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introverted-explorer · 3 years ago

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Will You Marry Me (For Financial Aid)

Summary:

The fake dating/real feelings college au no one asked for. Based on that text exchange between two friends in college wanting a better FAFSA Application.

Notes: Major credit to @labelma (AKA Leilah) for betaing this and for encouraging me to post it.

I wrote this about a year ago and got distracted by life. Decided I would put it out into the world for other people to enjoy as a little birthday present for myself, enjoy!

David - italicized Patrick - bold Stevie - both

You wouldn’t expect David Rose to be friends with someone like Patrick Brewer. Not only was he a business major, but also a huge sports fan and equally versed in the arts, which David certainly didn’t mind. Patrick was liked by everyone he met and no one really understood how he could be friends with someone as abrasive and standoffish as David. And somehow they were best friends.

Stevie simultaneously regrets, is overly enthused, and is extremely amused by their friendship and takes full credit for the dynamic of their tiny but mighty friend group. She and David had met during orientation their freshman year of college, bonding over their shared disdain for their overly peppy orientation leaders. They quickly became inseparable, spending the majority of their down time together. A few weeks into school Stevie showed up with this average looking guy she had met in her Intro to Business course to their weekly dinner. Patrick had woven his way into their little duo with a few little teasing jabs at David to which David made complaints of an ‘unbalanced social dynamic’ but loved nonetheless.

Nothing has really changed after two years of friendship. They would do pretty much everything together; homework, meals, vacations (thanks to David’s parents), you name it, they were probably doing it together. Even a few classes, obviously with a lot of pushing on Stevie and Patrick’s end and reluctance on David’s. David mostly stuck to his art classes but was convinced that a few business classes would help if he ever wanted to manage a gallery, good business acumen ran in the family after all.

David came from money, but that money was almost never of conversation and often forgotten all together. It only came up when he casually name dropped or mentioned his designer and high end products. That was until they lost it all. Thankfully school and his apartment were already paid for through the year but it left David questioning his very near future plans. He worried if he would be able to finish out his schooling and where he would live once school was over. By some small miracle, his parents and younger sister found themselves moved to a town that they had bought as a joke at the pinnacle of his family’s financial success. Even better was the fact they were now living in the motel that Stevie’s family owned.

After a long night of anxiety and research on financial aid for the next year, he discovered there were certain situations in which he could receive more aid. David never had to worry about filling out a FAFSA application when he still had money, it was never an issue if he received aid or not, but now it was the most important thing for his life to stay somewhat stable. His anxiety got the better of him and decided to decompress with the little bit of the weed he had left.

Once he got a nice buzz going, he grabbed his phone to come up with a plan to get some of that aid. His finger hovered over his conversations with Patrick and Stevie. He thought Stevie would go along with his plan but would ridicule him to no end and decided that Patrick was probably the safer bet in this particular scenario.

Can you marry me?

The rational part of his brain told him Patrick was likely at one of his many clubs or doing homework or maybe even doing something only good people do. But the rational part of his brain was not steering the ship. The part in control kept yelling at him that Patrick was mad at him for coming on like that and he had ruined the friendship with just four words.

I just looked at the financial aid website and it said I cannot get any aid except for unsubsidized loans unless I have a child, get married or turn 24, so I have to get married

It didn’t take long for Patrick to respond. He would do pretty much anything for his friends and it’s not like it was actually a real marriage and could benefit himself.

Yeah, okay. I’ll marry you. I need a better fafsa application too

That certainly wasn’t the response David had expected and certainly not that fast. David was used to people letting him down even though Patrick, and more often than not Stevie, had proven that people won’t always do that.

Wait. Seriously?

Would you really do it?

I’m going to do actual research on this.

‘After I sober’ up David said to his phone after he sent that final text.

Are we doing this?

It would have to happen like lightning fast. I’ve never had to do one of those applications aren’t they due soon?

Patrick knew David was likely either high or drunk, he hadn’t been dealing with the complete upheaval of his life all that well, and figured he would do all of the specific research as he enjoyed it and was painfully aware of the application and financial aid process. He felt the tiniest bit of disbelief pass through his brain as he started looking into this particular part of the process. Whether this was the idea of marrying David or marrying David to benefit their financial aid packages. He never really thought of his best friend like that before but it felt like a tiny part of his brain was saying this was a good thing. He shut that voice down and focused on his research instead.

Okay.

We’d need to get a marriage license which can be up to $300 depending on where we get it, and then we need to file for a marriage certificate.

I’m an ordained minister but idk if I could file my own marriage certificate

During all of the craziness that had been the last hour and asking Patrick to marry him, he totally forgot that Stevie was coming over.

“David?” she called out opening the door and approached his bedroom.

“You smoked without me? You suck.”

David stilled. He had his phone still in his hand and a small smile on his face. As soon as he saw Stevie in the doorway his smile twisted to the side of his face.

“David.”

��Stevie.”

“You never smile like that. What bit of celebrity gossip are you hiding on your phone?” She asked, grabbing the phone from his hands with little protest as David’s reaction time was slowed by his now depleting high.

“What is this?” She paused to read the conversation. “You’re marrying Patrick? And for financial aid? I don’t know if I should be offended you didn’t ask me or not.”

“I thought about it! I thought you would make fun of me for it. I’m sorry!”

“It’s fine. I’m ordained by the way.”

David gave her a confused look questioning her random fact.

“I was bored in high school one day and did it online after I finished the assignment we were doing. It took like 15 minutes and now I can marry people.” She shrugged it off as if it were nothing.

“And you’re telling me this because..” David trailed off trying to follow the conversation.

“Because I can marry you and Patrick if you need me to.”

Finally David was caught up on the conversation. He took his phone back from Stevie wanting to tell Patrick. He couldn’t help the smile that came back on his face as hard as he tried to hide it.

Stevie’s ordained and said she can marry us. So one problem down!

“I like this for you.”

“Like what? There’s nothing to like!” David shrieked.

David went back to his laptop to do further research into the actual benefits of marrying Patrick. Stevie nodded and pulled out her own phone. She figured if David was going to be preoccupied she could at least have some fun.

So I hear you’re going to marry David?

And you’re officiating?

You’re not mad he asked me and not you right? I don't want this to put a strain on our friendship.

Stevie laughed. She had secretly hoped they would end up together. She loved David but she couldn’t ever marry him, not even a staged marriage.

I may have offered my services, yes.

And absolutely not. He’s all yours.

The extra financial aid would have been nice but I could never marry David.

Fake marry.

Okay, fine. Fake marry. Either way I am NOT interested.

She looked back up to see David’s face now buried in his phone. He had to be texting Patrick.

It’s possible that I can get fafsa to pay for an entire apartment!

Where you would live with me obviously

David stopped and looked up at Stevie nervously.

“I think I just asked Patrick to move in with me.”

I mean only if you want. You have no obligations to do that.

You probably don’t. I mean bringing home a girl would be weird or whatever.

Patrick had left his phone playing music on the counter as he made himself dinner. He didn’t think to check it until he was back in front of his computer with his dinner. He opened his messages to see four new messages from David.

He can’t say he’s not surprised to see David spiraling after those first two messages. He still never understood why David thought Patrick would reject him as he had never shown signs of that during their friendship. He felt a certain sadness for his best friend.

Of course I’d live with you.

The thought of living with David didn’t scare him as much as it should. He knows David is high maintenance. He’s shared spaces with him during vacations. It’s not really something that bothers him. If anything he finds David endearing, especially when he’s a little frazzled making this encounter all the more fun.

Think they would go for a nice little two bedroom apartment?

The relief David feels seeing that first response doesn’t last long. He doesn’t know why he feels a sense of sadness when Patrick mentions a two bedroom. They’re friends. A couple of bros getting married. Just for financial aid purposes.

Do you think we could convince them for two baths? I’ve shared a bathroom with you. You don’t have much but what you do is wildly incorrect and I’d rather not ruin our friendship with that.

Marriage is a compromise David. You’ll just have to deal with my incorrect bathroom products.

We’re really doing this.

Yes we are.

Can we talk more about this tomorrow? I need to get some work done tonight.

We can talk about this whenever you want.

Just

Preferably not before 10 AM.

Never. I know you David. Lunch after my class tomorrow? Just us?

Stevie hates that we’re ditching her.

But, yes. Lunch sounds great.

“So you’re marrying Patrick and ditching me to go on dates with him?” Stevie remarked after reading their exchange.

David seemed shocked but hummed shaking his head in some sort of hybrid of no and yes. He stood up and shook his arms out. Stevie knew he was getting flustered proving that this might just be more than just an easy way to get some help with tuition.

#david x patrick #schitt's creek #first fic #there is a second chapter to this #they sorta go on a date?#let me know if I should post it

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studentloanhelp3-blog · 5 years ago

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Obtaining a Student Loan Without some sort of Cosigner

student loan assistance Looking for a student mortgage without a cosigner right now is getting harder as well as harder. Banking institutions are definitely more picky than ever concerning the types of people that they are willing to grant a loan to money to, and really- who can blame these individuals? It actually was a rough several years for any financial marketplace, and they have to defend themselves now. The challenge occurs when they get started protecting their selves from individuals like you- students who all need money to arrive at all their education and employment desired goals, and who have simply no real income because involving their set up the educative journey.

student loan assistance

The process connected with buying a student loan is actually made easier should you have a new co-signer to help anyone, and not every student possesses admission to a reliable friends and family member or close friend using a credit score substantial enough to become cosigner. In the event a parent features undesirable credit score can certainly not get college or university loan. Different students possess eligible folks available, in addition to want in order to risk embarrassment as well as embarassment by admitting a purpose to get help. Other pupils just simply don't have the form of romance with useable cosigners to inquire them with regard to that kind of assist.

If you are the student in any these situations, then do not necessarily inside hope yet. At this time there are still possibilities out there there for students having no co-signer. Finding any student loan without some sort of co-signer is possible. That article will give you actually a handful of tips a person can follow and certain inbound links you can check out and about to assist a university student loan without a co-signer.

1. The FAFSA

The chances are this is not typically the first time you have got been told FAFSA mentioned. Often the FAFSA, or the No cost Application To get Student Assistance can be a definitely huge resource and aid for college kids like you hunting for a student college loan with no cosigner. The FAFSA ingests a while to pack out, that is why many scholars want to miss out that step, but that will be a miscalculation. The FAFSA can tell an individual what exactly grants and scholarships and grants tend to be available to students with your particular situation. It can certainly also introduce you to new college student loan opportunities- quite a few staying college loans which experts claim definitely not need cosigners.

The FAFSA can also give anyone important information with regards to all of the different financial assistance options that you can get to you actually like is a education loan an installment on credit rating, or how many 'tokens' do i require to get fiscal aid?

The other really great thing about filling out your current FAFSA is not solely that it is no cost, although that there are usually more than likely men and women used at your classes to are dedicated to this data. Many colleges get pupil aid facilities everywhere persons are paid to support learners just like a person fill out the FAFSA properly and get often the federal loans they need to be able to be successful. Find these people and take advantage associated with the wonderful gift idea your own personal college has made . Filling out the FAFSA is a wonderful step towards locating a student loan with out a cosigner.

2. Government Money

There are a variety of government loans available today. Many students pass through these kind of loan options mainly because they will not give available very much at a new time. Preferred, no govt funded financial loan will present you all the income you would like for a half-year unless you in addition have many kind of scholarship. Even so, regardless of whether $2, 000 by a Kendrick loan is not going to pay your complete bills, the idea is $2, 000 far more than you would include had but without the Perkins personal loan, and that is zero small drop in the actual suitable container. Plus- they are generally all offered with no cosigners. Here are some regarding the administration loans most of us think you should take a look at:

Subsidized Stafford Loan: This can be a best government loan in existence for students. It will be a student loan without having a cosigner. It is the student loan and not using a credit history check. It is any student loan with out higher than average interest payments because the item is subsidized. Apply regarding a Stafford Mortgage, and also you will almost absolutely qualify for trainees mortgage without a cosigner.

Unsubsidized Stafford Loan: This is usually the almost everywhere the preceding no cosigner educational loan besides that the interest is definitely not sponsored, so an individual will pay out considerably more over the life involving the college loan than the particular subsidized loan.

Kendrick College loan: These loans outstanding along with easy to apply intended for, but are and not as common as they have some sort of limitation on the total they can supply equally per year, and entire. They are a not any appraisal of creditworthiness student loan in addition to a student loan not having cosigner- so definitely one thing to look into.

With the end- all connected with these loans can find you exactly what you need without a new student loan cosigner as well as student loan no consumer credit checks Nova scotia or YOU, but many of these loan selections can give you extra income if you have the co-signer. Should you have simply been recently afraid might someone for you to take a risk giving you, then you will wish to have them get these loans as many people are any risky and also the interest rates are lower than the scholar loans one can find at any bank.

Look For Community Boosters

If you usually are going to college, then you definately are most likely dwelling in a college area. Here is a minor secret in relation to college towns- they NEED pupils! Many people love you. Neighborhood corporations thrive off of anyone. Local housing owners pull through by you. The people with the town you dwell in could complain closely about every one of the noisy higher education goers- but they also need you actually, and this results in some sort of lot of local amplifier devices along with scholarship opportunities. Search around to get local prospects to get held by way of school. The average university student with poor credit desires $7, 000 loan every . half-year to get by school. Many need to know more, dependent on the school, place, in addition to situation of typically the student. A good method to get a new head start on this $7, 000 is to help get guide from often the local businesses that require your personal presence to survive.

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trentteti · 5 years ago

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How to Pay for Law School

Alright, strap in. Today we’re going to talk about how to pay for law school. Waitwait, come back. Get a fortifying beverage, because we need to talk.

Law school isn’t going to pay for itself. So how are we, the prospective law students, supposed to deal with the terrifying dollar signs that float ominously in the corners of rooms, casting cold shadows and humming with portents of financial doom (or is that just me…)? Let’s, uh … let’s look at some options.

I’m not gonna lie, this topic is a bummer. So to help break the tension, I’m going to try to keep things interesting by sprinkling some non-standard tips* (in green) for financing law school every couple paragraphs, okay? Okay.

This topic is huge. We’ve written about it before. We’ll write about it again. For now, we’re going to go through a bit of a greatest hits approach.

Alternative financing method break #1: • Come into a massive trust fund. No, a bigger one than that. • Become a wildly charismatic cult leader.

Before jumping into how to pay for law school, let’s talk about how much your legal education will actually cost. There are a number of ways to try to figure this out, but a loan calculator is going to make the math much easier. A loan calculator will help you tally up any current student loans (including interest), cost of attendance, tuition and fees, and living expenses. A good loan calculator will also let you factor in some of the more “hidden” costs of law school, like books, parking and transportation, and prep classes for the bar exam.

When considering the total cost of law school, it’s important to consider the value you will be getting in return. Make sure the payoff is worth the cost – do some research on expected starting salaries and job placement rates.

Take a deep breath. All right. Now that you have a clearer idea of the amount of money that your law school journey might cost, let’s start looking at how to pay for it.

Alternative financing break #2: • Marry a dean of a law school. No guarantees, but it’s worth a shot. • Actually, just marry rich! Surely there’s some nouveau riche dilettante somewhere who’d love to have a bright, idealistic up-and-coming future lawyer as a spouse. Surely.

When it comes to financing law school, there are three main avenues for exploration:

1: Grants and scholarships — money that you don’t have to pay back. 2: Federal student aid — remember your friend from undergrad, the FAFSA? 3: Private loans — buyer beware, this is the danger zone

Order is important here. Not all financing options are created equal, and some have more sting on the back end than others. LSAC has information about all of the above financial aid options at their website. Aren’t they thoughtful.

Alternative financing break #3: • Convince the American Bar Association that your living room actually houses a law school that should be accredited, c’mon, guys, be cool. • Sell that $160,000 yacht that’s been sitting out in the garage gathering dust for years.

Step 1: Grants and Scholarships

Starting with the first. The best kind of money you can get is the kind that’s (more or less) free. Applying for grants and scholarships, while somewhat time-intensive, is the financial aid option that’s least likely to land you in any debt. There are different types of grants and scholarships, including need-based and merit-based financial aid. Consult with a financial aid adviser to see if you qualify for a need-based grant or need-based scholarship.

There are dozens of places to look for legal scholarships, but LSAC is a good place to start your search. Yale Law also has a decent starter list. And, of course, any school you apply to will likely have some information about scholarships particular to their program. Check with your school’s financial aid office if you have any specific financial aid questions.

Once you’ve applied to a school, start filling out scholarship applications ASAP. Even if you don’t ultimately decide to attend, having a fuller idea of the amount of money involved can only help your decision making process. Be sure to check a wide variety of scholarships to see if you’re eligible for financial aid.

Alternative financing break #4: • Avocado toast. Statistically speaking, you’re probably a millennial. You can turn avocado toast into cash, right? • Commit truly ridiculous amounts of credit card fraud.

Step 2: Federal Student Aid – Federal Loans

After you’ve looked through your options for money that doesn’t have to be paid back, it’s time to look at loans. Politics aside, federal loans are still your safest bet when it comes to borrowing money. Remember filling out the FAFSA when you applied for undergrad? I hope so, because you’re gonna want to do it again for law school! There are some helpful guides — not to mention LSAC — that’ll help walk you through the process in case it’s been a few years since you last did the paperwork.

Federal loans come with some benefits that private loans don’t necessarily cover, like fixed interest rates and deferred payment. Federal loans are also more likely to be covered by loan forgiveness programs.

After filling out the FAFSA, you’ll have a better idea of the federal, state, and school financial aid that you qualify for. Different types of options include federal direct loans (previously known as Stafford Loans) and direct graduate PLUS loans. Based on the FAFSA, you might also qualify for school-based loans, scholarships, or federal work-study programs as well as state aid (depending on your state’s financial aid policies.)

Alternative financing break #5: • Pull a Walter White. I’ve only seen the first episode, but I’m assuming it worked out well. • Just straight-up rob a bank. Construct an elaborate heist scenario and rob a bank.

Step 3: Private Loans

And if grants, scholarships, federal loans, federal work-study, and your own savings don’t cover the full cost of your legal education, then you can turn to the private sector. Private loans tend to be more expensive, but sometimes it’s a choice between going to law school and taking a private loan or passing on law school. That’s a choice that only you can make. Study up and pick your loans carefully.

Private loans can help you pay for any additional costs including your law school tuition, living expenses, and other expensive fees. These loans are based on credit and are available through a bank or credit union with fixed or variable interest rates.

*Note: Blueprint does not officially endorse any of these alternative methods. Unofficially? What are you, a cop? Still no. Mostly.

Final Words of Advice:

Dealing with law school admissions is tough, and paying for law school is definitely another challenge that most law school students eventually face. Before you get mixed up with law school student debt, explore all of your financial aid options including law school loans, law school scholarships and law school grants. There are also different loan repayment plans including an extended repayment plan and an income-based repayment plan. Additionally, make sure to check out the thousands of scholarships that law school students may be eligible for.

Doing extensive research and having a repayment plan and strategy planned out beforehand can help the process seem more approachable. Best of luck! We here at Blueprint are rooting for you.

How to Pay for Law School was originally published on Blueprint LSAT Blog

#Financing #Law School #scholarships #Student Loans #trent teti #lsat

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metallicmagpie-blog · 6 years ago

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scholarship masterpost

As someone who has been profoundly influenced by the cost of college in the US, I really wanted to help other people be better prepared than I was and make some dents in student debt. Having also gone to a public school without a fully developed counseling department, I missed out on a lot of info about scholarships and ways of paying for college. Additionally, I haven't seen much financial-aid based advice floating around the studyblr community and wanted to help fill that gap as well.

The following is a compilation of information, sources, and general help that will maybe bridge that information gap for those who don’t necessarily have easy access to it. I’m afraid the guide is pretty US-based simply because that’s the only system I have experience with, but perhaps others will be willing to add on. So here you go!

A scholarship is free money. You don’t pay it back (unlike a loan), and it is gifted to you by an outside organization. There are tons of places to find them, and they can greatly help reduce your cost of college.

Every scholarship has its own requirements for applying, and may ask you to do something (write an essay, make a video, etc) in order to compete.

Need Based Scholarships: You must demonstrate financing need to qualify for the scholarship. Usually, you’ll need to have filled out FAFSA and have an EFC (expected family contribution) lower than a certain number.

Merit Scholarships: Merit scholarships are awarded to the participant who demonstrates the most merit, or worthiness. This can be due to academic success, an personal talent, volunteer work, or other qualities that make someone a great candidate.

Both need and merit based scholarships may have additional requirements, such as only being open to people of certain genders, ethnicities, or backgrounds.

- The internet! Its full of scholarships, seriously. And tons of sites curate them, so I’ve added an entire section on that below.

- Local Community: If you have a local Rotary or Lions Club branch, these organizations almost always have scholarships for local grads. You can also check with any other organizations such as the community center, other clubs/fraternal associations, or businesses.

- At your job/your parents job: Parents work for a sizeable company? Many offer scholarships that are only open to the families of those employed. They can ask the HR department, or you can look on the company website. Other companies offer tuition assistance or scholarships for employees (ex: Chick-Fil-A has a 2.5k employee-only scholarship), so you should check your own place of work too.

- Career Center/Counselor: School counselors can get a bad rap, but they have tons of resources! Ask them if they have any scholarship info (they definitely will, they get sent this kind of stuff) if its not already posted in the room.

- Your current school: This is for both high school students and college students. If you’re a high schooler, check with the PTA to see what they offer, and check what the school offers (again, ask the counselor!). They usually at least have something small, often for students nominated by the teachers. For college students, check the financial aid web page for your school. Many list scholarships the school has partnered with or promotes, as well as alumni scholarships (funds provided by past graduates for current students).

- Your future school: Applying for college this year? Some schools will automatically send your application to relevant, school-sponsored scholarships for consideration, while others will require you to specifically choose this or to complete additional materials. Look this up early so you don’t miss any deadlines!

(I have personally used these websites and can vouch for them. However, I would love to add others as well so let me know!)

Fastweb - the OG scholarship website. Its literally just a huge list of lists of scholarships. Its not the prettiest website (or at least didnt use to be), or the easiest to sort through, but there is definitely plenty of opportunities.

Chegg - A legitimate source of scholarships, although they tend to list very popular and very competitive ones. While these are, of course, worth a lot of money, you’ll want to make sure you’re very competitive before applying so you don’t waste time.

Cappex - Yep, you have to sign up. But its totally worth it. Aside from having a really organized list (sort by amount, requirements, deadline, etc), they will also send emails to remind you of deadlines for apps you’ve started or scholarships your might qualify for. It will also help you look for colleges that fit your needs if you’re not sure where you want to go. 100% free. Highly recommend.

GoingMerry - This one is really really new, and I only know about it bc my school counselor let us in on it. Its supposed to be kind of like a commonApp for scholarships. So far it shown itself to have a lot of smaller, individual scholarships rather than large popular ones which is really nice. (non ref link).

DoSomething - This organization makes monthly initiatives (ex: get friends to register to vote, run a canned goods drive) and if you participate you can submit an entry for a scholarship. There are about 5 campaigns per month and they usually pick winners randomly. They’ll email with you with new campaigns and winners regularly. Its a good way to impact your community and maybe get some money for it!

This is definitely not a comprehensive list, but it will certainly get you started!

Some final words:

1. NEVER pay for a scholarship service. Sites that do this (such as Scholly) are scams. A legitimate scholarship fund/website will never charge you to apply for or match to scholarships.

2. Watch out for lottery scholarships where you have to sign up. Sites like Niche or Scholarship Points, etc will advertise that if you sign up you “could win a [insert large amount] scholarship”. In reality you’ll just get a lot of spam, since the entire thing is a lottery system and designed to increase their search engine rankings.

3. Make sure you know what you’re applying for- a judged or a lottery type scholarship. The former means you’re actually competing based on your application, while the latter simply has basic qualifications and then you’re thrown into a drawing (aka much less likely to win anything for your efforts).

4. Found a lot of scholarships? Make an excel sheet of them if they’re on different sites. This will help you keep track of due dates, eligibility, prompts, etc.

5. Don’t get discouraged! Apply to as many scholarships as possible. Free money is out there and while it may take you some time to win it, it is definitely attainable and you can do it!

Now go and get your free money!

(ps would anyone be interested in a guide to federal student aid/subsidized and unsubsizied loans/CSS/FAFSA/etc? I would be happy to put it infographic form too if that would help -- @metallicmagpie)

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onlinemarketinghelp · 5 years ago

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How To Apply For A Student Loan (Federal and Private) https://ift.tt/2OqzIHo

Let's talk about how to apply for a student loan. Whether you need a Federal student loan, or a private student loan, there are certain things you need to know.

While it would be great to cover all your college costs using a combination of savings, help from family members, scholarships, and your personal income, those funds aren’t always going to cut it. Many college-bound students will need to apply for student loans to cover the gap between the cost of education and their limited resources.

This guide explains how to apply for student loans, and how to select the amount to borrow when you take out the loans.

A good starting point: How To Find The Best Student Loan Rates >>

Quick Navigation

How to Apply for a Federal Student Loan

Fill Out the FAFSA

Review the Aid Offer from Your School

Accept the Appropriate Loan Amount

How to Apply for Private Student Loans

Gather All Your Documents

Compare Rates from a Few Lenders

Apply for Identical Loans from at Least Two Lenders

Choose the Best Offer

How to Apply for a Federal Student Loan

For U.S. citizens applying for educational loans in the U.S., the FAFSA application is the starting point for Federal student loans. Here’s how you apply for Federal student loans.

Fill Out the FAFSA

Applying for Federal student loans starts by filling out the Free Application for Federal Student Aid (FAFSA). To fill out the application, you’ll need your information and your parents’ information from tax filing from two years ago (for the 2020-2021 school year, you’ll need the 2019 tax returns), plus information about your parents’ assets, your assets, and other financial details.

Once you submit the FAFSA, your school (or schools of choice if you’re still deciding where to attend) will create a student aid report for you. This report will include information about free aid (such as grants, scholarships, and more). It will also show information about work-study options and, of course, student loans.

In the United States, almost all schools use the FAFSA to issue need-based aid to students. Even if you don’t plan to take out student loans, you should be completing the FAFSA. You may learn that you qualify for grants or extra scholarships from your school of choice based on your financial status.

Review the Aid Offer from Your School

About two weeks after you submit the FAFSA to your school, you can expect to receive an aid offer. The offer will include information about all sources of aid including:

Scholarships

Grants

Work-study programs

Subsidized student loans

Unsubsidized student loans

In general, you want to take all the free money you can get. That means accepting the scholarships and the grants. If you plan to live on campus, you may want to consider taking the work-study offer too.

However, consider work-study as a baseline for your earnings, not a cap. Often, work-study jobs do not pay very well. Side hustles like reffing soccer or basketball, tutoring, waiting tables and tending a bar, or any form of skilled labor typically pay much better.

And, of course, starting a business may be the best way to earn money during college.

The last form of aid will be student loans. These will include subsidized loans, which have a lower interest rate (and interest doesn’t accrue while you’re in school), and unsubsidized loans (where interest starts accruing right away).

Read our full guide to paying for college here >>

Accept the Appropriate Loan Amount

Once you review the offer, you can accept any part of the offer you want. You do not have to take out all the loans. In fact, I recommend borrowing as little as possible to pay for your tuition and other upfront costs.

Between savings, frugal living, and working, most undergraduate students can pay for their living expenses without borrowing money.

Student loans aren’t free money. You will have to pay them back. It always makes sense to look for alternatives to borrowing to pay for your education.

It may seem smart to borrow a little extra now, but I advise against that. After college, you may have a salary of $50,000 to $60,000 to start (or even lower in many fields). That sounds like a lot of money, but paying back $50,000+ of student loans on a starter salary is a huge challenge.

Think about your future self, and limit your borrowing today.

How to Apply for Private Student Loans

In some cases, students in the U.S. may want to apply for private student loans rather than Federal student loans. A few reasons to consider private loans include:

You want to attend a non-accredited educational opportunity (such as a coding bootcamp).

You plan to take one course at a time (you need at least half-time enrollment to qualify for most Federal programs).

You’re not a U.S. citizen, so you don’t qualify for Federal loans.

You have a strong income and a strong credit score, so private lenders may offer better rates than the unsubsidized Federal loans.

You’re refinancing your existing student loans to a private lender with a substantially lower interest rate.

If one of these situations applies to you, then follow these steps below to apply for private student loans.

Gather All Your Documents

When you apply for any loan, you’ll need documents to prove your income, credit score, and whether you have assets. In general, you’ll need the following:

Tax returns or W-2 forms from the previous years.

Employment pay stubs.

Personal identification information (driver’s license, etc.).

Bank statements.

If you’re applying for private loans while attending school, you’ll need information about the cost of attending.

If you have a cosigner, you’ll need their information too.

Loan documents for existing student loans (if refinancing).

Compare Rates from a Few Lenders

Once you’ve gathered up the information, start doing some loan shopping. We recommend the lenders on our Best Places To Find Private Student Loans list.

Many lenders allow you to preview rates without having a hard credit pull. You can also “shop” for rates using sites like Credible.

Comparing rates using an aggregation site (like Credible) will help you get a feel for the interest rates and terms available to you.

Apply for Identical Loans from at Least Two Lenders

After unofficially comparing rates, apply for loans from at least two lenders. That way you can pick the best possible interest rate. The underwriting and approval process can take anywhere from a few hours to a few weeks depending on the lender.

Remember to also compare key features like loan repayment terms, loan discharge options (like disability discharge), and more.

Choose the Best Offer

When you have a few loan offers in hand, compare them to see which loan is the best for you. Then sign the loan documents and move forward with your education or paying off your loans.

If you have a cosigner, you may also want to get a term life insurance policy to protect your cosigner should anything happen to you. A term life insurance policy for the loan balance (when you're a young adult) can be very inexpensive.

Remember, some private student loans require immediate payments, so make sure you double-check your lender and their repayment plans before you commit.

The post How To Apply For A Student Loan (Federal and Private) appeared first on The College Investor.

from The College Investor

Let's talk about how to apply for a student loan. Whether you need a Federal student loan, or a private student loan, there are certain things you need to know.

This guide explains how to apply for student loans, and how to select the amount to borrow when you take out the loans.

A good starting point: How To Find The Best Student Loan Rates >>

Quick Navigation

How to Apply for a Federal Student Loan

Fill Out the FAFSA

Review the Aid Offer from Your School

Accept the Appropriate Loan Amount

How to Apply for Private Student Loans

Gather All Your Documents

Compare Rates from a Few Lenders

Apply for Identical Loans from at Least Two Lenders

Choose the Best Offer

How to Apply for a Federal Student Loan

For U.S. citizens applying for educational loans in the U.S., the FAFSA application is the starting point for Federal student loans. Here’s how you apply for Federal student loans.

Fill Out the FAFSA

Review the Aid Offer from Your School

About two weeks after you submit the FAFSA to your school, you can expect to receive an aid offer. The offer will include information about all sources of aid including:

Scholarships

Grants

Work-study programs

Subsidized student loans

Unsubsidized student loans

And, of course, starting a business may be the best way to earn money during college.

Read our full guide to paying for college here >>

Accept the Appropriate Loan Amount

Between savings, frugal living, and working, most undergraduate students can pay for their living expenses without borrowing money.

Student loans aren’t free money. You will have to pay them back. It always makes sense to look for alternatives to borrowing to pay for your education.

Think about your future self, and limit your borrowing today.

How to Apply for Private Student Loans

In some cases, students in the U.S. may want to apply for private student loans rather than Federal student loans. A few reasons to consider private loans include:

You want to attend a non-accredited educational opportunity (such as a coding bootcamp).

You plan to take one course at a time (you need at least half-time enrollment to qualify for most Federal programs).

You’re not a U.S. citizen, so you don’t qualify for Federal loans.

You have a strong income and a strong credit score, so private lenders may offer better rates than the unsubsidized Federal loans.

You’re refinancing your existing student loans to a private lender with a substantially lower interest rate.

If one of these situations applies to you, then follow these steps below to apply for private student loans.

Gather All Your Documents

When you apply for any loan, you’ll need documents to prove your income, credit score, and whether you have assets. In general, you’ll need the following:

Tax returns or W-2 forms from the previous years.

Employment pay stubs.

Personal identification information (driver’s license, etc.).

Bank statements.

If you’re applying for private loans while attending school, you’ll need information about the cost of attending.

If you have a cosigner, you’ll need their information too.

Loan documents for existing student loans (if refinancing).

Compare Rates from a Few Lenders

Once you’ve gathered up the information, start doing some loan shopping. We recommend the lenders on our Best Places To Find Private Student Loans list.

Many lenders allow you to preview rates without having a hard credit pull. You can also “shop” for rates using sites like Credible.

Comparing rates using an aggregation site (like Credible) will help you get a feel for the interest rates and terms available to you.

Apply for Identical Loans from at Least Two Lenders

Remember to also compare key features like loan repayment terms, loan discharge options (like disability discharge), and more.

Choose the Best Offer

When you have a few loan offers in hand, compare them to see which loan is the best for you. Then sign the loan documents and move forward with your education or paying off your loans.

Remember, some private student loans require immediate payments, so make sure you double-check your lender and their repayment plans before you commit.

The post How To Apply For A Student Loan (Federal and Private) appeared first on The College Investor.

https://ift.tt/2OyLKAP February 03, 2020 at 11:15AM https://ift.tt/2YidSwr

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lylilorden · 8 years ago

Note

Well I went/am still technically going to school in Colorado, but I don't know how much help I can be to you since I got a ton of scholarships for being an in-state student, not to mention my kind of weird transcripts and academic status. I sort of went to college in high school and that complicated things (my freshman year was actually my third year).

Best I can tell you is to send all your documents ahead (your/your parents' tax information; if you're planning to live off campus then you'd better find, fill out, and get that waver in before the deadline, because that makes a HUGE difference in what the university's going to bill you; make sure your FAFSA is in order, etc.) and make an appointment with your Financial Aid department ASAP. You ought to see what funding's available for you to use through the university first, so you have a better idea of what you're going to end up paying.

NOTE: if you're going to somewhere not-CSU in Colorado, some of the above might not apply. I know that CSU requires first year students live within a certain radius of campus if you're not in the dorms, but I can't remember if UNC or CU or any of the private universities have that same sort of deal, or if you absolutely HAVE to live on campus there.

Best of luck, dear!!

Do you know of any good scholarships for US college freshmen? I'm going to be majoring in English education in Colorado, and with the way things are looking, I'm going to be at least $30k in debt, not including loans, unless I find some way to make that money. I'm good with essays -- I am going to study English, after all -- even if it requires you to read a long-ass book (looking at you Ayn Rand Foundation). Any help would be very much appreciated!

Unfortunately I have zero experience with the US education system.

Does any of the tumblr fam have any advice?

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toomanysinks · 6 years ago

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Human rights activist Amira Yahyaoui is battling the US college financial aid system

Tunisian human rights activist Amira Yahyaoui couldn’t go to college.

Not because she couldn’t afford it; where she comes from, college is virtually free. She lost the opportunity to pursue higher education, to finish high school, even, when she was exiled from Tunisia at age 17, under the repressive regime of the country’s former President, Zine El Abidine Ben Ali.

As part of the Tunisian human rights diaspora, she was inspired to build Al Bawsala, a globally renowned NGO that fights for government accountability, transparency and access to information. Now, Yahyaoui has traveled thousands of miles to San Francisco to fight another battle near and dear to her heart: civic education, or in Silicon Valley terms, edtech.

“I always knew that I wouldn’t allow myself to do anything else before solving the problem in my country and today, Tunisia is the only Arab democracy in the world,” Yahyaoui told TechCrunch.

With that in mind, her focus has shifted to Mos, a tech-enabled platform for students to apply for financial aid. With backing from Uber co-founder Garrett Camp, his startup studio Expa, Kleiner Perkins chairman John Doerr, Base Ventures, Sweet Capital and others, Mos has closed a $4 million seed round and plans to take its recently-launched product to the next level.

The startup seeks to decrease American student debt, which totaled nearly $1.6 trillion in 2018, and digitize the antiquated government systems that deter students from applying for financial aid. For a one-time fee of $149 and about 20 minutes of their time, Mos helps students of all backgrounds maximize their aid awards.

“Our mission is to bridge the gap between citizens and government in a way that works with technology today,” Yahyaoui said.

Yahyaoui is applying what she’s learned building a government-fighting NGO to the startup world, and with the support of top-tier investors, she’s well on her way to proving an “uneducated” immigrant woman of color can write a Silicon Valley success story for the masses.

A face of the Arab Spring

Mos founder and chief executive officer Amira Yahyaoui.

After being forced out of her home country, Yahyaoui fled to France, where she lived as an illegal immigrant and continued to fight against Tunisia’s authoritarian leadership through her blog and an anti-censorship campaign she started online.

When social media sparked anti-government protests across the Middle East, Yahyaoui, still unable to reenter Tunisia, became a face of what was later called the Arab Spring. Her digital prowess, activist reputation and persistent efforts to highlight the Tunisian administration’s human rights abuses quickly made her a face of the movement.

On January 14, 2011, when the protests succeeded in making Tunisia a pioneer of Arab democracy and ended Ben Ali’s reign, Yahyaoi got her passport back and went home, immediately.

Back in Tunisia with newfound freedom, she had an agenda: To hold the governing agency charged with writing a new Tunisian constitution accountable.

Yahyaoui built Al Bawsala, translated as The Compass, an NGO focused on transparency and government accountability. Al Bawsala became one of the largest NGOs in the Middle East, a bona fide success that attracted numerous awards and cemented Yahyaoui’s status as a fearless advocate for human rights, a freedom fighter and one of the most influential Arab women in the world.

“I had to work probably 10 times harder to get to be the self-educated me I am today,” she said. “I saw way too many people getting their education refused and therefore their future ruined.”

Her global standing earned her a seat on the board of the United Nation’s High Commissioner For Refugees Advisory Group on Gender, Forced Displacement, and Protection, as well as the title of Young Global Leader at the World Economic Forum and co-chair of the Davos Conference in 2016, a title she shard with Microsoft’s Satya Nadella and GM’s Mary Barra .

Three years later, with a resume enviable to any dignitary, Yahyaoui is leveraging her unique experience to lure in venture capitalists and use their cash for good.

Repairing a broken financial aid system

The Mos dashboard.

Mos is like if Turbo Tax married Typeform and had a baby, Yahyaoui explained. Not dissimilar to Common App, Mos lets students apply to more than 500 federal and state-based aid programs in minutes using a survey that matches them to every grant and scholarship program they qualify for, while simultaneously completing the FAFSA and state aid applications. To ensure every family is getting the most financial support possible, a Mos financial aid advisor reviews each case and negotiates with colleges for higher awards.

“Today, the biggest problem is people think they are not eligible for financial aid just because of how the thing is designed,” Yahyaoui said. “You’re supposed to just go ahead and fill a form that has 200 questions and then send it like a bottle in the sea and wait for months.”

Mos will complete a full-scale launch this summer and eventually tackle other nation’s college financial aid systems thanks to the new infusion of capital and the high-profile relationships Yahyaoui has forged in just one year living in the Bay Area.

Ultimately, it was Yahyaoui’s activism that granted her a ticket into the opaque world of Silicon Valley VC. As it turns out, angel investor Khaled Helioui, a fellow Tunisian immigrant who’d taken up residence in San Francisco, was familiar with Yahyaoui’s work and when he heard she had relocated to the Bay Area to launch a technology startup, he wanted to know exactly what she was building. Today, he’s a Mos investor and board member and it was his introductions that helped Yahyaoui quickly and skillfully close her seed round.

An early angel investor in Uber, Helioui connected Yahyaoui with his friend Garrett Camp, the very wealthy co-founder and chairman of the ride-hailing giant, who was sold on Mos’s mission right off the bat.

“I think because Garrett is an immigrant, he knows what it is to suffer with bureaucracy,” Yahyaoui said. “He was a huge believer. He actually made it so easy for me because he said, okay, here’s an office, just stay and work.”

Camp then introduced her to John Doerr, the chairman of the esteemed VC firm Kleiner Perkins, known for his successful bets on companies like Google and Amazon. With Camp and Doerr on board, Mos didn’t struggle to raise additional capital; in fact, Yahyaoui was in an unusual position of being able to reject investors whose values and vision for Mos clearly didn’t align with hers.

Tearing down barriers

Yahyaoui, center, with the Mos team in San Francisco.

Yahyaoui isn’t in the startup business to get rich off students trying to navigate their way through the absorbently expensive process of applying to and attending college. She’s part of a growing class of founders out to prove that you can pair profits with good morals and lead venture-backed values-based businesses.

“I know if I created the same thing as an NGO, I could have already raised $100 million, but I like the accountability of business,” she said. “We can create businesses that are good for people.”

Yahyaoui’s story, from being exiled from her home country at a young age to fighting an authoritarian regime is not one that’s ever been told before in Silicon Valley.

In addition to being a trailblazing human rights advocate, she’s a woman, an immigrant, “uneducated” by Silicon Valley standards and a first-time tech founder that was able to walk into a meeting with John Doerr and walk out with a term sheet.

If she’s successful in building a global edtech business, she’ll be emblematic of the meritocratic culture The Valley has falsely claimed to uphold. Even if she’s not successful, she’ll have torn down barriers for other underrepresented founders and written a success story fitting for this new era of accountability in tech.

source https://techcrunch.com/2019/04/08/human-rights-activist-amira-yahyaoui-is-battling-the-us-college-financial-aid-system/

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fmservers · 6 years ago

Text

Human rights activist Amira Yahyaoui is battling the US college financial aid system

Tunisian human rights activist Amira Yahyaoui couldn’t go to college.

“I always knew that I wouldn’t allow myself to do anything else before solving the problem in my country and today, Tunisia is the only Arab democracy in the world,” Yahyaoui told TechCrunch.

“Our mission is to bridge the gap between citizens and government in a way that works with technology today,” Yahyaoui said.

A face of the Arab Spring

Mos founder and chief executive officer Amira Yahyaoui.

On January 14, 2011, when the protests succeeded in making Tunisia a pioneer of Arab democracy and ended Ben Ali’s reign, Yahyaoi got her passport back and went home, immediately.

Back in Tunisia with newfound freedom, she had an agenda: To hold the governing agency charged with writing a new Tunisian constitution accountable.

“I had to work probably 10 times harder to get to be the self-educated me I am today,” she said. “I saw way too many people getting their education refused and therefore their future ruined.”

Three years later, with a resume enviable to any dignitary, Yahyaoui is leveraging her unique experience to lure in venture capitalists and use their cash for good.

Repairing a broken financial aid system

The Mos dashboard.

Tearing down barriers

Yahyaoui, center, with the Mos team in San Francisco.

Yahyaoui’s story, from being exiled from her home country at a young age to fighting an authoritarian regime is not one that’s ever been told before in Silicon Valley.

Via Kate Clark https://techcrunch.com

#TechCrunch

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cathrynstreich · 6 years ago

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7 Ways to Pay for Your Child’s College Education

As a parent, you’ve undoubtedly thought about your child’s college education—no matter what their current age is. And if you’re planning on paying their way, or at least helping them out, cost is certainly a factor.

Unless you’ve got a huge sum of cash to plunk down when it’s time to pay, chances are you’ll need to find multiple ways to fund your child’s education.

Here are seven options to consider:

FAFSA Whether you or your child is paying, begin by filling out the Free Application for Federal Student Aid (FAFSA), even if you don’t think you’ll qualify for any aid. The form allows you to receive financial aid such as federal grants, work-study grants, work-study opportunities, student loans and even some state- and school-based aid.

Some colleges award this money on a first-come, first-serve basis, so it’s important to fill it out as soon as you can.

Scholarships Encourage your child to start early if they’re thinking of obtaining a scholarship to help offset the cost of their college tuition. While the process involved with researching suitable scholarships can be overwhelming, use a scholarship search tool to narrow your selection.

These funds don’t have to be paid back, and most require an application in addition to submitting the FAFSA.

Grants Federal Pell Grants are available, and the first step in getting one is to fill out the FAFSA. You must submit the FAFSA and renew it each year your child is enrolled in school to receive the Pell money if you’re eligible. Normally, these grants don’t have to be paid back.

The federal government has other types of grants, and many states also offer them.

Work-Study Job A federal work-study program funds part-time jobs for college students with financial need. On the FAFSA form, select the box asking to be considered for work-study. If a college gives your son or daughter such funding, they will have to find an eligible job for the program and then work enough hours to earn the amount allocated to them.

Savings Dipping into your savings account is probably something you’ve considered to pay for college expenses. In fact, the typical family covers 34 percent of college costs this way.

A 529 plan is a common way for parents to save money for college. These accounts offer tax advantages in an investment account meant to pay college expenses.

Federal Loans Paying back student loans is the last thing any college graduate wants, but sometimes federal student loans are a necessity. Federal loans can allow college graduates to repay based on their income and can be forgiven in certain circumstances. Federal subsidized loans don’t accrue interest while a student is enrolled in school.

Private Student Loans These should be your last resort to pay for college. Private loans don’t have the same benefits as federal student loans do, though they may have some.

Shop around at private lenders—look for one with the lowest interest rate and best protections such as flexible repayment plans or putting loans off for a period of time if your son or daughter is in a position where they’re struggling to make payments. Interest on private loans will likely be charged as soon as one is taken out, although repayment doesn’t begin until after graduation.

This article is intended for informational purposes only and should not be construed as professional or legal advice.

The post 7 Ways to Pay for Your Child’s College Education appeared first on RISMedia.

7 Ways to Pay for Your Child’s College Education published first on https://thegardenresidences.tumblr.com/

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ballrogers94-blog · 6 years ago

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All You Need To Know About College

College is a huge part of your life, and it's a very important time of transition. There is much to consider, and you want to be fully prepared. While living through it will complete your experience, there are things you can do to help you in your planning. Keep reading to find out what to do! Don't worry about choosing your major right away. Most schools give you until your junior year to select a major, so you should take time to explore different options and figure out what you most enjoy and might want to make a career out of before you select your major. Try to do everything in moderation when you enter college for the first time. https://sites.google.com/view/underwaterbasketweaving means that you should not party too hard or work too hard during your experience. Have a lot of fun, but make sure that you understand you are going to college to learn and expand your possibilities for employment.

Make certain that you have your FAFSA submitted very early in the year. This is the financial aid that is automatically given by the government.

The earlier you apply, the more certain you are to receive your benefits. Sometimes, the finances can run out, especially at smaller educational institutions. Be prepared! Organization of your time, your schedule and your responsibilities is essential to making your time in college count. You should know exactly where you have to be, when you are supposed to be there and how you will get there. If you are not organized, you will soon be confused and late with assignments. If you are an adult going back to college, try signing up for night classes. The classes during the day time are full of young adults right out of high school. The night classes are usually filled with adults and students who are serious about their education. go to this site will result in a much better college experience. Do not fall into the credit card company's tricks where they give you a credit card. These cards have high interest rates, and they aim to prey on college students who have no money. There are many instances in which college student's default on these cards because they understandably have no money to pay them back. Take notes while in class. Taking notes helps you learn the information given. You will also find that it makes studying the material that much easier. Even if the things you're hearing are something you already know, make a habit out of writing everything down. On the day of your exam, go to the bathroom ahead of time. This may sound self-explanatory, but there are so many things to remember on test day that it's easy to forget. When testing, you want to eliminate as many distractions as you can and your bladder can be a big distraction. Set yourself up for success in college by taking your habits and ideas into consideration. For example, think about whether you are a morning person or an afternoon person. If you aren't a morning person, don't even think about signing up for an early class. Schedule courses later in the day so you won't be tempted to skip. It is now time for you to start thinking about your future and make some educated decisions. If you need help, go to a career counselor or schedule an appointment with an academic adviser from the school you are interested in. You will get the best from your college experience if you choose the right school and the right program.

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ixvyupdates · 6 years ago

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Her School Didn’t Just Get Her Through College, It Got Her Through Tragedy

Three people, two tragedies and one college visit shaped April Austin’s post-secondary dream of becoming an occupational therapist.

Growing up, April’s grandfather loomed large in her life.

“He helped raise me and always encouraged me to work hard in school,” she says.

When April brought home A’s on her report card from the University of Chicago Charter School Woodlawn Campus (UCW), her grandfather gave her $20, beaming with pride. Her stepfather, who also preached the value of a strong education, gifted her with new sneakers.

April describes her grandfather as someone with a drive to persist in the face of adversity, the kind of person she strives to be. He lost his leg while working with trains and spent considerable time in occupational therapy learning how to use a prosthetic. That planted a seed for April. She saw the impact of a talented occupational therapist.

“A good therapist can give people hope,” she says. “I want to be that person.”

Stepping Up

When April lost her grandfather in high school, she had her mom and stepdad at home and a huge support system at school to help her through. UCW staff and students supported her emotionally and ensured she stayed on track academically.

However, it was the campus’ relentless focus on college—coupled with her grandfather and stepfather’s attention to education—that convinced April from an early age that college attendance and graduation were in her future.

A strong college-going culture is evident at UCW, which serves predominantly low-income Black students in grades 6-12 on the South Side of Chicago. College banners hang from the ceilings and walls, students recite morning affirmations that reinforce that they will attend and succeed in college, and college tours start in sixth grade.

The school has a chief college officer dedicated to supporting students in their quest to make it to college, and a chief alumni officer dedicated to helping UCW graduates make it through college. These tactics and supports are working. One hundred percent of UCW’s students have been accepted to college for the past six years, and UCW has one of the highest college persistence rates of all non-selective high schools in Chicago.

“The entire staff helped and motivated my class, when it came to college,” April says.

UCW works hard to ensure that its students attend colleges and universities that are the right match for them based on selectivity and ability to meet educational, emotional and social needs. It stresses the critical importance of being on track in the ninth grade and the importance of GPA over test scores for college success based on University of Chicago on School Research studies.

April says she was laser-focused on never allowing her GPA to slip below a 3.0 throughout high school. She went on multiple college tours with her school. When she visited Tennessee State University (TSU), a historically Black college in Nashville, it was love at first sight. “I just had a feeling,” April says. “This was my place. I was going.”

When April received her acceptance letter to TSU, she was full of joy. Her father lives in Tennessee, making her eligible for in-state tuition and UCW held multiple workshops on filling out the FAFSA, so April felt prepared to meet her remaining financial obligations.

“My financial aid package was enough to cover the rest. Otherwise, I wouldn’t have been able to attend,” she explains.

One of the first in her family to attend college, particularly far away from home, April initially found the students and atmosphere at TSU strange. Everything and everyone felt different from Chicago, but UCW had armed her with the tools to navigate choppy waters.

UCW provides students with a 14-week College Transition Seminar that is meant to help students persist through college by ensuring mental, emotional and financial health. The course includes the development of a senior thesis project that teaches students how to complete academic research and college-level writing.

The course also covers issues like class registration, the difference between credit and non-credit courses, the add-drop period, finding a job or federal work study program and, of course, financial aid. Additionally, students role-play difficult challenges that could create roadblocks to college completion. For example, what do you do if your roommate hangs up a Confederate flag or you experience micro-aggressions on campus? The seminar helps students prepare and problem-solve for such issues.

Furthermore, UCW alumni return for panels to discuss college life, challenges and successes with graduating seniors. UCW provides seniors with dossiers on their college or university, including phone numbers for academic and mental health support. UCW staff visit graduates on their campuses, take them out to dinner and offer advice. They also hold multiple events for alumni in Chicago, timed with college breaks.

April used the tools she developed at UCW to persist through uncertainty and discomfort. She worked to find a sense of belonging by joining multiple sports teams, activities and clubs, as well as doing community service.

“Being involved is everything,” she says. “It also keeps you focused on the right stuff.”

April quickly declared health science as her major with her eye on graduate school for occupational therapy. But, in her sophomore year, tragedy struck. Twice.

Staying Involved When Life Gets Hard

During spring semester, April received a call that her older brother had been in a car accident. Nine days later, he passed away. It was this accident that fully solidified for April that she wanted to be an occupational therapist.

“If my brother had lived, he would have needed a lot of occupational therapy,” she explains.

Another loss was just around the corner. Mere months later, April’s stepfather was shot at his mother’s home. April was left reeling and angry.

“My stepfather was murdered by a young father,” she says. “I ask myself how could he do this? He took my stepdad away and now his own son will grow up without a father.”

The summer between sophomore and junior year were tough. Lesser challenges would have derailed someone with less vision for her future. April says she leaned on family and friends, had hard conversations with God, and eventually relied on her steel resolve to succeed.

“I’ve always felt like I knew what I was about and what I have to do. There are hard things that happen in life, but I’ll be okay,” she says.

Despite all the tragedy, April spent her entire college career on the dean’s list and graduated from TSU with a bachelor’s in health science in 2018. She is now working at Vanderbilt Medical Center as a patient access specialist and preparing to apply to graduate school to realize her goal of becoming an occupational therapist.

Inspired by her grandfather, supported by her family, and resilient through tragedy, April made her own future possible. Even so, she says, “UCW made college possible for all of us.”

Photo courtesy of author.

Her School Didn’t Just Get Her Through College, It Got Her Through Tragedy syndicated from https://sapsnkraguide.wordpress.com

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demikbrayus · 7 years ago

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Best Private Student Loans of 2018

This article first appeared on aaacreditguide.com at AAACreditGuide.

Getting federal student aid is the best way to kickstart the funding of your college education. Federal student loans, grants, and work-study jobs are all excellent ways to get the money you need to pay for tuition and all of the other expenses that come with college. But with costs soaring for American students across the country, federal aid often isn’t enough to cover all your needs.

That’s where private student loans come in.

When you’ve exhausted all of your other options and still come up short, working with a private student lender can help you get the funds you need. They’re not as borrower-friendly as a federal student loan, but you can still find some with attractive rates and terms. Here are our top picks for best private student loans to help your search get started.

SoFi

SoFi doesn’t provide loans directly to students, but they do offer parent loans. Fixed rates are low, starting at 4.25% APR and can go up to 8% APR.

Variable rates, on the other hand, range between 3.69% and 7.12%. These rates all assume that you’ve signed up for autopay, which gives a discount when you enroll. If you don’t, expect to pay slightly more on both types of rates.

According to SoFi, parents can actually save with their loan product compared to the Federal Direct Parent PLUS loan. Not only are their rates lower, they also don’t charge an origination fee. However, SoFi doesn’t offer any type of income-contingent repayment plan as the federal PLUS loan does.

Unlike a typical student loan SoFi’s parent loans don’t include any type of deferment period, so you’ll begin making payments as soon as you get funded. The minimum borrowed amount is $5,000 and goes up to the total cost of attendance.

If you ever need another kind of loan offered by SoFi, you will receive a member rate discount of 0.125%. Another member perk is that you receive access to wealth advisors and career coaches.

Visit SoFi

CommonBond

CommonBond actually allows for student loans designed specifically for students, not their parents. You can find loans for both undergraduate and graduate programs, catering to a larger amount of borrowers.

Since the loans aren’t for parents with more established credit and higher income levels, CommonBond’s rates are slightly higher than SoFi’s.

How much higher?

Fixed rates start at 5.48% and cap out at 9.67% while variable rates start at 3.87% and go to 8.95%. Still, compared to the current federal student loan rates for graduate loans, you might actually get a good deal.

Another factor to consider when applying for a CommonBond student loan is the fact that you’ll need a cosigner. Once you make two years of payments, however, you can apply for a release so that you’re the only borrower on the loan.

You’ll receive a six-month grace period after graduation, but your loan still gains interest during this time. If you ever experience economic hardship, you may also apply for forbearance, which is a pretty nice perk for a private lender. While you never want to have to use that type of protection, it’s good to have the option in your back pocket.

Visit CommonBond

Credible

Credible.com is a student loan marketplace that helps you find multiple private financing options for your college tuition — all using a single application.

Rates are also extremely competitive through Credible’s network of student lenders. When picking a fixed rate, you could find deals as low as 3.5% APR. Comfortable with a variable interest rate? Those start at just 2.14%.

Another perk of using Credible to find your student loan is to take your pick from a variety of repayment options. You can choose deferred payments, interest-only, and others. It just depends on what you need.

In addition to matching you with loan originators, you can also find refinancing options through Credible. In fact, they claim that their users average a savings of $18,668 when going through this process. That’s a lot of money saved!

Credible’s network also allows the option of applying for a student loan or refinance along with a cosigner. So if your credit history is poor or simply limited, you may qualify for better terms with the help of a cosigner. Once you start making on-time payments, you can typically release the cosigner after 24 to 36 months.

Visit Credible

Ascent

For flexible private student loan options, consider Ascent. You can get either a tuition loan that requires a cosigner, or an independent loan that’s just for students, either undergraduate or graduate.

Rates start off quite low for private loans, with fixed loans beginning at 4.87% and going as high as 14.36%. For a variable loan, expect to pay between 3.49% and 12.74%.

You can also receive a 0.25% reduction in your interest rate if you sign up for autopay on your monthly bill. Loan amounts range from $1,000 up to your cost of attendance, although your total loan amount can’t exceed $200,000. This is actually a pretty low minimum, so if you need a smaller private student loan to bridge the gap in your financing, Ascent may be a good fit.

Terms last either 5, 12 or 15 years but choose carefully because you can’t change the timeline once you receive the funds. While you’re still in school, you can choose to defer payments (with interest accruing, of course) or make interest-only payments.

Want to cut back on the amount of interest you pay over time?

Ascent also offers the ability to do a $25 minimum payment plan while you’re in school. It’s not a huge financial burden, but can save you more compared to deferred payments. Worried about your future job prospects? After graduation, you can apply for financial hardship forbearance if needed — something many private lenders don’t offer.

Visit Ascent

SunTrust

For flexible repayment terms and competitive interest rates on student loans, SunTrust is a strong contender.

You can borrow between $1,001 and $95,000 over a 7, 10, or 15-year term. And with deferral and interest-only payments available while you’re in school, you don’t have to worry about stretching your pennies too far until you graduate.

When you do, you could also qualify for a 1% deduction on your principal balance. On a $50,000 private student loan, that would amount to $500 — not bad! It’s a nice benefit assuming all other things are equal (particularly your APR). Once you start making regular payments, you could also get up to a 0.5% discount on your interest rate, which is one of the highest we’ve seen.

So what exactly are SunTrust’s interest rates for student loans?

For a fixed loan, the range is 4.75% to 11.5% APR. For a variable loan, the range is 3% to 10.05% APR. You’ll likely need a cosigner, particularly for undergraduate loans but there’s a simple release process once you’ve made enough consecutive payments on time.

Visit Suntrust

Discover

Not only does Discover offer undergraduate, graduate, and parent loans, it also rewards students for academic achievement.

You can earn a 1% cashback reward on each new loan when you earn a 3.0 GPA or higher. Discover also boasts no fees, including no late fees.

So what are the specifics for a Discover loan?

Rates start a bit higher than some of the other private lenders. Fixed loans are between 6.24% and 12.99% while variable loans are between 3.87% and 11.12%. Despite slightly higher fixed rates, you do get some flexible repayment terms, including forbearance for a financial hardship and the ability to temporarily reduce your payments.

Another unique benefit is that Discover gives you ongoing access to loan specialists who can assist you at any time, day or night. So if you think you’ll have questions or feel insecure in the student loan process, this could be a worthwhile option for you.

Visit Discover

Sallie Mae

Offering a broad range of student loans, Sallie Mae can fit a lot of different needs. You can get private student loans for both undergraduate and graduate programs, as well as parent loans if they’d rather take on the financial burden instead of the student.

What kind of interest rates can you expect?

For fixed-rate loans, interest rates start at 5.75% and go up to 12.87%. Variable loans come with rates between 3.25% and 12.62%. If you can get on the lower end of that fixed rate range, it’s just about 1.25% more than a direct federal student loan.

When you’re in school, you can defer payments until after a six-month grace period upon graduation, but interest still accrues. Alternatively, you can make interest-only payments during your school years to help lower the financial burden.

Another option is to make a fixed payment during school and your grace period, which can save you money over time compared to the deferred payment option.

For example, a $25 monthly payment during that period could save you 12% compared to deferring payment altogether. It’s easy to apply for any student loan online with Sallie Mae, and you can receive a decision in about 15 minutes.

Visit Sallie Mae

When to Use a Private Student Loan

We briefly mentioned that federal aid almost always provides better benefits to students than a private student loan does. To make sure you’re getting the best funding for your college education, make sure you fill out the Free Application for Student Aid (FAFSA). You need to do this each and every year you’re in school, not just for your freshman year.

Applying for the FAFSA offers need-based financing and can include several different types of aid. Grants are available, which don’t need to be repaid as long as you continue to meet their eligibility criteria. This is obviously the best choice because it’s free money! But of course, it won’t cover your total cost of attendance.

The federal government also offers student loans. While many private lenders are managing to offer interest rates that are somewhat competitive with federal loan rates, they can’t beat the flexible repayment options.

There are a variety of income-based repayment plans, as well as student loan forgiveness for certain types of professions. A final type of aid offered by the federal government is the work-study program.

This lets students qualify for (usually) on-campus part-time jobs that are related to their area of study. You can also apply for scholarships through your college, corporations, and community organizations. Once you’ve exhausted all of these options and still come up short for your college funds, then it’s time to consider a private student loan.

It seems like a lot of work to apply for each type of student aid, but it’s an extremely important process. Borrowing tens of thousands of dollars may not seem like a big deal right now, but those monthly bills are going to stick with you for a long time. Give yourself the time and space to maximize your aid so that you can minimize your financial load in the future.

How to Pick the Best Private Student Lender

Once you determine that you do in fact need a private student loan to meet your college costs, make sure you make the right choice. Start by figuring out if you need a private student loan that goes under your name or your parents.

For direct student loans, decide if you’ll have access to a cosigner (like a parent) or if you’ll take on the burden entirely on your own. Those decisions alone can narrow down your lender.

Next, think about what your income will be like when you’re attending school. Will you have a part-time job or ample savings on hand to take care of any payments due? If not, you may need to find a lender who offers deferred payment, even if it means accruing more interest.

You may also be interested in future forbearance options. No one wants to imagine themselves as going through financial hardship once they’ve earned their degree, but it’s a very real possibility for anyone. If you don’t have a strong financial safety net, you may benefit from choosing a private lender that has some type of financial hardship repayment flexibility.

Predicting your future needs for student loan repayment is like gazing into a crystal ball, which we simply can’t do. So the best way to tackle the issue is to hope for the best, but prepare for the worst.

You likely don’t know what your job situation or income will be like by the time you graduate, so try to buffer in as much flexibility as possible. Also be careful with your spending and refrain from racking up unnecessary debt. Your future self will thank you!

from Credit And Credit Repair https://aaacreditguide.com/best-private-student-loans/

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mygreatlakes-blog · 7 years ago

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Getting a Student Loan Without the Cosigner

mygreatlakes login Locating a student financial loan without a cosigner nowadays is getting harder as well as harder. Banking institutions tend to be more picky than ever regarding the type of people these people are willing to provide money to, and really- who can blame all of them? It had been a rough couple of years for your financial business, and they have to safeguard themselves now. The issue arrives when they begin protecting on their own from individuals like you- students who else need money to achieve their own education and profession objectives, and who have absolutely no real income because associated with their put in place the academic journey.

mygreatlakes login

The process regarding obtaining a student loan is actually made easier for those who have any co-signer to help a person, however, not every student offers entry to a reliable family members member or buddy along with a credit score higher enough to become a cosigner. In case a parent provides poor credit score can not really get university loan. Some other students possess eligible folks available, smaller want in order to risk embarrassment or even clumsiness by admitting a purpose with regard to help. Other college students simply don't have the type of romantic relationship with possible cosigners to inquire them regarding that kind of assist.

If you are some sort of student in any of those situations, then do certainly not quit hope yet. Generally there are still choices away there for students together with no co-signer. Finding a new student loan without the co-signer is possible. This particular article will give an individual a number of tips anyone can follow and some hyperlinks you can check out there to assist you in finding a college student loan without a co-signer.

1. The FAFSA

Odds are this is not the actual first time you have got noticed FAFSA mentioned. The actual FAFSA, or the Totally free Application With regard to Student Help can be a truly huge resource and aid for individuals like you searching for a student personal loan with no cosigner. The FAFSA requires a while to fill up out, which explains why many pupils want to by pass this particular step, but that might be an error. The FAFSA can tell you actually exactly what grants and scholarship grants tend to be available to students within your particular situation. It may also open new pupil loan opportunities- most of them becoming college loans that not necessarily need cosigners.

The FAFSA can also give a person important information concerning almost all the different financial help options that are offered to an individual like is a education loan an installment on credit score, or how many credit do i require to get monetary aid?

The other neat thing about filling out your own FAFSA is not just that it is totally free, however that there are usually more than likely men and women employed at your college to focus on this record. Many colleges get scholar aid facilities wherever persons are paid to support scholars just like anyone fill out the FAFSA properly and get the particular educational funding they need to be able to be successful. Find they and take advantage involving the wonderful present your current college has made . Filling out the FAFSA is an excellent step towards discovering a student loan with out a cosigner.

2. Government Financial loans

There are a quantity of government loans available today. Many students pass more than these types of loan options simply because they usually do not give out and about very much at any time. The reality is, no federal government funded mortgage will provide you all the cash you will need for a term unless you also provide a few kind of scholarship. Nevertheless, even though $2, 000 through a Kendrick loan will not pay all of your bills, this is $2, 000 much more than you would include had with no Perkins college loan, and that is simply no small drop in typically the pail. Plus- they are generally all offered without having cosigners. Here are some connected with the authorities loans all of us think you should consider:

Subsidized Stafford Loan: This is actually the best government loan available for students. It will be a student loan without having a cosigner. It is some sort of student loan and not using a credit rating check. It is a new student loan with no significant interest payments because that continues to be subsidized. Apply intended for a Stafford Financial loan, and also you will almost definitely qualify for students financial loan without a cosigner.

Unsubsidized Stafford Loan: This is usually the identical to the earlier no cosigner educational loan other than that the interest is definitely not backed, so you actually will pay out a lot more over the life associated with the personal loan than often the subsidized loan.

Kendrick Personal loan: These loans great along with easy to apply to get, but are much less well-known as they have the cover on the quantity they can offer each per year, and general. They are a zero credit rating student loan in addition to a student loan with out cosigner- so definitely some thing to look into.

Within the end- all regarding these loans can obtain you the thing you need without any student loan cosigner as well as student loan no credit history checks North america or ALL OF US, but most of these loan alternatives can give you additional money if you have some sort of co-signer. For those who have simply already been afraid might someone for you to take a risk upon you, then you will would like to have them check into these loans as they will are a lot less risky and also the interest rates tend to be lower than the university student loans you will discover at a new bank.

Look For Nearby Boosters

If you usually are going to college, then you definitely are most likely residing in a college city. Here is a small secret with regards to college towns- they NEED university students! These people love you. Regional companies thrive off of a person. Local housing owners endure by you. The populace from the town you reside in may complain greatly about all of the noisy school goers- however they need an individual, and this creates the lot of local booster gadgets along with scholarship opportunities. Appear around with regard to local possibilities to get backed via school. The average college student with poor credit requirements $7, 000 loan for each session to get by means of school. Many need to know more, based on the school, region, in addition to situation of the actual student. A great way to get any head start on which $7, 000 is to help get guide from the particular local businesses that require your own personal presence to survive.

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buycustompaper-blog · 7 years ago

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Financial Help Guidelines

.Financial Aid Suggestions

I want to make some guidelines to greatly help alleviate the pressures of spending for the knowledge. First, if you are not sure of what you ought to do, as an individual who works in the school funding Office. They shall describe where you require to begin and exactly what kinds you want to fill in. Second, make certain you file all kinds which can be needed deadline dates approach. That way, if you can find corrections or delays you will have plenty of the time to resolve all of them. Third, know your costs which are academic determine how your aid impacts the costs so it will be paid on time. Finally, educational funding qualifications rely on financial need and development this is certainly educational. Pupils should seek the advice of the Financial Aid Office when given guidance to repeat courses; it might affect your grants and loans adversely. The range this is certainly bottom to inquire about questions when in doubt. Let 'us' assistance you. Capstone Project.

Completing Financial Aid Forms

The important thing to acquiring aid that is monetary next year is always to accurately finish the complimentary Application for Federal Student Aid (or restoration FAFSA) by May 1. This form shall enable you to qualify for national, state and campus-based aid. Often times pupils and moms and dads are overrun by the complexity of these forms. As opposed to establishing them apart for the next, we recommend which you call your institution's school funding Office for assistance day. I'd hate to see you lose out on school funding opportunities as you missed a due date that is essential wrongly completed a form. In inclusion, you really need to additionally contact our workplace to ensure that you are fulfilling the needs which can be an academic restoration of the economic aid. We could sit-down and evaluate just what steps is taken to hold aid eligibility when you have struggled academically. Therefore talk to the working company to make sure that finances come in order.

Avoid Bank Cards

Charge cards are as American as apple-pie. Nonetheless, as university students, you ought to be conscious that credit comes at a price that you might not manage to afford. There are many known reasons for having a credit card, such as disaster money as well as a form of recognition for many different deals. Buying pizzas and other investing that is frivolous not meet up with the criteria for the crisis. Running the debt for a credit card where you cannot meet the repayments may result in the credit business to place your bank account in the tactile arms of the collection company. These agencies may be ruthless and very tenacious within their zeal to get their money. Their calls are irritating and nerve-racking when it comes to social people left to manage them. So remember, it carefully when you have credit cards, use. This credit is a loan to back be compensated -- not a present. Intentional non-payments amounts to stealing and it also has repercussions that are economic many years. Plus, the badgering of the lenders could cause grades to slide. Grant Proposal.

Using Charge Cards to cover for Your Knowledge?

Irrespective of just how much you tend to be thought by you like to obtain a credit card--DON'T. Credit card issuers feast off college that is naive in need of assistance of quick cash for publications, products, rent and various other necessary items. Since college students have minimum money, charge cards may actually be described as an option this is certainly logical financial woes. Unfortunately, the credit card restriction is quickly exceeded, so students get more than one credit cards so they can make payments regarding the debt this is certainly built up. Students start to begin to see the mistake in his or her method before also long, usually because of the sophomore year. Efforts to settle the huge responsibilities that are monetary a selection of bad effects: on necessary expenses. Student finds they require to work overtime or find a moment job to have additional money to pay for their financial obligation down.

Students begin "slacking off" within their studies because they are fatigued from the absence of sleep.

Students start showing signs and symptoms of ill-health and develop stress-related problems because they can not match the bills which can be incoming.

Students eventually start to realize the lifespan this is certainly social had during their particular very first semester in college is really a subject put to rest.

The people that are the only advantage from college pupils being issued charge cards will be the creditors themselves.

Savvy Beginner Consumerism

Listed here are some suggestions which are fast serious customers which desire to spend less and give a wide berth to getting with debt at college. Students who enjoy apartment residing at college may be surprised at how money this is certainly fast invested on necessary expenses. While trips to the market, I can not over-emphasize the usefulness of discount coupons. Next time you even consider putting out of the coupon section of the paper, hold it Sunday. Each one of these .75 off coupons double and start to become $1.50 off per item. By buying sale things and using a coupon, your grocery costs are drastically paid down. University is just a perfect amount of time in your resides to begin to build credit this is certainly great. Running a credit card the very first time is exciting, but remember it's also an obligation this is certainly big. Within a world--we that is perfect only utilize credit cards for emergency reasons, but realistically a lot of us tend to be tempted to use the card on impulse while shopping. Which is fine if you pay extent this is certainly whole thirty days. But, the difficulty starts when our balances begin to mount up. Smart students should seek every opportunity to save cash when you're an intelligent buyer and a customer that is savvy. Research Report.

#essay #essay writing #write my essay #essays & memoirs #write my #write my paper #write my assignment #write my story #thesis #homework

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onlinemarketinghelp · 5 years ago

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Trump Student Loan Forgiveness Changes And Proposals https://ift.tt/32s48h2

President Trump has already made some major changes to student loan forgiveness programs - and most people don't know it. Combine that with the future proposals rolled out by Education Secretary Betsy DeVos, and there could be an outcry around Trump student loan forgiveness.

Let's break down the changes Trump's administration has already done with student loan forgiveness, and then talk a little bit about the proposals that he's made.

Remember, proposals are just that - proposals. It doesn't mean that these changes will go into effect. However, it's a great reminder for people with student loans that it might be a good time to take action on your debt if you've been neglecting it.

With most proposals, they take effect for future loan borrowers - that means, if you're in a repayment plan or student loan forgiveness plan right now, you'll likely be grandfathered in.

It sounds like it could be confusing, but it doesn’t have to be. You can sign up for these programs for free at StudentLoans.gov.

Okay, so let's talk about the potential changes to student loan forgiveness programs.

If you're not quite sure where to start or what to do, consider hiring a CFA to help you with your student loans. We recommend The Student Loan Planner to help you put together a solid financial plan for your student loan debt. Check out The Student Loan Planner here.

Quick Navigation

Trump Student Loan Forgiveness Changes

Tax Free Death And Disability Student Loan Discharge

Tuition And Fees Deduction Eliminated

Trump Student Loan Forgiveness Proposals

Elimination Of Public Service Loan Forgiveness (PSLF)

Elimination Of Subsidized Student Loans

Eliminate Most Repayment Plans In Favor Of A Single Income-Driven Repayment Plan

Allow Student Loans To Be Discharged In Bankruptcy

Elimination Of The Student Loan Interest Deduction

What Should Borrowers Do Today?

Final Thoughts

Trump Student Loan Forgiveness Changes

Let's first talk about some of the things that have changed under the Trump administration so far. These are changes that have already gone into effect - they are the law. However, remember these laws can always be changed in the future.

Tax Free Death And Disability Student Loan Discharge

We've discussed before in our article on secret ways to get student loan forgiveness that, unless you're in a qualifying program, most student loan forgiveness and student loan discharges are considered taxable income.

That means if were to get $50,000 in student loans forgiven, it is considered income. If you made $35,000 working, your total income for the year would now be $85,000. The result? A higher tax bill. Borrowers could see their tax bills rise by $10,000 or more!

To make matters worse, if you're getting your loans discharged due to total and permanent disability, this "income" could disqualify you from aid programs that you might rely on.

However, Trump tax plan, known as the Tax Cuts and Jobs Act, eliminated the taxability of student loan discharge on people who get it for Death or Total and Permanent Disability. That means, if you are getting student loans discharged on death or disability, you no longer will face a tax burden (or your family won't).

It's important to note that this provision only went into effect on January 1, 2018 - and so any loans discharged in 2017 will still face taxes. Furthermore, this provision is set to expire in 2025 unless Congress renews it.

You can learn more about disability discharge here.

Verdict: Good.

We think this is a very good change to student loan forgiveness that is common sense.

Note: Furthermore, on August 21, 2019, Trump directed both the Secretary of Education and Secretary of Veterans Affairs to find a way to make this automated for veterans who qualify. That would be a huge win for the 50,000 or so veterans who should get their loans forgiven.

Tuition And Fees Deduction Eliminated

The tuition and fees deduction has been eliminated under the Tax Cuts and Jobs Act. The tuition and fees deduction was actually an extender that expired at the end of 2016. The tuition and fees deduction allowed taxpayers to reduce their taxable income by up to $4,000.

However, while there were proposals to eliminate or change other education tax credits - such as the American Opportunity Tax Credit and the Lifetime Learning Tax Credit, those tax credits stay the same under the new law. However, there are income limits to these education tax credits, so the tuition and fees deduction provided some relief to high earner tax payers.

Verdict: Mixed.

While we're sad to see this tax deduction go, there are others still available and this was mostly taken advantage of by high earners.

Trump Student Loan Forgiveness Proposals

There have been a lot of proposals that people have been concerned about with the Trump administration. It's important to note that none of these proposals are the law, but that doesn't mean they aren't changes the President wants to see.

Whether you're for or against these changes, you need to know what they are and what they could mean. Then you should voice your concerns to your representative in Congress.

Elimination Of Public Service Loan Forgiveness (PSLF)

President Trump, along with Betsy DeVos, have called for the elimination of Public Service Loan Forgiveness (PSLF) on several occasions. PSLF is one of the top ways to get student loan forgiveness in the United States.

In his first budget proposal for 2018, he attempted to defund PSLF. This raised a series of legal questions (because whether there is money or not, it's still the law, so what would the Department of Education do), and eventually the proposal was dropped.

However, in his next budget for 2019, Trump has once again proposed eliminating Public Service Loan Forgiveness.

It's important to note that the proposed changes would apply to new loans after July 1, 2019. So, it currently appears that those with existing loans would be grandfathered in.

Changes to loans would apply to borrowing after July 1, 2019, not including those loans provided to borrowers to finish their current education.

Verdict: Bad.

You will have fewer people pursuing work in public service, government, law enforcement, teaching, and more. Given many of these fields require a degree, it could be difficult for highly qualified people to get a degree and then work in these lower income fields that are valuable to the United States as a whole.

Elimination Of Subsidized Student Loans

Trump has also proposed the elimination of subsidized student loans in his 2019 budget proposal. Subsidized student loans provide student loan borrowers with significant assistance - with the government paying for interest accrued during school. This can result in significant savings for borrowers.

The government issued 5.7 million subsidized student loans in the 2016-2017 school year. These loans go towards students with a financial need, based on filling out the FAFSA.

Verdict: Bad.

These loans only go towards students who have a financial need. They will still borrow to pay for college, but now it will be more expensive.

Eliminate Most Repayment Plans In Favor Of A Single Income-Driven Repayment Plan

President Trump has proposed the elimination of all the income-driven repayment plans (IBR, PAYE, RePAYE, ICR) and replace them with a single income-driven repayment plan.

This new repayment plan would cap borrower's monthly payment at 12.5% of their discretionary income. It would also provide for student loan forgiveness at 15 years for undergraduate borrowers, and 30 years for graduate borrowers.

Trump has made comments that he would like the government to cover the cost of student loan forgiveness under his new plan - which leads us to believe that it would be tax free student loan forgiveness. However, this has not been clarified, and it would be different than the current existing income-driven repayment plan programs.

Verdict: Mixed.

Some borrowers will benefit by seeing their income driven repayment amount drop to 12.5%, while others will lose by seeing it rise from 10%. Also, the repayment term of 15 years could benefit a lot of undergraduate borrowers, but the 30 year graduate term is longer than all existing plans today. Finally, the forgiveness aspect is important - a shorter repayment term could mean bigger forgiveness, but if that's taxable, that could be harmful.

Allow Student Loans To Be Discharged In Bankruptcy

This proposal comes from the Department of Education, which announced that it was seeking comments on how to determine "undue hardship" to allow student loans to be discharged in bankruptcy.

It's important to know the history of this. Before 1998, student loans could be discharged in bankruptcy after the seventh year of repayment. However, after 1998, student loans were prohibited from being discharged in bankruptcy except in cases of "undue hardship"

However, Congress never defined what undue hardship meant, and so the courts have taken it upon themselves to decide - and it's not always uniform.

Regardless, undue hardship is a very high bar to clear - because you essentially have to prove that you'd never be able to afford your loans, even on an income driven plan, for the rest of your life. Given that income-driven plans offer such low payments based on income, it's tough to prove.

It's why many people simply write off the ability to get student loans discharged in bankruptcy, even though it's theoretically possible.

Verdict: Mixed.

For some borrowers, the ability to get out from un-payable student loan debt would be a blessing. Just read some of the comments on this article. There are clear cases where student loan debt is un-payable and is an undue hardship.

However, changing the rules around bankruptcy and student loan debt could seriously disrupt the marketplace for student loans - making it more difficult and more expensive for borrowers to get a loan. Given that the collateral for student loan debt is future borrower earnings, making this collateral less secure will drive up prices.

Elimination Of The Student Loan Interest Deduction

In the Tax Cuts and Jobs Act, Trump originally proposed eliminating the student loan interest deduction. While it was saved in the final bill, it doesn't mean that Trump still wants to see it eliminated.

The student loan interest deduction provides up to $2,500 in deduction of the interest you paid on a student loan.

While this is a handy savings, it does phase out at relatively low income levels.

Verdict: Good.

I believe that the student loan interest deduction is a misaligned incentive that doesn't do anything, but does cost taxpayers money.

What Should Borrowers Do Today?

If you're a borrower concerned about these changes, there are a few things that you can do today to at least be prepared, if not proactive.

First, ensure that you know what programs you're on with your student loan debt. You should know your repayment plan, know your forgiveness program if you're going for it, and know your options.

Second, you need to ensure that you're current on your loans and not in student loan default. If you are, look at rehabilitating your student loans as soon as possible to get on track. If Trump does change student loan repayment plans, it could be more difficult for you if your loans are in default.

If you're not sure about either of these, consider checking out our free 5 Day Get Out Of Student Loan Debt email course.

You can also consider professional help. Remember, you can do everything with your Federal loans for free at StudentLoans.gov.

Final Thoughts

It can be scary to think about all of these different student loan repayment plans and student loan forgiveness programs changing.

However, plans have changed before, and they will again in the future. Trump's student loan forgiveness plans and proposals are a little scary, but they are currently only going to apply to future student loan borrowers.

As such, if you have student loans today, you need to take action and start making progress on them.

The post Trump Student Loan Forgiveness Changes And Proposals appeared first on The College Investor.

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Let's break down the changes Trump's administration has already done with student loan forgiveness, and then talk a little bit about the proposals that he's made.

With most proposals, they take effect for future loan borrowers - that means, if you're in a repayment plan or student loan forgiveness plan right now, you'll likely be grandfathered in.

It sounds like it could be confusing, but it doesn’t have to be. You can sign up for these programs for free at StudentLoans.gov.

Okay, so let's talk about the potential changes to student loan forgiveness programs.

Quick Navigation

Trump Student Loan Forgiveness Changes

Tax Free Death And Disability Student Loan Discharge

Tuition And Fees Deduction Eliminated

Trump Student Loan Forgiveness Proposals

Elimination Of Public Service Loan Forgiveness (PSLF)

Elimination Of Subsidized Student Loans

Eliminate Most Repayment Plans In Favor Of A Single Income-Driven Repayment Plan

Allow Student Loans To Be Discharged In Bankruptcy

Elimination Of The Student Loan Interest Deduction

What Should Borrowers Do Today?

Final Thoughts

Trump Student Loan Forgiveness Changes

Tax Free Death And Disability Student Loan Discharge

To make matters worse, if you're getting your loans discharged due to total and permanent disability, this "income" could disqualify you from aid programs that you might rely on.

You can learn more about disability discharge here.

Verdict: Good.

We think this is a very good change to student loan forgiveness that is common sense.

Tuition And Fees Deduction Eliminated

Verdict: Mixed.

While we're sad to see this tax deduction go, there are others still available and this was mostly taken advantage of by high earners.

Trump Student Loan Forgiveness Proposals

Whether you're for or against these changes, you need to know what they are and what they could mean. Then you should voice your concerns to your representative in Congress.

Elimination Of Public Service Loan Forgiveness (PSLF)

However, in his next budget for 2019, Trump has once again proposed eliminating Public Service Loan Forgiveness.

It's important to note that the proposed changes would apply to new loans after July 1, 2019. So, it currently appears that those with existing loans would be grandfathered in.

Changes to loans would apply to borrowing after July 1, 2019, not including those loans provided to borrowers to finish their current education.

Verdict: Bad.

Elimination Of Subsidized Student Loans

The government issued 5.7 million subsidized student loans in the 2016-2017 school year. These loans go towards students with a financial need, based on filling out the FAFSA.

Verdict: Bad.

These loans only go towards students who have a financial need. They will still borrow to pay for college, but now it will be more expensive.

Eliminate Most Repayment Plans In Favor Of A Single Income-Driven Repayment Plan

President Trump has proposed the elimination of all the income-driven repayment plans (IBR, PAYE, RePAYE, ICR) and replace them with a single income-driven repayment plan.

Verdict: Mixed.

Allow Student Loans To Be Discharged In Bankruptcy

This proposal comes from the Department of Education, which announced that it was seeking comments on how to determine "undue hardship" to allow student loans to be discharged in bankruptcy.

However, Congress never defined what undue hardship meant, and so the courts have taken it upon themselves to decide - and it's not always uniform.

It's why many people simply write off the ability to get student loans discharged in bankruptcy, even though it's theoretically possible.

Verdict: Mixed.

Elimination Of The Student Loan Interest Deduction

The student loan interest deduction provides up to $2,500 in deduction of the interest you paid on a student loan.

While this is a handy savings, it does phase out at relatively low income levels.

Verdict: Good.

I believe that the student loan interest deduction is a misaligned incentive that doesn't do anything, but does cost taxpayers money.

What Should Borrowers Do Today?

If you're a borrower concerned about these changes, there are a few things that you can do today to at least be prepared, if not proactive.

First, ensure that you know what programs you're on with your student loan debt. You should know your repayment plan, know your forgiveness program if you're going for it, and know your options.

If you're not sure about either of these, consider checking out our free 5 Day Get Out Of Student Loan Debt email course.

You can also consider professional help. Remember, you can do everything with your Federal loans for free at StudentLoans.gov.

Final Thoughts

It can be scary to think about all of these different student loan repayment plans and student loan forgiveness programs changing.

As such, if you have student loans today, you need to take action and start making progress on them.

The post Trump Student Loan Forgiveness Changes And Proposals appeared first on The College Investor.

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