Student Loan Education

Latest Guides

  • Different Types of Student Aid
    There are several different types of financial aid and it is important to understand the differences between each of them. As a general rule, money that does not need to be repaid is preferable to student loans and other forms of debt. We instruct you about scholarships, grants, loans, federal student loans, subsidized and unsubsidized loans, parent loans, and private student loans.
  • Understanding Student Loan Terms
    We have assembled a brief explanation here of many of the terms you might find on a student loan (or any type of loan for that matter). This is certainly not an exhaustive list, and you should always consult a school's financial aid administrator if you have additional questions regarding any student loan. SPENDonLIFE.com expounds on interest rates, fees, and loan terms.
  • What is a Student Loan Consolidation?
    By consolidating your loans you can reduce your interest rate up to an additional 1.25%. Here's how: 25% rate reduction for payments automatically withdrawn from a checking account; .5% rate reduction after 48 on-time payments with a loan balance between $20,000 and $50,000; 1% rate reduction after 48 on-time payments with a loan balance over $50,000. If you've just graduated, it's smart.

Latest Blog Posts

  • People Capital Offers a New Student Score to Rival FICO
    FICO schmico. Credit scores have long proven an obstacle to getting a loan for students with little credit history. But there's a new score in town and it is specifically designed for students.
  • Credit Recipes: Cooking up Credit Score Greatness
    Like a slow-simmering chicken cacciatore, your credit score requires certain ingredients and ample time to bring out its full potential. The credit score recipes we show here will make the most out of the ingredients you already have in your “pantry” at home.
  • Drowning in Student Loan Debt? IBR Law May Help
    If you're struggling to keep up with your federal student loan payments, you should apply for an income-based-repayment plan. Learn all about it here.
  • The Reality of the Joneses
    Do you have a "keeping up with the Joneses" mentality? You know, the mindset that you should have a better, bigger, and brighter lifestyle than those less fortunate, little people around you? Yep…you know what I’m talking about!
  • Students Get Squeezed between Credit Card Companies and Colleges
    Students are getting squeezed between creditors and colleges both by having their privacy compromised as well as when they use a credit card to pay tuition.
  • SPENDonLIFE Scholarship Winners!
    SPENDonLIFE.com is proud to announce the five winners of its 2009 scholarship competition. We at SPENDonLIFE firmly believe that poor credit history shouldn't stand in the way of higher education, and are happy to help ease the financial burden of our scholarship winners.
  • Vanishing Financial Aid Leaves Students in the Lurch
    The economic downturn isn’t just hurting those with 401ks and mortgages. Graduating high schoolers and current college kids are feeling its severe effects, too, mainly in the form of harder-to-get financial aid.
  • My Credit Journey - Starting at Rock Bottom
    When I was growing up, I could care less about credit. I didn't understand credit cards or loans - all I really wanted to do was buy cool clothes and go out a lot. I blew off paying student loan bills, never expecting to screw my future self up so badly. Here's my story.
  • Friday Grab Bag - 4/24/2009
    Every Friday we round up interesting news tidbits, personal finance advice, and scam alerts we think you’ll find interesting or helpful. Check here each week for informative and slightly off-the-wall stories related to the economy, credit, and identity theft. You never know what you’ll find in the Friday grab bag. Enjoy!
  • College Kids and Credit Cards: Sallie Mae's Latest Study
    Sallie Mae just released its 2009 study, "How Undergraduate Students Use Credit Cards." The results show that, despite the credit crisis, college students are relying on credit more than ever before.