Smart Borrower No-Essay Scholarship & Loan Forgiveness Grant

Overview

Most Bold.org students already carry significant student debt, or they soon will.

60% of Bold.org students say that, to continue their education, they expect to need private loans in addition to any federal aid they receive, expecting to need an additional $40,000, on average.

Of Bold.org students that already have loans, the average interest rate is 6.5%, on the high end of the interest rate range typically available to students.

Unfortunately, student loans are an extremely difficult world to navigate, and one wrong decision can set you back years.

For a 10-year $40,000 loan at 6.5% interest, reducing that interest rate to 3% means saving nearly $100 a month in loan payments, and saving nearly $10,000 in reduced interest over the lifetime of the loan!

Getting your loans right is one of the most important financial decisions you can make as a student.

To help you get the best loan rates possible, we’ve partnered with Credible, a platform that lets you compare rates for new loans and loan refinances, to make sure you’re getting the best possible deal.

We recommend Credible because it’s free, doesn’t affect your credit score, and shows you pre-qualified loan rates in minutes.

This scholarship, like other easy scholarships currently open on Bold.org, will favor students who apply earlier—who are bold and seize the day without procrastinating.

While the scholarship will be awarded on Feb 1, 2021, the scholarship will have rolling monthly application deadlines. Students applying within earlier application windows will have a greater chance of winning the award.

How To Apply

This $5,000 scholarship will be awarded to a student who makes the effort to get the best rates on their loans via Credible’s loan comparison platform, using the links below.

• If you expect you’ll need a private loan in the future, compare your interest rates for new loans.
• If you already have a loan, compare your loan refinancing rates.

Be sure to check your rates before applying! Applications from students who have not checked their rates will not be considered.