questions & answers

Should I Wait To Get A Student Loan Until After I See My College Offer Letter?

By College Raptor StaffLast updated on December 22, 2022

When people thinking “how do I pay for college?” oftentimes the first thing that comes to mind is student loans. It makes sense, considering how often student loan discussions come up in the news. But is getting a private student loan really step one? Or should you wait until you see your college offer letter …

questions & answers

Can You Make More Than One Student Loan Repayment a Month?

By College Raptor StaffLast updated on December 22, 2022

Student loan debt can feel overwhelming. When you start repaying, those monthly bills can be frustrating. Depending on your lifestyle and your financial goals, there are two main ways you can handle your student loan debt (beyond a standard option). Maker smaller monthly payments. Or make two student loan repayment sums in a month and …

questions & answers

How Do I Prevent Student Loan Default?

By College Raptor StaffLast updated on December 22, 2022

You know what happens if you default on your student loans—your credit history takes a hit. This can have serious consequences on your future financial prospects. Lenders are reluctant to approve loans to defaulters and even if they do, they will charge you premium interest rates. This is not a scenario that anyone wants to …

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What Is Financial Awareness Counseling For Federal Student Loans?

By College Raptor StaffLast updated on December 22, 2022

Financial Awareness Counseling is a government service that helps students understand their loan commitments as borrowers. This is done through an online interactive tool called the FACT or Financial Awareness Counseling Tool. Generally, the aim is to help borrowers manage their finances better to prevent potential financial disasters. All students and families who have federal …

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Are There Prepayment Penalties For Student Loans?

By College Raptor StaffLast updated on December 22, 2022

The world of loans can feel like a treacherous one at times. There’s a lot to keep track of, and even more to watch out for. As you’ve navigated your own student loans, you may have come across the term “prepayment penalties.” But what does that mean? And, more importantly, how does it affect you? …

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Which Federal Student Loan Repayment Term Is Right For Me?

By College Raptor StaffLast updated on December 22, 2022

Many college students take out federal student loans, which also means paying them back someday. When that day comes, federal student loans have multiple repayment plans for students to choose from. The student loan repayment term that you choose directly impacts the amount that you have to pay back every month. It also affects the …

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What Happens if You Miss a Student Loan Payment?

By College Raptor StaffLast updated on March 7, 2024

Student loans are a reality for many of us, and keeping up with payments can be tough. So what happens if you miss one? It’s a question worth exploring because missing a payment can have serious consequences. In this article, we’ll break down what happens when you miss a student loan payment in plain and …

questions & answers

Should I Pay More Than Minimum On Monthly Student Loan Repayments?

By College Raptor StaffLast updated on May 30, 2023

If you have disposable income, you may be asking, ‘Can (or should) I pay more than the minimum on monthly student loans? The truth is there is no single answer to this question that’s right for all student loan borrowers. Paying more than the minimum on monthly student loan repayments does have some great benefits. …

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Can You Have More Than One Cosigner On A Student Loan?

By College Raptor StaffLast updated on December 22, 2022

Many college students need to take out a private student loan in order to pay for college. However, not many have had the chance to build their own credit yet. Having a cosigner can help you get approved for student loans. But you may be wondering: can I have multiple student loan cosigners? Most Lenders …

questions & answers

How Often Should I Apply For Scholarship Programs?

By College Raptor StaffLast updated on December 22, 2022

When it comes to paying for college, every little bit counts. And scholarships can help more than just a little bit. So it begs the question: how often should you apply for scholarship programs? The short answer is you should apply for scholarships as often as possible. Consider these two features of scholarships: Scholarships are …