Student Loan Hero is excited to once again award six scholarships to dedicated college students for the fall 2018 semester.
After carefully reviewing hundreds of applicants, our financial experts selected six recipients. Two students took home the main prize of $5,000 each, while four students won the runner-up prize of $2,000. A total of $18,000 was awarded.
All the recipients wowed us in different ways — by overcoming adversity, working hard toward goals, or showing great passion about their chosen fields. Check out this Student Loan Hero scholarship winner’s inspiring story.
Samiira Husein, University of Minnesota
Runner-up prize: $2,000
Born in Kenya to Somali parents, Samiira Husein immigrated to the United States before her first birthday. She lived with her mom and two siblings in a Minneapolis studio apartment while the family worked hard to establish roots.
Husein’s father was granted a visa to come to the U.S. when she was 5, but the family continued to struggle to build a new life. “There were many hungry nights and many school activities my siblings and I couldn’t attend, simply because my mom had no way of paying for it,” she said.
Yet Husein was encouraged by her mom’s example. Her mother worked two jobs and took English classes at night before later attending community college, which was paid for by her workplace.
This heavy emphasis on education pushed Husein to excel academically. She graduated high school with high honors and now attends the University of Minnesota, where she is majoring in environmental sciences, policy, and management. “My long-term goal is to be a key player in the environmental improvement of countries that don’t have resources like the United States,” she said.
“As a black, Muslim, immigrant woman who has experienced poverty, I have been underrepresented and marginalized, which is why I am determined to succeed,” said Husein.
Get ready for our spring 2019 scholarship contest
Congratulations to the winners of our fall 2018 scholarship contest! We wish them great success in their education and future careers.
If you’re a current college student or will be one soon, we invite you to apply to our spring 2019 Student Loan Hero $5K Scholarship contest. The application will be open from Aug. 13 to Oct. 15, and the recipients will be announced Nov. 16. We’re so excited to hear your stories and support your educational pursuits.
Check out the other five recipients of our fall 2018 scholarship:
- Renita Newton: $5,000
- LaTashia Reed: $5,000
- Anastasiia Caviston: $2,000
- Rachel Goldstein: $2,000
- Lissette Lomeli: $2,000
Want to start applying to scholarships today? Check out this useful guide to finding scholarships and learn about other awards for which you might qualify.
Need a student loan?Here are our top student loan lenders of 2019!
|2 Important Disclosures for College Ave.
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
(1)All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
(2)This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7% variable Annual Percentage Rate (“APR”): 96 monthly payments of $179.28 while in the repayment period, for a total amount of payments of $17,211.20. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
(3)As certified by your school and less any other financial aid you might receive. Minimum $1,000.
Information advertised valid as of 5/22/2019. Variable interest rates may increase after consummation.
* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.
3 = Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.
4 Important Disclosures for Discover.
5 Important Disclosures for SunTrust.
Before applying for a private student loan, SunTrust recommends comparing all financial aid alternatives including grants, scholarships, and both federal and private student loans. To view and compare the available features of SunTrust private student loans, visit https://www.suntrust.com/loans/student-loans/private.
Certain restrictions and limitations may apply. SunTrust Bank reserves the right to change or discontinue this loan program without notice. Availability of all loan programs is subject to approval under the SunTrust credit policy and other criteria and may not be available in certain jurisdictions.
©2019 SunTrust Banks, Inc. SUNTRUST, the SunTrust logo and Custom Choice Loan are trademarks of SunTrust Banks, Inc. All rights reserved.
6 Important Disclosures for LendKey.
7 Important Disclosures for CommonBond.
A government loan is made according to rules set by the U.S. Department of Education. Government loans have fixed interest rates, meaning that the interest rate on a government loan will never go up or down.
Government loans also permit borrowers in financial trouble to use certain options, such as income-based repayment, which may help some borrowers. Depending on the type of loan that you have, the government may discharge your loan if you die or become permanently disabled.
Depending on what type of government loan that you have, you may be eligible for loan forgiveness in exchange for performing certain types of public service. If you are an active-duty service member and you obtained your government loan before you were called to active duty, you are entitled to interest rate and repayment benefits for your loan.
A private student loan is not a government loan and is not regulated by the Department of Education. A private student loan is instead regulated like other consumer loans under both state and federal law and by the terms of the promissory note with your lender.
If your private student loan has a fixed interest rate, then that rate will never go up or down. If your private student loan has a variable interest rate, then that rate will vary depending on an index rate disclosed in your application. If the interest rate on the new private student loan is less than the interest rate on your government loans, your payments will be less if you refinance.
If you don’t pay a private student loan as agreed, the lender can refer your loan to a collection agency or sue you for the unpaid amount.
Remember also that like government loans, most private loans cannot be discharged if you file bankruptcy unless you can demonstrate that repayment of the loan would cause you an undue hardship. In most bankruptcy courts, proving undue hardship is very difficult for most borrowers.
8 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|3.99% – 11.32%2||Undergraduate, Graduate, and Parents|
|4.50% – 11.35%*,3||Undergraduate and Graduate|
|4.84% – 13.49%4||Undergraduate and Graduate|
|4.25% – 11.30%5||Undergraduate and Graduate|
|4.50% – 9.47%6||Undergraduate and Graduate|
|3.74% – 9.72%7||Undergraduate, Graduate, and Parents|
|4.45% – 12.32%8||Undergraduate, Graduate, and Parents|