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Improve your Debt-to-Income Ratio

If you can, try to pay off whatever debt you can. If you could wipe out a credit card, that means less debt you will paying every month. This will give you a better debt-to-income ratio.

If you have federal student loans, you can also enroll in an income-driven repayment plan or extended repayment plan to lower your monthly obligation.

Easier said than done, but you could also try to increase your income. If getting a raise or a better paying job isn’t possible, you can explore part-time jobs or side hustles to increase income. 

Apply with a Cosigner

Applying with a responsible cosigner with great credit could also help you get a better interest rate. But it’s a lot to ask for someone to cosign for you. This means that are completely responsible.

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Saving For College is an unbiased, independent resource for parents and financial professionals, providing them with information and tools to understand the benefits of 529 college savings plans and how to meet the challenge of increasing college costs.