Author: Andrew Rombach

Average Cost of College: Tuition, Room & Board, and More Statistics

The cost of a college education has skyrocketed in the last thirty years, outpacing both healthcare and total inflation in the United States. Outstanding student loan debt is at an all-time high, now over $1.5 trillion—higher than the national consumer credit card debt.Private colleges are typically much more expensive than public colleges, and whether or not the student is attending an in-state school plays a large role in the overall price.Each year colleges publish their cost of attendance figures, or COA. Quick Navigation Average Total Cost of College by School TypeAverage Cost of Other Expenses by School TypeAverage Financial...

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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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