Don’t have money to spend? You can send some of your student loans to your local bank and get a free $10,000 loan to pay for college from Chase Education Savings. Or you can take advantage of a special loan program offered by the Consumer Financial Protection Bureau that lets you use some of your student loan money to fund part or all of your college expenses.

Find more information about both ways to get more funding for college.

Are there loans available only to people who have a bachelor’s degree?

You may be one of the many Americans who take a college course, then fail to graduate or drop out, yet still have student loan debt. While it’s true your degree isn’t the only criteria, it’s often the first thing you consider when you’re applying for a student loan. Here’s how to avoid any problems from entering the student loan system.

If you qualify and can afford the education, the typical application fee for your student loan is less than $4,000. Most lenders don’t offer any interest rates higher than that, so your student loan is well-advised for the long term.

If it doesn’t go well, you can still get a loan to help with some expenses, like books, supplies or transportation if you don’t have enough cash.

Are there loans to help borrowers pay back their student loan balances?

It’s important to know if you have a student loan balance on the Education Department’s student loan website.

Unlike the “traditional” repayment plan for your federal loan that allows you to make payments each month, many student loan programs also allow you to pay back them each quarter. The good news for you, though, is that it’s typically much easier to pay off your student loans in order of how much you owe than the way the government does it. Because the government doesn’t have a formal interest rate, the monthly payments generally cost closer to 10 percent of what you owe than the rate you would pay without the federal repayment plan.

How do I make sure my student loan payments qualify for federal tax credits?

Federal government and public sector loan programs do have rules for the tax credits that they offer to students. You may need to make payments or defer payments each quarter to get federal tax credits.

Learn more about student loan requirements, deadlines and other helpful articles from the official NALP guide.

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