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And some of the companies that promise student loan debt relief are scams.It’s illegal for companies to charge you before they help you.
Student loans are debt you have to pay back, even if you don’t finish your degree.
Moreover, parents who qualify for a lower interest rate on a private consolidation loan will generally have very high credit scores, demonstrating that they are good at managing their money and capable of making smart borrowing decisions.
Refinancing Parent PLUS Loans into a private consolidation loan is appropriate only if the borrower will obtain significant savings and only if the borrower is able to make an informed decision about the loss of repayment benefits on the Parent PLUS Loans.
Work-study is a need-based grant that requires you to work part-time while you’re in school.
To qualify for work-study, you’ll need to fill out the FASFA form and meet the needs-based criteria of the program. Student loans fall into two categories: federal loans and private loans. It is the only way to apply for federal student aid. You must fill out your FAFSA form at every year that you are in college, university or career school.
If some or all of your loans have variable interest rates, when you consolidate into a fixed loan may affect the interest rate of your loan.