
Source: blog.apartmentsearch.com
Source: blog.apartmentsearch.com
From its year-round sunshine to its annual Gasparilla Pirate Festival, there are tons of reasons to love living in Tampa. However, apartments in some neighborhoods don’t come cheap.
Fortunately, you don’t need to live in the Big Guava to enjoy everything it has to offer. There are lots of cities near Tampa that provide easy access to all the region’s amenities and attractions while maintaining a unique charm of their own.
So, before you commit to leasing an apartment in Tampa, you might want to consider these 10 alternative towns instead, all within 50 miles of downtown:
For renters who want to enjoy the Tampa lifestyle and save some money in the process, Temple Terrace is the perfect option.
This affordable town is just a hop, skip and a jump from Tampa. In normal traffic, you can get from your front door to the Amalie Arena or the David A. Straz Jr. Center for the Performing Arts in around 20 minutes.
Of course, residents don’t have to leave Temple Terrace to find things to do. This Hillsborough County city features tons of amenities, including the Claw (an 18-hole golf course) and Temple Crest Park.
Temple Terrace is also an ideal spot for college students in need of an off-campus apartment. The University of South Florida is just a few minutes away by car, bike or bus.
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Largo is the third-largest city in Pinellas County, which means endless amenities and attractions for the whole family. History buffs will enjoy the Pinellas County Heritage Village, naturists will appreciate John S. Taylor Park and everyone will have fun at the Highland Family Aquatic Center.
If you have kids (or are planning to start a family in the near future), you will also be excited to know that Largo is close to some excellent elementary schools. Curtis Fundamental Elementary School and Pasadena Fundamental Elementary School both receive 10/10 grades from Great Schools.
Should you choose to move to Largo, you will also be just a short drive away from some of the nation’s best beaches including Indian Rocks Beach and Belleair Beach.
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No list of cities near Tampa would be complete without mentioning Clearwater.
This coastal burg is one of the best places to live in the Tampa Bay area. Its picturesque beaches and trendy bars offer renters a uniquely fun and relaxed lifestyle.
This Pinellas County city is also an ideal spot for young professionals. Companies like Tech Data, BayCare Health System and the Suncoast Hospice Foundation have sizable footprints in the area and are always searching for new talent.
Clearwater is the most walkable city on this list. So, if you enjoy taking a stroll with your family in the evenings â it may just be the ideal place for you to rent your next apartment.
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Renters who want to move to Pinellas County, but would prefer somewhere a little quieter than Clearwater or Largo, are sure to love Palm Harbor. This town is almost entirely residential, save for a few charming golf courses.
The real beauty of this city is its location. A short drive can get you to a wide variety of stunning parks, beaches and recreation areas. And just 30 minutes in the car will get you to Tampa International Airport and Raymond James Stadium.
If you decide to move to this quaint burg, you can’t miss the Taste of Palm Harbor festival in October. This annual event offers you the chance to try a plethora of delicious foods and drinks made by dozens of local eateries.
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Plant City is just off Interstate 4, which makes it a breeze to get from this small town to the heart of downtown Tampa. For most residents, this drive should take no more than 30 to 40 minutes.
Convenient commuting isn’t the only reason to live in Plant City, though. This historic burg also offers a large number of breweries, bars and restaurants. It is even home to the Keel and Curley Winery.
However, without question, the Florida Strawberry Festival is the main attraction in Plant City. This annual event lasts 11 days and features scores of rides, art exhibits and dining options.
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Tarpon Springs might be home to just 25,577 residents, but it boasts the highest percentage of Greek Americans of any city in the United States. As such, this picturesque town’s culture is quite similar to that of a small village in Greece.
Each year, Tarpon Springs hosts an Epiphany celebration in which kids go diving for a cross, and the local priest blesses the waters and the boats. The event attracts visitors from throughout the United States and abroad.
Of course, you don’t have to enjoy Greek culture to love living in Tarpon Springs. The city also features lots of parks, bars and recreation areas.
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Lakeland is the largest city in Polk County. It is best known for its abundance of quaint antique shops and early 20th-century architecture. These features give it a look and feel that is unlike that of any other city in Florida.
This unique locale is perfect for families. It offers tons of recreation areas as well as some of the best schools in the area. Lincoln Avenue Academy is particularly popular with local parents.
Because it is on Interstate 4, Lakeland residents also enjoy easy commuting in and out of Tampa. In normal traffic, the journey takes around 45 minutes.
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Dade City is the county seat of Pasco County. By population, it is the smallest town on this list. As a result, it is also one of the quietest and most family-friendly.
Though Florida is generally quite flat, Dade City features a collection of rolling hills that offer residents some stunning views from their apartment balconies.
Like most cities near Tampa, Dade City offers an abundance of green space for renters to enjoy. Dade City Dog Park is especially popular with people who want to help their canine companions make new friends.
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At just 14.18 square miles, Bradenton is the smallest city on this list. However, it packs a lot of amenities into its limited space. This Manatee County town offers residents a baseball stadium, a science and nature museum and a performing arts center.
There are lots of job opportunities in Bradenton, especially in the healthcare sector. Companies like HCA Healthcare, HealthMarkets and Universal Health Services have offices in the region and regularly hire new employees.
Should you decide to rent an apartment in Bradenton, you will also have beaches like Longboat Key and Anna Maria Island just a stone’s throw from your front door.
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Spring Hill is undoubtedly one of the most affordable cities near Tampa. With one-bedroom units averaging $904 per month in this Hernando County town, you’ll have a tough time finding better value for money anywhere in Central Florida.
Its low cost of living isn’t the only thing that brings renters to Spring Hill, though. This charming city features a wildlife sanctuary, an adventure park and a country club. It is also just a short drive to the world-renowned Weeki Wachee Springs State Park.
Find apartments for rent in Spring Hill
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Don’t delay. Find your home in one of these cities near Tampa with Apartment Guide today.
The post 10 Cities Near Tampa To Live in 2021 appeared first on Apartment Living Tips – Apartment Tips from ApartmentGuide.com.
Source: apartmentguide.com
It is often hard to stay inspired during this difficult time. Things can look bleak – whether you’re reading the news or braving the world outside of your home. San Francisco has lost its charm during the pandemic. Streets are deserted. Businesses are boarded up and graffitied. All the cultural vitality that draws one to a city like this is canceled. If if we wanted to go somewhere….there’s no nowhere to go.
And so we turn inward. Back towards home. If you’ve been looking to scratch a creative itch, this post is for you.
As this pandemic has continued, I’ve been sharing #StayHomeInspo on Instagram – a respite for the eyes and inspiration for design ideas and creative projects we can do in our own homes to boost our spirits. One of my primary resources of inspiration has been stylist and photographer Colin King. I discovered Colin’s work on Instagram and have been following his creative journey every since – as he styles editorials ranging from corporate clients like Zara Home, to homes that grace the cover of Architectural Digest. As part of his own #StayHomeInspo journey, Colin started his own hashtag – #StayHomeStillLife chronicling his Covid creative outlet – creating stunning still life vignettes in his Manhattan apartment during New York City’s lockdown. I looked forward to a new image from Colin every day and even though he’s back to work outside his home, I still do.
Colin was gracious enough to share some of his creative tips and tricks with Apt34 today. I hope you find his insights as inspiring as I do.
Q: How did you get started, especially doing still life work? Did you have a mentor? Study something? Or just start experimenting?
A: Iâm really good at doing, and not so good at being. Out of all of the careers Iâve had, none of them afforded me the flexibility to work from home. So in an attempt to cope and self soothe, I quickly found comfort in creating still lifes at home. My apartment is small, and there are only so many combinations when it comes to rearranging furniture, so I was forced to think small. It started organically shopping at my favorite decor shop (and the only one that was open) – nature. Foraging quickly led me to taking unrelated, inanimate objects, fruit, and anything else I could find around the house; placing all of that on a clean surface and trying to find an arrangement that felt poetic. The act of creating these still lifes gave me a schedule and presented a challenging, healthy way for me to step away from my screen, disconnect from fear and worry, and just be.
Q: What would you say are the key components of a captivating still life?
A: For me there are three key components of a captivating still life.
Each still life I create, my goal is to conjure the feeling of being a tourist in someone elseâs reality. I never want any of my photos to feel as though youâre on a set or that the elements were contrived specifically for the photo. For example, when I am at a museum or even in someoneâs home for an editorial shoot, I am always noting the forgotten corners, the stanchions, the coat rack, the half-drawn closet curtain; these are the places where there was no thought or extra care given to the placement of things – itâs just where everything naturally fell. Every captivating image Iâve seen has this almost eerie element of a human having just been there moving about unapologetically, and whatâs left is unstyled but perfectly settled. Ultimately, creating a moment that seems more unearthed than contrived.
When approaching my still life I let go of the practical, intended use of each object. To me, a vase isnât a vase and a fork isnât a fork – theyâre just things with their own materiality and form. I love it when I see an image and donât even realize what the objects are until examining closer. Whether itâs upside down, balancing on its side, or completely submerged in a glass of water, there is an irreverence with a nod to surrealism that I love.
Lastly, light. Finding the depth between and beyond the surface the objects are on and how they relate to each other is key. Not only do I want to feel the dimensionality of the image, I also want to use objects that absorb light, reflect light, and bend light arranging them in a poetic display to generate an unexpected conversation.
Q: Are there any tricks of the trade you regularly rely on (tools, adhesives etc)?
A: No tricks. Just patience and a good playlist. Iâve never used a tool or an adhesive, I recognize I have so much to learn but right now I am having fun shattering glasses, chipping ceramics, cursing under my breath, and the freedom that comes with not being bound by any way of doing it. And music has always been a part of my process. As a trained dancer, music brings me a sense of comfort, routine and ritual while keeping me in the present moment.
Q: Your photography is also amazing. The way you use light is incredible. Are you self taught? Do you only use your phone and if so what do you use to edit your photos?
A: Aw, thank you. I am completely self-taught and I only use my iPhone. I just looked and I have 143,885 images on my phone. For each still life I create, or any image really, I take anywhere from 20-40 images per set up. Itâs practice. itâs repetition, itâs trial and error. Itâs like going to the gym and working out. Taking photos is a muscle Iâve been working on since I first got a camera phone in college. I use VSCO and Snapseed to manipulate shadows, contrast, and perspective. Weâre all learning from each other. I look to photographers and other creatives I admire and dissect their images, find what I like about them, and then tinker with my own.
I had to let go of the concept that there was the perfect preset or formula for any of my work. No one was going to share a map or rulebook with me, and through a lot of trial and error, I learned that I canât think my way into being a good photographer or stylist – it’s in the action. I have to use my hands to pick up something tactile – a book to sift through or a couple of objects to arrange. From there I just play, sometimes itâs there and sometimes, I walk away. I get myself into trouble when I wait for inspiration to hit, I have to get up and find it.
Q:You have a very distinct look. I can recognize your work a mile away. How did you go about cultivating that?
A: Intuition has always been my leader in life. I didnât know I was cultivating a look – I just kept taking photos of what I liked and using the limited resources I had. Although the aesthetic strands running through my work are pretty consistent, the influences feeding into the design process are typically eclectic and even the most unlikely of subjects can provide food for thought. Simplicity and finding beauty in the mundane interested me. At first, my minimal sensibility came from not having a large portfolio or a lot of pieces to work with. And ultimately, Iâve always admired the edited life – less color, less clutter, and fewer things sustained by purposeful restraint.
Q: Where do you turn for creative inspiration?
A: I draw my inspiration from other people. Iâve learned to surround myself with people who have something that I want; and challenge me to be more honest, take more risks, and ultimately how to not fear failure. I am energized and encouraged by other peopleâs victories; the immense joy I get from watching peers succeed gives me hope that I too, can achieve anything I put my mind to.
I am also very inspired by nature – I am in constant awe of what it produces. Nature has a way of humbling me and is a great reminder to abandon the idea of perfect – nothing about nature is linear or symmetrical and nothing is immune to decay.
Q: What about your work brings you joy?
A: I get to tell stories for a living and thatâs all Iâve ever wanted to do. I get to connect with people and help create a context for the intimate rituals of peoplesâ lives. And I also get to surrender to the subjectivity of what I do and knowing that the narrative Iâve created will be interpreted differently by each viewer – it challenges me to be vulnerable in a way – itâs all part of being a creative – and I feel grateful to be able to make a living by being creative.
Also, objects that have been given to me or are inherited from a shoot or trip, bring me joy. The handmade pieces in my place, knowing the story and process of the artist brings me joy as well. Ultimately, the smallest object can embody an entire relationship or single experience; theyâre tied integrally to memories and can shape the identity of the room.
Q: Your career has been taking off of late. Where do you hope to be in five years?
A: This time has presented irrefutable evidence that I donât have the power to know where I will be in 5 years. Doing the best at this moment puts me in the best place for the next moment. The saying Time takes time has always been a hard pill for me to swallow, I spent so much of my life wanting to be the fastest, youngest, and the best at everything I did but these unrealistic expectations only brought me pain. Pain is inevitable, suffering is optional. Surrendering to the idea that I am exactly where I am supposed to be, going through exactly what I need to be going through, AND being content with that is where I hope to be in 5 years. I am learning that the most important relationship I have is with myself. When that relationship is strong I am a better son, brother, friend, employee and partner.
Colin you are wise beyond your years and talented beyond belief. Thanks to you I’m going to continue to try to improve my foraging skills! f you find Colin as truly inspirational as I do, I hope you’ll give him a follow on Instagram.
What are you doing to stay inspired during this weird time??
For more Stay Home Inspiration, CLICK HERE.
images courtesy of Colin King
The post Stay Home Inspo: Creativity at Home with Colin King appeared first on Apartment34.
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Source: apartment34.com
Kitchens. They’re amazing spaces. They can be visually stunning. They must be total workhorses. They’re quite often the heart of the home. But they can also accumulate a lot of CRAP.
As I work to not only design but also fully outfit the kitchen for the Hood Canal Cottage, I’m starting completely from scratch. No hand-me-down casserole dishes, no knives I’ve carted around since college, no random herb scissors that I’ve never ever used. For once, I get to hand-select every tool and every object that comes into the space.
With that total blank slate, I find myself often thinking (ok, obsessing) about what I want this kitchen to have. As an avid cook, as we probably all are coming through Covid, I want kitchen tools that are really pretty, but also highly functional. And nothing else.
This kitchen, designed by Our Food Stories out of a refurbished old schoolhouse in the middle of the German countryside, is a total mood. Featuring deVol kitchen cupboards, tiles, shelves, light fixtures, hardware and more. This kitchen is certainly a showcase for the many of the pieces on my list of must-have kitchen tools – and of course, it does so beautifully.
This space immediately transports you to an idyllic rural retreat. I imagine walking through overgrown gardens, picking fresh roses and making multi-course Sunday lunches here.
I love how this kitchen keeps so many key kitchen tools close at hand. While I might not be doing quite as many open shelves at Hood Canal, there is a lot to be said for having key tools within arms reach.
There’s nothing that drives me crazier than a poorly outfitted kitchen. But an overcrowded kitchen can be equally crazy-making. You have to strike that balance.
For me, the key kitchen tools I turn to time and again include one good set of pots and pans, a cast iron skillet, a good set of wooden spoons and spatulas, a top notch cutting board (or several) and then all those little tools that you need when you’re in the middle of pulling together a recipe – measuring cups, knives, peelers, strainers, graters, zesters – all the speciality things that let you add the finer components of a dish.
Those speciality tools are the kinds of things that far too many kitchens lack. Or they’re the big bulky OXOX ones you get at a grocery store that feel chunky in my hand and will just clog up my limited drawer space in the new kitchen. She gonna be cute, but she’s not going to be big.
As the weeks have progressed, I’ve been slowly but surely amassing my ultimate kitchen wish-list. Each kitchen tool, appliance, or serving piece needs to have a very critical purpose and look damn good while doing it.
I thought I’d share my wishlist with you. It’s certainly not comprehensive. As I cook every evening some other thing in my San Francisco kitchen makes me think oh yes, I have to find the beautiful version of this for Hood Canal. But all the extraneous stuff I have in my SF kitchen also makes me want to pull my hair out. I’m constantly digging for my one favorite knife or pan or bowl.
I hope you find something below you’ve been searching for. If you spot a key kitchen tool that I’m still missing, please tell me in comments! I consider my ultimate quest to outfit the ideal kitchen.
I’m also regularly adding favorites for the kitchen in the Apartment 34 SHOP so be sure to check it out too!
all images by Our Food Stories
The post Everything You Need for Your Kitchen & Nothing More appeared first on Apartment34.
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Source: apartment34.com
Mia, 35 and her husband Luke, 36, earn a combined $200,000 per year. But after paying their mortgage and rental property loan, as well as car and student loans, child care, and other living expenses, the Los Angeles couple has a difficult time socking away money in savings.
They do have about $10,000 in a rainy day account, which could cover their expenses for about one month. But adding to the account has been proving difficult.
Luke feels confident that if they ever run into a serious financial bind, they could always take advantage of their low-interest home equity line of credit. But Mia isnât comfortable with that route. Sheâd prefer to have more cash on hand.
A bit more background on the couple and where they stand financially:
Luke recently transitioned to a new job as a government attorney, which he loves, but it also meant taking a 50% pay cut. Thatâs impacted their ability to spend and save as comfortably in recent months. It was an unexpected opportunity for which the couple wasnât financially prepared.
Mia and Luke would like an objective look at their finances to discover ways to reduce spending, increase saving and possibly find new revenue streams. âIâd love to figure out a side-hustle, so that I can eventually leave my job and spend more time with the kiddos,â says Mia, who works in marketing. Other goals including affording a new car in a couple of years and remodeling their primary residence.
Hereâs a closer look at their finances:
Income:
Debt:
Retirement:
Emergency Savings: $10,000
College Savings: The couple has 529 college savings funds for both of their children. They allocate their cash back rewards from credit cards towards these accounts. Currently they have about $10,000 saved for their 4-year old and $5,000 saved for their 1-year old child.
Top Monthly Spending Categories:
From my point of view, I think the biggest hole in Mia and Lukeâs finances is their rainy day savings bucket. Relying on a HELOC to cover an unexpected cost is not really an ideal plan. In theory, the money can be used to cover expenses and the interest rate would probably be far lower than the rate on a credit card. But in reality, tapping a HELOC means falling further into debt. They do have $10,000 saved, which is good. But itâs not great.
If not for an emergency, the savings can allow them to achieve other goals. The couple mentioned wanting to buy a car in a couple years. This will probably require a down payment. Having cash can also assist with renovating their home.
Here are my top three recommendations:
Their previous residence is now a rental property. It nets them about $500 per month. The couple is using this money to pad their living expenses. Can they, instead, move this into their savings account for the next few years? The way I see it, they should have a proper six month cushion in savings to tide them over in an emergency and/or if they need money to address their goals. This rental income isnât going to get them to this 6-month reserve too quickly, but itâs a start.
While I donât have a detailed breakdown of all of the familyâs monthly expenses, I can bet that they can pare their expenses to save an additional $300 to $500. A few dinners out, some unplanned purchases at the grocery store (because you took the kids) and a couple monthly subscription plans can easily add up to $500 in one month. Whenever I want to save more, I schedule money to transfer out of my checking and into savings at the top of the month. I do this automatically and only spend whatever money I have left. Iâd suggest doing this for the first month and seeing how it feels. Do you really notice the money is gone? If yes, revisit some of your recurring costs and decide on trade-offs. If Lukeâs salary has decreased by 50% then the couple needs to make some modifications to their spending. The math, otherwise, wonât add up.
Mia is interested in a side hustle, too, to bring in extra income (which I highly recommend). Sites like tutor.com, care.com, taskrabbit.com and others can help you find quick work within her preferred time frame. In the meantime, can she and her husband find ways to adjust their work hours or commute, which saves gas, time and money?
Miaâs commute to work is one hour each way. Thatâs ten hours per week stuck in a car. And my guess is that while Miaâs driving, sheâs paying for daycare, for at least some of those hours. Could she work from home one or two days per week to reduce her time in traffic, as well as her child care costs?
Bottom line: When Lukeâs income dropped by 50%, the couple didnât adjust spending. It may help to take pen to paper and imagine they were building their budget for the first time. Take all of their expenses off the table and rebuild the budget and lifestyle to better align with their adjusted income. Start with the absolute needs first: housing, insurance, food. And really scrutinize all other expenditures. Unless itâs an absolute need that they can easily afford it, consider shutting it off until theyâve reached a 6-month savings pad.
The post We Earn $200,000 and Canât Save. Help! appeared first on MintLife Blog.
Source: mint.intuit.com
If you have a special child in your life, you may be wondering what to put under the tree this year. One long-lasting and truly meaningful way to show the child in your life that you care is by taking a few minutes to set up a UGMA/UTMA account and give them a leg up in life.
The earlier you open a UGMA or UTMA account for a child, the longer your initial gift has to grow, thanks to the magic of compound interest. For example, investing just $5 a day from birth at an 8% return could make that child a millionaire by the age of 50. By setting up a UGMA/UTMA account, youâre really giving your beneficiary a present that grows all year round. Now, thatâs a gift theyâre sure to remember!
UGMA is an abbreviation for the Uniform Gifts to Minors Act. And UTMA stands for Uniform Transfers to Minors Act. Both UGMA and UTMA accounts are custodial accounts created for the benefit of a minor (or beneficiary).
The money in a UGMA/UTMA account can be used for educational expenses (like college tuition), along with anything that benefits the child – including housing, transportation, technology, and more. On the other hand, 529 plans can only be used for qualified educational expenses, like summer camps, school uniforms, or private school tuition and fees.
Itâs important to keep in mind that you cannot use UGMA/UTMA funds to provide the child with items that parents or guardians would be reasonably expected to provide, such as food, shelter, and clothing. Another important point is that when you set up a UGMA/UTMA account, the money is irrevocably transferred to the child, meaning it cannot be returned to the donor.
Tax advantages of a UGMA/UTMA account
The contributions you make to a UGMA/UTMA account are not tax-deductible in the year that you make the contribution, and they are subject to gift tax limits. The income that you receive each year from the UGMA/UTMA account does have special tax advantages when compared to income that you would get in a traditional investment account, making it a great tax-advantaged option for you to invest in the child you love.
Hereâs how that works. In 2020, the first $1,100 of investment income earned in a UGMA/UTMA account may be claimed on the custodianâsâ tax return, tax free. The next $1,100 is then taxed at the childâs (usually much lower) tax rate. Any income in excess of those amounts must be claimed at the custodianâs regular tax rate.
While thereâs no doubt that UGMA/UTMA accounts have several advantages and a place in your overall financial portfolio, there are a few things to consider before you open up a UGMA/UTMA account:
Many financial services companies and brokerages offer UGMA or UTMA accounts. One option is the Acorns Early program from Acorns. Acorns Early is a UGMA/UTMA account that is included with the Acorns Family plan, which costs $5 / month. Acorns Early takes 5 minutes to set up, and you can add multiple kids at no extra charge. The Acorns Family plan also includes Acorns Invest, Later, and Spend so you can manage all of the familyâs finances, from one easy app.
During a time where many of us are laying low this holiday season due to COVID-19, remember that presents donât just need to be a material possession your loved one unwraps, and then often forgets about. Give the gift of lasting impact through a UGMA/UTMA account.
The post Why UGMA/UTMA Accounts Are the Perfect Holiday Gift appeared first on MintLife Blog.
Source: mint.intuit.com
Due to financial consequences of COVID-19 â and the broader impact on our economy â now is an excellent time to consider refinancing most loans you have. This can include mortgage debt you have that may be converted to a new loan with a lower interest rate, as well as auto loans, personal loans, and more.
Refinancing student loans can also make sense if youâre willing to transition student loans you currently have into a new loan with a private lender. Make sure to take time to compare rates to see how you could save money on interest, potentially pay down student loans faster, or even both if you took the steps to refinance.
Get Started and Compare Rates Now
Still, itâs important to keep a close eye on policies and changes from the federal government that have already taken place, as well as changes that might come to fruition in the next weeks or months. Currently, all federal student loans are locked in at a 0% APR and payments are suspended during that time. This change started on March 13, 2020 and lasts for 60 days, so borrowers with federal loans can skip payments and avoid interest charges until the middle of May 2020.
Itâs hard to say what will happen after that, but itâs smart to start figuring out your next steps and determining if student loan refinancing makes sense for your situation. Note that, in addition to lower interest rates than you can get with federal student loans, many private student lenders offer signup bonuses as well. With the help of a lower rate and an initial bonus, you could end up far âaheadâ by refinancing in a financial sense.
Still, there are definitely some negatives to consider when it comes to refinancing your student loans, and weâll go over those disadvantages below.
Do you have student loan debt at a higher APR than you want to pay?
Do you have good credit or a cosigner?Â
Do you have federal student loans?
Are you willing to give up federal protections like deferment, forbearance, and income-driven repayment plans?
There are many reasons student borrowers ultimately refinance their student loans, although they can vary from person to person. Here are the main situations where it can make sense to refinance along with the benefits you can expect to receive:
While the reasons to refinance above are good ones, there are plenty of reasons you may want to pause on your refinancing plans. Here are the most common:
Before you move forward with student loan refinancing, there are some details you should know and understand. Here are our top tips and some important factors to keep in mind.
Because student loan refinancing is such a competitive industry, shopping around for loans based on their rates and terms can help you find out which lenders are offering the most lucrative refinancing options for someone with your credit profile and income.
We suggest using Credible to shop for student loan refinancing since this loan platform lets you compare offers from multiple lenders in one place. You can even get prequalified for student loan refinancing and âcheck your rateâ without a hard inquiry on your credit score.
Some student loan refinancing companies let you score a bonus of $100 to $750 just for clicking through a specific link to start the process. This money is free money if youâre able to take advantage, and you can still qualify for low rates and fair loan terms that can help you get ahead.
We definitely suggest checking with lenders that offer bonuses provided you can also score the most competitive rates and terms.
Also keep your personal eligibility in mind, including factors beyond your credit score. Most applicants who are turned down for student loan refinancing are turned away based on their debt-to-income ratio and not their credit score. Generally speaking, this means they owe too much money on all their debts when you compare their liabilities to their income.
Credible also notes that adding a creditworthy cosigner can improve your chances of prequalifying for a loan. They also state that âmany lenders offer cosigner release once borrowers have made a minimum number of on-time payments and can demonstrate they are ready to assume full responsibility for repayment of the loan on their own.â
Also, remember that you donât have to refinance all of your student loans. You can just refinance the loans at the highest interest rates, or any particular loans you believe could benefit from a different repayment term.
Once youâre ready to pull the trigger, there are four simple steps involved in refinancing your student loans.
Before you start the refinancing process, it helps to have all your loan information, including your student loan pay stubs, in one place. This can help you determine the total amount you want to refinance as well as the interest rates and payments you currently have on your loans.
From there, take the time to compare lenders in terms of the rates they can offer. You can use this tool to get the process started.
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Once youâve filled out basic information, you can choose among multiple loan offers. Make sure to check for signup bonus offers as well as interest rates, loan repayment terms, and interest rates you can qualify for.
Once you decide on a lender that offers the best rates and terms, you can move forward with your full student loan refinancing application. Your student loan company will ask for more personal information and details on your existing student loans, which they will combine into your new loan with a new repayment term and monthly payment.
Whether it makes sense to refinance your student loans is a huge question that only you can answer after careful thought and consideration. Make sure you weigh all the pros and cons, including what you may be giving up if youâre refinancing federal loans with a private lender.
Refinancing your student loans can make sense if you have a plan to pay them off, but this strategy works best if you create a debt repayment plan you can stick with for the long-term.
The post Should You Refinance Your Student Loans? appeared first on Good Financial Cents®.
Source: goodfinancialcents.com
The following is a guest post by Lisa Bigelow, a content writer for Bold.
When it comes to paying for college, the anxiety about how to leave college debt-free starts early. And for thousands of grads who are buckling under the weight of monthly student loan payments that can cost as much as a mortgage, that worry can last for as long as 25 years.
According to EducationData.org and The College Board, the cost of a private school undergraduate education can exceed $200,000 over four years. Think you can avoid a $100k+ price tag by staying in-state? Think againâmany public flagships can cost over $100,000 for residents seeking an undergraduate degree, including room and board. And with financial aid calculators returning eye-poppingly low awards, youâd better not get a second topping on your pizza.
In fact, youâd better hope that you can graduate on time.
The good news is that you can maintain financial health and get a great education at the same time. You wonât have to enroll as a full-time student and work 40 hours a week, eitherâeach of the methods suggested are attainable for anyone who makes it a priority to leave college debt-free.
Here are four practical ways you can leave college debt-free (and still get that second pizza topping).
Donât visit schools until you are certain you can afford them. Instead, prioritize the cost of attendance and how much you can afford to pay. Staying in-state is one easy way to do this. But if you have wanderlust and want to explore colleges outside state lines, an often-overlooked method of cutting the upfront cost is the regional tuition discount. Many US states participate in some form of tuition reciprocity or exchange programs. You can explore the full list of options at the National Association for Student Financial Aid Administrators website.
Letâs explore how this works. As a resident of a New England state, for example, you can study at another New England stateâs public university at a greatly reduced cost if your home stateâs public schools donât offer the degree you want. So, for example, if you live in Maine but want to go to film school, you can attend the University of Rhode Island and major in film using the regional tuition discount.
Some universities offer different types of regional discounts and scholarships that appear somewhat arbitrary. The University of Louisville (in Kentucky) includes Connecticut in its regional scholars program. And at the University of Nebraska, out-of-state admitted applicants are eligible for several thousand dollars in renewable scholarship money if they meet modest academic standards.
If you already have your heart set on an expensive school and youâre not likely to qualify for reciprocity, financial help, or merit aid, live at home and complete your first two years at your local community college.
Hereâs another fun fact: in some places, graduating from community college with a minimum GPA gives you automatic acceptance to the state flagship university.
When you enroll in a four-year college itâs pretty likely that youâll spend the first two years completing general education requirements and taking electives. Why not further reduce the cost of your education by completing some of those credits at your local community college, or by testing out?
Community college per-credit tuition is usually much cheaper than at four-year colleges, so take advantage of the lower rate in high school and over the summer after youâre enrolled in your four-year college.
But beware: youâll probably need at least a C to transfer the credits, so read your institutionâs rules first. Also, plan to take general education and low-level elective classes, because youâll want to take courses in your major at your four-year school.
If youâve been given the opportunity to take Advanced Placement courses, study hard for your year-end exams. Many colleges will accept a score of 3 or higher for credit, although some require at least a 4 (and others none at all). Take four or five AP classes in high school, score well on the exams, and guess what? Youâve just saved yourself a semester of tuition.
After taking steps one and two, you probably have a good idea of what the leftover expense will be if you want to leave college debt-free. Your next job is to figure out how to cut that total even more by using financial aid. There are four types to consider.
The first is called need-based aid. This is what youâll apply for when you complete your Free Application for Federal Student Aid. Known as the FAFSA, this is where youâll enter detailed financial information, and youâll need at least an hour the first time you complete this form. Hint: apply for aid as soon as the form opens in the fall. It is not a bottomless pot of money.
There is also medical-based financial aid. If you have a condition that could make employment difficult after graduating from college, you may be eligible, and qualifying is separate and apart from financial need and academic considerations.
The third type of aid relates to merit and is offered directly by colleges. Some schools automatically consider all accepted applicants for merit scholarships, which could relate to academics or community service or, in the case of recruited athletes, athletics. At other universities, youâll need to submit a separate scholarship application after youâve been admitted. Some merit awards are renewable for four years and others are only for one year.
If you didnât get need-based or merit-based aid then you still may qualify for a private scholarship. Some require essays, some donât, and some are offered by local community organizations such as rotary clubs, womenâs organizations, and the like. Donât turn your nose up at small-dollar awards, either, because they add up quickly and can cover budget-busting expenses such as travel and books.
Small-dollar awards really add up when you make finding easy money a priority. Consider using the following resources to help leave college debt-free:
Finally, if you have to take out a student loan, you may be able to have it forgiven if you agree to serve your community after graduation. The Peace Corps is one such way to serve, but if you have a specialized degree such as nursing, you can work in an underserved community and reap the rewards of loan forgiveness.
Lisa Bigelow writes for Bold and is an award-winning content creator, personal finance expert, and mom of three fantastic almost-adults. In addition to Credit.com, Lisa has contributed to The Tokenist, OnEntrepreneur, College Money Tips, Finovate, Finance Buzz, Life and Money by Citi, MagnifyMoney, Well + Good, Smarter With Gartner, and Popular Science. She lives with her family in Connecticut.
The post 4 Practical Ways to Leave College Debt-Free appeared first on Credit.com.
Source: credit.com