How To Find a Cosigner If Your Parents Won’t Cosign
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
1w ago
When applying for private student loans, many borrowers have the luxury of asking their parents to cosign. Using a cosigner could mean the difference between qualifying and not qualifying for a loan and, at the very least, help you secure a better interest rate.   But how can you find a cosigner for student loans when your parents aren’t an option? That’s a complicated question requiring a nuanced answer, so let’s look at this problem from a few different angles to get a clearer picture. What Is A Cosigner? A cosigner is a trusted, creditworthy partner that serves as support on your priva ..read more
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9 Ways To Help Pay For Law School
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
2w ago
There’s no getting around it: law school is expensive. With programs averaging $53,920 per year, it’s no wonder that 90% of law school students use student loans to pay for their education. Worse, the average student loan debt for lawyers was $130,000 as of 2021.    The cost of pursuing a law degree can be intimidating. However, there are a variety of financial aid opportunities available that can help you pay for your education. By learning how to pay for law school, you can take advantage of those opportunities and reduce the need for student loans.  1. Maximize Your FAFSA Awa ..read more
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Filing Taxes From Your Side Hustle
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
3w ago
Side hustles are a popular way to make extra money, pay down debt, and boost savings. According to a 2023 Bankrate survey, 39% of Americans have a side hustle, earning around $810 a month on average from their gigs.   But many people don’t report their side gig income on their taxes. They often believe that extra income isn’t taxable, but that’s a costly mistake. The Internal Revenue Service is very clear: you must file a tax return and report earnings from self-employment of $400 or more, even if it’s from gig work, a side hustle app, or a temporary job.    If you don’t report ..read more
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What the FAFSA Delays Mean for You
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
1M ago
Typically, the FAFSA for the upcoming academic year opens on October 1. However, due to changes to the 2024-2025 FAFSA, there were significant delays in the process. Instead of being available in the fall, this year’s FAFSA wasn’t available until January, and further glitches made it difficult for students and families to submit their FAFSA.    Worse, the U.S. Department of Education (ED) announced that schools wouldn’t receive the submitted FAFSA information until March. As a result, many colleges were unable to give students financial aid details at the time of admissions notificat ..read more
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10 Scholarships for Black and African American Students
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
1M ago
The average cost of college, including tuition and room and board, is $36,436 per year. Given this, many students turn to student loans and other sources of financial assistance to pay for school.    However, data shows that African American students are disproportionately affected by student loan debt. According to a recent report from the Education Data Initiative, African American students carry 188% more student loan debt on average than white students four years after graduating.   Fortunately, many scholarships for African American students can lessen these disparities and ..read more
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What’s New for Employer Matching Contributions and Student Loans in 2024
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
1M ago
When it comes to financing a college degree, student loans have become the norm. According to the Congressional Research Service, nearly 43 million individuals — about one in six Americans — have federal student loan debt. The burden of keeping up with your payments can make it difficult to save for other goals, such as building an emergency fund or saving for retirement.    Thanks to new legislation, student loan borrowers can now get some relief. The Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0 classifies student loan payments as elective deferrals for the ..read more
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8 Ways For College Students To Build Credit
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
2M ago
Graduation may seem like a distant event, but it will be here before you know it. Having good credit will help you after school when you’re working and living on your own, but building a solid credit history can be difficult as a student.    According to Experian, the average credit score of those 18 to 25 was 679, the low end of the “good” range. But 26 million Americans — approximately one in 10 — are credit invisible, meaning they don’t have enough of a credit record to generate a credit score. With poor credit or no credit history at all, it can be difficult to qualify for an apa ..read more
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The 10 Best Jobs for Nursing Students
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
2M ago
Nursing school can be a challenging choice, particularly as employers are increasingly looking for nurses who complete bachelor’s degree programs rather than associate degree programs. To cover the cost, many students turn to student loans; in fact, the American Association of Colleges of Nursing reported that 69% of students took out student loans to pay for nursing school.    Working while in nursing school can help offset the cost of your education so you can graduate with less debt. Although juggling work and school can be challenging, several jobs can match a nursing student’s b ..read more
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How To Read Your Financial Aid Award Letter
elfi.com | Education Loan Finance from SouthEast Bank
by Sarah Holder
2M ago
If you have a child getting ready for college, you may be anxiously awaiting acceptance letters from their selected schools. But when those letters come, they’ll also include financial aid award letters that detail what kinds of assistance your child is eligible for from the school.    Most students get some help with their education costs. In fact, the National Center for Education Statistics reported that 72% of undergraduate students receive financial aid. However, those award letters can be confusing, so learning how to reach a financial aid award letter will help you understand ..read more
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Scholarships for Orthodontist
elfi.com | Education Loan Finance from SouthEast Bank
by Olivia Johnson
3M ago
Attending school to become an orthodontist can be very expensive. You’ll first need to obtain a dental school doctorate in dentistry, then complete an orthodontic residency. After first getting your undergraduate degree, obtaining this education can cost hundreds of thousands of dollars.   The good news is there are scholarships for orthodontists that may be able to help you cover some of these expenses.  Read on to learn about dental school scholarships and how to find financial assistance that can make paying for your degree easier. Examples of Scholarships for Orthodontists  ..read more
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