Blog

FAFSA App

The Department of Education has tried to simplify and improve the customer experience for the Free Application for Federal Student Aid or FAFSA. Each year, the FAFSA needs to be submitted, for a student to receive federal financial aid. The FAFSA for the school year 2019-2020 will be available on October 1st and this year [...]

FAFSA App2018-10-12T09:50:01+00:00

Completing the FAFSA

The fall is here which means it is also FAFSA time. Unlike Halloween, this should not be a scary time if you are organized and have a little patience. It is an important step in the college funding process, and we believe that every student should complete the FAFSA for a variety of reasons. Completing [...]

Completing the FAFSA2018-10-03T17:54:53+00:00

EFC Calculation

The financial aid process can be overwhelming and as we walk families through this process it is important to understand the Expected Family Contribution or EFC. The EFC is generated after completing the FAFSA and it determines your need-based aid. I wanted to explain how the EFC is calculated so that you have a better [...]

EFC Calculation2018-10-03T17:56:47+00:00

Creating an FSA ID

The FSA ID is the login and electronic signature process that is used by the Department of Education for students, parents, and borrowers to apply for federal student aid, sign their FAFSA and access any federal student aid records online. To sign and access the federal financial aid systems, you will need to create an [...]

Creating an FSA ID2018-10-03T18:25:27+00:00

Top Banks To Refinance And Consolidate Your Student Loans In 2018

Let’s face it - finding the right bank to refinance or consolidate your student loans can be very confusing! Fortunately, here at Pay For Ed we’ve vetted the top banks and lenders to help you refinance and consolidate both private and federal student loans, based on your financial situation. Remember - when you apply for [...]

Top Banks To Refinance And Consolidate Your Student Loans In 20182018-10-14T22:26:28+00:00

The Incredible Economic Impact of Cancelling Everyone’s Student Debt

As student debt continues to spiral upwards, affecting close to 50 million Americans – policy makers and universities have been exploring options for turning the tide on this crushing financial burden. According to recent research at Bard College, “there is mounting evidence that the escalation of student debt in the United States is an impediment [...]

The Incredible Economic Impact of Cancelling Everyone’s Student Debt2018-10-14T22:23:19+00:00

Rare Second Chance For Student Loan Forgiveness

Second chances like this don't come very often, especially when it comes to student loans! Due to the incorrect advice and proper communication of the Public Service Loan Forgiveness (PSLF) program, the federal government is offering a one-time offer to help borrowers who received bad advice. In the Consolidation Appropriation Act, 2018 a 350 million [...]

Rare Second Chance For Student Loan Forgiveness2018-09-30T22:26:03+00:00

Don’t Get Crushed By A Tsunami of Debt: Student Loan Default Rate Soaring Past 25%

New research has found that the student loan crisis is actually much worse than previously thought, with loan default rates soaring past 25% when longer time frames are applied to Department of Education data sets. As described in Forbes magazine, researcher Erin Velez found that “even among those who borrowed only for their undergraduate education [...]

Don’t Get Crushed By A Tsunami of Debt: Student Loan Default Rate Soaring Past 25%2018-10-14T22:28:30+00:00

Student Loan Interest Rates Are on the Rise!

Student loan interest rates are on the rise! The Federal Direct Student Loan interest rates for the school year 2018-2019 have been determined by the government and will increase by 0.595 percentage points for new loans made after July 1, 2018.  The new student loan interest rate is 5.045 % for the Undergraduate Direct Loan [...]

Student Loan Interest Rates Are on the Rise!2018-10-14T22:25:18+00:00