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At Solvable, we care about your financial well-being and are here to help. Our research, articles and ratings, and assessments are based strict editorial integrity. Our company gets compensated by partners who appear on our website. Here is how we get compensated.
At Solvable, we care about your financial well-being and are here to help. Our research, articles and ratings, and assessments are based strict editorial integrity. Our company gets compensated by partners who appear on our website. Here is
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In 2019, Solvable launched the Solvable Scholarship, to help the next generation of taxpayers start their journey of financial independence and freedom. To apply, students had to write an essay about what personal financial freedom meant to them, and received over 450 applications from students all over the country! Some wrote about budgeting, some about investing and some about how their financial struggles growing up have led them to prioritize and pursue financial independence. After a lot of contemplation, one entry stood out as exemplifying the values of Solvable – taking charge of your financial situation and helping others to do the same.
The winner of the 2019 Scholarship was Nicole Stoodley, from Southern Illinois University Carbondale. Read her essay below!
Solvable 2019 Scholarship Winning Essay
A college student can only eat so many bowls of ramen noodles or PBJ sandwiches, but those limits seem to extend when tuition and fees are due, rent needs paid, and the car is on its last leg. For many, college is the first time a person is thrust into the realm of financial responsibility. Not only is higher education expensive in a world that often requires degrees for career credentials, but life and all its associated costs do not pause for degree completion.
I am a graduate assistant in my university’s financial aid office. Day after day students are calling with questions about their school bills and looking for additional sources of aid. Many students take out federal loans each year, piling up debt for a future they are trying to excel in, ignorant of the effects of interest. I receive calls from students who have blown their refund checks within the first couple weeks of the semester, not realizing that money was supposed to last as income for the entire semester. I have been a guest presenter in first-year student seminars discussing the basics of personal finance: spending less, avoiding debt, and saving. Many say this is the first time they have formally been taught these lessons, the effects of which can drastically better prepare a student for financial freedom.
My background is in science education, but as I have pursued new options in higher education, teaching remains my passion while the content has changed. I have come to embrace that college students are not going to remember (or care about) the process of glycolysis or types of metamorphic rocks when they “go into the real world.” They want knowledge and skills on how to navigate life’s, responsibilities, which require a level of financial expertise.
My own experiences with financial freedom inspire me to teach others similar skills. I worry less and enjoy my time more when my needs are taken care of and am not stressed about being able to pay my bills each month. I have learned lessons about prioritizing expenses, reducing unnecessary spending, and preparing for financial stability decades in the future. I have tracked my spending on fast food, changed life habits, become healthier, and have money to now spend on traveling adventures that otherwise would have gone to McDonald’s sweet teas. I created short and long-term goals, am realistic with my income, and continue to expand my financial knowledge base with information on investing and healthcare. I strive to encourage students to also see the benefits of financial planning. I am honest when I say it takes time and critical thinking, but the effects are so worthwhile. Peace of mind is hard to put a price on.
Currently, for an internship I am developing curriculum and online instruction materials for the university’s financial literacy course. I have the opportunity to develop student learning objectives, the points most important for students to know. I am guaranteeing alignment between those objectives and the course’s instruction and collaborating with iGrad to create custom resources and programs for our students. Students in the course will practice authentic assessment, where the process and product are comparable and preparatory for their own financial endeavors. Students analyze their spending, create budgets, compare cost of living in different parts of the country, and reflect on their understanding of credit, loans, taxes, banking, and retirement, to name a few. This platform gives students the opportunity to evaluate their finances and improve their situations at a lower risk. Knowledge gained from the course initiates its own level of financial stability, and if students apply what they have learned they are well on their way to financial freedom.
I fully believe in educating the whole person. We would be failing students if we did not teach them anything other than their discipline’s content. Knowledge itself is freedom, and honing in on financial know-how is sure to support the success of our young generations.
Solvable is a for-profit company that helps customers resolve their tax problems, but a free service for consumers. Partners cannot pay us to guarantee favorable editorial reviews or ratings. We do not publish favorable (or unfavorable) editorial reviews or assessments at the direction of an advertiser or partner. We always work to put consumers first and do our best to provide value in meaningful ways, but our reviews are subjective.
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Solvable is compensated by some of the companies seen on our website. Most often, Solvable receives fees when one of our readers clicks, fills out a form, applies for, or receives a financial product from one of our partners. We also earn fees for capturing consumer stories and writing about them, displaying advertising, having our partners sponsor certain parts of the site, and writing content that may be relevant to our partner and their audience. This compensation may impact where products appear on this site, including article pages, comparison listings, the order in which they appear or if they will even appear on a given page, and our matching recommendations. Solvable has not written about, reviewed, or rated all financial products available to consumers.
In addition, we may be compensated in the following ways:
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Referrals to services that help consumers with tax resolution, tax preparation, tax audit help and other tax issues.
We do recommend that you shop around and compare services and costs with other companies while performing your own due diligence, especially since people’s experiences with companies can change over time.
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The offers that you are matched up with are from companies or attorneys/law firms that we may receive compensation from. Based on our initial review of such companies or individuals, we feel comfortable introducing them to our readers. We won’t recommend something just because we’re offered payment to endorse or promote it. However, we do recommend that you shop around and compare services and costs with other companies while performing you own due diligence, especially since people’s experiences with companies can change over time.
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We hope that you find Solvable helpful in your efforts to get a fresh start.
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There is no one-size fits all business loan. Rather there are several types that will likely be offered and or discussed with you upon completing your request. Business Funding Partners determine the underwriting criteria necessary for approval, you should review each Partner’s terms and conditions to determine which business funding option works for your business’s financial situation. All reasonable efforts are made to provide and maintain accurate information. All rates, fees, and terms are presented without guarantee and are subject to change pursuant to each Partner’s discretion. There is never a guarantee your business will be approved for credit or that upon approval your business will qualify for the advertised rates, fees, or terms shown. Lender terms and conditions will apply and all products may not be available in all states. Ask your loan representative for details.
Student Loan Refinancing Advertiser Disclosure
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Potential savings may vary based on the interest rates, balances and remaining repayment term of the loans you are seeking to refinance. Your overall repayment amount may be higher than the loans you are refinancing even if your monthly payments are lower. Variable rate options will fluctuate over the term of your loan with changes in the LIBOR (or other index utilized by the lender) rate, and will vary based on applicable terms and presence of a cosigner. Fixed interest rates may be based on applicable terms and presence of a co-signer. Additional terms and conditions, and rates are subject to change at any time without notice and may not be available in all states or for all types of current student loans. Such changes should only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Lenders are required to provide every potential borrower with disclosure information before they apply for a private student loan. The Lender you select is required to provide you with an Application Disclosure and an Approval Disclosure within the application process before you accept the terms and conditions of your loan. solvable is not a lender or creditor, it does not offer, extend or alter credit terms. Only participating lenders can perform the full application and deliver the required disclosures, please ask your lender about rates, terms, fees, and potential discounts that may be available for each product.
Please Note:
Certain federal and private student loans may not be eligible for consolidation/refinance.
Certain consolidation/refinance plans may result in higher monthly payments or negative consequences (i.e. prepayment penalties).
Consolidation/refinance may lead to other negative results, such as loss of grace periods.
Loans in default generally cannot be consolidated until completion of a repayment trial plan so tell your lender if you are in default and determine relevant options (be wary of those asking for upfront fees as well)
Other options or programs may fit your needs (i.e. personal loan, debt consolidation and/or debt relief). Consult your financial and/or tax advisor prior to making any decisions.
Solvable is not a creditor as it does not offer, extend or alter credit; rather it is an online market lead generator that allows consumers to shop and compare rates, terms and costs associated with financial products such as mortgages, auto loans, personal loans, student loans, etc. solvable does not originate or fund any product it markets; rather it has a network of lenders or Partners/affiliates. You may choose to speak with one or more of these lenders or Partners/affiliates to determine what your actual terms and savings may be. Only a lender can provide you with a formal application for credit, your inquiry form here is merely an expression of interest and/or intent to obtain credit or assistance. You must discuss your actual credit situation and fill out the lender’s required documents prior to obtaining an extension of credit. Network lenders may not have the best or the lowest rates so you are encouraged to continue to shop and compare additional lenders, credit unions, local financial institutions, etc. to ensure you are truly getting your best deal for your situation.
You should contact your tax professional or other financial advisor to determine if you can actually realize savings by refinancing when it can extend the life of your current loan. You should ask the lender about all terms, rates, fees and costs associated with each product and if you will realize a net tangible benefit from the same. All initial estimated savings is done by trying to calculate what your rate may be; however, solvable does not have that information and cannot guarantee potential savings or that lenders will approve you for such product that would warrant those savings. Rates are not guaranteed and change daily. Lenders/Brokers/Dealers/Partners that perform the actual underwriting will have to determine if you meet their underwriting criteria which is unknown to solvable at the time of matching/offer/quote delivery. All amounts are estimates and examples only and do not represent an actual offer.
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