Author: Andrew Rombach

Can You Get Emergency Student Loans for an Upcoming Semester?

You are getting ready to start a new semester at college and think you have everything planned. You’ve picked your classes, have a place to live, and your finances are all in place. Then, the unthinkable happens. You or one of your parents lose a job, your financial aid or scholarship falls through, or you find yourself with unexpected room and board, medical, or other expenses. Suddenly, you're looking for emergency student loans and financial aid.How Quickly Can You Get a Student Loan?Student loans are always an option to help pay for college expenses, but it can take a...

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How Long Does It Take to Receive a Student Loan?

Financing your academic ambitions often requires you to obtain student loans, and for most borrowers, that means taking out federal student loans and/or private student loans. As the names would suggest, federal student loans are funded by the federal government. Although federal loans are often serviced by private entities, the rules and regulations that govern them are dictated by the government. Private student loans are provided by private lenders, such as banks, credit unions, or other lending organizations. Private loans and borrowers are held to the rules and regulations (within legal bounds) of the private lender. Both federal and private loans...

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Is Federal Direct Loan Consolidation Right for You?

There are over 45 million borrowers in the United States with over $1.52 trillion in outstanding student loan debt. Many of those borrowers consider federal student loan consolidation as a way to simplify their loan repayment.Consolidation allows borrowers to combine all of their federal student loans into one that requires only one monthly payment. Before consolidating, however, you should consider why you want to consolidate and what the consequences might be.How to Consolidate Your Federal Student Loans Into a Direct Consolidation LoanDirect loan consolidation is part of the federal Direct Consolidation Loan program. You can only use a Direct...

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Does Direct Loan Consolidation Impact Public Service Loan Forgiveness?

If you’re a federal student loan borrower and you work in the public sector, you have likely heard of or are enrolled in the Public Service Loan Forgiveness (PSLF) program. This program is designed to encourage work within the public sector – public education, military, law enforcement, etc. – by offering loan forgiveness to eligible borrowers. Once borrowers have met the program requirements, they can be rewarded by having their remaining loan balance forgiven.In addition to PSLF, the federal government also offers other loan payment programs to all borrowers –public sector employees or otherwise – including Direct Loan Consolidation,...

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Indiana Students Can Get a $25K College Scholarship

Sallie Mae just recently announced that they will be giving away a $25,000 scholarship to seven Indiana high school students. One lucky Indiana high school student could be the winner of a big college scholarship award. In a June 6 press release, student loan company Sallie Mae announced a $25,000 award from its Bridging the Dream Scholarship Program in honor of former Sallie Mae executive Charlie Rocha.The program acknowledges inspirational high school juniors and seniors who excel in academics, athletics, community service, and other school activities yet come from financial backgrounds that might not enable them to achieve their college...

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