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Academic Search Engine Knobull Helps Students Learn More In Less Time And Lower Cost
College tuition and fees can be a big expense. When you add in other expenses like room and board, meal plans and textbooks, it can seem overwhelming. Thankfully, there are plenty of options for rising college students who are seeking loans to cover expenses.
Private student loans can be a good way to bridge the financing gap when federal loans aren't enough to cover college costs. In this case, it's critical that borrowers shop to ensure they are getting the best possible deal for their situation.
With the average cost of college outpacing inflation, it makes sense that student loan debt is also increasing at a high rate. The outstanding student loan debt in America is more than $1.75 trillion.
Those trying to decide what to do with your student debt, could consider refinancing to a private student loan at a lower interest rate. Refinancing to a lower rate can help reduce the monthly payments.
Switching to a private loan would make you ineligible for certain federal benefits, like income-driven repayment plans, COVID-19 administrative forbearance and student loan forgiveness programs.
Bentley concluded, "As an emerging student-first connected learning and career development platform, our mission is to help every student and rising professional achieve their best, in school and beyond. We strive to improve the overall return on investment in education by helping students learn more in less time and lower cost."