It seems like just yesterday that I was graduating from law school….with a lot of student loans that I am still working to repay. Paying for college can be tough – especially if you are in an academic program that makes it difficult to work while you are studying.
I definitely have worked hard to pay my student loans, and it is a huge priority for me to help my girls get through college without having a lot of student loan debt at the start of their careers. This means that I am working hard to save for them now, even though they are still young! But even though I see them as still just kids, my oldest daughter is only three (gulp!) short years away from being a college freshman!
While I have a little longer to get stashing savings away for my youngest, I know that taking out a parent loan is definitely a likelihood for my older daughter. With college costs skyrocketing, it’s almost a guarantee that I will be needing to take out loans to help with my girls’ college expenses. So I was super excited to hear about College Ave Student Loans new Parent Loan! The cool part about College Ave’s parent loan is that it has no origination fee, and a lower fixed interest rate than the federal parent program. This means that I can get an average savings of $1000 of Federal Direct Parent Plus Loans. Plus, there are no restrictions on how I use it, so if my girls needs supplies like a laptop, books, etc, College Ave’s Parent Loan can cover that with an option to get up to $2500 deposited directly into my bank account!
They are also extremely flexible, so there will be options to fit my financial situation at the time – I can start paying back the loan right away (which gives a reduced interest rate!), limit payments while my girls are in school, and pick my own repayment terms from 5 to 12 years.
One of the things that I like best is how easy the College Ave Student loan website is to use – it’s simply and easy, which is not something I can say about the federal loan programs that I used when I was in school! Their website also has a lot of cool tools, including an awesome student loan calculator! It’s really easy to explore the process and apply quickly and easily!
Because my older daughter is pretty close, it’s time to start looking at my credit. And College Ave Student Loans is here to help me and you too! Right now for a limited time, Experian®, a leading global information services company, is providing free, personalized credit education with an Experience Credit Educator! They are working together to support parent borrowers and cosigners by offering a one-on-one, 35 minutes phone call where the Experian Credit Educator will walk through your Experian credit report and give you actions that you can take to improve their credit score. This is an AWESOME tool for parents to not only prepare for our kids’ college loan process, but also get a great insight into our credit. I will definitely be taking advantage of this program.
Are you concerned about your child’s college costs? How could College Ave Student Loans help you pay for your child’s college? Do you have any great savings tips for college?
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.