questions & answers

How Does Divorce Affect Financial Aid Applications?

By Hilary CairnsLast updated on December 22, 2022

Filing out financial aid applications, more specifically the FASFA (Free Application for Student Financial Aid), can be daunting already for many students. However, with those who have divorced parents, it’s important to understand how that may affect your application and awarded financial aid. Who is Your Custodial Parent? The parent who completes the financial aid …

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Should You Lower Your Student Loan Payments Or Not?

By College Raptor StaffLast updated on December 22, 2022

For many college students, student loans are inevitable. That also means someday repaying those loans, budgeting for repayment, and dealing with interest rates. When it comes to whether or not you should lower your student loan payments, there is no one answer that is right for everyone. In general, lowering loan payments is not recommended …

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Is There Any Way To Minimize Student Loan Debt While In School?

By College Raptor StaffLast updated on December 22, 2022

Even after all the scholarships, grants, and federal aid, your college costs still may not be fully covered. Many students have to take out student loans to afford their college education. That also means having to spend years after graduation paying off that loan with interest. But with some thought and planning, you can minimize …

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What is the Difference Between Refinancing and Consolidating Student Loans?

By Allison WignallLast updated on December 22, 2022

You’ll see these two words a lot when researching student loan options. After exhausting scholarship, grant, and work study opportunities, many students and families turn to student loans in order to pay for a higher education. (And a quick reminder, you should always check out federal loan options before even considering looking at private loans). …

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What is the Student Aid Report (SAR)?

By Allison WignallLast updated on December 22, 2022

When you complete the Free Application for Federal Student Aid (FAFSA), you’ll receive your SAR sometime afterwards. The FAFSA is used to calculate what kind of financial need you personally have, which can make you eligible to several federal scholarships, grants, work study programs, or even loans. Essentially, the SAR is your “results” for what …

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Can Legal Guardians Take Out PLUS Loans?

By Allison WignallLast updated on December 22, 2022

As their name would suggest, most student loans fall to the responsibility of the student themselves. However, there is one loan that revolves around the parents—PLUS loans. PLUS, in fact, stands for Parent Loan for Undergraduate Students and differs a little from other federal loans. It takes into consideration a family’s credit history, and is …

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What is an “Outside” Scholarship?

By Allison WignallLast updated on December 22, 2022

During your research into financial aid opportunities to help fund your college education, you may have come across the term “outside scholarship.” Scholarships are, without a doubt, the best way to pay for college—but what exactly does “outside” mean in regards to scholarship opportunities? What is an outside scholarship? Simply put, an outside scholarship is …

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Is Work Study Income Taxable?

By Allison WignallLast updated on December 22, 2022

In addition to scholarships and grants, joining a federal work study program is a great way to pay for college (and should definitely be considered before taking out a loan). Work Study Programs and Taxes In a work study, students will have a part-time job—typically related to their field of study—and have their earnings funneled …

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Is It Possible To Save For A House While Paying Off Student Loan Debt?

By College Raptor StaffLast updated on December 22, 2022

Owning your own home is part of the American dream, but how can you even think about realizing this dream when more than half your salary goes towards paying off your student loan for several years after your graduation? More and more borrowers are putting a hold on their dreams while struggling to stay out …

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Should High Schools Require a Financial Aid & Literacy Class?

By Allison WignallLast updated on December 22, 2022

When students bring up college, one of the very first conversation topics typically revolves around the cost. From tuition, to student loan debt, to scholarships, and more. But there seems to be one thing missing from a lot of those conversations—the availability of financial aid. Thus, should high schools require a financial aid and literacy …