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6 student loan moves to make now if you still don’t have financing
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So, you’re starting a new college year in the coming weeks, or perhaps even as soon as this week. You’ve sorted out your schedule and you’re excited to get started. But there’s one major problem: Your financing isn’t fully lined up yet. With the clock ticking, you must figure out how to cover your remaining expenses before your college classes begin.
Thankfully, if you’re in this situation, there’s still time to get your financing in order before the upcoming school year. Here’s how you can do that.
Don’t wait until it’s too late. Start comparing your private student loan options now.
6 student loan moves to make now if you still don’t have financing
Here are a few moves you can make now to secure the funds you need.
1. Exhaust federal student loan options
To be eligible for federal, state or institutional aid for the following academic year, you must submit a Free Application for Federal Student Aid (FAFSA) by the deadline. If you’ve already applied, you can make corrections through September 14 for the current school year.
Federal student loans typically offer favorable terms, including lower interest rates, borrower protections, flexible repayment options and the potential for student loan forgiveness. The FAFSA also helps you qualify for grants and scholarships. Since these options don’t need to be repaid, they can significantly lower the overall cost of your education.
Stacey MacPhetres, the senior director of education finance at EdAssist by Bright Horizons, notes that subsidized federal student loans may save you money while attending school at least half-time.
“Any portion of a student’s federal student loans that are subsidized will not accrue interest while the student is enrolled in college. Private loans are not subsidized and would always accrue interest during periods of enrollment,” MacPhetres says.
Find out more about how affordable the right private student loans could be.
2. Contact your institution’s financial aid office
“If a student needs to get a loan quickly before the semester begins, the first step is to contact the college financial aid office ASAP,” says student loan counselor and freelance writer Kat Tretina. “You may be eligible for institutional emergency loans to cover the remainder needed. Or you may not have taken out all the federal student loans you were eligible for, so the financial aid office can make sure you take advantage of all available aid.”
Tretina also notes that payment plans are another valuable option for making tuition, fees and room and board more manageable.
“Rather than paying a lump sum upfront, you make monthly payments—usually without any interest. Making payments can give you time to find other financing if needed,” Tretina says.
3. Shop for private student loans to fill in gaps
If your government and institutional aid aren’t enough to meet your financial needs, you might consider adding in private student loans to cover expenses. While federal student loans generally offer lower interest rates, you may qualify for private student loan rates near 4% with excellent credit and a cosigner.
Private student loans also typically offer higher borrowing amounts than federal student loans. For example, undergraduate students can borrow between $5,500 and $23,000 per year in federal loans, up to a total aggregate limit of $57,500 for dependent students. Conversely, private student loans can cover up to the full cost of attendance, including tuition, fees, room and board and other school-related expenses.
If you opt for private student loans, understand the process may take time.
“The lender has to certify the loan with your school, so depending on how quickly your college responds, it can take several weeks,” says Tretina.
4. Contact your state’s education agency
You may still qualify for government funding even if you’ve exhausted federal financing options. Many states offer their own financial assistance programs, grants and scholarships. Contact your state’s higher education agency to discover what state opportunities are available.
For example, some states offer low-interest student loans, tuition assistance programs and work-study programs for state residents. Just make sure you understand the application deadlines and requirements for any state programs you’re interested in.
5. Apply for scholarships and grants
Scholarships and grants are essentially “free money” you don’t have to repay and can be an excellent option if you missed the deadline for financial aid. Search for scholarships using the U.S. Department of Labor’s free scholarship search tool and other resources. Look for scholarships that match your experience, achievements and background. Also, ask your financial aid counselor about grants and local scholarships they recommend.
6. Look into emergency aid
When consulting your financial aid office, check to see if you qualify for any emergency student loan programs. Many colleges offer low-interest and interest-free emergency loans to students dealing with unforeseen circumstances. You usually can’t use these loans for tuition, but they might help you pay for urgent expenses like food, medical expenses and last-minute travel costs.
“These loans are generally made for small amounts — often $1,000 or less — and have short repayment timelines,” says Leslie Tayne, founder of Tayne Law Group and author of Life and Debt. “So an emergency loan may not be a great option if you need a significant amount of money.”
The bottom line
If you’re a college student in need of funding for school, the options outlined above can help you access funds for the upcoming academic year and can also help you plan for future semesters. When applying for financial aid, you may avoid delays by filling out applications accurately and responding promptly to requests for supporting documents. Also, applying with a cosigner may accelerate your timeline and potentially improve your odds of approval for student loans.
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U.S. Air Force gives update on new B-21 stealth bomber: “Nobody on the planet can do what we’re doing”
Air Force leaders gave an update on the B-21 Raider, a futuristic aircraft that is expected to become the United States’ next nuclear stealth bomber.
The aircraft can deliver both “conventional and nuclear munitions,” according to a news release from the Air Force, but will be “critical to deterring conflict” around the world. Gen. Thomas Bussiere, commander of the Air Force Global Strike Command, said the stealth bomber will help the United States keep pace with threats worldwide.
“We are the free world’s only bomber force. … Nobody on the planet can do what we’re doing right now,” Bussiere said, adding that there will likely be an increased demand for the support the stealth bomber can provide in the coming years.
Air Force Global Strike Command
Currently, the stealth bomber remains in the test flight stage, and is doing two such flights a week, according to Thomas Jones, the Northrop Grumman Aeronautics Systems sector president. A photo shared by the Air Force shows one of the bombers during flight testing.
“We’re really starting to strike up quite a cadence … when we started this journey, we made a vow that we were going to design this system to be a daily flyer,” Jones said, according to the release. “It’s been a phenomenal year of progress, and we hope to continue that through the next year.”
A recent notable test confirmed the stealth bomber’s structural design and integrity, according to officials. The plane is now going through a fatigue testing campaign.
Once the planes are tested, some of the aircraft will be delivered to the Ellsworth Air Force Base in South Dakota to help train Air Force squadrons on the stealth bomber. When the B-21 enters the service, this site will be the main operating base for the stealth bomber.
Whiteman Air Force Base in Missouri will be a secondary base, and Dyess Air Force Base in Texas a third.
The stealth bomber is set to replace the B-1 Lancer and B-2 Spirit bombers in the Air Force’s fleet.
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Whether you’re barreling down a mountainside or taking a leisurely ride along your local trail, a great mountain bike is key. But what exactly does a great mountain bike look like, in terms of features? It depends on the kind of terrain and riding style you do.
The best mountain bike for long, cross-country rides will have very different specs than a downhill bike. Some offer full suspension for a smooth ride on bumpy trails. Some have wider tires that are better at gripping wet or sandy terrain. Some are designed for maximum pedaling efficiency and serious stopping power so you can climb steep mountainsides without wearing yourself out. No matter where you and your new bike are headed this fall, we’ve rounded up the best mountain bikes for every rider and every terrain in 2024. Don’t forget to strap on your bike helmet.
Best mountain bike for beginners: Giant Talon 29 1
Mike’s Bikes
The Giant Talon 29 1 is a solid entry-level mountain bike at a reasonable price point. With its balanced frame geometry and high-traction tires, it’s great for a comfortable, stable ride on most trails. While that means it’s not specialized for uphill climbs or cross-country speed, the balanced design is great for beginners or casual riders who aren’t planning to tackle those more challenging technical trails just yet.
With 80mm to 100mm of suspension travel, this hardtail mountain bike strikes that perfect balance of pedaling efficiency and shock absorption.
Riders can also adjust the suspension within that range by adjusting the air spring and the rebound damping. That gives you improved steering precision and a better ride feel since you can tailor it to your needs. If you’re a beginner, it may take some trial and error to fine-tune those settings, but playing around with them is a great way to learn how suspension impacts your ride.
Get this reliable entry-level mountain bike at Mike’s Bikes for $950.
Top features of the Giant Talon 29 1:
- Grippy tires offer great traction in any trail conditions.
- The balanced frame geometry makes this a comfortable bike for most riders.
- The adjustable suspension fork allows you to fine-tune this mountain bike for your needs.
Best trail bike: Santa Cruz Tallboy C R
Backcountry
A full-suspension mountain bike with 120mm and 130mm suspension travel on the rear and front, respectively, it doesn’t get cushier than the Santa Cruz Tallboy C R (at least, not at this price point). Built for cross-country or trail riding, this bike’s design allows you to glide through rocky terrain almost as if you were just cruising on a paved road. That suspension also helps cushion the impact on pops and short drops so you can build up speed while navigating the trail with confidence.
With that said, it can be a little sluggish on uphill climbs. But if you typically stick to more straightforward trails, you won’t have to deal with that issue. For those just-for-fun weekend trail rides, this is the mountain bike you want.
Get this comfortable, agile trail bike at Backcountry while it’s on sale for $3,849 (reduced from $4,799).
Top features of the Santa Cruz Tallboy C R:
- Boasting full suspension, this mountain bike is a comfy ride no matter how bumpy the terrain.
- The carbon C frame is both lightweight and stiff for better control and improved agility.
- The four-piston brakes offer excellent stopping power.
Best fat tire mountain bike: State 6061 Trail+
State Bicycle Co.
For wet or sandy trails, traction is everything, which means you need a fat tire bike like the State 6061 Trail+. With 4.5-inch wide tires that can handle running even at low PSI, this mountain bike can grip the trail no matter how loose or slippery.
Whether you want to cruise along sandy beaches or power through snowy mountain trails, the stability of this fat tire bike is the key to doing so safely and confidently. You won’t be building up much speed, but you’ll have a lot of fun plowing through trails that a standard trail bike couldn’t even touch.
Get this fat tire bike directly from State Bicycle Co. for $1,000.
Top features of the State 6061 Trail+:
- Thick 4.5-inch tires provide extra grip for wet or loose terrain like snow, sand and mud.
- With low PSI capabilities, you can lower the tire pressure to widen the surface area even further to maximize your grip on soft, slippery trails.
- The alloy frame is stiff and strong without adding any more bulk than necessary.
Best mountain bike under $500: Huffy Stone Mountain
Amazon
The Huffy Stone Mountain is a hardtail mountain bike that is lightweight and offers good traction for navigating trails. The budget-friendly bike is missing a lot of the features you’ll find on the more advanced mountain bikes listed above. However, if you’re just starting out and just want to get out on a trail to see if you like mountain biking, this is a good bike to start with.
While you can’t take it on any serious trails, it’s got the basics you need for easy local bike trails. Use it to get a feel for the sport and then upgrade to a mountain bike better suited to the kind of trails you want to tackle. Then, pass this Huffy Stone Mountain on to a friend or teen who’s curious about mountain biking.
A bestseller on Amazon, this budget mountain bike is available for as low as $200.
Top features of the Huffy Stone Mountain:
- This budget entry-level bike is great for casual rides on easy bike trails.
- A wide variety of frame and wheel sizes allows you to get the right fit for your height.
- The lightweight, high-traction design is just enough to let you get a feel for mountain biking before committing to a higher-priced mountain bike with more advanced features and customizability.
Shop more top-rated mountain bikes:
What type of mountain bike should a beginner get?
The best mountain bike for a beginner is a balanced, versatile one. Since you’re probably not tackling steep inclines and declines yet, opt for a trail bike that offers great traction, strong brakes and easy maneuverability along bumpy, muddy trails. That means grippy tires and responsive steering so you can confidently control your bike over tree roots, up hills and on descents.
If the trails you’re eager to go on are largely uphill, look for a bike that’s lightweight with a firmer pedaling platform. Those two features will improve climb efficiency so you’re not wearing yourself out on those uphill stretches.
Do I need a full-suspension mountain bike?
You don’t need a full-suspension mountain bike, but they are nice to have. Unlike hardtail mountain bikes, which only have suspension in the front, full-suspension mountain bikes have suspension in both the front and rear. That extra suspension helps absorb shock, cushioning the impact as you hop over bumps or navigate downhill jumps and drops.
That cushier feel can be nice even on milder trail rides, but they tend to be significantly more expensive and require more maintenance than a hardtail mountain bike. So it might not be worth the extra expense and care if you don’t usually do technical trails or downhill riding.
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