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To pay for a Ph.D., exhaust options for free money, including scholarships and grants, first. Your school can help you find them. Then consider federal and private student loans to cover additional costs of your Ph.D. program.

Getting a doctorate is a big commitment. Like any form of higher education, it takes a lot of time and can cost a lot of money.

Fortunately, you can tap into many resources to pay for it. In this guide, we’ll explain how to pay for a PhD, and we’ll also provide tips for getting your degree without incurring a ton of student debt.

In this guide:

  • Where to begin: interest-free aid

PhD funding: first steps

There are several funding opportunities to pay for your doctoral program. …

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An increasing number of student borrowers are looking for payment relief by reducing their interest costs through student loan refinancing. The question is, can you refinance your student loans before you graduate? The answer is yes.

Below, you will see why it may make sense to refinance before you graduate and what to keep in mind before doing so.

On this page:

  • What to consider when refinancing before graduation

What to consider when refinancing before graduation

When you refinance student loans, you are taking out a new loan with new loan terms through a private lender. Oftentimes, the goal of refinancing is to lower your interest rate, therefore decreasing the overall cost of your loan.

For example, if the average rate on your existing student loan balance of $50,000 is 7% and you can reduce it to 5% through refinancing, it could save you around $50 a month over a 10-year repayment period, or more than $6,000 over the life of the loan. …

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You can use both federal and private student loans to pay for your education. You should try to get federal student loans first, which you can apply for by completing the FAFSA. Then get private student loans to cover your remaining expenses.

If you want to earn a degree, chances are good that you will need to figure out how to get a student loan. Taking on a large amount of debt just to earn a diploma can be intimidating. However, borrowing for school is often a worthwhile investment.

You just don’t want to borrow more than necessary, so always look into other ways to keep costs down, including scholarships, grants, and working while in school to avoid over-borrowing.

It’s also important that you understand different kinds of student loans available to you and that you shop around for loans with the best repayment options. …

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Just about everyone has heard about student loans. They are constantly mentioned in the news — often with much scrutiny and, more often than not, in a negative light.

While it would be nice to attend college for free or without having to take on debt, the truth is that student loans are often necessary for those looking to obtain a higher education — especially considering the rate of increase in average college tuition.

At the end of the day, student loans allow aspiring young minds to attend college, thereby unlocking opportunities that would have never previously existed.

When scholarships, grants, and savings aren’t enough, students around the nation turn to student loans to bridge the gap.​

Though many people know about student loans, nearly no one knows about how they started and how they’ve reached the level of popularity that they are at today. …

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Student loan debt can affect your ability to get a mortgage and buy a home by increasing your debt-to-income ratio and reducing the amount you can save for a down payment. This guide will help you avoid these issues.

Student loan debt is rising at a troubling rate. In fact, according to LendEDU’s average student loan debt statistics, there is $1.52 trillion in outstanding student loan debt in the United States. Homeownership rates, on the other hand, are falling — particularly among millennials.

Many Americans are forced to delay owning a home because of the burden of monthly student loan payments. Taking on a mortgage loan when you already owe so much can be difficult. The good news is, it’s often still possible to buy a home with student loans. This guide will show you how.

In this guide:

  • Getting a Mortgage with Student…

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Law school is expensive. To pay for it, explore all your options for grants and scholarships. Once you’ve exhausted free funding, consider federal student loans before taking out private loans to cover additional costs.

Earning a law degree can be a worthy investment in your future earning power. Unfortunately, law school can also be expensive, and the average law school debt can be prohibitively high.

You should think carefully about how to pay for law school before you sign up for any loans, as your funding sources can affect your total costs over time.

This guide will help you explore your options for covering the cost of earning a Doctor of Jurisprudence degree, so you don’t have to go deeply into student loan debt for your education.

In this guide:

  • Paying for law school: first…

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Checking your credit score has become incredibly easy in recent years. There are a number of websites and apps that can offer you a glimpse of your credit health, one of them being CreditWise from Capital One.

Capital One is a credit card company that offers its account holders a view of their credit. Their CreditWise service was launched in 2014, and it’s a popular product that has now been opened up to the public. The real question is, however, is CreditWise worth getting? More importantly, is it accurate?

How CreditWise Works

You don’t need to be a Capital One cardholder to get CreditWise, and it’s free. The product is available to anyone who’s over the age of 18 and has a valid Social Security number that can be matched to a credit profile. Because CreditWise uses a “soft” credit pull, your score won’t be affected by it. …

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Are you making separate student loan payments each month on student loans? You may want to consider consolidating your student loans. Student loan consolidation and refinancing can help relieve some of the pain caused by multiple interest payments.

Student loans are tough these days. The most recent student loan debt statistics show 71% of college graduates are graduating with some form of debt. 7 out of 10. Crazy! What’s more, some borrowers are stuck with high-interest rates as well as multiple monthly payments from several different student loans.

If you find that you’re stuck with multiple monthly student loan payments at high interest, then student loan consolidation could be a potential solution to help you lower some of your interest rates. …

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Five credit factors affect your credit score: payment history, credit utilization, types of credit, age of credit, and the number of hard inquiries. Other factors don’t impact your credit score as much, such as whether you carry a small balance on your credit card.

Consumer credit scores were first developed by the Fair Isaac Corporation (FICO). Although there are many different credit scoring models in existence — including VantageScore as well as proprietary models developed by different lenders — people who talk about credit scores today, are usually referring to your FICO score.

Your credit score affects almost every part of your financial life, from whether you can get a personal loan, qualify for a car loan to whether you can even rent an apartment. Even the deposit you put down on utilities can be affected by your credit score.

Your credit score changes as creditors and other companies report your borrowing and payment behavior to major credit reporting agencies, including Equifax, Experian, and TransUnion. Because information is continually being reported to the credit bureaus, it’s imperative you make payments on time and are responsible whenever you borrow money. …

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Renters comprise a large number of people in the U.S. While many renters say they don’t mind not owning a home with a big mortgage, they are disadvantaged in at least one way. If they make their monthly rent payments on time, just as homeowners make their monthly mortgage payments on time, it does nothing to help their credit score.

Except in some cases where property managers report rent payments to the credit bureaus, they generally go unreported. For renters who need to build their credit so they can eventually qualify for a mortgage, that is a big disadvantage. However, for a relatively small fee, there is a way renters can change that and start getting credit where credit is due.

How Rental Payments Impact Your Credit

Generally, rent payments have a minimal impact on your credit score. But, that shouldn’t discourage you from finding a way to have them reported to the credit bureaus because they can help you in certain circumstances.

The good news is that all three of the major credit bureaus — Experian, TransUnion, and Equifax — do include rental payments in their credit reports when they are reported. The problem is the most widely used credit scoring model — FICO 8 — doesn’t use rent payments in calculating credit scores. …



With the help of LendEDU’s blog, tools, and resources, our goal is to assist you in making educated financial decisions. LendEDU: Educated Financial Decisions.

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