Now that you understand how student loans can affect your credit, make sure you follow a few guidelines to ensure your student loan debt only helps – not hurts. Only borrow what you need. It might be tempting to borrow extra student loan money to pay for noneducational costs like dining […]
If you haven’t kept current with your student loan debt, you could be in default. Your student loans are placed in default if you haven’t made a payment on them in over 270 days. When your loans go into default, they typically transfer over from a student loan servicing company to […]
Once you have shortlisted your college/school to pursue your graduate studies, the biggest hurdle that you need to cross is planning for tuition fees and hostel and food bills, etc. Most students prefer opting for scholarships and grants, but in case you don’t get one, the next best option is applying for […]
The federal financial aid process can take several weeks to complete and can be difficult for borrowers to navigate. The list below details the steps required to secure a federal financial aid, from filing a FAFSA® to accepting a financial aid package Complete and submit a current year FAFSA® The Free […]
Student loan debt can feel overwhelming for many young adults in America. However, carrying student loan debt doesn’t have to be a burden when you create a realistic payoff plan. Here are five practical ways to help pay off your student loans: Choose the shortest student loan repayment program you […]
What you should know about education loans What you need to know about student loans is that they offer it to college students throughout their four years in college. The loan will cover the cost of their higher education tuition fee. There are also different modes and platforms of getting […]
It is becoming increasingly complex worldwide to secure employment opportunities without a diploma or a university degree. At most times, it is even more challenging for a student to complete their education due to the high cost of education involved. As a result of this issue, every parent, guardian, and […]
MICRO LOAN FUND It is a micro lending Fund for Kenyans disbursed through Safaricom Foundation’s partners – Junior Achievement Kenya (JA) and Hand in Hand Eastern Africa (HiHEA) who have experience in group mobilization, business training and provision of access to micro credit. The Fund is available to individuals and […]
While having a lot of student loans can be burdensome, there are some upsides of graduating with a bit of debt, especially the one you acquire from the department of education. Sometimes it is absolutely necessary for a student to require some financial help so as to complete his/her education. As a student don’t be so sad about it as there are two sides to every opportunity, the bad and the good.
Interest rate reduction
One of the larger benefits of student loans is that the interest you pay on the loans is often deductible, meaning you can subtract it from your income, reducing your tax burden for the year. The loans offered by the ministry of education in Kenya is deductible once you have finished your schooling and been employed. This ensures you study without much hassle and make payments later once you are employed.