Essential School Supplies for College in 2024
elfi.com | Education Loan Finance from SouthEast Bank
by Nathan Murray
4d ago
College is such an exciting experience, filled with new opportunities and challenges. Having the right tools to succeed can make all the difference as you prepare to make the most of the journey ahead.   Whether you’re a freshman embarking on your first year or a seasoned student gearing up for another semester, you should know that having the necessary school supplies at hand is crucial for staying organized, studying efficiently, and tackling new endeavors.   But hey, college is also expensive, so as fun as back-to-school shopping can be, let’s try to be economical. Here are our to ..read more
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The 8 Best Cities for Veterinary School Graduates
elfi.com | Education Loan Finance from SouthEast Bank
by Ashley Slimp
2w ago
According to the American Veterinary Medical Association (AVMA)’s 2023 Graduating Senior Survey, the mean debt for new veterinary school graduates was $154,451, with one-third of grads carrying over $200,000 in debt. The mean full-time starting salary was $124,295.   As you leave college to start your veterinary career, it’s important to consider where to take your skills and either join a practice or start your own. To help you decide, we looked at data compiled by the Bureau of Labor Statistics to help you find the eight best cities for veterinary jobs. Which city is best for veterinary ..read more
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Can You Refinance Student Loans Without a Degree?
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
1M ago
Earning a college degree can be challenging, and it can take longer than you may think. According to the National Center for Education Statistics (NCES), only 64% of students completed their degrees within six years of entering college.    If you’re still in school or left college before graduating and have student loan debt, you may wonder if it’s possible to refinance student loans without a degree. Although it can be done, waiting to refinance your debt or exploring other options may be a good idea. Refinancing Your Student Loans Without a Degree Student loan refinancing can be an ..read more
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How Is a Student Loan Different From a Scholarship?
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
1M ago
Having someone else foot the bill for college sounds amazing, right? And it’s not as outlandish as you may think. With scholarships, you get a lump sum to cover some or all of your education costs, and you don’t have to worry about repaying the award. They’re fairly common; the National Center for Education Statistics reported that the average amount of grant and scholarship aid for first-time, full-time students enrolled in four-year programs was $15,960 for the 2020-2021 academic year.    You can use a combination of scholarships and student loans to pay for college. So, how are st ..read more
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Rolling Student Loans Into A Mortgage
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
1M ago
Mortgages and student loans are among the two most common types of consumer debts in the U.S. Per the Federal Reserve, home loans total around $17.05 trillion, while total student loan debt sits around $1.60 trillion.    Since many borrowers have student loans from multiple loan servicers, rolling student loans into your mortgage could be tempting. Doing so will result in fewer monthly payments. But there are several factors to consider before moving forward with this strategy. Can You Roll Student Loans Into A Mortgage? You can roll your student loans into your mortgage if you’ve bu ..read more
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Do You Have to Pay Student Loans While in Grad School?
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
2M ago
More students are choosing to pursue postbaccalaureate education. The National Center for Education Statistics reported that the total postbaccalaureate enrollment increased by 9% between 2010 and 2021, the last available data.    But graduate school can be expensive; tuition and fees cost an average of $19,749 per year, which doesn’t include living costs. Most students will have to use student loans to cover some of the costs, and graduate school loans have different terms than undergraduate loans.    Do you have to pay student loans while in grad school? Whether payments ..read more
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Federal vs. Private Student Loans: Which Is Right for You?
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
2M ago
When it comes to student loans, you have two main options: federal or private. Federal student loans are by far the most common, making up approximately 92% of the student loan market.    However, private student loans can play an important role in completing your education. Depending on your education plans and credit, private loans could be more cost-effective than federal loans.    In this breakdown of federal vs. private student loans, learn about these different loan options and what factors differentiate them from one another.  What Are Federal Student Loans?&nbs ..read more
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Parent PLUS Loans vs Cosigning Private Student Loans
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
2M ago
It’s no secret that paying for college and graduate school can be expensive. Besides buying a home, earning a degree is one of the most costly (yet rewarding) steps in a person’s life.    Most students enter college when they are 18 or 19 years old. They likely have never worked full-time before, nor have they established their credit histories yet. Those issues, combined with the high cost of tuition — the national average for the 2023-2024 academic year being $28,961 for public universities and $42,162 for private schools — many need their parents’ help to take out loans and pay fo ..read more
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Is Your Minimum Student Loan Payment Enough?
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
2M ago
Federal student loan interest accrual and payments were paused due to the COVID-19 pandemic, but both resumed in fall 2023. As a result, millions of federal student loan borrowers are now managing an extra monthly payment. While budgeting for this extra payment can be challenging after a long pause, there are a few benefits of making more than the minimum payments on your student loans.    Here’s what to know about student loan minimum payments, different federal loan repayment plans and their requirements, and the advantages of making extra payments toward your student loans. Unders ..read more
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How to Avoid Common Student Loan Scams
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
3M ago
With so many changes to the student loan system, there’s plenty of opportunity for scammers to take advantage of the confusion. Student loan scams are increasingly common. In fact, the Federal Trade Commission (FTC) announced in March it was issuing more than $4.1 million in refunds to people who lost money in a student loan scam.    The problem won’t end anytime soon, but by being aware of common scams and red flags to watch out for, you can protect yourself. Top 4 Types of Student Loan Scams Student loan scams can come in many forms, but scammers usually use the following approache ..read more
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