When you start hearing wedding bells, there’s a lot to think about. One thing that often gets overlooked is student debt. Many people don’t know all of the implications that go along with student loans and marriage. There are numerous details, and it can definitely get confusing. So, we’ve compiled some key considerations to discuss before tying the knot.
Know what you’re getting into
When dealing with student loans and marriage, it’s important to be honest. Lay it all out there. Make sure you and your spouse are communicating about how much student loan debt you have or will have.
If you both have a lot of student loan debt, it might be difficult to manage it all. Bigger student loan payments will affect the budget you make together. This can also affect future financial milestones like buying a house, getting a new car, or starting a family.
No matter the financial situation, you’ll need to tackle it together. Part of dealing with student loans and marriage the right way is working together. It’s important to come up with a plan to get ahead of your debt, it’ll make your lives easier in the future.
Deciding which standardized test to take can be a difficult decision for your high school student. All U.S. colleges and universities accept both ACT and SAT scores, so it’s a matter of which test will be better for your student to take. There are a lot similarities between the two, but there are also a lot of differences. We’ve compiled a list so you can compare to see which test is right for your child. We’ve also outlined the major differences and some tips to help you and your student decide.
Sections: English, Math, Reading, Science, optional Writing
Time: 2 hours 55 minutes without writing, 3 hours 35 minutes with writing
Accepted by all colleges and universities in the U.S.
Scoring: 1-36, average of 4 sections (essay does not count toward final score)
Not penalized for incorrect answers
Cost: $46 without writing, $62.50 with writing
Offered 7 times a year: February, April, June, July, September, October, December
Registration deadline: about 5-6 weeks before
Can take 12 times
Content covered: reading, grammar and usage, math, science reasoning, writing (optional)
Math content: arithmetic,
College can be described in many ways: exciting, challenging, busy and stressful. College students have a hectic schedule, so it’s hard to know what’s going on in your kid’s life. Check out our brief college calendar so you can get serious parent points by asking the right questions and sending the perfect care package (hint, hint).
We can all probably agree that a college education can be expensive. A freshly minted degree from Sarah Lawrence college costs more than $200,000, and that’s just for a Bachelor’s. With more than 43 million students now in debt, it’s important to have a lender you can count on.
First of all, what is a cosigner? They are a parent, grandparent, guardian, or other adult who is willing to cosign a loan. This means they are taking legal financial responsibility for the debt with you. Cosigners generally help a borrower meet the loan’s credit requirements and may help the borrower qualify for a lower interest rate.
If you’re looking for a cosigner, you’re not alone. Over 90% of private student loans include them. There is a lot to keep in mind when trying to find a good candidate. Here are some helpful tips to keep in mind as you move through the process.
It’s closer than you think: college move-in day!
If you haven’t experienced it before, plan for a long afternoon of organized chaos. Along with the usual stressors of moving, you’ll also be dealing with crowds, navigating campus and trying to make a tiny, white box of a room feel homey. Did we mention you’ll be doing all of this in just 1 day?
Here are some simple tips to help keep you calm in the storm of boxes, bags and new beginnings.
College starts next month, whether you’re ready for the big move or not. Getting all the stuff your student needs can be an expensive process, especially since you want them to feel comfortable in their new space. This means knowing where to splurge and where to save.
There’s no doubt a college education is pricey. Currently, the average cost for a private school is $34,740 per year (including room and board). Over the four years it takes to earn a degree, that adds up to $138,960 – nearly 3 times the average college graduate’s annual salary of $50,390!
So, you have to wonder, how is it mathematically possible for anyone to pay off such hefty loans on an entry-level salary?
Student loan repayment isn’t easy, but it’s definitely possible. With a little strategic planning and a lot of self-discipline, you can slowly but surely tackle your loans. Here are six tips to get you on the right track when it comes to dealing with student debt (and any debt).
If you’ve already applied for grants, scholarships and federal student loans, but you still have a college financing gap, your next logical step is to apply for a private student loan.
However, not all education loans are created equal. Some may appear to be affordable, publishing a low teaser rate that no one actually qualifies for. Other loans have hidden fees, or a prolonged, complex application process. By the end of it, you learn that you have qualified for a high rate – much worse than you expected – but you’re so exhausted with the process, you just go ahead and take out the loan.
To help you avoid falling into the trap, we’ve compiled a few tips to help you avoid the most common pitfalls when choosing a private student loan.
Independence Day is more than just gathering to blow things up and overeat. As you history buffs know, it commemorates controversy, self-sufficiency and true freedom – so what better time to talk life lessons? Here’s a few things every 20-something should learn.
As we approach the start of another academic year, more families are learning about student loans. Education finance can be confusing and, if you’re like most people, you’ve probably stumbled over the terminology. Before signing on the dotted line, here are 12 student loan terms you need to know.