Resources students can go to for help and to do research about the college application process.
TL;DR: An unsecured loan is a type of loan that doesn’t require collateral, meaning you don’t need to pledge any asset (like a house or car) to get it. Instead, lenders assess your creditworthiness based on your financial history, credit score, and income. While easier to obtain if you have good credit, these loans often […]
TL;DR: A secured loan is a type of loan backed by collateral, which is an asset you pledge (like a car or house) that the lender can claim if you don’t repay the loan. Because there’s less risk to the lender, secured loans often come with lower interest rates and higher borrowing limits than unsecured […]
TL;DR: Interest is the cost of borrowing money, usually expressed as a percentage. When you borrow, you pay interest to the lender. When you lend, you earn interest. It’s foundational to loans, credit cards, and investments. Interest is a fee paid by a borrower to a lender for the privilege of using their money. This […]
TL;DR: A standard fixed repayment plan is a loan repayment option where borrowers make the same monthly payment for a set period until the loan is paid off. It’s predictable, consistent, and often leads to paying less interest over time compared to other plans. A standard fixed repayment plan is one of the most common […]
TL;DR: A graduated repayment plan is a student loan repayment option where payments start low and increase over time, usually every two years. It’s a good choice for borrowers expecting their income to rise in the future, as it allows for smaller payments early on while still paying off the loan within the typical 10-year […]
TL;DR: Private student loans are issued by private lenders like banks, credit unions, and online lenders, rather than the government. They typically have higher interest rates, stricter qualification requirements, and limited repayment options compared to federal loans. Private loans may be an option if you’ve exhausted all federal aid, scholarships, and grants, or need extra […]
TL;DR: Parents who want to support their children’s education can explore several student loan options, including federal Parent PLUS Loans, private parent loans, home equity loans, and personal loans. Each option has its pros and cons, so it’s essential to weigh interest rates, repayment flexibility, and financial impact before making a decision. As the cost […]
TL;DR: Federal Perkins Loans were low-interest, government-funded loans specifically designed for students with exceptional financial need. Although the program ended in 2017, borrowers who took out Perkins Loans before that date are still responsible for repayment and may have access to unique forgiveness and cancellation options based on their career field and length of service. […]
TL;DR: Direct PLUS Loans are federal loans for parents of undergraduate students or for graduate/professional students. They help cover education costs not met by other financial aid. Although they have flexible repayment options, they come with higher interest rates and fees, making it essential to weigh them carefully before borrowing. What Are Direct PLUS Loans? […]
TL;DR: A Graduated Repayment Plan starts with lower payments that gradually increase every two years, helping borrowers manage early financial constraints. The loan term typically lasts up to 10 years. In contrast, a Graduated Extended Repayment Plan also begins with low payments that increase over time but extends the repayment period to up to 25 […]
Aaron Williams 
