Student Loan Debt Relief

The increasing cost of college tuition combined with the rising cost of living and the turbulent economy has made it hard for many students and parents to afford an education. Today, a number of financing options such as student loans are available to ensure that every student can fulfill their dreams of a higher education. Student loans are available through a number of sources and can help pay for college tuition, books and living expenses. Student loans are offered by the federal government and a number of other sources. In order to apply for student loans, students are required to fill out the Free Application for Federal Student Aid the FAFSA which can be submitted online at fafsa.ed.gov.

Student Loan Debt

Without a doubt, student loans are an excellent way to pay for college, as they allow students to focus on their studies without constantly having to worry about their finances. Unfortunately, these loans also leave many students with a disproportionately large amount of debt by the time their graduate. With student debt at $1 trillion and rising, the government has decided to step in in order to provide some sort of relief. Thanks to a recently passed act, student loan debt relief is now a reality. Indeed, the Student Loan Forgiveness Act has paved the way for easily repaying student loans through consolidation at reduced rates, loan forgiveness, deferment and a number of other options. Students can now cap loan payments at 10% and can balance their loans. They can also consolidate federal and private student loans at lower rates of interest.

Private Student Loans

In many cases, federal student loans or institutional awards may not sufficiently cover all of your educational expenses. If you need more funding, you can always apply for a private loan. Private loans come with flexible borrowing limits and are processed almost instantly. However, before selecting a private student loan, it is important to do your research. The student loan comparison tool on our website allows you to view key information such as interest rates and repayment terms about different student loans. This tool can help you make an informed decision so that you can select the private student loan that best suits your needs.

 

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