Blog
Our blog is designed to provide information regarding some of the critical topics those with student loans must be aware of to be able to make educated decisions regarding their future.
6 Steps to Take Before Your Student Loan Grace Period Ends
A grace period is a time between when you leave school and when your first payment is due. During a grace period, some interest accrues, but you don’t yet owe payments. Federal student loans have a grace period of six months. With private loans, it varies. For example, Earnest gives borrowers a nine-month grace period. Regardless of how…
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Should I Refinance Student Loans During the Coronavirus Pandemic?
We’re living in uncertain times amidst the COVID-19 pandemic, so it’s good to be thorough as you evaluate what personal financial moves to make. If you’re a student loan borrower, you’ve probably wondered, should I refinance student loans during the coronavirus pandemic? The short answer is this: don’t refinance your federal student loans but try to refinance your…
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Will the Government Extend The Grace Period Because of Coronavirus?
If you have federal student loans, you’re probably wondering, will the government extend the grace period because of coronavirus? Although there isn’t an answer to that question yet, we’ll explore what we do know about extending coronavirus student loan relief measures below. And, at the end, we’ll walk you through some steps you can take if relief measures…
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How Coronavirus Impacts Parent Student Loans – What Borrowers Need to Know
If you borrowed money to pay for your child’s education, you’re probably wondering how coronavirus impacts parent student loans. I’m sure the question, Do the student loan relief measures in the CARES Act apply to parent loans? has crossed your mind. The answer all depends on what types of loans you’ve borrowed. Eligible Parent Loans: Parent PLUS loan,…
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Which Student Loans are Covered By the CARES Act?
The CARES Act brought relief to millions of federal student loan borrowers by suspending federal student loan payments, dropping interest rates to 0%, and stopping collections calls for defaulted loans. All federal student loans owned by the United States Department of Education (ED) are covered by the CARES Act, including: Direct Stafford Loans Direct Grad PLUS Loans Direct…
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Tips on Paying Student Loans During Coronavirus for All Borrowers
The different COVID-19 student loan relief measures paused federal student loan payments and dropped interest rates to zero percent through December 31, 2020. While some borrowers desperately need that relief during times of unemployment or unexpected economic hardship, others don’t. Whatever camp you fall into, don’t let the relief measures—or the coronavirus—get in the way of your plans…
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Should You Take a Gap Year Because of Coronavirus?
Gap years existed before COVID-19, but COVID-19 has made them more popular. In April 2020, a poll by the Baltimore-based Art & Science Group found that about one in six graduating high school seniors reported they would likely change their plans and take a gap year. Gap Year Association, a gap year accreditation organization, estimates that the number…
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Student Loan Grace and Forbearance Coronavirus Relief: What You Should Know
Thanks to coronavirus student loan relief measures, you’re done with required federal student loan payments until 2021. The interest-free pause on student loan payments was set to expire on September 30, but President Trump’s August 8 memorandum extended forbearance through December 31—check out our full coverage of the polices here. Of course, that doesn’t mean you should sit…
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Joe Biden on Student Loans
Joe Biden—former Vice President during the Obama Administration and current Democratic nominee for the 2020 presidential election—has made student loan reform a major component of his campaign platform. Along with Senator and Democratic Vice Presidential candidate Kamala Harris, Biden plans to enact a comprehensive $750 billion student loan plan. His goal is to address the current student loan…
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How to Stay Safe in College During Coronavirus Pandemic
The coronavirus has changed how colleges operate across the United States. It has also changed what safety measures college students need to take while living or studying on campus. Whether you’re attending in-person now or thinking about returning in-person for the spring semester, there are steps you can take to keep yourself safe and healthy during your time…
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