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3 ways to get the best student loan for fall 2024
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Fall is a popular season for college enrollment. And, with summer underway, you may be planning on starting or continuing your college career soon. But college comes with tuition fees. And, that’s on top of the cost of room and board, meal plans, books and other expenses you’ll need to cover while you’re in school.
If you spend the bulk of your time in class and studying for exams, it may be difficult to maintain a full-time job to cover these costs. That’s one of the reasons many students rely on student loans.
And, the financial institutions that provide these loans compete with one another. So, you’ll typically find that some options are better than others. What can you do to get the best student loan for fall 2024? We’ll explore the possibilities below.
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3 ways to get the best student loan for fall 2024
You can do a few things to get the best student loan this fall. Follow these tips to do so:
Compare your options
Start by comparing your options. When you do, keep in mind that federal student loans typically come with better interest rates and more favorable terms than their private counterparts. However, you may need to choose a private option if you don’t qualify for federal loans or if they don’t provide enough funding to meet your needs.
If you need a private student loan, there are a few things you should pay close attention to:
- Interest rates: Look for the lowest interest rate as lower rates typically come with more affordable monthly payments and a reduced overall cost of borrowing money.
- Interest rate types: Some student loans offer fixed rates while others are variable. With inflation cooling and interest rates expected to fall overall, variable rate options may be better in today’s economic climate.
- Loan origination fees: Look for the lowest loan origination fee you can find alongside a reasonable interest rate to keep your costs down.
- Application fees: Try to find providers with minimal or no application fees.
- Prepayment penalties: Some student loans may charge a fee for paying them off early. Be sure to compare these as you may not want to keep the loan for its entire term. And, keep in mind that these fees typically still apply if you refinance your loan.
Compare the best student loan options now.
Improve your credit score
Lenders typically rely on credit reports and scores to determine the risk loaning money to a borrower poses. High-risk applicants, or those with poor credit, typically pay higher rates and fees than lower-risk applicants, or those with good credit. So, consider working to improve your score.
If you have no credit history, you can use a secured credit card to start building it. If you have delinquent accounts on your credit report, consider attempting to settle them for less or simply paying what you owe to give your credit score a boost.
Get a cosigner
Many college students are young adults with limited credit history. If that sounds like you, you may benefit from a cosigner. Cosigners may never pay your loan, but they will share in the responsibility to pay if you’re unable to do so on your own. And, if your co-signer has a solid credit profile, they could help cut the cost of your student loan. Consider reaching out to your family members and close friends and asking them to co-sign your student loan.
The bottom line
Fall is quickly approaching. So, it’s time to get your finances in order for the coming semester. And if that includes getting a student loan, there are a few things you can do to ensure you get the best one. Start by looking into federal student loans since these tend to come with the lowest rates and most favorable terms. But, if you don’t qualify for federal loans, you may need to move forward with their private counterparts. If that’s the case, compare your options and do what you can to improve your credit score before you apply. And, consider talking to your friends and family about co-signing your loan to bring your cost down. Compare leading student loan options now.
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A Georgia county’s emergency call center was overwhelmed by calls on Sept. 4 about a school shooting at Apalachee High School that killed four people and wounded nine others, records released Friday by Barrow County show.
Local news organizations report many of the 911 phone calls were not released under public record requests because state law exempts from release calls recording the voice of someone younger than 18 years old. That exemption would cover calls from most of the 1,900 students at the school in Winder, northeast of Atlanta.
Calls spiked around 10:20 a.m., when authorities have said that 14-year-old suspect Colt Gray began shooting. Many calls were answered with an automated message saying there was a “high call volume,” WAGA-TV reported.
One man called 911 after receiving text messages from a girlfriend. He was put on hold for just over 10 minutes because of an influx of calls at the time of the shooting, The Atlanta Journal-Constitution reported.
“She hears people yelling outside, so I don’t know if that’s officers in the building or that’s — I don’t know,” he said, adding that she was eventually evacuated out of the school.
Other adults also called 911 after their children contacted them.
“My daughter calling me crying. Somebody go ‘boom, boom, boom, boom,'” one mother said. The 911 operator responded: “Ma’am we have officers out there, OK?”
Parents of students at an elementary school and middle school neighboring Apalachee also flooded 911 seeking information.
“Sir, my daughter goes to school next door to Apalachee. Is there a school shooter?” one caller asked.
“We do have an active situation (at) Apalachee High School right now,” the operator responded. “We have a lot of calls coming in.”
More than 500 radio messages between emergency personnel were also released Friday.
“Active shooter!” an officer yells in one audio clip while speaking with a dispatcher, CNN reported. Another officer responds, “Correct. We have an active shooter at Apalachee High School.”
The shooting killed teachers Richard Aspinwall, 39, and Cristina Irimie, 53, as well as students Mason Schermerhorn and Christian Angulo, both 14. Another teacher and eight more students were wounded, with seven of those hit by gunfire.
The Georgia Bureau of Investigation reported Thursday that the suspect rode the school bus on the day of the shooting with the assault-style rifle concealed in his backpack.
He then asked a teacher for permission to go to the front office to speak with someone, and when he received it, he was allowed to take his backpack with him, GBI said. He then went to a restroom, where he hid, and then eventually took out the weapon and started shooting, investigators said. A knife was also found on him when he was arrested.
According to investigators, the suspect enrolled at Apalachee High on Aug. 14, and between Aug. 14 and the day of the shooting, he was absent for nine days of school.
The family told CBS News that the suspect’s maternal grandmother had visited the school the day before the massacre to discuss the suspect’s alleged behavioral issues.
The suspect has been charged as an adult with four counts of murder, and District Attorney Brad Smith has said more charges are likely to be filed against him in connection with the wounded. Authorities have also charged his father, 54-year-old Colin Gray, alleging that he gave his son access to the gun when he knew or should have known that the teen was a danger to himself and others.
The 13,000 students at Barrow County’s other schools returned to class Tuesday. The 1,900 students who attend Apalachee are supposed to start returning the week of Sept. 23, officials said Friday.
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