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One From Column A, One From Column B
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| If only the Student Loan process would be as simple as choosing one from Column A and one from Column B…
It’s not, but, once you have all the options laid out before you and an expert is standing by to answer all your questions about them, the process doesn’t seem nearly as complicated as some people assume it is.
Last week’s “5-Days of Understanding Borrowing & Lending Series” was a big hit!
The many people who watched in real time and the many who tuned in to watch the recordings later came away with a warehouse of information about Budgeting, Types of Student Loans, Student Loan Features, Loans Without Cosigners, and How to Make Financially Smart Decisions supplied by our experts from HerMoney, LendKey, College Ave, CommonBond, and Funding U. |
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Questions, We Had Questions…
Those who watched in real time were able to ask our experts questions like these:
“Can I take out more than one loan during my son’s four years of school?”
“If we reapply does that mean a new credit check every year before tuition is due?
“How long does it take before the student is able to get the loan or is the deposit made into the parent’s account?”
“Can I choose a different type of loan year to year—such as immediate for the first two years, and deferred for the last two years?”
“Can a student complete a FAFSA on their own and obtain a loan without their parents?”
“What are the most typical interest rates if you have a good credit score and do they compete with the Parent PLUS loans?”
You can watch some or all of the videos here.
And, for your reading pleasure… we highly recommend these articles that will also provide you with a wealth of knowledge. (Because, “Knowledge is Power!”)
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What’s up ahead on The Road…
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| I put together a survey to get a better feel for what members who went through the college admissions process feel about the results (i.e. where their student is or will be attending college and how they are paying for it).
Gathering this information will also help future parents to better navigate the process. So PLEASE pay it forward and share your thoughts - the survey is anonymous.
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Compare Rates Among Lenders
If you need to borrow money to pay for college, now is the time to gather as much information as you can before you're pressed to make a decision of where to borrow.
Use the links below to get prequalified and/or submit an application to find out the interest rate you'll receive. If you do all your loan shopping (including submitting applications), within a 30 day window, the credit bureaus do not penalize your credit score for submitting applications to multiple lenders.
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LENDER I RATES
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CommonBond I 3.74% - 9.72% *
LendKey I 4.46% - 9.43%*
College Ave I 3.99% - 11.98%*
Citizens Bank I 3.99% - 11.64%*
Sallie Mae I 4.25% - 11.35%*
Funding U I 7.99% - 13.99%**
*Variable rates as of 6/12/19, fixed rates may vary.
** Funding U only offers fixed rates. |
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| Debbie Schwartz Founder, Road2College I'm a parent, like many of you, navigating college admissions and paying for college. With an expertise in personal finance, analysis, and marketing, I'm working to give families the information and tools to make smarter financial college decisions. |
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If this newsletter no longer fits your needs, consider receiving our new newsletter, focusing on financial issues related to students currently in college or recently graduated.
Road2College may receive affiliate compensation on items purchased through our links. |
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