Topic: Credit Score
Should a college student have a credit card?
Giving a college student a credit card is a decision that must be made on an individual-family basis. Instead of giving a yes or no answer, here are the pros and cons of both options.
If you DO choose to… More »
Practical tips for building good credit
In today's world, having an excellent credit history is more important than ever before. Having good credit means that you could qualify for loans, such as mortgages, car loans, student loans, and more. In addition, having good credit means that… More »
Is there a credit check for private student loans?
Yes. Private loans are personal loans issued to individual borrowers by lending institutions. Much like a mortgage or an auto loan, your credit will determine if you are approved and also what rate (and possibly fees) you may receive. These… More »
Why should I use a co-signer for a private student loan?
To increase your chances of approval and possibly improve the rate you receive, you are strongly recommended to apply with a credit-worthy co-signer. Some lenders require you to apply with a co-signer regardless of your income or credit rating; you’ll… More »
Tips on selecting a co-signer
"Co-signer" defined
A co-signer of a private student loan is someone who jointly signs the promissory note (or the contract between lender and borrower) for the loan. Even though the student is the primary borrower, and will receive monthly bills… More »
PLUS loans
For parents with acceptable credit who need help paying for their child’s college, parent PLUS Loans can be a very good option. PLUS Loans are federal loans and currently have a fixed interest rate of 7.9%. These loans can help… More »
