How to Write a College Essay That Gets You Accepted

Learning how to write a college essay is a crucial step along the path to college. Admissions officers take the college essay seriously, and this little piece of writing could make or break your application. With the stakes this high, it can be extremely daunting to get started. Fortunately, there are strategies that will help […]

Subsidized vs. Unsubsidized Student Loans: Key Differences

What’s the difference between unsubsidized and subsidized student loans? Well, the government covers the interest that accrues on subsidized student loans during periods of deferment. But it doesn’t typically help with interest charges on unsubsidized loans. Read on for a comparison of subsidized vs. unsubsidized loans so you understand how they’re different (and how they’re […]

Delinquency vs. Default: Is There a Difference? 

What’s the difference between delinquency and default? Well, both refer to falling behind on your student loan payments. But default is more severe than delinquency, since it means you’ve missed payments for 270 days on your federal loans and could face wage garnishment. In this guide, we’re going to take a closer look at delinquency […]

Deferment vs. Forbearance: Which Is Better? 

If you’re feeling crushed by the weight of your student debt, it can feel impossible to see a way out. Fortunately, you might have the option to pause payments temporarily on your federal student loans through deferment or forbearance. Generally speaking, deferment should be your first choice if you have subsidized loans, but forbearance works […]

How Income-Contingent Repayment Works 

As one of the four income-driven repayment plans, Income Contingent Repayment (ICR) adjusts your student loan payments to 20% of your discretionary income. But it probably shouldn’t be your first choice of income-driven plans, unless you have parent loans. Read on to find out why. How Income-Contingent Repayment works What loans are eligible for ICR? […]

Income-Based Repayment: Ultimate Guide

Introduced in 2009, the Income-Based Repayment (IBR) plan adjusts your student loan payments to 10% or 15% of your discretionary income, depending on when you borrowed. If you’re not bringing in any income, your payment could be as low as $0 per month on IBR (score!). Read on to learn exactly how the IBR plan […]

Revised Pay As You Earn: Easy Guide

Introduced in 2015, the Revised Pay As You Earn plan was designed to make its predecessor, the Pay As You Earn plan, accessible to more borrowers. Anyone can apply for the Revised Pay As You Earn repayment plan (except for parent borrowers). It usually doesn’t matter when you borrowed or what your income is — […]

Pay As You Earn: What You Need to Know

Introduced in 2012, Pay As You Earn is one of four income-driven repayment plans for student loans that can lower your monthly payments. In fact, it caps payments at 10% of your discretionary income while extending your terms to 20 years. If you still have a balance after this time, it will be forgiven. But […]

Revised Pay As You Earn vs. Pay As You Earn: Which Is Better?

Pay As You Earn, along with its newer cousin Revised Pay As You Earn, is an income-driven repayment plan for student loans that adjusts your payment to 10% of your discretionary income. While both PAYE and REPAYE can help you get relief on your student loans, each works a little differently. Read on for a […]

5 Signs You’re Ready to Refinance Student Loans (and 4 Signs You’re Not)

Are you interested in refinancing student loans for better rates, but not sure if now is the right time? Before making a move, it’s important to know if you’re ready to take on a refinanced student loan. Here are five signs you’re ready to restructure your debt through refinancing — and four signs you’re not. […]