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Student Loan Management

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Can Student Loans be Used to Pay Rent?

Student loans can be used to pay for rent. Additionally, you can use funds from student loans to pay for other living expenses, like food and transportation.  However, there are some limitations you should know. So in this article, we’ll take a deep dive into what you can do with your student loan and how...

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What Is Navient?

Navient – which was a spinoff from Sallie Mae – is a student loan service provider for private and Federal Family Education Loan Program (FFELP) student loan borrowers. The company was recently involved in several lawsuits, including a multistate lawsuit with 39 attorneys general. As a result of the settlement they reached, several changes have...

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Employer Student Loan Repayment Program: Common FAQs

Student loan debt impacts over 43 million Americans, costing over $1.7 trillion. The debt has also cost borrowers many milestones; 53% of millennials haven’t bought a home yet because their debt is either hurting their ability to qualify for a mortgage or they can’t find one they can afford. If these stats blew your mind,...

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How Does Student Loan Forgiveness Work?

The U.S. Department of Education (DOE) announced a final extension of the pause on federal student loan payments until December 31, 2022. Right now, student loan payments are expected to jump-start on January 1, 2023.  Many borrowers were hoping that by the time payments restarted, their debts might be up to $20,000 lighter (if not...

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Does Paying Off Student Loans Build Credit?

Things change when you leave school. Suddenly there are more bills to pay, including your monthly student loan payment. Meanwhile, if you want to take out a loan to buy a car, rent an apartment or get a mortgage to buy a home, you’ll need to know what your credit score is and how to...

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Do Student Loans Affect Buying a House?

Going to college and buying a home are both important milestones, but student loan debt might make them feel like conflicting goals. Luckily, you can pursue both higher education and homeownership by understanding how loan debt might affect your mortgage. Read on to learn how student loans factor into getting a mortgage and get some...

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What Is a FAFSA® Form? – Do You Qualify?

If you are a current college or university student, or someone striving to be one, you know that one of the greatest barriers to getting a higher education is money. That’s where financial aid comes in. Financial aid helps students pay for college, so they can stress less about how they’ll pay the next bill...

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What is a Student Loan Default: What Will Happen?

Facing a student loan default can be intimidating. Especially when terms like collections agencies, lawsuits and wage garnishment are thrown around in the same sentence (like this one). And while it is serious, it’s not the end of the world.  If your student loans are in default, you’re not alone. Education Data Initiative reports that...

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How To Calculate Your Student Loan Interest: Step-by-Step

An estimated 30% of American adults have incurred some kind of student loan debt, but many of them may not realize what makes up their monthly student loan bill. Student loan payments include both principal and interest. But a good chunk of your payment might be going toward interest, not the loan’s principal. Calculating your...

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Financial Aid vs. Student Loans

If you’re wondering how to pay the ever-increasing cost of college or professional programs, financial assistance may be the answer. You can get financial aid and student loans to help pay for your education – but they aren’t the same thing. We’ll cover the difference between financial aid and student loans, how to apply for...

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How to Stop Student Loan Garnishment

Paying for higher education tends to be expensive. And student loans are a popular way to pay for college, graduate school and other types of education. Over 40 million people get help paying for higher education with federal student loans. Sometimes, life gets in the way of people paying back their student loans. You may...

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Do Student Loans Affect My Credit Score?

If you have a student loan, you’re a member of a really, really big club. Over 40 million people have student loans to help with the expenses of higher education. But what does having student loan debt do to your credit score?  Student loans can make your credit score go down, but they can also...

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