Managing credit well is a key part of money management, and here, we cover topics ranging from how credit impacts the loan approval process to how to manage credit well during and after college.
Below is a list of the most recent posts in the Credit category. You can also search for posts by keyword, or check out the Archives page for a full list of categories.
Earlier this week, the Federal Reserve announced “Operation Twist” in an attempt to drive down interest rates to spur borrowing and grow the economy. The new measures are mostly targeted at decreasing long-term interest rates, with a priority being the rates for mortgages. However, they could also have some effects on the student loan market,…
As the founder of Credit Card Forum, I read stories from students every day on our message board and blog. From my experience, these are the three biggest credit card traps that students aren’t aware of…
For years, a major concern for students who wanted to shop for a private student loan was that their credit score would be hurt if they applied to multiple lenders.
Lenders use a combination of information obtained on the student’s and co-signer’s credit report and their FICO scores (provided by Fair Isaac Corporation) to determine the…
Recent trends have dramatically impacted the number of private student loans available and the variety of terms and interest rates.
When then credit crisis broke out in 2007, the number of large banks offering private student loans went from 80 to 10, resulting in little competition and rising interest rates (see: Recent Trends in Private…
Once a student has maximized all of their available financial aid, including grants, scholarships, work-study and Stafford loans, they may discover they still need a loan to fill their funding “gap”. For these students, there are typically two options to consider: a Federal Direct PLUS loan for parents from the Department of Education or a…
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