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Student Loan
Invest in Your Dreams with a Student Loan Built for You
Fund your studies with student loans that offer competitive rates and terms tailored for students like you.
Applying won’t affect your credit score
What is a Student Loan?
A student loan is a type of financing designed to help cover the costs of higher education, including tuition, books, housing, and other expenses. With a student loan, you can focus on your studies without the immediate financial burden, repaying the loan over time through manageable monthly payments.
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Student loans often come with flexible repayment terms and lower interest rates, making them a practical choice for funding education. Many student loans offer the option to defer payments while you’re in school, giving you more time to establish your career before beginning repayment. By consistently making on-time payments after graduation, a student loan can also help build a strong credit history.
Invest in Your Future with the Right Student Loan
Cover All Aspects of Your Education
From tuition to textbooks, room and board, and even essential technology for your studies, a student loan can provide the financial support you need to focus on your education without constant worry about expenses. We’re here to help you secure the funding necessary to thrive academically.
Flexible Repayment Plans for Every Stage of Your Journey
Student loans shouldn’t burden you during or after college. We offer flexible repayment options designed to match your unique situation. Start with deferred payments while you’re in school or opt for low monthly payments after graduation. Choose a plan that aligns with your future career and financial goals.
Secure the Funding You Need to Pursue Your Education
Get fast approvals and flexible terms tailored to your academic journey.
Questions? We’ve Got Answers
Yes, student loans do affect your credit score. When you take out a student loan, it appears on your credit report and contributes to your overall credit utilization and payment history. Making timely payments can help improve your credit score, while missed or late payments can negatively impact it. Additionally, the total amount of debt you have from student loans can influence your credit score.
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Whether you should pay off your student loans depends on individual circumstances:
1. If you have high-interest loans, prioritizing repayment can save money over time.
2. If you have lower interest rates and other financial priorities (like saving for retirement), it might be beneficial to focus on those areas instead. Ultimately, consider your financial situation, interest rates, and long-term goals when making this decision.
Student loan interest is calculated based on the principal amount borrowed and the interest rate specified by the lender. Interest accrues daily on most loans but is typically capitalized (added to the principal) at certain points, such as when you enter repayment after a grace period or deferment. The type of loan also affects how interest works:
Federal Loans: Often have fixed interest rates set by the government.
Private Loans: May have variable or fixed rates determined by the lender based on creditworthiness.
If you do not pay your student loans, as mentioned earlier, you’ll face late fees and a negative impact on your credit score. Over time, continued non-payment can lead to default status, which brings further repercussions such as collections actions, wage garnishment, and loss of eligibility for federal benefits like tax refunds or Social Security benefits.