words, right now — is when most parents feel the pressure to get their children’s college funding plans tied up for the fall.
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