Happy Grads

Top Banks To Refinance And Consolidate Your Student Loans In 2018

payfored Refinance

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 a loan, most banks and …

Cancel Student Debt

The Incredible Economic Impact of Cancelling Everyone’s Student Debt

payfored Debt Prevention, Loan Forgivness

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 to both household financial stability …

Second Chance

Rare Second Chance For Student Loan Forgiveness

payfored Loan Forgivness

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 dollar allowance was allocated to …

Tsunami

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

payfored Uncategorized

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 . . . only half …

OMG! He’s Got $1 Million In Student Loans

payfored Debt Prevention

The Wall Street Journal recently published a story about Mike Meru, a dental student from USC who has accumulated more than $1 million in student debt! According to the department of education, more than 100 students across the country have passed the $1 million milestone. An additional 2.5 million students have crossed the $100,000 milestone in student loans. This level …

Rocket Relaunch

EFC PLUS Relaunches as Pay For ED

payfored New Student Debt Solutions

College Affordability is excited to announce that EFC PLUS has relaunched as Pay for ED.  This move will enhance our clients’ experience and improve our company profile.  This is the first phase of the rebranding and new product launches that will happen over the next few months. Here is a list of enhancements that were done in the rebranding: As …

Student Debt

Student Loan Interest Rates Are on the Rise!

payfored Interest Rates

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 program, and the Graduate Direct …

Forget Stanford and Harvard – In 2018 Student Debt is Ranked #1: New Survey Tracks Parent’s Stress Levels

payfored Parents

The Princeton Review recently published their annual survey of college applicants and their parents. The findings were based on more than 10,000 respondents and covered a range of questions from “what’s your dream college” to “what’s your biggest concern?” The Princeton Review has been conducting this survey for more than 15 years, and some of their trends are very revealing. …