How Families Navigate the Student Loan Process

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Subject: How Families Navigate the Student Loan Process

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Lending an Ear

A weekly guide to financing college.

July 21, 2024

How Families Navigate the Student Loan Process

In an attempt to find out what really happens when parents go through the student loan process, we asked members of our Paying for College 101 Facebook group to share their experiences. Read what they revealed HERE.

Supporting Your College Student's Mental Health

Taking care of your mental health is always important, especially in college. Share these top 10 tips with your student to help support their mental health.

This article was sponsored by GradGuard. Check with your college to make sure they offer GradGuard tuition insurance. If so, it's often an option as you pay your tuition bill. If your school doesn't offer it, no worries, you can get it directly from GradGuard as long as it’s purchased before classes begin. Learn more HERE.

Follow These Steps to Find the Best Student Loan Rate

Always make sure your student is maxing out Federal Direct Student Loans before borrowing private loans.
Apply to at least 3 lenders to compare rates. Choose from our recommended lenders below.
Create a free account with Juno, a partner who negotiates interest rates with lenders.
Use Juno to see if they can offer a loan, from their lender, with a better rate than your best private loan offer from step 3.
Compare your best rate with the Parent Plus Loan (PPL) interest rate. The adjusted PPL interest rate to compare against is 10%. This includes the origination fee.

Our Private Lenders Suggestions

(Variable APRs as of 7/17/2024)

➡️ College Ave 5.59% - 17.99%*

➡️ Sallie Mae 5.37% - 15.70%*

➡️ SoFi 5.74% - 15.86%*

➡️ Ascent (Cosigned) 5.99% - 15.85%*

➡️ Citizens (through Credible) 5.99% - 16.60%*

*Rates are based on automatic payment discounts of 0.25 percentage points.

We're Here to Help You!

📊 Download our FREE Student Loan Comparison Spreadsheet.

🐻 Use Mama Bear Legal Forms to make sure you can help your student in an emergency. Enter promo code Road2College & save 20%.

💰 Compare your student's college offers to what other student's have received with our FREE Compare College Offers tool.

🎓 Protect your college investment with GradGuard tuition and renters insurance.

💻 Join our free PFC101 Facebook group and connect with other parents on the paying for college journey.

✅ Check out Harlan Cohen's BEST FIRST YEAR College Coaching Program for Students and Parents. Be prepared for ALL the changes ahead! Get $30 off with code R2C30off.

🎁 Save 10% off diploma frames and treat your student to a graduation gift with DiplomaFrame. Use coupon code ROAD2COLLEGE for your discount.

Got Questions About Paying for College?

We're Lending an Ear and Answering!

Question: We're applying for a private loan and were given the option to start repaying while our child is in school but can't afford to make those payments right now. What should we do?

Answer: Lenders do offer loan options that can include immediate repayment or deferred repayment (where you are not required to repay until after they leave school). You can select deferred repayment, but be aware that this can impact the interest rate you are offered. Lenders typically offer lower interest rates to borrowers who will begin repaying the loan immediately.

Submit your questions here, then check back each week as we highlight the most pressing questions and share our advice.

Our R2C Content Team is dedicated to helping families navigate the

ever-changing world of college admissions and financing.

Lending an Ear is written & edited by Becca Blauch.

Disclaimer: The information provided in this email is for general informational purposes only. Road2College is not a financial advisor or planning service, and as such, cannot be held responsible for any direct or indirect circumstances. Please consult a licensed financial professional before making any financial decisions. Road2College may receive compensation from products and links featured in this email. When evaluating offers, please review the financial institution’s Terms and Conditions. Pre-qualified offers are not binding.

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Subject: How Families Navigate the Student Loan Process