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The latest news, trends and information to help you with your recruiting efforts.

Posted November 22, 2013 by

4 Options for Relief From Your Staggering Student Loan Debt

Young female college student lifting a student loan sign

Young female college student lifting a student loan sign. Photo courtesy of Shutterstock.

If you’re saddled with overwhelmingly high student loan debt, you aren’t alone. The Consumer Financial Protection Bureau reports that some of the most common complaints it receives deal with the difficulties of making payments on loan balances. Below are four smart strategies to help you get out from under the weight of your student loans.

Pay Off Variable-Rate Private Loans First

A private loan may have come with a low interest rate when it was first signed, but unlike federal loans, they can climb by several interest points over the years. Private loans also offer fewer payment options to borrowers. If you have a private variable-rate loan, pay it off first and as quickly as possible. As the economy shifts, the interest on these loans can spike suddenly, whereas the rates on fixed federal loans cannot. (more…)

Posted July 11, 2013 by

Landed an Entry Level Job, but Dealing with Federal Student Loan Debt? Tips to Handle the Burden

Are you stressing out about how to pay back all of those federal student loans?  If so, relax and look on the bright side, at least you have landed an entry level job to begin paying off this debt.  The following post has tips to help college graduates deal with their federal student loans.

Each year, millions of students walk out of the classroom, get a job and realize there’s no earthly way they can make their student loan payments and cover the rent. A quick call to the student loan servicer results in a forbearance. But forbearance means your balance will keep going up while you get a breather. Once that ends

Original post:

Tips for Minimizing the Pain of Federal Student Loans

Posted June 14, 2013 by

5 New Rules Concerning Federal Student Loans

Student loans on a sign with an arrow

Student loans on a sign with an arrow. Photo courtesy of Shutterstock.

Whether you’re taking out a federal student loan or entering repayment, get up to speed on the new changes to the federal loan program. Kiplinger’s outlines the five new rules you need to know about federal student loans.

The new rules include:

·         Loans get pricier—the rate on federally sponsored loans jumps from 3.4% to 6.8% on July 1, barring a last-minute (and unlikely) save from Congress. Despite the headlines, there’s no need to panic—the rate applies only to new loans, not those that are outstanding. (more…)

Posted December 20, 2012 by

Which Student Loan Repayment Plan Should You Choose?

CollegeRecruiter.comWhat is the best plan for you to pay back your student loans?  Check out the following post to learn more about various payment options.

Student loan repayment season is nearing, and recent college graduates may be trying to understand the different types of repayment plans, and which ones may be best for them.  Let’s explore what repayment plans exist for federal student loans, and how they differ.

This article is from:

Which Student Loan Repayment Plan Should You Choose?

Posted October 30, 2012 by

The Types of Financial Aid Available to College Students

Prospective and current college students should be aware of all financial aid options to further their educations.  The following infographic provides information about the types of assistance available to these students. (more…)

Posted September 05, 2012 by

Facing the Troubling Realities of Student Loans

Maura Kastberg

Maura Kastberg, Director of Student Services at RSC, Your College Prep Expert

Student loans are part of getting a college degree for most students. Just this year the student loan debt rate reached one trillion dollars. This astounding fact has led many to question whether or not a college education is still worth it. As long as students follow some rules as they take on college debt and again as they pay off that debt getting a college education is more important than ever. (more…)

Posted August 10, 2006 by

Focus on Financial Aid – Private Student Loans

There’s been a lot of controversy recently about private student loans and their role in the financial aid process. Charlie Miller’s Commission on the Future of HIgher Education recommende scrapping federal student loans like the Stafford Loan in favor of private student loans. The Project on Student Debt says he’s headed 180 degrees in the wrong direction. In today’s show, I talk about:
+ What a private student loan is
+ Where to get one
+ When to get one
+ When NOT to get one
The short version: private student loans are ideal for bridging the gap between what aid you’ve received and what’s left to pay for. They’re not a good first resort simply because their rates are higher than federal student loans at the moment, and certainly they’re much less appealing than scholarships and grants.
Private student loans come into play if you don’t qualify for federal financial aid, or the aid you get isn’t enough. Line up as many scholarships as you can, get as much grant aid as you can via the FAFSA, get your federal loans, and then get private loans.
Check it out at:
The Financial Aid Podcast Web Site
If you have iTunes, visit:
FinancialAidPodcast.com/itunes
As always, please contact me with any feedback, either here, on the show, or on the phone.