It’s possible to get a Laurel Road loan with a cosigner, with cosigner release available after 36 consecutive payments

It’s possible to get a Laurel Road loan with a cosigner, with cosigner release available after 36 consecutive payments

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Laurel Road

good personal loans for fair creditLaurel Road was acquired by KeyBank in 2019 and offers access to a variety of banking products, including student loan refinancing. Laurel Road also offers a checking account that can be connected to your refinancing application. If you open a checking account and set up monthly direct deposits, you may be eligible for a rate discount on your student loan. Another unique offering is a credit card that offers https://worldpaydayloans.com/payday-loans-ny/ up to 2% back – and lets you apply those rewards toward your student loan debt.

Laurel Road offers multiple refinancing options, including on private parent loans, parent PLUS loans, federal loans, and graduate school loans. For those who are still in school, Laurel Road allows you to refinance while you’re in your final semester. One of the main drawbacks is that refinancing for associate degrees is limited to certain healthcare-related programs.

Earnest

Earnest offers a variety of lending products, including private student loans and personal loans, in addition to student loan refinancing. Earnest is also launching a credit card designed to give up to 3% cash back toward paying down student debt.

Earnest has a list of additional eligibility requirements beyond the typical credit score and income criteria, including having enough in savings to cover at least two months’ worth of expenses. While the required credit score minimum is relatively low, at 650, Earnest is looking for information on how you manage your money.Continue reading

What kinds of financial aid can I get?

What kinds of financial <a href="https://badcreditloanshelp.net/payday-loans-ny/">New York payday loan lenders</a> aid can I get?
There are four main types of financial aid: loans, grants, scholarships, and work-study. In a given financial aid package, a student may qualify for multiples types of aid depending on how much financial need they (and their family) demonstrate and their academic merit. Most aid that comes from the federal government is based on financial need, while aid from other sources may be either need- or merit-based.

What are loans?

A loan is a sum of money borrowed from either the federal government or a private organization. The money is then used to help pay for school-related costs. Loans need to be repaid with interest. Federal loans offer more benefits and are more student-friendly than private loans.

  • Federal loans: There is currently only one federal loan program: the William D. Ford Federal Direct Loan Program (Direct Loan Program). Direct Loans are managed by the U.S. Department of Education and allow undergraduate students to take out up to $12,500 annually, depending on a variety of factors. Financial need is not a prerequisite for all federal loans.Continue reading