by Jennifer Wilcox, former associate director of financial aid at Albany Medical College

Congratulations—you did it! You completed your undergraduate degree, MCAT, and the medical school interview process. You are now taking your first steps toward becoming a doctor. If you borrowed student loans for your undergraduate degree, however, there are a few things you need to think about before you get caught up in daydreaming about your Gross Anatomy lab, white coat ceremony, reciting the Hippocratic Oath.

by Jeanne Mahan, former financial aid officer at Tufts University

What do I do with my first tuition bill?

It’s July and that long-awaited tuition bill will be here any minute. Even though you’ve been preparing for it, the first tuition bill can still catch you off guard. Before making any payments, here are some things to know.

With the decision deadline of May 1 in the rearview mirror many families are trying to figure out ways to cover unmet college costs. Did your student receive a federal direct loan on their financial aid award letter? Parents, are you considering borrowing from the Parent PLUS Loan Program to finance your share of the tuition bill? In this video, finance educator Shannon Vasconcelos explains what it means to borrow a direct loan.

by Shannon Vasconcelos, former financial aid officer at Tufts University

Attention high school seniors, continuing college students, and all of their parents: In news coming out of the U.S. Department of the Treasury today, we now know what federal student loan interest rates will be for the upcoming school year. 

Guest post from Sabrina Manville, Co-founder and COO of Edmit

When talking about student debt, many people cite the average student loan burden of bachelor’s degree graduates these days, which is around $30,000. But this number omits an important reality: the fact that many parents are taking on more of the financial burden to pay for their children’s college. And increasingly, this burden is in the form of additional debt. 

by Shannon Vasconcelos, former financial aid officer at Tufts University

Important news for student loan borrowers coming out of the Department of Education this weekend!

Secretary of Education Betsy Devos announced the extension of the automatic loan forbearance for federal student loan borrowers through January 31, 2021.  This forbearance was originally granted by the CARES Act and was scheduled to end September 30, 2020. President Trump later extended the forbearance by executive action through December 31, 2020, and Devos’ latest action ensures that struggling borrowers will not need to make payments prior to the new administration taking office in late January.

With the pandemic disrupting in-person classes and raising the question of whether or not students will be on campus this fall, some families are investigating distance learning. Join us to learn more about who might flourish in distance learning and what to look for in the options available. We’ll also go through what parents need to know about borrowing money to pay for college, and a College Coach educator will share his personal experience with a post-graduate year of study between high school and college.

by Robyn Stewart, former financial aid officer at College of the Holy Cross

Question: If I’ve had credit issues in my past, will I still be able to get a loan to pay for my child’s college education?

College Coach’s college finance experts get asked this question frequently and there is no simple answer. Unfortunately the true answer is that it depends. Credit issues can certainly impact your ability to borrow and to earn a competitive interest rate on an education loan. This doesn’t mean that you should rule out using student loans as part of your paying for college strategy.

Find a Co-Borrower

Many education loans for parents are available with a co-borrower. If you have a friend or family member who is willing to back your loan, you may be able to get a loan even with poor credit.

by Shannon Vasconcelos, former financial aid officer at Tufts University

In a welcome reprieve from the sea of bad news we’ve been drowning in lately, today we have some good news for student loan borrowers.  We now know what federal student loan interest rates will be for the 2020/21 school year, and… drum roll, please… those interest rates have dropped to historic lows!

Can a Parent PLUS Loan be forgiven?

The short answer is yes.

And no.

Confused yet?