How to Make the Most Out of Your College Visits  Introduction  Embarking on college visits is an exciting milestone in the journey toward higher education. These visits offer invaluable opportunities to explore campuses, connect with faculty and students, and envision yourself as part of the college community. To ensure you make the most out of your college visit, we’ve compiled a comprehensive guide packed with tips and strategies to optimize your experience.  1. Plan and Schedule Your Visit  Before setting foot on campus: Take the time to plan your visit. Research the col ..read more

LendKey partners with Payitoff to help borrowers better manage their federal student loan debt The average federal student loan borrower can save up to $240 per month   Managing federal student loan debt can feel overwhelming. Payments have resumed after three years of being paused due to the CARES Act. For some, just remembering who to pay can be confusing. LendKey is here to help and has partnered with Payitoff, a leader in consumer debt guidance tools, to help navigate federal student loan payments.  When federal student loan payments resumed, the government introduced new income ..read more

Crisp, cool air, the changing of the leaves, and federal student loan payments?! That’s right; this September ushers in more than just the changing of the seasons. For the first time in over three years, federal student loan payments are resuming, and interest will start to accrue, as the U.S. Department of Education is ending its COVID-19 relief for student loans. So, what does that mean for the millions of affected borrowers, some of whom have never made a student loan payment before? The Coronavirus Aid, Relief, and Economic Security (CARES) Act (2020) provided economic assistance to Americ ..read more

When it comes to pursuing higher education, the cost can often be a significant barrier for many students. While federal student loans can provide a lifeline, they might not cover all the expenses. This is where private student loans come into play. However, one common requirement that frequently arises with private student loans is the need for a cosigner. In this blog, we’ll delve into why a cosigner is often needed when applying for a private student loan and what this means for both borrowers and cosigners. One of the primary reasons lenders require a cosigner is the limited credit ... The ..read more

Refinancing student loans may feel like a complex and overwhelming process. To help you navigate through this journey, we’ve compiled a list of five essential questions you should ask before refinancing your student loans. 1) Are you planning on refinancing federal loans, private loans, or both? Federal loans are offered by the federal government. While private loans are offered by banks, credit unions and online lenders. Federal loans come with a variety of benefits. Including, but not limited to public service loan forgiveness and income-based repayment options.  Forgiveness of your loa ..read more

  When student loan borrowers are looking to refinance student loans, they typically come across two options: a fixed-rate student loan and a variable-rate student loan. Let’s break down what the differences are between variable-rate student loans and fixed-rate student loans, and when each might make sense for a borrower. What is Fixed-Rate Student Loan Refinancing? A fixed-rate student loan is one that maintains the same interest rate on the loan for the entire life of the loan. For example, we are going to assume a 10-year repayment plan at 7% interest on a $40,000 student loan. W ..read more

  When student loan borrowers are looking to refinance student loans, they typically come across two options: a fixed-rate student loan and a variable-rate student loan. Let’s break down what the differences are between variable-rate student loans and fixed-rate student loans, and when each might make sense for a borrower.   What is Fixed-Rate Student Loan Refinancing? A fixed-rate student loan is one that maintains the same interest rate on the loan for the entire life of the loan.   For example, we are going to assume a 10-year repayment plan at 7% interest on a $40,000 s ..read more

Biden Announces Student Loan Forgiveness  On August 24th, 2022, President Joe Biden announced his three-part student loan forgiveness plan, which included an extended payment pause on federal student loans through December 31, 2022. With 1 in 7 Americans having student loan debt, a student debt forgiveness program could aid a large demographic of individuals.  Through Biden’s forgiveness plan, borrowers could expect $10,000 to $20,000 of their student loans to be forgiven, depending on annual income and if the borrower had received a Pell Grant. To be eligible, borrowers would have t ..read more

Biden Announces Student Loan Forgiveness  On August 24th, 2022, President Joe Biden announced his three-part student loan forgiveness plan, which included an extended payment pause on federal student loans through December 31, 2022. With 1 in 7 Americans having student loan debt, a student debt forgiveness program could aid a large demographic of individuals.  Through Biden’s forgiveness plan, borrowers could expect $10,000 to $20,000 of their student loans to be forgiven, depending on annual income and if the borrower had received a Pell Grant. To be eligible, borrowers would have t ..read more

The cost of college is often more than just the tuition paid at the start of the semester. Funding college also means covering meals, books, supplies, and other activities. It’s expensive and often stressful. There are some ways to reduce the amount of money paid upfront, such as the use of scholarships, grants, federal loans, and in some cases, private loans. Many students need to use these as a way to minimize out-of-pocket expenses. However, another option to help pay for these college expenses prior to taking out a private student loan is to participate in the federal work-study progr ..read more