Expected family contribution (EFC) is a calculation based on information provided on the Free Application for Federal Student Aid (FAFSA®) to estimate how much a student and their family are able to pay out of pocket towards college expenses. The resulting figure is used by colleges and the government to determine how much need-based financial […]
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If youâre struggling under a mountain of student debt, youâre not alone. After all, the average debt load for a recent undergrad is around $30,000. The worst thing to do when experiencing difficulty repaying student loans is to just stop making payments. If more than 270 days pass on a federal student loan payment, or […]
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If you’re struggling to keep up with student loan payments, rest assured you are not alone. In fact, 17% of those with education-related debt were behind on payments in 2019, according to the Federal Reserve . There are many reasons why you may be having difficulty with your loans. Some students may struggle to find […]
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Nobody wants student loan debt. Higher education can be a worthwhile pursuit but it can come with some hefty tuition, housing, and living expenses that many students and their parents need to take out student loans to cover. There is some good news regarding student loans that a lot of people donât know about. Getting […]
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Your student loans have been disbursed to your account, hurray! Tuition is covered and so are your books, but your housing situation still needs attention. Whereâs that money going to come from? If you are considering using student loans for living expenses, or are looking for other options, check out this list of ways to […]
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When you graduate from college, you may be feeling a great sense of accomplishment, along with excitement about the future. As a nice bonus, family and friends may give you monetary gifts to help you celebrate your achievement and start your new life. Whether you receive a small or large amount of cash for your […]
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Loans of any size for any purpose are a bit of a trade-off: The sudden, planned-for infusion of cash can be a powerful tool to facilitate many major life decisions or rites of passage, like pursuing a college degree or becoming a homeowner. But that financial flexibility also comes with equally strong strings attached. Some […]
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Looking for the right place to pay off loans? Unfortunately, thereâs no blinking neon sign for borrowers to âRepay Loans Here.â Instead, borrowers may have to go old school, and make a phone call to meet their new best friendâthe student loan servicer. It all starts with contacting the Federal Student Aid Information Center to […]
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If you fail to make a student loan payment by its due date, your loan becomes delinquent, and there are all sorts of consequences that can result, from late fees to having your loan sent to collections. These consequences will typically depend on how long your loan is delinquent and whether you have a federal […]
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The U.S. Navy offers service members a proud and venerable tradition, having patrolled the seas since its inception in 1775. Almost 250 years later, the Navy still offers its sailors a remarkable life experience, a chance to serve the country, and a host of benefits that make life somewhat easier for military personnel. One perk […]
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