MILAN — Following the October launch of Grazia Casa, Grazia UK editor Hattie Brett says the magazine is focused on a “dramatic increase in interiors content online at graziadaily.co.uk,” following the all-new annual interiors special’s October launch. The wave of new content, she told WWD, will be amplified as part of its ongoing collaboration with Pinterest.
“When we surveyed our print readers last year, they told us their spending on interiors had dramatically increased. And we see that online, too. Three out of our top 10 revenue-generating affiliate articles this year have been homeware focused,” Brett pointed out. The British edition of the Italian magazine is currently published under license by Bauer Media UK.
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Similarly, Pinterest and Condé Nast Entertainment forged a new content partnership earlier this year.
The Condé Nast Entertainment deal was part of a video and content strategy that Pinterest rolled out more than two years ago, envisaged to channel 160 exclusive videos produced by Vogue and Architectural Digest pegged to feature seasonal and cultural moments, including “Fashion Month,” “Wedding Season,” “Summer” and “Back to School.”
Only available in print, the special is available in newsstands and on Apple News+ until the second half of December. The new annual Grazia Casa issue features former J. Crew president and creative director Jenna Lyons on the cover and aims to bring to the fore how the world’s most fashionable approach homeware. In addition to the feature story on Lyons, the magazine took its readers on a tour of Giorgio Armani’s holiday home on the island of Pantelleria, Italy, and highlighted TV presenter, writer and lifestyle specialist Laura Jackson, who shared her tips on easy entertaining.
Slated to be released on an annual basis, Grazia Casa is packed with fashion insiders’ tips on how to decorate and “deck out” the home.
“The Grazia Casa woman is confident and style-obsessed but time-poor. She looks to Grazia Casa to cut through the noise, delivering news on what’s trending on TikTok (hello, outdoor baths) in our 10 Hot Stories section, and comprehensive edits of the best items to shop now,” Brett reflects.
Research conducted by Grazia found that its audience of AB women are now spending twice as much on interiors a month as beauty, and that its readers are increasingly looking to the publication for recommendations, advice and inspiration for their homes. AB is a classification used by the U.K. census bureau to identify higher and intermediate managerial, administrative and professional occupations. C1 refers to supervisory, clerical, junior managerial, administrative and professional occupations.
The new special offers practical tips for women who are pressed for time, regardless of budget or DIY skills, and includes research into the best products to buy right now as selected by the eye of the Grazia team and interviewees.
Due to the financial challenges created by the COVID-19 pandemic, federal student loan payments were automatically paused from March 2020 to September 2023. During that time, interest didn’t accrue and collections activities were also paused. But now that payments are due again, many borrowers are looking for ways to make their loans more manageable, especially those who are facing ongoing financial hardships.
One option is student loan deferment, which allows you to temporarily pause your student loan payments. As with most financial decisions, there are pros and cons to deferring your student loans. Here’s more information about student loan deferment and what it could mean for your financial future.
What Is Student Loan Deferment?
Deferment is a program that allows you to temporarily stop making payments on your federal student loans or to temporarily reduce your monthly payments for a specified time period.
This is similar to another option known as forbearance. However, unlike forbearance, you may not be charged interest while your loan is in deferment. According to the Department of Education, if you hold one of the following types of loans, you will not be responsible for paying interest on your loan while it is in deferment:
• Direct Subsidized Loan
• Subsidized Federal Stafford Loan
• Federal Perkins Loan
• The subsidized portion of a Direct Consolidation Loan
• The subsidized portion of a Federal Family Education Loan (FFEL) Consolidation Loan
If you have one of the following types of loans, you will be responsible for paying the accrued interest on your loan while it is in deferment:
• Direct Unsubsidized Loan
• Unsubsidized Federal Stafford Loan
• Direct PLUS Loan
• FFEL PLUS Loan
• The unsubsidized portion of a Direct Consolidation Loan
• The unsubsidized portion of a FFEL Consolidation Loan
If you are responsible for paying interest on your student loans while they are in grad school deferment, you have two options: 1) you can make interest-only payments on the loans while they are in deferment; 2) if you choose not to make these interest-only payments, the accrued interest will capitalize (be added to the loan principal) when the deferment period is over. 💡 Quick Tip: Ready to refinance your student loan? With SoFi’s no-fee loans, you could save thousands.
How Do You Qualify for Student Loan Deferment?
In order to qualify for student loan deferment, you must meet one of the following requirements:
• You’re enrolled at least part-time at a qualifying university
• You’re unemployed or unable to find employment (for up to three years)
• You’re experiencing an economic hardship
• You’re currently volunteering in the Peace Corps
• You’re on active-duty military service (or are in the 13 months following that service)
• You’re in an approved graduate fellowship program
• You’re in an approved rehabilitation program (for disabled students)
Requesting a Deferment
If you’re interested in deferring student loans to go back to school, you’ll need to apply for an in-school deferment. Most likely, you will request the deferment directly through your loan servicer—there is usually a form for you to fill out. When you request a deferment, you’ll also need to provide some sort of documentation to prove that you qualify for a deferment.
If you are enrolled in an eligible college or career school at least half-time, may be placed in deferment automatically . If it is, your loan servicer will notify you that deferment has been granted. If you enroll at least half-time and do not automatically receive a deferment, you will need to contact the school in which you are enrolled. The school will then send the appropriate paperwork to your loan servicer, so that your loan can be placed in deferment.
Pros and Cons of Student Loan Deferment
The biggest benefit of student loan deferment is the ability to temporarily postpone student loan repayment. As of the first quarter of 2023, 2.8 million loans were in deferment.
If you are deferring for extreme financial hardship, deferment allows you to free up money to pay off bills that require immediate attention like rent or electricity.
For students who have qualified for deferment through community service, like a stint in the Peace Corps, deferment gives them the opportunity to serve their community without any added stress from student loan payments.
While temporarily pausing loan repayment may seem like a blessing, it can come at a cost, especially if your student loans are not subsidized by the government. When in deferment, interest continues to accrue on your loan. And at the end of your deferment period, that interest will be capitalized on the loan. (This means that the accrued interest will be added to the principal balance of the loan. So ultimately, you’ll be paying interest on top of interest.)
This can mean you end up paying even more money over the life of the loan. To see how much deferring your student loans could cost, you can use an online calculator to get an estimate of how much interest will accrue while the loan is in deferment.
The Pros and Cons to Student Loan Refinancing
If you have private loans that aren’t eligible for federal student loan deferment, refinancing your student loans is another option to consider. You may also want to think about refinancing when you’re done with your graduate degree to pay off your loans at a potentially lower interest rate.
When you refinance, your existing student loans are paid off with a new loan from a private lender. If you are refinancing private loans before going back to graduate school, you may be after a lower monthly payment, which you could potentially qualify for when refinancing your loans and extending the loan term. (You may pay more interest over the life of the loan if you refinance with an extended term.)
Alternatively, if you’re looking to refinance after graduate school, you could potentially qualify for a lower interest rate, which could reduce the amount of money you spend over the life of the loan. The lender will use your credit score and earning potential to determine what interest rate you’ll qualify for. And thanks to your new graduate degree, you could have significantly increased your earnings.
Another big benefit of student loan refinancing? You’re able to combine all of your student loan payments – for both federal and private loans – into one easy-to-manage payment.
If you hold only federal student loans, however, you could look into a Direct Consolidation Loan , which allows you to consolidate federal loans into one loan with a single monthly payment. The new interest rate will be the weighted average of your current interest rates (rounded to the nearest one-eighth of 1%), so unlike refinancing, when you consolidate your student loans, you won’t necessarily qualify for a lower interest rate.
If you are taking advantage of your federal loans’ flexible repayment plans or student loan forgiveness programs (or if you are planning to do so), refinancing might not be the best option for you. A major con of student loan refinancing is that you’ll lose access to federal loan benefits when refinancing with a private lender—including deferment and income-driven repayment plans.
Refinancing Your Loans with SoFi
Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.
With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.
Student Loan Refinancing If you are a federal student loan borrower you should take time now to prepare for your payments to restart, including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. (You may pay more interest over the life of the loan if you refinance with an extended term.) Please note that once you refinance federal student loans, you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans, such as the SAVE Plan, or extended repayment plans.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Are you thinking about selling your engagement ring? People sell their engagement rings for all sorts of reasons, such as no longer being in a relationship or inheriting a ring. Whatever your reason may be, you can most likely sell your engagement ring and make extra money. You can use this extra money towards paying…
Are you thinking about selling your engagement ring?
People sell their engagement rings for all sorts of reasons, such as no longer being in a relationship or inheriting a ring.
Whatever your reason may be, you can most likely sell your engagement ring and make extra money.
You can use this extra money towards paying off debt (like credit card debt or student loans), starting an emergency fund for unexpected expenses (like medical bills, vet visits, or house repairs), putting the money into your retirement savings, or even saving for financial goals (like a home deposit, buying a car, or going back to school).
Today, you’ll learn how to:
Get your engagement ring appraised
Negotiate for the highest price
Find the best place to sell your engagement ring
And, of course, the step-by-step process of how to sell an engagement ring!
How To Sell An Engagement Ring
How much is an engagement ring worth?
Before you sell your engagement ring, you should try and figure out how much it is worth.
One of the things to think about when valuing a diamond engagement ring is the “4 Cs of a Diamond.” If you want to know where to sell diamond rings, first you must figure this out.
The 4 Cs stand for:
Carat – This is the size of the diamond. Larger diamonds are usually worth more money.
Cut – This is not the diamond shape. Instead, this is the quality of the diamond’s cut which will impact how beautiful and brilliant the diamond is.
Color – A diamond’s value increases with less color, as a completely colorless diamond is worth more.
Clarity – Clarity is all about the imperfections and blemishes that a diamond may have. The fewer there are, the more valuable the diamond.
Other things that may increase or decrease the value of your used engagement ring include:
Condition – The overall condition of the ring is important. A ring that has been taken care of and shows minimal signs of use will typically hold onto more of its value in comparison to a ring that displays noticeable wear and tear.
Resale market – Rings with a popular style or from a well-known designer may see a higher price when resold.
Certification and documentation – Having a document such as a diamond grading certificate can help determine the quality of the ring.
Designer and brand name – Rings from certain designers or brands (such as Cartier or Tiffany & Co.) tend to have a higher resale value due to their reputation and craftsmanship.
Even though a pre-owned engagement ring may have a lower value compared to a new one, it can be a great value for buyers looking for a high-quality ring at a more budget-friendly price. And, that is why people buy them – they can save some money over a new ring.
Recommended reading: 8 Items To Sell Around Your Home For Extra Money
Gather documentation for your engagement ring
If you’ve decided to sell your engagement ring, it’s time to collect all of your paperwork related to the ring such as the diamond’s certification, receipts, and appraisals.
These documents will help figure out the ring’s value, establish its authenticity, and make the process of selling a little more smooth.
Here’s a list of the paperwork you might need:
Appraisal certificate – The appraisal certificate is a professional evaluation of the engagement ring. This document includes details about the diamond’s cut, color, clarity, carat weight, and quality.
Original receipt – Having the original receipt from the purchase of the engagement ring will help show that the ring is authentic.
Diamond certification – If the diamond was graded and certified by a recognized gemological laboratory, this can be helpful.
Gemstone certificates – If your engagement ring has other gemstones besides diamonds, include these certificates for the stones as well.
You don’t need any paperwork to sell an engagement ring, but, it can make things a little easier and may get you a little more money.
How to get an engagement ring appraised
Getting an engagement ring appraised by a certified gemologist or jewelry appraiser will give you an accurate estimate and valuation of how much your engagement or wedding ring is worth.
This can help you when negotiating (such as with a pawnshop) and simply knowing the amount that you should be looking for when selling your ring.
You can get your engagement ring appraised by:
Looking for appraisers – You can search online for certified gemologists or jewelry appraisers in your area. You can also ask local jewelry stores for their recommended appraisers. It’s important to find an appraiser with credentials from places such as the Gemological Institute of America (GIA), the American Gem Society (AGS), or the International Society of Appraisers (ISA).
Contacting the appraiser – Call the appraiser and ask for their fees and to schedule an appointment. You may need to bring documents such as receipts, certificates, or previous appraisals for the ring.
Getting the ring appraised – Take the engagement ring to the appraiser. They will examine the engagement ring’s characteristics including the diamond’s cut, color, clarity, and other important factors.
Receiving the appraisal report – Once the appraisal is done, the appraiser will provide you with the report. This report includes information about the ring’s characteristics as well as an estimated value based on the current market. Ask the appraiser any questions you might have or if you need a question answered.
Where to sell an engagement ring
Now is the time to look at your different options for selling the ring. You can sell engagement rings at jewelry stores, pawn shops, online marketplaces, auction houses, consignment shops, and more.
Some things that you will want to about when deciding where to sell your engagement ring include the amount that they are giving you (of course, you want the most money, right?), the fees that they may be charging to sell your ring, how much work it will take you to sell it (for example, do you have to create the listing or do they?), whether you feel safe meeting someone to exchange the ring for cash in-person, and more.
As you can see, there are going to be pros and cons for each of the places where you can sell your jewelry.
Below, I go further into each of the best places to sell an engagement ring:
1. Sell your engagement ring online in a marketplace
If you want to sell your engagement ring, one of the best ways to get the most money for it is to sell it online.
Selling your engagement ring online can be convenient and also help you reach a wider audience of possible buyers.
Some of the different places you can sell an engagement ring online include eBay, Facebook Marketplace, and Craigslist.
Here’s a step-by-step guide to help you sell your engagement ring online:
Make your ring presentable – You should clean your ring and take quality photos of it from different angles.
Choose the marketplace – There are many different sites to sell your engagement ring like eBay, Craigslist, Facebook Marketplace, specialized jewelry-selling websites, or online auction sites.
Create a detailed listing – In the listing, write a detailed description of the ring along with its condition and any unique features. Be honest about any imperfections. When listing your ring for sale, you should also describe the ring, such as the diamond’s cut, color, clarity, and carat weight.
Set a price – You should research similar engagement rings or get your ring appraised to find the most accurate price based on current market value.
Shipping – If you’re shipping the ring, make sure to package it securely to prevent any damage in transit and also pay for shipping insurance.
2. Sell your engagement ring on Worthy
Similar to the above, some websites are dedicated to selling jewelry and valuables, such as Worthy.
Worthy does not buy your engagement ring directly as that is not their business model, but they will clean it up and sell it for you.
Worthy makes it really easy to make money with your engagement ring and this is the best place to sell engagement rings online. You simply ship your jewelry to their office with a prepaid shipping label (a FedEx label) that they give you (it’s insured as well). Then, once they get the ring, they prep it for auction. They will clean the ring, take professional photos of it, and grade it.
After that, your ring will go up for auction, and professional jewelry buyers can bid on it. You can set a reserve price that you are comfortable with. Once the auction is done, you will receive the final sale amount after Worthy’s fee. Payment is then sent to you within 1-5 days.
The whole process typically takes around 2 weeks from shipping to getting paid.
So, what are Worthy’s fees? They do almost all of the work for you, so it makes sense that they would charge a fee. They take 18% for up to $5,000. After that, it is a 14% fee for $5,001 to $15,000, a 12% fee for $15,001 to $30,000, and a 10% fee for over $30,000.
So, for example, I found a 1-carat diamond ring on Worthy that eventually sold for $2,792. That means the seller received around $2,289 after the 18% fee that Worthy charges.
3. Work with a jeweler
Jewelers may offer to buy your engagement ring. You can simply call around local jewelry stores near you and ask if they buy used engagement rings.
Sometimes this can be the most straightforward and convenient option for selling your engagement ring as you can possibly sell your ring the same day.
To sell your engagement ring to a jeweler, you will want to look for jewelry stores near you and give them a phone call to see if they buy used engagement rings. I recommend looking for ones with positive reviews.
If you have any documentation for your ring then make sure to bring it with you so that you can show the jeweler.
If they are interested in your engagement ring, then they will give you an offer. If you’re happy with the offer, then you can ask any other questions and possibly sign paperwork to get your cash.
Jewelers may offer instant payment either via cash, check, or electronic transfer and you will want to confirm the payment method before completing the sale.
4. Sell your engagement ring to a consignment shop
You may decide you want to sell your used engagement ring to a consignment shop. Consignment shops have benefits such as offering exposure to multiple buyers. However, they likely charge a commission fee.
To sell your engagement ring through a consignment shop, you will want to Google search for consignment shops in your area and specifically look for shops that sell jewelry or high-end items (make sure the shop has good reviews and even testimonials of previous successful sales of engagement rings).
Once you have an idea of which consignment shops you’re interested in selling your ring at, you should ask them questions about their consignment process, what commission rate they charge, and the terms of the sale.
Then, you’ll give the shop the ring to display in their store.
The consignment shop handles the transaction if someone is ready to buy the ring. You’ll receive payment after the commission fees are taken out.
5. Sell your wedding ring to a pawnshop
When people think about where to sell an engagement ring, one of the first places they think about is probably a pawn shop.
And, it makes sense – pawn shops make it very easy and you can sell your engagement ring for cash here. You can most likely even get paid on the same day!
But, you should keep in mind that they usually give you the lowest amount of money.
If you want to sell your old wedding ring to a pawn shop you will first want to make sure the ring looks nice and clean because that can help you get a better price. Get any papers you have about the ring, like appraisals or certificates, to show how much it’s worth, and make sure you know this number before you go in because you will most likely have to negotiate.
Now, when selling at a pawn shop, you can typically negotiate. To do so, you will want to find out the ring’s value, current market trends, and comparable sales. You can even make a better case for your price by showing documents on the ring and appraisals from certified gemologists. If the pawn shop cannot meet that price, you may just want to move on and try to find another buyer.
When the pawn shop makes an offer, remember they need to make a profit too, so it might be lower than you expect. If you’re not happy with the offer, you can try selling it to someone else. If you agree to sell it, you’ll need to show some ID, sign some papers, and then you’ll get paid.
Frequently Asked Questions
Below are answers to common questions about how to sell an engagement ring.
Is it possible to sell an engagement ring?
Yes! Many places buy engagement rings and wedding rings so that you can make money.
How much can you get for selling your engagement ring?
The amount of money that you can get for selling your engagement ring will vary and usually, you can earn anywhere from around 20% to 60% of what was originally paid for it. Yes, this is a wide range (and can mean a difference of hundreds or even thousands of dollars) and this is because there are so many factors that come into the price, such as the condition of the ring, the market demand, and where you decide to sell it.
How much can I sell my 1 carat engagement ring for?
A 1-carat diamond engagement ring will vary due to the 4C’s (cut, clarity, color, and carat). Usually, you can earn around $1,000 to $5,000 for selling a used engagement ring that is 1 carat.
Is it better to sell or pawn an engagement ring?
This depends – do you want to get the ring back? If you decide to sell it, you can get cash right away. This is a good option if you need money quickly.
On the other hand, if you decide to pawn it, the ring can be used as collateral for a loan. This can be a temporary solution if you just need cash right now but you want to get the ring back later. However, it’s very, very important to carefully read and understand the terms and interest rates from the pawnshop so that you can eventually get your ring back.
Why is the resale value of diamonds so low?
So, you may be thinking “But, I paid $10,000 for this ring! Why am I only getting a few thousand dollars?”
You most likely won’t get the same price that the engagement ring was bought for. This is because places that buy your engagement ring still need to make a profit. Plus, they aren’t going to sell the engagement ring for the same price as a brand-new ring.
How can I be safe when selling a ring?
If you aren’t shipping the ring but are meeting in person instead, then you must be careful. You should avoid sharing personal information until you’re 100% sure they are the person they say they are.
I also highly recommend meeting in a public place, such as a police station parking lot. Bringing a family member or friend with you to the appointment or meeting is good so that you aren’t alone. Make sure to use secure payment methods like cash and do not share bank account information, your social security number, or any other sensitive information (buyers do not need this information!!). Also, ignore requests to send the ring before receiving payment and make sure the payment has cleared before proceeding.
Where to sell my wedding ring after a divorce? Is it OK to sell a wedding ring after divorce?
Many people sell their wedding rings after a divorce. If you decide to do so, you can sell your wedding ring on sites like Worthy, Facebook, eBay, and more. Before you sell your engagement ring, though, you should make sure that the ring is legally yours (check your divorce agreement).
How long does it take to sell an engagement ring?
The amount of time that it takes you to sell an engagement ring depends on where you are selling it. For example, selling a ring on Worthy will take around 2 weeks (it takes a little longer to sell on Worthy, but you may get the best price for your diamond jewelry this way because they have many diamond buyers). Whereas, selling it to a pawn shop may mean that you get paid the same day (however, it’s typically for a lot less money).
What is the best way to sell an engagement ring?
The best way to sell your engagement ring depends on what you’re looking for and there is no one best answer for everyone. Do you want to sell your ring for the most money? Or, do you want to sell your engagement ring as fast as you can? Some people may want to just sell the ring to a pawn shop and get it over with. Others may want to take their time and sell it online so that they can get the most money.
How To Sell An Engagement Ring For The Most Money
I hope you enjoyed this article on how to sell your engagement ring for the most money.
Deciding to sell an engagement ring is a big decision to make as you may have an emotional connection to it. Due to this, you should take your time deciding what to do and choose the option that feels best for your situation.
Some of the best places to sell diamond rings include online (such as through Worthy or eBay), or in-person at a consignment shop or to a local jeweler. Many of the places above can be used for selling other pieces of jewelry as well, such as fine jewelry, bracelets, necklaces, earrings, and more.
Each place has its pros and cons. Some will pay you a lot more than others, but some may be much easier and quicker.
I hope you can find the best place to sell your engagement ring and that you get the most money!
Have you tried selling an engagement ring? What do you think is the best place to sell an engagement ring?
Students want to see one word when they get letters from their prospective colleges: accepted. Unfortunately, that likely isn’t going to be the result every time. Some students will end up on the college waitlist, but that doesn’t mean they won’t be accepted eventually.
Being waitlisted is not the same as being rejected. There’s still a possibility of getting accepted and attending that dream school.
So what does it mean to be on a college waitlist? It means you’re still up for consideration based on how many spaces are left after decision day. Getting accepted from the waitlist depends on how many accepted students choose to attend the school.
Decision day is May 1, when incoming freshmen are required to notify schools whether they will be attending or not. If not enough students accept their invites for schools to meet enrollment numbers, then students on the waitlist will be reevaluated and potentially accepted.
There’s no guarantee that accepting a spot on the waitlist will lead to being admitted, but that doesn’t mean you should give up. There are still things you can do to boost your chances.
Waitlisted or Deferred?
In some cases, a student may receive a letter saying they’ve been deferred rather than being put on the waitlist. So what’s the difference? A deferral usually involves students who applied for early action or early decision. These applications are generally turned in during November of senior year.
If a student applies via early action or decision and they receive a deferral, that means they have not yet been accepted but their application has been changed to regular decision. The application will be reviewed again during the regular decision time frame.
A deferral is different from a waitlist, but students who have been deferred generally want to take the same actions as those who have been waitlisted to better their chances of admission. 💡 Quick Tip: You’ll make no payments on some private student loans for six months after graduation.
What to Do When You Get Waitlisted
Students who have been waitlisted but still want to attend the school must first do one thing: Accept their position on the waitlist.
If you neglect to contact the school and accept your position, you’ll be removed from the list and won’t be considered for admission if there are spots left after decision day.
Once you’ve accepted your spot on the waitlist, there are a few steps you can take that may better your chances of being accepted. Here’s a close look.
Contact Admissions
When you receive a letter informing you that you’ve been waitlisted, there might be some instructions included. First and foremost, it’s a good idea to follow them.
Next, it’s often recommended that students contact admissions with a letter to further stress their commitment to attending the school. The letter should detail why you want to attend that school and why you believe that school is the best fit for you. You might also want to ask that the letter be kept in your file along with your other application materials.
Request an Interview
Asking for an interview can be helpful in getting off the waitlist. Meeting with someone in person may make you more memorable when it comes time to accept applicants from the waitlist.
If you already did an interview, it’s okay to request another one after receiving a waitlist decision. A second interview provides the chance to reinforce your commitment to the school and add any recent accomplishments to the conversation. This can be a great time to bring up anything special you have achieved during the spring semester.
Reserve a Spot at Your Second Choice
Even though it can be discouraging, it’s highly recommended that students who’ve been waitlisted for their first-choice school put a deposit down for their next-best option. Putting a deposit down on another school isn’t giving up on your dream school; it’s just an important safety net to ensure you have somewhere to attend.
Some students may opt to take a “gap year” if they don’t make it into their school of choice. This choice is highly personal, though, and there isn’t a clear recommendation on how beneficial or harmful it is. Some students may find a gap year useful and productive, while others may find that it deters them from going back to school on time.
Anyone committed to attending college in the fall will likely find it a smart move to put a deposit down on their second- or even third-place school, and then continue working on getting accepted off the waitlist for their first choice.
Retake Tests
Students who did not score well on the SAT or ACT may want to consider retaking those tests if they’ve been waitlisted. Before you do that, however, it’s a good idea to contact the college to make sure it’s willing to accept additional application information. If the school will accept it, and you think you can get better scores, it could be helpful to go ahead and retake the tests.
Most colleges will accept scores from either test, but it’s best to check with each school to be sure. Both tests have a similar goal, testing for college readiness, but they vary slightly in timing and types of questions asked.
If you need to improve your test scores but have limited time or money, it may help to research the difference between the two tests and take the one you feel you can perform better on. Taking practice tests can also help you determine which test suits you better. Many students do take both tests, so that is an option as well.
Recommended: Do Your SAT Scores Really Matter for College?
Don’t Give Up
Make the end of senior year impressive. Don’t let that waitlist cause discouragement. If you truly want to make it off the waitlist, you’ll want to work even harder at the end of your senior year. Senior grades can still affect admissions, so keeping them high may help those who are on the waitlist.
If you still don’t get accepted to your dream school, it doesn’t mean you have to give up. Even if you’re not accepted from the waitlist, there are still a couple of options. You can accept admission from a different school and aim to transfer to your dream school after one to two years. This allows time to earn good grades, get the necessary credits, then transfer.
If your plan is to transfer schools, however, you’ll want to work closely with your counselor to make sure you’re taking the correct courses and carefully consider your choice of major, since not all credits will transfer to all schools. 💡 Quick Tip: Would-be borrowers will want to understand the different types of student loans that are available: private student loans, federal Direct Subsidized and Unsubsidized loans, Direct PLUS loans, and more.
Ready to Start. What’s Next?
Whether you make it off the waitlist and get into your dream school or choose to accept admission at your second choice, you’ll be faced with tuition. So how to cover the cost? Tuition, fees, books, food, plus all the other costs of living… it adds up quickly.
Luckily, there are resources available to help students finance their college education. The first step for most should be filling out the Free Application for Federal Student Aid (FAFSA). The application will determine eligibility to receive federal aid. The eligibility for undergraduates to receive aid is most often based on their parents’ income. This process will inform students of how much federal aid they can receive, and what kind.
Federal aid can come in the form of grants, loans, and work-study. Grants don’t need to be repaid (unless you withdraw from school and owe a refund), but loans do. Federal loans come with some benefits that students won’t get with private student loans, including income-driven repayment plans and potentially lower interest rates.
Another option for funding the college experience is a private scholarship. There are a wide variety of scholarships available, with different eligibility requirements for each one. Some scholarships are need-based; some are merit-based.
If you can’t finance college completely with federal aid and scholarships, private student loans are also available. The eligibility for private student loans is usually based on the student’s (or cosigner’s) income and credit history. Rates and terms vary by lender, so it’s important for students to research their options before making a choice.
If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.
Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
SoFi Private Student Loans Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
With mass student loan forgiveness blocked by the Supreme Court, you may be curious about what other forgiveness or deferment options are available for students with federal — or private — student loans.
Federal loans do allow you to stop or reduce your payments in some circumstances, such as financial hardship, for up to three years — which is known as deferment. Deferment on private student loans varies by lender, and not all lenders offer it.
One thing you generally don’t want to do — simply stop making payments on your student loan. Whether your loans are federal or private, this puts you at risk of default, which can have a number of negative consequences.
Read on to learn more about student loan deferment, including what it is, how it works, its pros and cons, plus some alternative ways to get student debt relief.
Student loan deferment allows qualified applicants to reduce or stop making payments on their loans for up to three years. If you have a subsidized federal loan, no interest accrues during the deferment period. If you have an unsubsidized federal loan, interest will accrue and will be added to the loan amount (or capitalized) at the end of the deferment period.
Deferments are available on federal loans including Direct Loans, FFEL Program loans, and Perkins Loans.
Private student loans may or may not offer deferment options to borrowers. If you have questions about your private student loan, you’ll want to check in with your lender directly.
If you have a federal student loan and are no longer in school at least half-time, you will need to apply to defer payments on your student loan. This usually involves submitting a request to your student loan servicer. You will also likely need to provide documentation to show that you meet the eligibility requirements for the deferment (more on eligibility requirements below).
If you have an unsubsidized federal student loan and are granted deferment, interest will continue to accrue during the deferral period. You will have the option to either pay the interest as it accrues or allow it to accrue and be capitalized (added to your loan principal balance) at the end of the deferment period.
Deferments are available on federal loans including Direct Loans, FFEL Program loans, and Perkins Loans.
If a private lender offers deferment, they will likely have their own forms and requirements.
Applying for deferment may make sense if you are facing short-term difficulty paying your student loans, since a deferment can provide you with the opportunity you need to stay afloat financially. And, if you have a subsidized loan, deferment won’t make your loan any more expensive in the long run.
If you’re able to stay on top of your loan payments, then deferment likely doesn’t make sense. If you think that you may have long-term difficulty making your monthly loan payments, deferment may not be the best option either.
If you have an unsubsidized federal loan, interest will continue to accrue during deferment. At the end of the deferment period, this interest will be capitalized on the existing loan amount (or the principal loan value). Moving forward, interest will be calculated based on this new total. So essentially, you are accruing interest on top of interest, which can significantly increase the amount of interest owed over the life of the loan.
Pros and Cons of Student Loan Deferment
Student loan deferment can help borrowers who are struggling financially, but it may not be the right choice for everyone. Here are some pros and cons to consider when evaluating deferment options for federal student loans.
Pros
Cons
Borrowers are able to temporarily suspend or lower the monthly payments on their student loans.
On most federal student loans, interest continues to accrue. This may significantly increase the total cost of borrowing over the life of the loan.
Borrowers may qualify for deferment for periods of up to three years.
Because interest may continue to accrue during deferment, other options like income-driven repayment plans, may be more cost- effective in the long term.
Types of Student Loan Deferment
For federal student loans, there are a few different deferment options . Here are the details on some of the most common reasons borrowers apply for deferment.
In-School Deferment
Students who are enrolled at least half-time in an eligible college or career program may qualify for an in-school deferment. If you are enrolled in a qualifying program at an eligible school, this type of deferment is generally automatic. If you find the automatic in-school deferment doesn’t kick in when you are enrolled at least half-time in an eligible school, you can file an in-school deferment request form .
Unemployment Deferment
Those currently receiving unemployment benefits, or who are actively seeking and unable to find full-time work, may be able to qualify for unemployment deferment. Borrowers can receive this deferment for up to three years.
Economic Hardship Deferment
This type of deferment may be an option for those borrowers who are receiving merit-tested benefits like welfare, who work full time but earn less than 150% of the poverty guidelines for your state of residence and family size, or who are serving in the Peace Corps.
Economic hardship deferments may be awarded for a period of up to three years.
Military Deferment
Members of the U.S. military who are serving active duty may qualify for a military service deferment. After a period of active duty service, there is a grace period in which borrowers may also qualify for federal student loan deferment.
Cancer Treatment Deferment
Individuals who are undergoing treatment for cancer may qualify for deferment. There is also a grace period of six months following the end of treatment.
Other Types of Deferment
There are other situations and circumstances in which borrowers might be able to apply for deferment. Some of these include starting a graduate fellowship program, entering a rehabilitation program, or being a parent borrower with a Parent PLUS Loan whose child is enrolled in school at least half-time.
Consequences of Defaulting on Federal Student Loans
If you simply stop making payments as outlined in your loan’s contract, you risk defaulting on your student loan. Default timelines vary for different types of student loans.
Most federal student loans enter default when payments are roughly nine months, or 270 days, past due. Federal Perkins loans can default immediately if you don’t make any scheduled payment by its due date.
• Immediately owing the entire balance of the loan
• Losing eligibility for forbearance, deferment, or federal repayment plans
• Losing eligibility for federal student aid
• Damage to your credit score, inhibiting your ability to qualify for a car or home loan or credit cards in the future
• Withholding of federal benefits and tax refunds
• Garnishing of wages
• The loan holder taking you to court
• Inability to sell or purchase assets such as real estate
• Withholding of your academic transcript until loans are repaid
Consequences of Defaulting on Private Student Loans
The consequences for defaulting on private student loans will vary by lender but could include repercussions similar to federal student loans, and more, including:
• Seeking repayment from the cosigners of the loan (if there are any cosigners)
• Calls, letters, and notifications from debt collectors
• Additional collection charges on the balance of the loan
• Legal action from the lender, such as suing the borrower or their cosigner
To avoid these negative consequences, one option for borrowers struggling to pay federal student loans is deferment.
Who Is Eligible for Student Loan Deferment?
To be granted a deferment on federal loans, borrowers need to meet certain criteria.
You may be eligible if you’re:
• Enrolled at least part-time in college, graduate school, or a professional school
• Unable to find a full-time job or are experiencing economic hardship
• On active military duty serving in relation to war, military operation, or response to a national emergency
• In the 13-month period following active duty
• Enrolled in the Peace Corps
• Taking part in a graduate fellowship program
• Experiencing a medical hardship
• Enrolled in an approved rehabilitation program for the disabled
Borrowers who re-enroll in college or career school part-time may find that their federal student loans automatically go into in-school deferment with a notification from their student loan provider.
Loans may also keep accruing interest during deferment — depending on what kind of federal student loans the borrower holds. Borrowers are still responsible for paying interest if they have a:
• Direct Unsubsidized (Stafford) Loan
• Direct PLUS Loan
If you don’t pay the interest during the deferment period, the accrued amount is added to your loan principal, which increases what you owe in the end.
Recommended: Student Loan Deferment in Grad School
What if You Have Private Student Loans?
Private lenders aren’t required to offer deferment options, but some do. For example, some might allow you to temporarily stop making payments if you:
• Lose your job
• Experience financial hardship
• Go back to school
• Have been accepted into an internship, clerkship, fellowship, or residency program
• Face high medical expenses
Typically, even while a private student loan is in deferment, the balance will still accrue interest. This means that in the long term, the borrower will pay a larger balance overall, even after the respite of deferment.
In most cases, even with accrual of interest, deferment is preferable to defaulting. Borrowers with private loans could contact the lender to ask what options are available.
The Limits of Student Loan Deferment
Keep in mind that deferment is not a panacea. By definition, it’s temporary. Federal student loan borrowers will ultimately need to go back to making payments once they are no longer deferment-eligible. For example, a borrower’s deferral might end if they leave school, even if their ability to pay has not improved.
Federal loans can only be deferred due to unemployment or financial hardship for up to three years. With private loans, there may not be an option to defer at all, and if it is an option, the limit may be no more than a year.
Other Options for Reducing Federal Student Loan Payments
Besides student loan deferment, you have other choices if you can’t afford the total cost of your monthly payments. Here’s a look at some alternatives to deferment.
Income-Driven Repayments
For a longer-term solution, you may want to consider signing up for an income-driven repayment plan.
If you qualify, you may be able to reduce your monthly payment based on your income. Enrolling in an income-driven repayment plan won’t have a negative impact on your credit score or history. On certain income-driven repayment plans, student loan balances can be forgiven after 20 or 25 years, depending on the payment plan that the borrower is eligible for.
With an income-driven repayment plan, your monthly payment is based on your total discretionary income. That means if you change jobs, or see a significant increase in your paycheck, you’ll be expected to pay a higher monthly bill on your student loan payment.
Forbearance
Student loan forbearance is another way to suspend or lower your student loan payments temporarily during times of financial stress, typically for up to 12 months. Generally, forbearance is not as desirable as deferment, since you will be responsible for accrued interest when the forbearance period is over no matter what type of federal loan you have.
When comparing deferment vs. forbearance, you’ll want to keep in mind that there are two types of forbearance for federal student loan holders: general and mandatory.
General student loan forbearance is sometimes called discretionary forbearance. That means the servicer decides whether or not to grant your request. People can apply for general forbearance if they’re experiencing:
• Financial problems
• Medical expenses
• Employment changes
General forbearance is only available for certain student loan programs, and is only granted for up to 12 months at a time. At that point, you are able to reapply for forbearance if you’re still experiencing difficulty. General forbearance is available for:
• Direct Loans
• Federal Family Education Loan (FFEL) Program loans
• Perkins Loans
Mandatory forbearance means your servicer is required to grant it under certain circumstances. Reasons for mandatory forbearance include:
• Serving in a medical residency or dental internship
• The total you owe each month on your student loan is 20% or more of your gross income
• You’re working in a position for AmeriCorps
• You’re a teacher that qualifies for teacher student loan forgiveness
• You’re a National Guard member but don’t qualify for deferment
Similar to general forbearance, mandatory forbearance is granted for up to 12 month periods, and you can reapply after that time.
Another Option to Consider: Refinancing
Depending on your personal financial circumstances, another long-term solution could be student loan refinancing. This involves applying for a new loan with a private lender and using it to pay off your current student loans. Qualifying borrowers may be able to secure a lower interest rate or the option to lengthen their loan’s term and reduce monthly payments. Note that lengthening the repayment period may lower monthly payments but will generally result in paying more interest over the life of the loan.
Refinancing could be a good option for borrowers with strong credit and a solid income, among other factors. Unlike an income-driven repayment plan, your monthly payment wouldn’t change based on your income. If you aren’t able to qualify for student loan refinancing on your own, you may be able to apply for refinancing with a cosigner.
Either way, you’ll want to keep in mind that refinancing federal student loans with a private lender means you no longer have access to any federal borrower protections or payment plans. So, if you are taking advantage of things like income-driven payment plans or deferment, you likely don’t want to refinance. But for other borrowers, student loan refinancing might be a useful solution.
If you have more than one student loan, refinancing could also simplify your repayment process.
The Takeaway
If you take out a federal student loan and at some point need to pause or reduce your payments, you may be able to qualify for deferment, forbearance, or an income-driven repayment plan. Each option has its pros and cons.
If you’re considering a private student loan (or refinancing your federal loans), keep in mind that private loans don’t come with government-sponsored protections like forbearance and deferment don’t apply. However, private lenders may offer hardship and deferment programs of their own.
If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.
Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.
Deferment FAQ
How long can you defer student loans for?
Depending on the type of deferment you are enrolled in, federal loans can be deferred for up to three years. Private student loans may not offer an option to defer payments, and if they do, the limit will be set by the individual lender.
Why would you defer student loans?
Deferment can be helpful if you are facing a temporary financial hurdle, because they allow you to pause or reduce your payments for a period of time.
Are there any reasons not to defer student loans?
Most loans will continue to accrue interest during periods of deferment. When the deferment is over, this accrued interest is then capitalized on the loan. This means it’s added to the existing value of the loan. Moving forward, interest is charged based on this new total. This can significantly impact the total amount of interest that a borrower has to pay over the life of a loan.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
SoFi Private Student Loans Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
There are certain aspects of personal finance that I’ve never had to deal with. Student loans are one of these. But student loans are a huge concern for many people. This guest-post from SJean is an introduction to repaying these debts.
There are really two things to know about student loans: How to get them, and what to do when you have to start paying them back. I’m going to write about the latter, as I am more experienced with that aspect. It seems everyone can figure out how to get student loans (whether or not they are getting the best deal), but paying them back can be more confusing.
Most federal student loans come with a grace period of six months during which you are not required to make payments. That means if you graduated in May of this year, your grace period is coming to a close and you have some decisions to make.
What do I owe? The first step is to find out how much you owe and to whom. Your financial aid office can help you with this, as can this site.
There are three major types of federal loans you may have: Federal Subsidized Stafford, Federal Unsubsidized Stafford, and the Federal Perkins loan. Some people may also have private loans, which I’ll cover at the end of this article. (They’re a different beast than federal loans.) For now, let’s focus on the federal loans. According to the U.S. government’s Student Aid site:
During the grace period on a subsidized loan, you don’t have to pay any principal, and you won’t be charged interest. During the grace period on an unsubsidized loan, you don’t have to pay any principal, but you will be charged interest. You can either pay the interest or it will be capitalized (added to your principal loan balance, thus increasing the amount you’ll repay).
Can someone PLEASE make these go away? You may feel overwhelmed by your loans and wish that they would just go away. Actually, there are a few ways that they can be diminished without you paying them, but these are special cases. Most of us are going to pay back every dollar we borrowed. And more.
If you are interested in volunteer work, check out the benefits provided by joining the Peace Corps or AmeriCorps. (For strictly financial reasons, you are probably better off getting a job and paying back the loans, but there are other reasons you may want to consider volunteering). If you are planning to be a teacher, join the military, or work in the legal or medical profession, there are some loan forgiveness programs you might be able to take advantage of.
Other than that, your student loans are going to be with you until you pay them back. Even bankruptcy will not destroy them. (But if you die, they are forgiven.) If your best shot of getting out of your loans is death, you probably should start working on a plan to repay them.
Consolidation: What is it? Consolidating your federal student loans may lower your total monthly payment, but note this is primarily because you are extending the terms of your loan and paying more interest in the long run. If you can afford your monthly payment, and would rather not have a loan for 20 years, you still should consider consolidation. You also can stick with a standard repayment if you know you can afford it and don’t think you are disciplined enough to make extra payments. There are no prepayment penalties in consolidation loans and there are a lot of benefits.
Consolidation: Can I consolidate? Before you concern yourself with whether you should consolidate, you should check to make sure you are eligible. If you haven’t graduated yet, you cannot consolidate your loans. (This was not true a year ago!) You must either be in your six-month grace period or in repayment. You must have eligible loans, usually totaling over $7,500 (you may be able to find some lenders who will do it for less). You can consolidate a single loan, as long as the loan being consolidated has not previously been consolidated. You can’t consolidate with your spouse anymore, but that was usually a bad idea anyway.
Consolidation: Should I do it? Student loan rates are adjusted annually on July 31st, based on the 91-day T-bill rates.
Years ago, rates were very low (as low as 2%!), and consolidation was a no-brainer. When I consolidated, they were around 4.5%. As of today, you can probably consolidate at 6.62% (before discounts) if you are in your grace period. If you don’t consolidate, that rate will jump to 7.22% when the grace period ends.
Students who received Stafford Loans on or after 01 July 2006 have a fixed 6.8% rate of interest for the life of their loan. The rate on previous loans will continue to be adjusted annually. If you have loans that were dispersed both before and after that date, the interest rate is averaged and weighted accordingly.
The decision isn’t as clear cut as it once was — it’s something you have to decide for yourself. But my opinion is that for most people, consolidation makes a lot of sense. If you aren’t happy with the current rates you could wait for lower rates, but who knows when they will be coming? In the meantime, you’ll be subject to a variable interest rate. Consolidating now may result in lower payments and a lower fixed interest rate immediately.
Consolidation: How do I do it? From the day I graduated (and even before), my mailbox was filled with offers to consolidate my student loans. Why does everyone want to help me with this? I was surprised to learn that my student loans are backed by the US government. If I default on my loan, the government will pay it, then try to get the money from me themselves. This means that the companies are essentially guaranteed to get their money back! Because of this, you will have plenty of offers to choose from. In reality, most of the offers are nearly identical, but pick wisely — this is a relationship you may have for a long time!
Remember, if you consolidate during your grace period, you can lock in your interest rate 0.6% lower and still not make any payments until your grace period ends. If you graduated last May, your grace period is probably ending very soon. Don’t hesitate!
Here are some important things to consider when choosing a lender:
interest rate (will likely be the same for all lenders)
discounts for auto-payment
discounts for on-time payments
website and user interface for payments
ability to pay with credit card with no fee (to get cash back bonus, not to convert to credit card debt!)
ability to use Upromise rewards to pay back the loan (Sallie Mae)
I chose Wells Fargo because my other banking is there, making it really easy to make extra payments. I wouldn’t exactly recommend them (a lot went wrong during the consolidation process), but now that everything is consolidated, they are working out just fine. Honestly, I wasn’t as well informed as I should have been, and if I could do it again, I’d do more research.
Here are some sites to get you started on your research:
What if I can not afford my payments? If you are unable to pay the monthly bill, there are a few things you can do, all starting with talking to your lender.
You can usually arrange an alternative payment plan, where you pay less now and payments increase as your income increases.
You also may qualify for a deferment, where you are not required to make payments for some set period of time (interest will still accrue though!). Your credit score will not be hurt, but these require special circumstances.
As a last resort, there is the option of forbearance. This is similar to deferment, but you don’t need qualifying circumstances, and it will negatively impact your credit score.
I can pay them… and more! Should I pay them back quickly? The general advice on this is no, as long as the interest rate is low. This does make sense if you are investing the difference of what you can pay and what you are paying. By the math, you should hang on to them as long as the term allows. Personally, my loan is for 20 years, and I just don’t think I want to have them around when I’m in my 40s. Mathematically sound or not, I will be paying them off a bit early, but they are the lowest priority of my financial goals. The Get Rich Slowly philosophy “Do what works for you” certainly applies here.
The most often cited reason for not repaying student loans early is that the interest is generally tax deductible and you don’t even have to itemize to take this deduction. Also, if you have a government loan, your money usually can make more for you elsewhere, though there is often more risk involved. If choosing between a Roth/401k or paying off loans early, I would recommend investing in your future.
What about private loans? Private loans usually aren’t low interest, and they don’t have as many nice benefits as federal loans. If you consolidate, you typically aren’t locking into a lower rate, just switching lenders. There may be some benefits, but be skeptical and don’t consolidate them with your federal loans, as you will lose some important benefits. The best way to handle private loans is to pay them off as soon as possible.
Among the reasons private loans should be repaid as soon as possible:
You cannot defer payments on a private loan consolidation if you want to go back to school.
You cannot forbear payments in case of economic hardship.
You cannot apply for forgiveness on a private loan consolidation.
If you should pass away, private loans are passed to your next of kin. Federal loans are forgiven.
Private loan consolidation very often has variable rates, which means you cannot lock in today’s current historic low rates. Those rates may be tied to volatile indexes like the Prime Rate, which can jump as high as 13%.
My private loans were somewhere around 8%, and I paid them off in about six months. I focused all of my financial energy on them, and even did a balance transfer to a 0% interest card, but paid it off as quickly as I could.
For more information on anything about student loans, visit FinAid! This site is excellent and should answer all of your questions.
Whether you’ve been a single mom since day one or are in the process of becoming a solo parent, raising a child on your own can be expensive. Housing, essentials, and extracurriculars add up. Add in unplanned days off for childcare, major expenses like dental work and medical insurance, or expenses like legal bills during a separation, and you may find yourself with your finances stretched thinner than you’d like.
One option to consider is a personal loan. This type of loan provides a lump sum of money up front you then pay back (plus interest) in monthly installments over time. You can use the funds from a personal loan for virtually any purpose, whether it’s making a large purchase, covering living expenses, or paying down other, higher-interest debt.
Read on for a closer look at personal loans for single moms, including their pros and cons, how to qualify, plus other funding options you may want to explore.
Why Might a Single Mom Need a Personal Loan?
There are many reasons why a single mother — or any parent — might consider applying for a personal loan. These include:
1. Consolidating debt
2. Covering the cost a move
3. Paying tuition or extracurricular expenses for children
4. Stopgap during times of unemployment
5. Covering housing costs, such as rent or a mortgage
6. Paying for a home remodeling project
7. Buying a car
8. Purchasing major appliances
Recommended: What Is a Personal Loan? How Do Personal Loans Work?
Are Personal Loans for Single Mothers Special?
In a word, no. The process of applying for a personal loan is the same for everyone. However, there may be particular approval hurdles to overcome as a single parent.
One is income. If you’re newly single, you may not have a steady income, which can make it more difficult to get approved for a personal loan. Another is your credit. If you’ve had to rely on credit cards to cover the cost of divorce or the transition to single parenting, your credit may not be what it used to be. The amount of debt you owe on your credit cards is one of the biggest factors affecting your credit score.
However, these obstacles aren’t insurmountable (more on that below).
Benefits and Risks of Personal Loans for a Single Mother
A personal loan can offer a single mom a valuable lifeline to meet immediate needs, such as unexpected expenses, education costs, or debt consolidation. However, taking on any type of debt generally comes with costs, as well as risks. Here’s a look at the pros and cons of getting a loan as a single mom.
Pros
Cons
Flexibility in fund usage
Interest and fees add to your costs
Quick access to funds
Risk of overborrowing
Fixed repayment schedule
Missed or late payments can negatively impact your credit
Interest rates are typically lower than credit cards
Can add to your debt burden
Pros of Personal Loans for Single Mothers
• Flexibility Personal loans provide flexibility in how you can use the borrowed funds. Whether it’s covering medical bills, home repairs, or summer camp tuition, personal loans can be used for a wide range of purposes.
• Quick access to funds Personal loans often come with a streamlined application process and relatively quick approval. You may be able to access the funds quickly, enabling you to address urgent financial needs promptly.
• Fixed repayment schedule Personal loans usually come with fixed monthly payments over a specified term. This predictability can make it easier for you to budget and plan your finances effectively.
• Potential for lower interest rates Depending on the borrower’s creditworthiness, personal loans can offer competitive interest rates compared to other types of borrowing, such as credit cards or payday loans. Single mothers with a good credit history may benefit from more affordable repayment terms.
Cons of Personal Loans for Single Mothers
• Interest and fees On top of interest, some lenders charge fees for personal loans, which increase the overall cost of borrowing. It’s important to carefully evaluate the terms and conditions to make sure you can comfortably manage the repayments without straining your budget.
• Risk of overborrowing As a single mom, you likely want to avoid overborrowing or taking on more debt than they can reasonably repay. Overcommitting to loan payments may lead to a cycle of financial stress and difficulty in meeting other essential expenses.
• Impact on credit score Taking out a personal loan creates a new line of credit, and if not managed properly, it could negatively affect your credit profile. Late or missed payments can damage creditworthiness, potentially impacting future borrowing opportunities.
• Debt burden A personal loan will add to your existing financial obligations as a single mother. Before opting for a loan, you’ll want to be certain to assess the long-term implications and consider whether the loan repayments align with your income and financial goals.
Is Getting a Personal Loan With No Income Possible?
If you’re a single mother with no job or you’ve been a stay-at-home-mother with little or no income of your own, it may be difficult, though not impossible, to qualify for a personal loan.
Lenders typically want to see proof of a regular income. However, that does not necessarily have to be job-related income. You may be able to count these other sources of income:
• Unemployment
• Alimony
• Child support
• Investment income
• Rental income
• Pension or annuity income
• Freelance work
• Gig work
If you don’t have much income to speak of, then you might consider a cosigner or co-applicant for your loan. This a person who agrees to make the loan payments if the main borrower cannot or does not. For some borrowers, family members have the financial flexibility to cosign on a loan, but it can be a good idea to have a conversation about expectations and potential hypotheticals if you were no longer able to pay back the loan.
Another option is to secure a personal loan with collateral. This is an asset of value, such as a vehicle or money in a savings account, you use to back the loan in case you default. Should you become unable to repay the loan, the lender can seize your collateral to recover their losses. This lowers risk for the lender, making steady income (or less-than-stellar credit) less critical.
Also keep in mind that if you have no income but excellent credit, you may still find a lender who is willing to offer you an unsecured personal loan.
You’ll also want to be wary, however, of lenders who advertise “No-Income Loans,” as these loans may come with sky-high interest rates, short repayment terms, and low loan amounts.
Alternatives to Personal Loans for Single Mothers
There are other alternatives to personal loans, depending on your financial circumstances and your needs. Here are some you might consider.
Home Loans for Single Mothers
If you own your home, using your home as a financial asset may be one way to borrow funds at a reasonable cost. If you have built up equity in your home, you may be able to tap that equity by getting a home equity loan or a home equity line of credit (HELOC). Just keep in mind that the loan is backed by your home. Should you have difficulty repaying the loan or credit line, you could potentially lose your home.
Government Resources for Single Parents
If your income is low, you may be eligible for one or more government assistance programs. Some options you may want to explore include:
• Special Supplemental Nutrition Program for Women, Infants, and Children (WIC)
• National School Lunch Program
• Temporary Assistance for Needy Families (TANF)
• Low Income Home Energy Assistance Program (LIHEAP)
• The Emergency Food Assistance Program
You can find more resources at enefits.gov.
Educational Aid for Single Mothers
If you’re considering going back to school, below are some programs that can help make it more affordable (or even free):
• Pell Grants
• Teach Grants
• Women’s Independence Scholarship Program (WISP)
There also may be private scholarships and grants for single parents available from the institutions you’re interested in. Speaking with the financial aid office may help you see the breadth of options available to you.
Other Financial Help For Single Mothers
Becoming a single mother, either by choice or circumstance, can feel overwhelming. But there is support out there. It can help to talk to other single parents in your community — you may be surprised by all the resources that are available. Other opportunities may include:
• Financial aid or tuition assistance If your children are in private school or extracurricular programs, there may be financial aid available to help lower the cost. Even if there’s not a formal program, it can’t hurt to explain your situation and ask what may be available.
• Employer-based programs Your human resources department may have certain programs, such as childcare coverage, free legal consultations, and access to financial planning and debt counseling, for eligible workers. Talk to your HR representative or look through their materials to assess what’s available.
• Family and friends People close to you may be willing to provide support, or there may be creative ways to trade services, such as babysitting, to get more financial help. If a friend or family member offers to loan you money, it can be helpful to put an agreement in writing, including any interest you will pay and the terms of repayment, so there is no confusion that can cause a rift in your relationship.
Recommended: Options for When You Can’t Afford Your Child’s College
The Takeaway
As a single mother, there are avenues that can help you manage your finances and achieve your financial goals, including taking out a personal loan. This type of financing can provide financial relief and flexibility, but it is important to weigh the pros and cons, compare options from different lenders, and assess your ability to manage repayments responsibly.
Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.
SoFi’s Personal Loan was named NerdWallet’s 2023 winner for Best Online Personal Loan overall.
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Every year, housing demand picks up during the traditional spring buying season and eventually begins to fade as summer takes hold and kids make their way back to school.
But this year’s seasonal slowdown is even more pronounced due to what Redfin refers to as “buyer fatigue.”
So why are prospective home buyers tired? Well, Redfin attributes the lethargy to “high prices and low selection.”
Apparently they’re still touring properties in droves, but they’re less likely to make an offer. If they do, it’s more often on a lower priced home. Price sensitivity is becoming more of an issue.
Redfin Housing Demand Index Shows “More Extreme” Slowdown
This all comes from the company’s inaugural Redfin Housing Demand Index, which is forecasting slowdowns in both home sales and home price increases.
The index, which is scaled to equal 100 as of January 2013, debuted at 113 in its first edition, up 13% from June 2014.
It charted a similar path this year as in previous years, but the 6.7% decline from May to June is nearly double the 3.9% drop seen in the same period of 2014.
If you’re wondering, the data comes from millions of visits to Redfin’s home listing pages, along with the number of tours and offers made by Redfin customers.
Redfin also said it expects home prices to increase just 4.3% year-over-year in July, and only 2.2% YoY in August.
Contrary to popular belief, home prices can’t keep increasing forever without meaningful increases in the wage department.
And paying well over list price is starting to become less common as starting prices are tested by more discerning buyers.
Home sales are also slated to slow down, with Redfin forecasting a YoY gain of 14.3% in July, followed by a 4.6% YoY increase in August.
There’s also less international competition thanks to a strong U.S. dollar. It was pretty common for Europeans, Canadians, and the Chinese to purchase properties in the States.
But now that their currencies have been devalued sharply against the dollar, it’s mainly Americans in the mix.
For some markets popular with foreign investors that have already experienced major price appreciation, demand will surely wane.
The Bubbly Years Are Over?
Meanwhile, the brains over at the S&P Dow Jones Indices expect home prices to moderate, according to the latest monthly home price report released today.
The S&P/Case-Shiller U.S. National Home Price Index increased 4.4% in May compared to a year earlier, up ever so slightly from the 4.3% YoY increase seen in April.
The 10-City Composite gained 4.7% YoY and the 20-City Composite gained 4.9% from a year earlier.
Managing Director and Chairman of the Index Committee at S&P David M. Blitzer argued that first-time home buyers have been the “weak spot in the market,” with hefty down payments, not rising mortgage rates, the likely culprit.
He believes home prices are more likely to slow than accelerate over the next two years, and thinks they’ve settled in at a steady 4-5% annual pace after some “bubbly” years.
This might be good news for those looking to buy a home who were previously priced out of the market. More moderate gains and realistic listing prices could draw some fence sitters back in.
Read more: What’s my outlook on the real estate market?
When you have kids you always want to do what’s best for them. You wonder, what is the right brand of diapers to buy, which baby lotion is the best for their skin, which car seat is the safest? The sheer number of decisions that you have to make as a new parent can be overwhelming.
One of the decisions my husband and I are currently grappling with is around the state of our children’s education. Where should they go to school? Where will they receive the best education? Is there a certain educational philosophy that would fit best with their learning style?
When I was growing up the decision was easy. You go to the school that’s closest to where you live. And while this is still an option, parents can also consider a number of other choices. You can send your children to public school, charter school, private school, or you can homeschool.
This article will introduce these four different schooling options, what they are, how they work, and the eduction costs involved so you can make the decision that is best for your family.
What’s Ahead:
The cost of private, public, charter, and homeschool tuition and other costs to consider
Private
Public
Charter
Homeschool
Average out of pocket tuition
$11,004
Free
Free
Free
Other costs to consider
Uniform Extra curriculars Transportation Tutoring Field trips “Keeping up with Joneses”
School supplies Tutoring Clothing Field trips
School supplies Tutoring Clothing Field trips Transportation
Curriculum School supplies Textbooks Computers Workstation (desk/chairs) Opportunity costs
In 2019, there were approximately 56.6 million students attending elementary and secondary school in the U.S. Of those students, 5.8 million were enrolled in a private school and 50.8 million were enrolled in public schools.
As of 2017, 7.1% of public schools are classified as charter schools. Charter schools have seen their numbers grow from 6,860 in 2016 to 7,010 in 2017.
There are approximately 2.5 million students from grades K-12 being homeschooled in the US. According to the National Home Education Research Institute. This is equivalent to approximately 3% – 4% of school-aged children.
Private school
Private school can be super expensive for the average family. While we all want what is best for our kids you might be wondering, why would I stretch myself so thin financially when I can send my kids to public school for free?
Great question.
Every family will have their own reasons for choosing the school system that is right for them but some of the reasons families opt for private include:
Smaller class sizes (sometimes). According to EducationalData.org, the average class size for private schools is 18.8 students compared to 24 students in public school.
Looking for a specific educational approach. For instance, some families might want their children to experience the Montessori style of learning.
Gifted children or children with special needs. Certain children learn better in particular environments or require different supports.
Religious or cultural preference. Many private schools have a religious affiliation which may be especially important to a family.
The cost of attending a private school
Private schools are funded by private companies and by the banks of moms and dads!
According to Private School Review, the average cost of tuition for private school is $11,004. Breaking this down even further, the average tuition for private elementary school is $9,900 per year. The average tuition for private high school is $14,711 per year.
Of course, the cost will also depend on where you live. If you’re located in Connecticut or Massachusetts I’m sorry to say you will be paying the highest private school tuition rates at over $24,000 per year (ouch).
If you look into private schools associated with the National Association of Independent Schools (NAIS), the cost of tuition is even higher. The average day tuition for a NAIS school sits at $26,866 for the 2019-2020 school year.
If you want to send your little one off to boarding school at a NAIS school, the five-day average is $46,475, and the average for a seven-day boarding school is $60,600. Wowza, that kid better get into Harvard…am I right?
Other costs associated with private school
When it comes to the cost of sending your child to private school, tuition cost is just one piece of the puzzle. You should also consider:
Uniforms.
Extracurricular activities.
Gas money. (this could get pricey if you have a long daily commute to and from school)
The cost of keeping up with the Joneses. A lot of wealthy families send their kids to private schools. This means you might be dealing with kids that have a lot and, in turn, your kids will want to keep up. Of course, it’s up to you to manage your children’s expectations but be prepared to have this conversation.
How to minimize costs
If you want your children to attend private school because of the smaller class sizes or specific programs being offered, you can look into financial aid to see if you qualify. If cost is an issue you can also consider religious vs. secular private schools, as religious private schools tend to be cheaper.
Public school
The majority of elementary and secondary students in the U.S. are enrolled in public schools. Public schools can be a great option for families for a number of different reasons including:
Cost. I mean you can’t beat free, right?
Availability. All children in the U.S. have access to a free public education.
Diversity. Public schools are often more diverse in terms of ethnicity and socioeconomic status.
The cost of attending public school
The average cost of public school education per student (pre K through to grade 12) in the U.S. is $13,440. The cost of a public school education is covered by funding from the government at the federal, state, and local levels.
While you don’t have to write out a check to pay for your children’s public education, don’t be mistaken, you are still paying. Payment comes in the form of taxes!
So, while you won’t have to dish out thousands of dollars for tuition, you will pay in other ways. Yay!
Of course, if you already live in a home that is located in a great school district then you probably won’t worry about your property taxes in relation to your kids’ education!
Other costs to consider
School supplies and clothing. In 2019 American households planned to spend an average of $696.70 on back to school shopping. This included school supplies, clothes, shoes, and electronics.
Tutoring. According to tutors.com, the average hourly price of a private tutor ranges between $25 – $80 per hour.
Field trips. Any special trips outside of the school walls are going to cost you. It’s estimated that the average expense for field trips and extra activities at the elementary level ranges from $10 to $3,500.
How to minimize costs
Shop the back to school sales. This can apply to clothes, shoes, and electronics. You can check out whether or not your state has a sales tax holiday that is specifically geared at back to school purchases. You can check out if your state offers a sales tax holiday and when it is on the Sales Tax Institute website.
Buy used. If you are trying to keep costs down then consider going to a consignment store to buy used clothing or shoes. This can be especially useful for younger kids who seem to grow out of their stuff every few months.
Charter schools
Charter schools are a type of public school and while they share some characteristics with a regular public school, they also have their differences.
How are charter schools and public schools similar?
Both publicly funded.
Both offer free tuition.
How are charter schools and public schools different?
Run by independent groups while regular public schools are governed by the school board and school district.
Charter schools don’t have to follow the same rules and regulations as regular public schools. They enjoy a greater sense of freedom and flexibility when it comes to their curriculum and even their school hours.
Students usually have to apply to get into a charter school. If there are not enough spots for all of the applicants then a lottery is held.
Charter schools often come to fruition in an effort to achieve a specific goal
You don’t have to live in a particular district to go to a charter school. If you can get yourself there, and you’ve been accepted, then you can go.
The cost of attending a charter school
As I already mentioned, the cost of a charter school is the same as a public school, it’s free!
Other costs to consider
There’s not much new to consider here. It’s the same costs associated with a regular public school – you know, school supplies, clothes, and potentially some tutoring and field trips. However, if you get into a charter school that is super far away from where you live then you’ll also want to consider the amount of gas you’re going to be needing for your commute.
Homeschooling
With the current state of the world, I wouldn’t be surprised to see an influx in the number of children being homeschooled. Or maybe, all of the parents who temporarily had to step in to play the role of teacher have been scared off for good!
Regardless, homeschooling is another option and one that accounts for approximately 2.5 million students from kindergarten to grade 12.
Homeschooling is pretty self-explanatory – it’s schooling your kids at home. There are several reasons that a family might choose this as an option including:
Other school options were not a good fit for their child.
The family has a specific religious background that will direct the way they teach.
Similarly, they might have a particular educational philosophy that they want to follow.
Some parents might feel that it is safer to teach their children from home.
Your child has special needs.
The cost of homeschooling
Obviously, when it comes to homeschooling there will be no hefty tuition. However, there are still many costs associated with this form of schooling. According to the National Home Education Research Institute (NHERI), families who homeschool spend an annual average of $600 per student.
Other costs associated with homeschooling
Homeschooling is different from the other school options I’ve covered in this story because you will be the teacher and you will be teaching out of your home. So, you have to consider all of the costs associated with that task of teaching such as purchasing a curriculum, unless you decide to create your own.
You will also need to ensure that your students have all of the tools they need to learn. This could include:
Textbooks.
Laptops.
Wifi.
Craft supplies.
Science experiment supplies.
Pens and paper.
Comfy chair to sit in and desks to work at.
Use your imagination – you can see how your costs could get out of control if you didn’t have a strict budget!
Cost of being home
Then there is the cost associated with having your children at home most of the time. This could increase your heating or cooling bills, your water bill, and most definitely the food bill.
Extracurriculars
What about extracurriculars? If your kids have been at home all day then they could probably use a dose of socialization (or socially distanced socialization) — depending on the times! Extracurricular activities can get expensive so make sure you consider this.
Field trips
Also, if you want to take your students on any field trips, that’s going to be coming out of your wallet. And, because your class sizes are probably pretty small you likely won’t be getting a volume discount at your local science center or zoo.
Personal development
Unless you come from a background in education, you might want to consider some teaching classes to improve your pedagogical skills.
Opportunity costs
If you really want to think about the cost of homeschooling from all angles you also want to consider your opportunity costs. What are you giving up to homeschool your kids? Are you giving up a lucrative career or a job that you’re truly passionate about? Is it worth it to you?
On the flip side, maybe homeschooling your littles and spending tons of time with them is what you are passionate about.
Your sanity
Last by not least. What is your sanity worth? Are you mentally prepared to take on the role of teacher with your children? Again, this will depend on a number of factors including whether or not you want to take on this role or you feel it is your obligation due to…oh, I don’t know, a worldwide pandemic.
How to minimize costs
Look for free publicly-funded curriculums online.
Borrow books from the library instead of purchasing new.
Use free online resources for teaching (we all know there’s a ton of good info available on YouTube and blogs).
If you plan to go on the same field trip several times (e.g. local science center) then consider buying a family pass instead of purchasing individual tickets for each visit.
How to save for your kids education
If you know you want your kids to attend private school and your bank is not overflowing with money, then it’s important to start saving as early as possible. In fact, you might want to consider saving while your kids are still babies, or even when you start thinking about having kids. It sounds crazy but private school is expensive.
While private school is the most expensive when it comes to out of pocket tuition, each type of school has costs associated with it. There is no free education.
If you want to start putting some money into savings for your kids education, be it tuition or back to school clothes, you can check out Chime®. Chime is a great option for those who like to bank digitally as it operates online and offers both checking and savings accounts. *
Chime is a good place to keep savings associated with your kids schooling because they offer 2.00% APY. 7 So, instead of earning nothing back if you just leave this money sitting in a checking account, you will at least be earning some interest.
* Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. 7 The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of November 17, 2022. No minimum balance required. Must have $0.01 in savings to earn interest.
Do people who attend one type of school perform better?
If you’re a parent then you know that there are virtually an endless number of ways that you can screw up your kids. You give them too much attention as babies – hello attachment issues. You let them see a screen before they are 10 – ugh, how could you. You put them into public school instead of spending your grocery money on private school – do you even care about your children?
The question is, do people who attend one type of schooling perform better and then make more money as adults?
Private vs. public
In a longitudinal study published in 2018, researchers found that kids (K to 9th grade) in private school perform better academically, socially, and psychologically then kids who attend public schools. However, when you control for sociodemographic factors that typically direct which students are able to go to a private school ( a.k.a how much money your parents make) “all of the advantages of private school were eliminated.”
The study also reported that “there was no evidence to suggest that low-income children or children enrolled in urban schools benefited more from private school enrollment.”
Public vs. charter
The National Assessment of Education Progress (NAEP) evaluates students’ academic achievement at grade four, eight, and 12 levels in both private and public schools across the country. In 2017 they compared the reading and math test scores of grade eight students from traditional public schools and charter schools and found no measurable difference. (Note that these results were observed after controlling for parents’ educational attainment).
Anecdotally, I know a lot of super amazing, smart, successful, and kind people who graduated from public school. I too graduated from public school and I hold no resentment towards my parents for not putting me in a private, charter, or homeschooling situation.
Public vs. homeschooling
According to NHERI, homeschooled students “score above average on achievement tests regardless of their parents’ level of formal education or their family’s household income.”
However, an article in the Studies in Educational Evaluation Journal proposes that comparing academic achievement in public school to academic achievement in homeschool is not comparing apples to apples. The study suggests that this is because it’s hard to know if the evaluation methods used to determine academic achievement in a homeschool environment are compatible with the teaching and education occurring within that context.
So, when it comes to which is “better” academically or performance-wise the answer is murky at best. It depends more on what is the right fit for your child.
Do people who attend one type of school make more money as adults?
Honestly, when researching the answer to this question you can find evidence to support each type of schooling. Proponents of private school will give you evidence to suggest that your child will have a higher earning potential if they go private. Proponents of public and charter schools will have their own evidence to suggest that a public education is the way to reach success, as will the homeschoolers.
What’s important to remember is that your children’s school is one variable in their lives. You want to know two variables that are more likely to contribute to your child’s future earning potential – their socioeconomic background (how much money do their parents make) and their parents’ educational level (high school degree vs. master or doctorate).
As a parent, I get that we all want to do right by our children. But, when it comes to trying to predict their future earning potential I have to stop and shake my head. Yes, we want our kids to find financial security but when it comes to their education shouldn’t we be more worried about finding a school that supports their learning style, challenges their amazing aptitude for curiosity, and encourages them to see the beauty in diversity and new ideas?
And, if you feel bad because you live in a not-so-stellar school district and don’t have the means to relocate, remember this. School in the traditional sense of the word is just one way that you learn. There are so many other ways to encourage your children’s development and challenge their curiosity. Bring home mountains of free library books and teach them the joy of reading. Take them outside in nature and explore, you can even use YouTube to learn about new places and cultures.
Is the cost of each type of school worth it?
Now I hope you’re armed with a lot more information when it comes to evaluating which type of school is best for your kids and your family. There is no one size fits all solution when it comes to school. Every kid is different, the way they learn is different, the schools are different, the teachers are different. There are simply too many variables to say which one is better, or worth more than the other. What you value is ultimately going to be different than what I value.
When it comes to finding the right fit, this is a mental calculation you will have to perform with your family. If you’re struggling to choose between all of the options the first question you can ask yourself is, “can I afford private school?” If you have to choose between paying your child’s tuition and keeping the lights on in your house, maybe private school isn’t the right choice.
Summary
When deciding on which type of school to send your child to, remember, based on the research, your kids will have the opportunity to succeed in life regardless of the type of school they go to. There are many things that are more likely to improve your kids’ chances of success and a better financial outcome – like having a loving parent and someone they can consistently count on.
It’s back to school again! Sure, our school days may be a thing of the distant past, but Mondays ugh! are basically the “back to school” equivalent so we feel your pain. You don’t really wanna end the stress-free life of the weekend summer, but hey, it’s the start of a new beginning and that can always be a good thing. Once you get over that dreadful first day, the first couple of weeks of school are actually really fun – getting organized with new classes, meeting new friends, weeding out pesky professors all of which get you one step closer to that diploma!. To help you get into the swing of things, here are some backpack essentials you’ll want to have in class to kick this semester in the a-s-s.
Get Your Shop On:
> 1. Backpack > 2. Folio > 3. Coffee Traveler > 4. Planner > 5. iPhone Case > 6. Pencil Pouch > 7. “It’s Not How Good You Are, It’s How Good You Want to Be” Book > 8. Flash Drive > 9. Pens > 10. Clipboard