Author: SLR Editor

Should You Refinance or Consolidate Your Student Loans?

Today, the average college student graduates with around $27,975 in student loan debt.If you took out multiple types of loans with different lenders, you’ll be making more than one student loan payment each month. In order to minimize this extra hassle and possibly save some money, many borrowers look into whether or not they should refinance or consolidate their student loans.Refinance vs. Consolidation: What Are the Differences?Although student loan consolidation and refinancing often get grouped together due to their similarities, the details of each activity are important to note. When you refinance your student loans, you take out a...

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Can a Grandparent Act as a Private Student Loan Cosigner?

Before embarking on your college journey, most students today need at least some form of financial aid to afford the steep tuition fees. All students are encouraged to submit a Free Application for Federal Student Aid as the first step in the process. If approved, students may gain access to grants, or they might be approved for a federal student loan. Federal loans under most circumstances do not require a cosigner.But what happens if you don’t receive enough – or any – assistance from the federal government? Once federal options are exhausted, many students turn toward private student loans...

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Should an Aunt or Uncle Cosign on Your Private Student Loan?

If you are expecting to fund college with a private student loan, you’ll likely encounter the problem of finding an eligible cosigner. Although students should always seek federal student aid as a first step to funding their education, total private student loan debt in the U.S. still hovers around $11 billion. It clearly still fills the gaps in funding.How do you choose a good cosigner? Family members are often the first place to look, including parents, siblings, and grandparents. But what about aunts and uncles? How could asking an aunt or uncle to cosign be of benefit to you?...

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Private College 529 Plan Will Add Schools Where You Can Lock in Tuition

The Private College 529 Plan is looking to encourage new colleges and universities to become a part of the program.Private College 529 Plan, a prepaid tuition plan for private colleges and universities, has announced a new president who said he’ll be “hitting the road” to encourage colleges and universities to join Private College 529 Plan. In 2017, nine additional schools became members, expanding the plan to nearly 300 institutions.Robert Cole, the former director of Strategic Partnerships and Community Impact at American Student Assistance (ASA), has been named president, succeeding Nancy Farmer. In his 20 years at ASA, Cole’s concentration...

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What You Need to Know About First Republic Bank Student Loan Refinance

First Republic Bank is a private bank and wealth management company, and student loan refinancing is one of the many options it offers. In terms of refinancing, it boasts fixed rates as low as 1.95%, which are exceptionally low when compared to other lenders.If your finances are in order, your credit score is solid, and you have a healthy and consistent work history, you might be able to lower your rates and pay your student loans off early by refinancing them through First Republic.How to Refinance With First RepublicInterested applicants who feel they meet the requirements can begin the...

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