The Truth About Student Loans Before You Sign

2 imagenes, 8 preguntas, 1 definicion, 1 dato, 4 videos, 1 encuesta sobre The Truth About Student Loans Before You Sign en ARTi.

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The truth about student loans before you sign

Imágenes

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dash Loan servicers are third-party companies hired by lenders to manage billing, payments, and customer service.

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Understanding the principal and the interest

dash A loan consists of the principal, which is the borrowed amount, and interest, which is the cost of borrowing.

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Fun Facts

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Fun Fact

Harvard's first loan: In 1838, Harvard University established its first student loan fund, offering small, interest-free loans to students who promised to pay them back after graduation.

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Quizzes

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Quiz

Which component of college expenses typically includes food and housing?

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Quiz

In what year did Harvard University establish its first official student loan fund?

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Quiz

What percentage of the average public college budget did room and board consume in 2023-2024?

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Quiz

In what century did the University of Bologna establish early student aid systems?

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Quiz

Who manages billing and customer service for federal student loans?

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Quiz

Which historical figure established the first scholarship fund at Harvard in 1643?

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Quiz

What is the term for the original amount of money borrowed in a student loan?

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Quiz

What is the extra charge added to a student loan, expressed as a percentage of the principal?

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Glosario

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Glossary

interest rate (noun)
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage. In the United States, federal undergraduate loans disbursed in 2023 carried a fixed 5.50 percent rate.