Scholarship Basics and Tips

We all know college is super expensive; not only do you have to pay tuition, but there’s also room and board (for those of you staying on campus), a meal plan (yay for cafeteria food…), and textbooks (buying hundred-dollar books for one chapter). It’s a lot. Luckily for us, there’s help: scholarships! Of course there’s no guarantee that you’ll actually be awarded any money, and sometimes it can seem like a whole lot of work for a whole lot of nothing. But that’s why I’m here! I’ve gone through the process recently (and am doing it again), and I’m at your service with suggestions and tips.

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Applying for Public Service Loan Forgiveness: 5 Tips for Success

Public Service Loan Forgiveness (PSLF) is a program that could eliminate some of your federal student loan debt if you meet all the requirements. This program was created to benefit individuals whose debt would be unaffordable without loan payments tied to income because they are working in lower-paying, but vitally important public sector jobs such government service or non-profit work.

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3 Types of FAFSA® Deadlines You Should Pay Attention To

 

Ah, deadlines. The sworn enemy of students across the nation. When you’re busy with classes, extracurricular activities, and a social life in whatever time you’ve got left, it’s easy to lose track and let due dates start whooshing by. All of a sudden, your 10-page term paper is due in an hour, and you’re only on page 5 (with the help of 26-point type and triple line spacing). We get it.

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Stay On Track This Summer: 4 Tips for Incoming College Freshmen

4 Ways to Stay Productive During Summer Break

A recent post, covers the concern of “summer melt,” where up to one-third of the students who graduate high school with plans to go to college never make it to a college campus. The post discussed how educators  can help keep someone on track—but there’s also plenty that a student can do to make sure their college plans don’t get derailed during a summer break.

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How to Apply for Student Loan Forgiveness if You Attended Heald College

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If you attended Heald College, you may qualify for federal student loan forgiveness. 

 

The U.S. Department of Education is committed to forgiving the federal student loans of eligible former Heald College students. If you qualify for forgiveness, you will not be required to pay back your qualifying Heald federal student loans and you may be refunded any amount that you already paid. You may be eligible if you attended Heald when it closed, or if you were misled or defrauded by Heald.

See if one of the following situations applies to you.

Situation 1: You were attending Heald College when it closed on April 27, 2015, or you withdrew on or after June 20, 2014.

You may be eligible for a type of federal student loan forgiveness called closed school discharge if you were attending Heald College when it closed on April 27, 2015, or if you withdrew on or after June 20, 2014.

This is the fastest way to receive loan forgiveness, but there are certain requirements you must meet.

What you need to do:

  1. Review the additional requirements to make sure you qualify.
  2. Complete the Closed School Discharge Application.
  3. Submit the application to your federal loan servicer.

Situation 2:  Heald College misrepresented job placement rates for your program.  

The U.S. Department of Education determined that Heald College published misleading job placement rates for many of its programs between 2010 and 2014. If you enrolled in one of these programs on or after the date listed, you can apply for loan forgiveness through an expedited process.

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5 Must DOs Before Repaying Your Student Loans

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Almost time to start paying back your student loans?  Contrary to popular belief, your student loan payments don’t have to stop you from living your life. You just have to weigh your options and find a strategy that works within your budget. Here are some steps to get you started.

1. Compare monthly payment amounts

The amount you pay each month toward your student loans will depend on the repayment plan you choose. If you take no action, you will be automatically enrolled in the 10-year Standard Repayment Plan. If you don’t think you can afford that amount or you want a lower monthly payment, consider switching to an income-driven repayment plan, where your monthly payment could be as low as $0 per month. Just know that when you make payments based on your income your monthly payment amount may be lower, but you will likely pay more in total over a longer period of time.

Use our repayment calculator to compare the different repayment options.

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8 Student Loan Tips for Recent College Grads

8 Student Loan Tips

Nothing says, “Welcome to adulthood” quite like getting your first student loan bill in the mail. If student loans are your reality, here are some tips that may help you (from someone who is going through this too).

1. Don’t ignore your student loans!

Affordable payment options

I think everyone can agree that student loans are no fun to pay back, but ignoring them can have serious consequences (and it won’t make them go away.) If you’re worried about your student loans or don’t think you can afford your payments, contact us for help. No matter what your financial situation is, we can help you find an affordable repayment option. For many, that could mean payments as low as $0 per month.

2. Set a budget.

Budgeting tips

Life after graduation gets real, real fast. To make a plan to tackle your student loans, you need to understand what money you have coming in, and what expenses you have going out. If you haven’t already, it’s important that you create a budget. This will help determine your repayment strategy. Here are some budgeting tips to help you get started.

3. Choose an affordable payment amount.

Repayment calculator | Apply for an income-driven repayment plan

There is no one-size-fits-all approach to paying back student loans. The key question you need to answer is: Do you want to get rid of your loans quickly or do you want to pay the lowest amount possible per month?

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