Heidi Rivera is a personal finance writer and reporter for Bankrate. Her areas of expertise include personal loans, student loans and debt consolidation, in addition to data collection and analysis. Heidi started covering personal finance topics in late 2018 and her work has been featured in several publications, including Money, MSN Money, Yahoo Finance and Money Under 30.
Before working in finance, Heidi spent several years in post production, working as a subtitle editor for different TV and film studios.
When she isn’t giving her best financial advice, Heidi enjoys spending time with her cats, crafting and pinning home decor ideas on Pinterest.
Before applying for any loan product, make sure you understand how the APR (annual percentage rate) works and how it accrues. I certainly didn’t know this when I took out private student loans in college and was surprised to see how much my balances had grown once I graduated. If possible, make interest payments even when you’re in your grace period — this can make a world of difference in the long run.
The Alliant Credit Union personal loan is an excellent choice for individuals who have a respectable income and a strong credit history. It offers the advantage of no fees and no repercussions for settling your outstanding amount ahead of schedule.
EarnIn can help you tide things over until your next paycheck by providing cash advances of up to $750, without fees.
A SoFi personal loan is great for those with a decent income and good credit. There are no fees and no penalty for paying off your balance early.
MoneyLion’s Instacash feature is a cost-effective alternative to payday loans, as it comes with no fees and you can borrow up to $500 at any time.
The debt avalanche method is a good way to tackle multiple debts.
Student loan payment resumption has recently had a notable impact on borrowers’ financial security. President Biden’s new proposal aims to alleviate the distress faced by those struggling with loan [...]
Personal loan deferment may be your best option. Find out if it’s right for you.
The Biden administration continues to push for student loan forgiveness options.