Author: Andrew Rombach

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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Report Finds Financial Aid Award Letters Confusing and Inconsistent

A recent report discovered that financial aid letters lacked consistency and transparency, while the amount of aid was often not enough.When it comes to that monumental decision of how to pay for college, financial aid letters reportedly fail to clearly deliver the information that families and students need.In a new report by think tank New America and uAspire, a nonprofit leader on college affordability, researchers analyzed over 11,000 financial aid award letters from the 2016-2017 academic year sent to 6,000 high school seniors nationwide. The review discovered that financial aid was not only insufficient to cover college costs for...

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Women Carry the Majority of Student Loan Debt

A recent report by the American Association of University Women found that women carry the healthy majority of student loan debt. A large percentage of people take out student loans to pay for college, and it’s been seen that women are attending college in greater numbers, thus acquiring plenty of debt in the process. A recent study has supported this to a surprising extent.In fact, women carry about $890 billion in student loan debt, nearly two-thirds of the near-1.5 trillion dollar student loan debt total in the United States, according to a report by the American Association of University Women...

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ELFI Contest Offers $50,000 to Pay Off Your Student Loan Debt

ELFI, a student loan company, is offering $50,000 to pay off one contestant's student loan debt if they win the refinancing video contest.A student loan borrower could win the jackpot to pay off their student loans by entering Education Loan Finance’s (ELFI) new video contest. The student loan company’s contest, dubbed “Empower A Brighter Future,” focuses on student loan debt refinancing and consolidation success stories.You can submit a 20-second to two-minute video explaining how refinancing your student loan helped (or would help) you towards a better future.Videos will be accepted now through June 29, 2018. Entrants must be a...

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