States Where Public Colleges Are Underfunded (And Where They’re Not)
Student Loan Hero
by Jacqueline DeMarco
1y ago
Colleges receive a mix of federal and state funding, but the beneficiaries typically differ. The federal government tends to provide assistance to students and research projects, according to a data analysis from Pew, while state funding often supports operating expenses. Funding can also come from private sources, as well as the tuition and fees that students pay. When a school is underfunded, students often pay the price. The latest Student Loan Hero study looks at the states where public colleges are underfunded (and where they’re not). We’ll mainly highlight 2019-2020 data (the latest avai ..read more
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46% of College Students Are Worried About Graduating During a Recession, but 59% Think College Has Prepared Them for a Career
Student Loan Hero
by Maggie Davis
1y ago
Imagining life after graduation is understandably stressful for many college students — particularly for the 55% of undergraduates who’ll be leaving with student loan debt. Yet, amid today’s struggling economy, it’s not just student borrowers who have some apprehension about what comes next. The latest Student Loan Hero survey of more than 1,000 U.S. undergraduate students reveals that 46% of college students are worried they’ll graduate during a recession. But despite this real worry, their optimism appears to win out: 59% think college has prepared them for a career and 74% are confident the ..read more
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73% of Undergrads With Student Loans Are Worried About Repaying Their Debt, and 82% Don’t Know How Much They’ll Owe Monthly
Student Loan Hero
by Amanda Push
1y ago
Between the uncertainty of the federal student loan payment pause, student loan forgiveness and a struggling economy, many college students with debt are worried about what life will look like after graduation. With undergraduates leaving college with an average of $28,400 in student loan debt, it’s understandable that there’s a lot of fear around the future. The latest Student Loan Hero survey of more than 1,000 undergraduates finds that 73% of those with student loans are stressed about repaying them — and an even higher percentage of these undergraduates (82%) don’t know what their monthly ..read more
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How To Apply for Student Loans
Student Loan Hero
by Jill A. Chafin
2y ago
You may find you need to apply for student loans to help cover the rising cost of college tuition. After all, about 55% of bachelor’s degree recipients in 2020 graduated with at least some student loan debt. This step-by-step guide breaks down how to apply for federal and private student loans, as well as additional funding sources to consider. Before you begin: Gather the paperwork Federal student loans: How to apply Private student loans: How to apply Alternatives to college loans Note that federal student loans are generally better than private ones since they offer lower rates and flexible ..read more
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Satisfactory Academic Progress: What You Need to Know About SAP
Student Loan Hero
by Jill A. Chafin
2y ago
Around 84% of U.S. college students receive some form of federal financial aid. However, it’s important to make satisfactory academic progress (SAP), otherwise you risk losing this benefit. Every school has a different set of SAP standards. In general, you’re expected to maintain a certain GPA while making steady progress toward obtaining your degree. Let’s take a closer look at SAP and what to do if you find yourself falling behind. Why satisfactory academic progress is important How to maintain satisfactory academic progress What happens if you don’t meet your college’s SAP standards How to ..read more
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25 Best Trade Schools
Student Loan Hero
by Amanda Push
2y ago
Trade school can be a much more affordable option for students looking to kick-start their careers and don’t want to spend the typical four years at a traditional college or university. But finding the right trade school that fits your career and financial goals can be a challenge. To help you make a decision, we compiled a list of the best trade schools with a good return on investment (ROI). Keep reading to learn why you should consider trade school and steps to take before making any decisions about your education. 25 trade schools with excellent ROI Trade school vs. college 3 steps to take ..read more
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Who Defaulted on Student Loans Before the Moratorium — And Who Is Most Likely to After Payments Resume
Student Loan Hero
by Amanda Push
2y ago
With the end of the federal student loan moratorium on the horizon, many Americans are worried about resuming payments after Aug. 31, 2022. A recent Student Loan Hero survey showed that 72% of federal loan borrowers say they don’t feel ready to resume payments. With rising inflation rates and financial struggles, some U.S. borrowers could start to feel student loan default pressure once the payment pause is over. While borrowers with paused federal loans will receive a “fresh start” and reenter payment in good standing, the threat of default in the future could linger. To learn more, SLH resea ..read more
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10 Alternatives to a Traditional Four-Year College
Student Loan Hero
by Jill A. Chafin
2y ago
Earning a college degree is a popular path for high school graduates to take, but it’s not the only choice. Many alternatives to college are available, and these can also lead to well-paying occupations. Here are 10 college alternatives to explore — practical options that could offer a shorter and cheaper way to launch a successful career, as well as factors to think about as you decide whether college is right for you. 1. Attend community college 2. Go to trade school 3. Do an apprenticeship 4. Sign up for online college 5. Enroll in a coding bootcamp 6. Start a business 7. Get a realtor lice ..read more
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A Demographic Look at Who Has Student Loan Debt
Student Loan Hero
by Jacqueline DeMarco
2y ago
Student loan debt forgiveness is a hotly debated topic, and it’s easy to see why. More than 1 in 5 owing student loan debt, and these burdens are quite large for some families. With forgiveness on many minds, Student Loan Hero researchers looked at who has student debt and which demographics are most impacted. The analysis — based on data from the latest Federal Reserve Survey on Consumer Finances — also examines how likely different demographics are to hold student loan debt. Keep reading for more insight into U.S. student loan debt and how it’s affecting Americans. Key findings Fewer famil ..read more
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Nelnet Bank/U-Fi Student Loan Review
Student Loan Hero
by Kat Tretina
2y ago
Private student loanStudent Loan Refinancing 4.1/5 FIXED APR 3.34% – 11.68% VARIABLE APR 1.26% – 10.40% THIS REVIEW INCLUDES The basics What to like What to keep in mind How Nelnet Bank student loans compare Are Nelnet Bank student loans right for you? How to apply with Nelnet Bank How to contact Nelnet Bank Frequently asked questions Pros Cosigner releases available after 24 months Quick loan processing Multiple repayment options Cons Low loan maximums High number of customer complaints No parent loan options Private student loan rating 4.1 Accessibility 4.2 out of 5 Rates & Terms 4.2 out ..read more
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