Student Loans: Making Education Possible
by Jim Kesel
Whether you choose to become a doctor, a lawyer, a nurse, or whatever profession, applying for student loans can make your dream come true. Getting into college is tough, made even tougher by the seemingly exorbitant tuition fees and other expenses needed to complete a degree. It is because of these financial demands that people become deeply discouraged and give up their dream of a college education. There really is no reason to become discouraged there are many opportunities to get student loans. If you do a good job of research you will find one that will meet your needs.
There are many student loans packages out there to fit every student's financial need. To search for the best one, a student may consider contacting the college or university they are applying to for financial assistance. Counselors will have the latest information on grants, scholarships and student loans. You can also to a search on line to find what is currently available. The most common, and perhaps also the most affordable options for student loans are the federal student loans. The federal student loans have lower interest rates than personal loans, and they may come in the form of federal Stafford loans or federal PLUS loans, and Perkins loan.
With the federal Stafford loans, which may be subsidized (based on need) or unsubsidized (no-need-based), one does not need to make loan payments while still in school. On the other hand, federal PLUS loans which stand for Parent Loans for Undergraduate Students, are student loans granted to parents in behalf of their children.
Usually, the federal subsidized Stafford loan provides the best option for any student in deep financial need. In this type of loan, the government assumes the interest repayment until the student has already graduated and becomes able to make normal repayments of the loan. The federal unsubsidized Stafford loan is the kind of loan in which the student himself is responsible in paying the interest accrued during the course of the program. In both cases, credit check is not required. In addition interest from student loans generally tax deductable. This will become very important once you have graduated and beginning to make loan payments. It is wise to seek student loan consolidation advice from a professional a year prior to graduating.
The other type of federal loan is Perkins loan. Perkins loan is offered to students who greatly need financial help. The amount of loan ranges from $1,000 to $4,000. A good feature about this kind of loan is that there is a nine-month grace period after graduation for the borrower to start making his payments.
There is also another type of student loan which one can turn to in the event that the federal loans can not meet all of the required expenses. This particular type of student loan is called private student loan. It is often the best alternative to bank loans. Private student loans are credit-based, however, so if one desires to apply for this type of loan, he must have an acceptable credit rating. If the student does not have a credit record a student loan can be acquired through the use of a co-signer that does have a relatively good credit score.
In any case as you can plainly see there really is no financial reason for not attending college. Student grants, scholarships and loans all make getting your degree a reality.
วันศุกร์ที่ 29 กุมภาพันธ์ พ.ศ. 2551
The College Student Loan Consolidation
The College Student Loan Consolidation
by Janice Banker
A lot of extra debt from several different sources may be the result of failing to graduate college in the planning amount of time. When a student faces the prospect of taking out a consolidation loan he may wonder if it is worthwhile in terms of sorting out education debt.
Many financial institutions recommend using a consolidation loan as a last resort only if your current lenders can't increase the repayment period. If this is your situation, here's how a college student loan consolidation can help you.
Benefitting from a College Student Loan Consolidation
Weigh all the pros and cons of a college student loan consolidation. If getting a loan will assist you in accomplishing your educational goals, then it is reasonable to at least consider consolidating your loans. On the other hand, if a loan will only help you in the short term, then it may not be a suitable choice.
One good thing about a consolidation loan is the interest rates. It is common for you to obtain an excellent rate on a consolidation loan. These start from about 1.25% and, as this will lower your monthly repayments by combining all debts, a great interest rate will mean cheaper repayments for the entire term of the loan.
A college student loan consolidation service will mean that all your debts are in one manageable place. You won't lose track of what payments need to go where, thus saving precious time for your studies. We all know that time and organization are important elements for students. Whenever you can free up more of your time and energy to focus on your studies you stand to get more benefit from your education.
A consolidation loan taken out for educational purposes is often classified as "good debt". If all payments are made on time to the lenders, your credit rating will get a real boost which will help to pave your way for financial freedom in the future.
by Janice Banker
A lot of extra debt from several different sources may be the result of failing to graduate college in the planning amount of time. When a student faces the prospect of taking out a consolidation loan he may wonder if it is worthwhile in terms of sorting out education debt.
Many financial institutions recommend using a consolidation loan as a last resort only if your current lenders can't increase the repayment period. If this is your situation, here's how a college student loan consolidation can help you.
Benefitting from a College Student Loan Consolidation
Weigh all the pros and cons of a college student loan consolidation. If getting a loan will assist you in accomplishing your educational goals, then it is reasonable to at least consider consolidating your loans. On the other hand, if a loan will only help you in the short term, then it may not be a suitable choice.
One good thing about a consolidation loan is the interest rates. It is common for you to obtain an excellent rate on a consolidation loan. These start from about 1.25% and, as this will lower your monthly repayments by combining all debts, a great interest rate will mean cheaper repayments for the entire term of the loan.
A college student loan consolidation service will mean that all your debts are in one manageable place. You won't lose track of what payments need to go where, thus saving precious time for your studies. We all know that time and organization are important elements for students. Whenever you can free up more of your time and energy to focus on your studies you stand to get more benefit from your education.
A consolidation loan taken out for educational purposes is often classified as "good debt". If all payments are made on time to the lenders, your credit rating will get a real boost which will help to pave your way for financial freedom in the future.
วันเสาร์ที่ 23 กุมภาพันธ์ พ.ศ. 2551
Using Nelnet Student Loans To Pay For Your Degree
Using Nelnet Student Loans To Pay For Your Degree
by Jim Kesel
Attending any university is an expensive proposition. One way of getting through college is through the Nelnet student loans program. Everyone wishes he or she had a college education. In fact, seldom can you find a parent who is not interested in putting his son or daughter through university or college. Some parents even plan ahead by securing college education by investing into special education plans for their children. However many parents just do not have the ability to do so. A good alternative funding source for college is a student loan such as the Nelnet student loans program.
Nelnet is a financial company located in Lincoln, Nebraska, nationally recognized in the US as an outstanding education and finance company. It offers college students and graduates, high quality student loans products, particularly, Nelnet student loans. Nelnet also has a wide range of software products that enable it to extend loans to the students.
There are two kinds of Nelnet student loans that the company offers. The first is the Federal Consolidation Loan Program, and the other is the Private Consolidation Program. The Federal Consolidation Loan Program is an option given to graduates for easier management of their account. This program allows the graduate to consolidate or repackage all his federal student loans, such as the subsidized Stafford loan, unsubsidized Stafford loan, PLUS loan, Grad PLUS loan, and Perkins loan, into a single loan, thus making it more manageable and easier to cope.
Other advantages of this program include fixed interest rate and lower monthly payments. Plus, there are no fees, nor credit checks required. The only requirement to quality for this particular Nelnet student loans consolidation program is that one must have at least $30,000 of existing federal student loans.
An alternative to this type of Nelnet student loans program is the Nelnet Private Consolidation Loan Program. The Nelnet Private Consolidation Loan Program differs from the Federal Consolidation Program in that it is offered to families who need more educational funding, aside from the one granted by federal loan programs. This type of program is largely credit-based, and it has a stricter set of guidelines for eligibility into the program.
Specifically, in order to qualify to this program, one needs to be a citizen of the United States, or a resident alien at least, or he must have a co-borrower who is a US citizen or a resident alien himself, either of whom must have an annual income of at least $15,000. Also, Nelnet must acknowledge the last school of attendance as an eligible school. Bankruptcies, liens or delinquencies on other loans, as well as history of student loan default, will automatically disqualify one from entering the program.
A great advantage of this program is that the low interest rates, though variable, are competitive. Also, there are no application fees required, nor pre-payment penalties. Prior to applying for any student loan it would be wise to seek qualified student loan consolidation advice from you're your university or college. Adjustable rate loans do have increase risks over the life of the loan that could cost you considerably more money than a higher interest fixed rate loan.
by Jim Kesel
Attending any university is an expensive proposition. One way of getting through college is through the Nelnet student loans program. Everyone wishes he or she had a college education. In fact, seldom can you find a parent who is not interested in putting his son or daughter through university or college. Some parents even plan ahead by securing college education by investing into special education plans for their children. However many parents just do not have the ability to do so. A good alternative funding source for college is a student loan such as the Nelnet student loans program.
Nelnet is a financial company located in Lincoln, Nebraska, nationally recognized in the US as an outstanding education and finance company. It offers college students and graduates, high quality student loans products, particularly, Nelnet student loans. Nelnet also has a wide range of software products that enable it to extend loans to the students.
There are two kinds of Nelnet student loans that the company offers. The first is the Federal Consolidation Loan Program, and the other is the Private Consolidation Program. The Federal Consolidation Loan Program is an option given to graduates for easier management of their account. This program allows the graduate to consolidate or repackage all his federal student loans, such as the subsidized Stafford loan, unsubsidized Stafford loan, PLUS loan, Grad PLUS loan, and Perkins loan, into a single loan, thus making it more manageable and easier to cope.
Other advantages of this program include fixed interest rate and lower monthly payments. Plus, there are no fees, nor credit checks required. The only requirement to quality for this particular Nelnet student loans consolidation program is that one must have at least $30,000 of existing federal student loans.
An alternative to this type of Nelnet student loans program is the Nelnet Private Consolidation Loan Program. The Nelnet Private Consolidation Loan Program differs from the Federal Consolidation Program in that it is offered to families who need more educational funding, aside from the one granted by federal loan programs. This type of program is largely credit-based, and it has a stricter set of guidelines for eligibility into the program.
Specifically, in order to qualify to this program, one needs to be a citizen of the United States, or a resident alien at least, or he must have a co-borrower who is a US citizen or a resident alien himself, either of whom must have an annual income of at least $15,000. Also, Nelnet must acknowledge the last school of attendance as an eligible school. Bankruptcies, liens or delinquencies on other loans, as well as history of student loan default, will automatically disqualify one from entering the program.
A great advantage of this program is that the low interest rates, though variable, are competitive. Also, there are no application fees required, nor pre-payment penalties. Prior to applying for any student loan it would be wise to seek qualified student loan consolidation advice from you're your university or college. Adjustable rate loans do have increase risks over the life of the loan that could cost you considerably more money than a higher interest fixed rate loan.
วันศุกร์ที่ 22 กุมภาพันธ์ พ.ศ. 2551
Consolidating Student Loans Online
Consolidating Student Loans Online
by Budi Hartato
Student loan consolidation refers to wrapping all your student loans into a
single loan with one lender and one repayment plan. You can plan to
consolidate your loan like refinancing a home mortgage. The time you
consolidate your loan, the balances of your other current loans are paid off,
with the total balance playing over into one consolidated loan. Here are the top 5 benefits of student loan consolidation: 1. Lower monthly payments By consolidating all your student loans into one loan, you only need to pay off one loan monthly instead of several student loans monthly. Thus, your monthly payment is lower. 2. Pay only one loan monthly instead of several student loans monthly It is a lot easier if you have to manage only one student loan instead of several student loans with different payment deadlines. Also, sometimes with many student loans, you may end up forgetting to pay one student loan. 3. Low, fixed interest rate By consolidating your student loans, you will be able to take advantages of low, fixed interest rates 4. No credit check or processing fees No credit check is required during the application of a student loan
consolidation.
The payment plans and terms are usually quite flexible in that
they can customize it according to your financial standing. 5. Make monthly student loan payment electronically While it is not necessary to make payment electronically, using direct debit
from your bank account will prevent you from forgetting to make a payment. (
Fort Lauderdale, FL 2/08/2008 01:19 AM GMT (TransWorldNews) Applying for an individual student loan can lower the interest rate because
places offer incentives to use them for the loan. Some companies offer a
lower rate for having the monthly payment automatically deducted from your
account. There is also a benefit by making so many consecutive payments, on
time, and that showing will lower the interest rate. This of course will make
your payoff amount decrease since more money will go to the principle instead
of interest.
Having a single student loan can help your credit rating because of how your credit score is figured. Part of the score is made up of how many outstanding
debts you have as well as the total amount due to each. Getting a student
consolidation loan will give you a higher loan amount due but only for one
loan and not the several others that you currently may have. Thus, your score will go up and even get better as you pay off that loan.
It will not be an instantaneous fix as credit companies can take up to six
months to report a drop of a loan off your report. But if you don't use your
credit unwisely in this time period your score will raise and when you do
apply for something at later time you can possibly get a lower interest rate
for that loan as well. Which will have you making lower payments on that item
and help you pay off that loan faster too? (Darnell Scott: Fort Lauderdale, FL (PRWeb) January 25, 2007 -- By utilizing the most secure
online school loan consolidation system, Student Financial Advisors is able
to offer up to 1.85% off of the student's effective interest rate for Federal
student loan consolidation. "We are utilizing technology to securely streamline the process of consolidating student loans, but at the same time we are using that
technology to help people understand the entire student loan consolidation
process," Peter Restivo, Vice President of Marketing said. The rate discount breaks down like this; first of all by consolidating while still in their grace period, students can receive a .60% rate discount. Next, Student Financial Advisors offers .25% off of the effective interest rate for students who sign up for automatic check withdrawal. Lastly, after only 36 on time payments, Student Financial Advisors will take an additional 1.00% off of the effective interest rate, for a total of a 1.85% rate reduction. "We here at Student Financial Advisors have created the Student Loan
Consolidation Information Center to help people find the answers to all of
their questions pertaining to the consolidation of federal student loans,"
said Peter Restivo, Vice President of Customer Relations. Before applying for any student loan consolidation, a student has to do some research in determining which student consolidation loan is suitable for him/her. Here are some pointers which you can take into consideration before taking out a student loan consolidation:
1. Credit Rating It is important to know your credit score since it is a major factor indetermining whether you get the student consolidation loan. If your rating is over 660, then you should not have any problems getting a loan. If however
your credit rating is less than 600, you might want to evaluate ways to
improve your credit score first. Your credit rating will also determine the interest rate you have to pay for your consolidation loan. The higher the credit score, the lower the interest
rate.
2. Interest Rate Even though you can get lower interest rate with a student consolidation loan, the repayment period is usually longer. In the long run, you actually pay more for your loans. My advise would be to research for lenders who can allow you to upgrade your payment when you can afford it. For example, you may not
be able to repay much when you are still a student, but once you have a job
and have a regular income, it will be best to clear the loan as soon as
possible.
3. Income minus Expenses You need to evaluate your current income minus your expenses to determineyour net income surplus each month. Analysis your expenses to see if you can reduce or eliminate any. (Ricky Lim: about-studentloan.com) Summary: Before you make decision to use student loan consolidation, you should
evaluate what we'll get, interest rate, credit rating etc. After you gets
information thus you make a decision how you'll consolidate your student debt
loan on line or off line.
by Budi Hartato
Student loan consolidation refers to wrapping all your student loans into a
single loan with one lender and one repayment plan. You can plan to
consolidate your loan like refinancing a home mortgage. The time you
consolidate your loan, the balances of your other current loans are paid off,
with the total balance playing over into one consolidated loan. Here are the top 5 benefits of student loan consolidation: 1. Lower monthly payments By consolidating all your student loans into one loan, you only need to pay off one loan monthly instead of several student loans monthly. Thus, your monthly payment is lower. 2. Pay only one loan monthly instead of several student loans monthly It is a lot easier if you have to manage only one student loan instead of several student loans with different payment deadlines. Also, sometimes with many student loans, you may end up forgetting to pay one student loan. 3. Low, fixed interest rate By consolidating your student loans, you will be able to take advantages of low, fixed interest rates 4. No credit check or processing fees No credit check is required during the application of a student loan
consolidation.
The payment plans and terms are usually quite flexible in that
they can customize it according to your financial standing. 5. Make monthly student loan payment electronically While it is not necessary to make payment electronically, using direct debit
from your bank account will prevent you from forgetting to make a payment. (
Fort Lauderdale, FL 2/08/2008 01:19 AM GMT (TransWorldNews) Applying for an individual student loan can lower the interest rate because
places offer incentives to use them for the loan. Some companies offer a
lower rate for having the monthly payment automatically deducted from your
account. There is also a benefit by making so many consecutive payments, on
time, and that showing will lower the interest rate. This of course will make
your payoff amount decrease since more money will go to the principle instead
of interest.
Having a single student loan can help your credit rating because of how your credit score is figured. Part of the score is made up of how many outstanding
debts you have as well as the total amount due to each. Getting a student
consolidation loan will give you a higher loan amount due but only for one
loan and not the several others that you currently may have. Thus, your score will go up and even get better as you pay off that loan.
It will not be an instantaneous fix as credit companies can take up to six
months to report a drop of a loan off your report. But if you don't use your
credit unwisely in this time period your score will raise and when you do
apply for something at later time you can possibly get a lower interest rate
for that loan as well. Which will have you making lower payments on that item
and help you pay off that loan faster too? (Darnell Scott: Fort Lauderdale, FL (PRWeb) January 25, 2007 -- By utilizing the most secure
online school loan consolidation system, Student Financial Advisors is able
to offer up to 1.85% off of the student's effective interest rate for Federal
student loan consolidation. "We are utilizing technology to securely streamline the process of consolidating student loans, but at the same time we are using that
technology to help people understand the entire student loan consolidation
process," Peter Restivo, Vice President of Marketing said. The rate discount breaks down like this; first of all by consolidating while still in their grace period, students can receive a .60% rate discount. Next, Student Financial Advisors offers .25% off of the effective interest rate for students who sign up for automatic check withdrawal. Lastly, after only 36 on time payments, Student Financial Advisors will take an additional 1.00% off of the effective interest rate, for a total of a 1.85% rate reduction. "We here at Student Financial Advisors have created the Student Loan
Consolidation Information Center to help people find the answers to all of
their questions pertaining to the consolidation of federal student loans,"
said Peter Restivo, Vice President of Customer Relations. Before applying for any student loan consolidation, a student has to do some research in determining which student consolidation loan is suitable for him/her. Here are some pointers which you can take into consideration before taking out a student loan consolidation:
1. Credit Rating It is important to know your credit score since it is a major factor indetermining whether you get the student consolidation loan. If your rating is over 660, then you should not have any problems getting a loan. If however
your credit rating is less than 600, you might want to evaluate ways to
improve your credit score first. Your credit rating will also determine the interest rate you have to pay for your consolidation loan. The higher the credit score, the lower the interest
rate.
2. Interest Rate Even though you can get lower interest rate with a student consolidation loan, the repayment period is usually longer. In the long run, you actually pay more for your loans. My advise would be to research for lenders who can allow you to upgrade your payment when you can afford it. For example, you may not
be able to repay much when you are still a student, but once you have a job
and have a regular income, it will be best to clear the loan as soon as
possible.
3. Income minus Expenses You need to evaluate your current income minus your expenses to determineyour net income surplus each month. Analysis your expenses to see if you can reduce or eliminate any. (Ricky Lim: about-studentloan.com) Summary: Before you make decision to use student loan consolidation, you should
evaluate what we'll get, interest rate, credit rating etc. After you gets
information thus you make a decision how you'll consolidate your student debt
loan on line or off line.
วันพฤหัสบดีที่ 21 กุมภาพันธ์ พ.ศ. 2551
Latest Student Loan Advise Revealed
Latest Student Loan Advise Revealed
by Sara El
It is really interesting to be in college but many students find it financially difficult without student loans. I'm not referring to your books and Tuition alone as there are many more financial challenges that come with college education. Imagine the number of payments you will be making if you have quit living with your parents. Student loans come in very handy at a point where students find it tiring to combine school with heavy bills.
At the beginning, a student may find it difficult to get one of these student loans. Depending on which would be more convenient, the student may apply for either the private or federal student loans.
Be ready to work hard to get this loan because there are certain requirements involved. These loans consist of two kinds; the federal and the private ones.
You can be sure of low interest rates when you get the Federal student loans because of the government's backing.
Your interest rates can come in 2 forms- subsidized and unsubsidized. In the case of subsidized student loans, there is absolutely no increase on original rates as long as the student is still registered with these schools.
What this means is that you can be sure that no interest is accumulating while you are still enrolled in school.
It's not the same with the unsubsidized loans because interest rates will keep accumulating even if you are still enrolled in school. If the student can't pay this accrued interest immediately it will keep adding to the original amount, even though the student will be given more time to pay off. Don't just fold your arms because you won't get a federal loan without filling a FAFSA form.
A profile application may be necessary for the college scholarship services. Don't worry about payments because filing a FAFSA form is completely free and the others may require a small fee.
by Sara El
It is really interesting to be in college but many students find it financially difficult without student loans. I'm not referring to your books and Tuition alone as there are many more financial challenges that come with college education. Imagine the number of payments you will be making if you have quit living with your parents. Student loans come in very handy at a point where students find it tiring to combine school with heavy bills.
At the beginning, a student may find it difficult to get one of these student loans. Depending on which would be more convenient, the student may apply for either the private or federal student loans.
Be ready to work hard to get this loan because there are certain requirements involved. These loans consist of two kinds; the federal and the private ones.
You can be sure of low interest rates when you get the Federal student loans because of the government's backing.
Your interest rates can come in 2 forms- subsidized and unsubsidized. In the case of subsidized student loans, there is absolutely no increase on original rates as long as the student is still registered with these schools.
What this means is that you can be sure that no interest is accumulating while you are still enrolled in school.
It's not the same with the unsubsidized loans because interest rates will keep accumulating even if you are still enrolled in school. If the student can't pay this accrued interest immediately it will keep adding to the original amount, even though the student will be given more time to pay off. Don't just fold your arms because you won't get a federal loan without filling a FAFSA form.
A profile application may be necessary for the college scholarship services. Don't worry about payments because filing a FAFSA form is completely free and the others may require a small fee.
วันอังคารที่ 19 กุมภาพันธ์ พ.ศ. 2551
Use Citi Bank Student Loans To Complete Your Education
Use Citi Bank Student Loans To Complete Your Education
by Jim Kesel
If you are looking for a way to get into college without having to sell car or rob a bank, you may want to consider applying for one of Citi Bank student loans. Citi Bank is an internationally known bank, with clients coming from the different parts of the world. Its financial standing worldwide can not at all be simply ignored. In fact, in terms of holdings, Citi Bank has been recognized as one of the largest banks in the United States.
So, if you are applying for a student loan, there is no better choice than Citi Bank . Citi Bank student loans enable students to fulfill his dreams of a college education without going to extremes or too much of a hassle. For some going to college is, after all, a very stressful experience in itself. Adding to the stress are the normal expenses every student must pay including tuition, books, miscellaneous fees, lodging, and the like. Many students, in fact, become so stressed that they drop out of college altogether as a result of money concerns. There really is no reason to quit as there are many options that a student can use to get their diploma.
One such option is a student loan at a financial institution. Citi Bank is just one of many financial institutions that have both public and private loan packages available. In addition to the usual federal subsidized and unsubsidized loans, Citi Bank offers private student loans, through its CitiAssist Loan Program. This particular City Bank student loans program is fitted for all types of students, graduates or non-graduates, and even high school students.
Getting into and apply for the CitiAssist Loan Program is relatively easy and convenient. If you have a legitimate address in the United States and an internet connection, you may even do this online, and you are guaranteed a credit response in just three minutes. You also have available the traditional way of applying at any Citi Bank branch office.
To qualify to the CitiAssist Loan Program, you must be presently enrolled in college, or at the very least, accepted by a university and planning to attend a normal undergraduate program at an accredited school in the United States. Good academic performance is not required of a student to be eligible to the program, but a favorable credit rating may work as an advantage in having your application approved.
An advantage of the CitiAssist Loan Program is that it does not have loan limits. You can borrow as much as the actual cost of the attending school at very competitive interest rates. Payments are deferred while still in school or during the grace period of six months upon graduation, but they are encouraged because early and consistent repayments can significantly lower the interest rate. Further, this program offers a twenty-year period repayment term which can help reduce your monthly payments. All of which allows you to have more spendable income available when you first enter the job market.
If you have multiple student loans you may want to seek some student loans consolidation advice. Consolidating your student loans with a Citi Bank loan may save you a lot of money over the life of the loan.
Do not give up on attending school just because of financial worries. Contact Citi Bank student loans department on line and make an application. You may be surprised how easy and affordable your education can be.
by Jim Kesel
If you are looking for a way to get into college without having to sell car or rob a bank, you may want to consider applying for one of Citi Bank student loans. Citi Bank is an internationally known bank, with clients coming from the different parts of the world. Its financial standing worldwide can not at all be simply ignored. In fact, in terms of holdings, Citi Bank has been recognized as one of the largest banks in the United States.
So, if you are applying for a student loan, there is no better choice than Citi Bank . Citi Bank student loans enable students to fulfill his dreams of a college education without going to extremes or too much of a hassle. For some going to college is, after all, a very stressful experience in itself. Adding to the stress are the normal expenses every student must pay including tuition, books, miscellaneous fees, lodging, and the like. Many students, in fact, become so stressed that they drop out of college altogether as a result of money concerns. There really is no reason to quit as there are many options that a student can use to get their diploma.
One such option is a student loan at a financial institution. Citi Bank is just one of many financial institutions that have both public and private loan packages available. In addition to the usual federal subsidized and unsubsidized loans, Citi Bank offers private student loans, through its CitiAssist Loan Program. This particular City Bank student loans program is fitted for all types of students, graduates or non-graduates, and even high school students.
Getting into and apply for the CitiAssist Loan Program is relatively easy and convenient. If you have a legitimate address in the United States and an internet connection, you may even do this online, and you are guaranteed a credit response in just three minutes. You also have available the traditional way of applying at any Citi Bank branch office.
To qualify to the CitiAssist Loan Program, you must be presently enrolled in college, or at the very least, accepted by a university and planning to attend a normal undergraduate program at an accredited school in the United States. Good academic performance is not required of a student to be eligible to the program, but a favorable credit rating may work as an advantage in having your application approved.
An advantage of the CitiAssist Loan Program is that it does not have loan limits. You can borrow as much as the actual cost of the attending school at very competitive interest rates. Payments are deferred while still in school or during the grace period of six months upon graduation, but they are encouraged because early and consistent repayments can significantly lower the interest rate. Further, this program offers a twenty-year period repayment term which can help reduce your monthly payments. All of which allows you to have more spendable income available when you first enter the job market.
If you have multiple student loans you may want to seek some student loans consolidation advice. Consolidating your student loans with a Citi Bank loan may save you a lot of money over the life of the loan.
Do not give up on attending school just because of financial worries. Contact Citi Bank student loans department on line and make an application. You may be surprised how easy and affordable your education can be.
วันอาทิตย์ที่ 17 กุมภาพันธ์ พ.ศ. 2551
Student Loan Payment Options
Student Loan Payment Options
by Evelyn Saunders
If you have a high amount of student loans that you are struggling to pay off, then you may have questions about how to handle it. There are provisions with most types of student loans that allow you to defer payments or adjust payments to meet your needs. Check with your lender for specifics. Here, we will discuss common options when it comes to paying down your student loans.
If you are really in over your head and have considered bankruptcy, be prepared. Bankruptcy is not an option for federal student loans. They will not go away or be discharged even if you are filing bankruptcy. You do have some options though. You can apply to change the pay off terms of your student loans. Instead of struggling to pay them off in ten years, you can stretch them out to thirty years. This, of course, would end up costing you more interest in the long run, but it could relieve the stress of large monthly payments. If you're missing payments because they're too high, then it will end up costing you more anyway, not to mention that you can ruin your credit by missing payments.
Filing bankruptcy with a private student loan is not any better. There is a provision for undue hardship, but the standards are extremely hard to meet. If you can meet the requirements, then it is possible to get a private student loan discharged. This provision is very rarely awarded. You should consider different ways of paying off your student loans if possible.
One option is to talk to your lender about a graduated repayment plan. This plan allows you to start out at low payments that steadily increase over time. This gives you some time to build your income up to a point where you can afford the larger payments. Payments are figured generally once every two years, so you have some time to prepare when the payments increase.
Another option is setting up an income based repayment plan. This plan uses your adjusted gross income each year to figure the payment that you can afford. The payment is based also on the size of the loan. How many members you have in your family is also taken into consideration. Many find this a very effective way to budget for student loan payments.
In times of extreme hardship, you may qualify to defer your loan payments. This doesn't mean that they are discharged or gone, but simply put off until a later date. Many types of student loans will not have interest accruing during the deferment period. If you don't qualify for deferment, you may qualify for forbearance. Forbearance is like deferment, in that you can postpone payments for a set length of time. Unlike deferment, forbearance options do accumulate interest during the period that you are not making payments.
In general, you should try to pay off your student loans whenever you come into extra money. All debts need to be taken seriously and you should always pay as much as you can afford. If you are in some trouble and need to change the terms or put off monthly payments for a while, contact the custodian of the loan. Manage it well, and you can be on your way to paying off your student loans.
by Evelyn Saunders
If you have a high amount of student loans that you are struggling to pay off, then you may have questions about how to handle it. There are provisions with most types of student loans that allow you to defer payments or adjust payments to meet your needs. Check with your lender for specifics. Here, we will discuss common options when it comes to paying down your student loans.
If you are really in over your head and have considered bankruptcy, be prepared. Bankruptcy is not an option for federal student loans. They will not go away or be discharged even if you are filing bankruptcy. You do have some options though. You can apply to change the pay off terms of your student loans. Instead of struggling to pay them off in ten years, you can stretch them out to thirty years. This, of course, would end up costing you more interest in the long run, but it could relieve the stress of large monthly payments. If you're missing payments because they're too high, then it will end up costing you more anyway, not to mention that you can ruin your credit by missing payments.
Filing bankruptcy with a private student loan is not any better. There is a provision for undue hardship, but the standards are extremely hard to meet. If you can meet the requirements, then it is possible to get a private student loan discharged. This provision is very rarely awarded. You should consider different ways of paying off your student loans if possible.
One option is to talk to your lender about a graduated repayment plan. This plan allows you to start out at low payments that steadily increase over time. This gives you some time to build your income up to a point where you can afford the larger payments. Payments are figured generally once every two years, so you have some time to prepare when the payments increase.
Another option is setting up an income based repayment plan. This plan uses your adjusted gross income each year to figure the payment that you can afford. The payment is based also on the size of the loan. How many members you have in your family is also taken into consideration. Many find this a very effective way to budget for student loan payments.
In times of extreme hardship, you may qualify to defer your loan payments. This doesn't mean that they are discharged or gone, but simply put off until a later date. Many types of student loans will not have interest accruing during the deferment period. If you don't qualify for deferment, you may qualify for forbearance. Forbearance is like deferment, in that you can postpone payments for a set length of time. Unlike deferment, forbearance options do accumulate interest during the period that you are not making payments.
In general, you should try to pay off your student loans whenever you come into extra money. All debts need to be taken seriously and you should always pay as much as you can afford. If you are in some trouble and need to change the terms or put off monthly payments for a while, contact the custodian of the loan. Manage it well, and you can be on your way to paying off your student loans.
See How Easy Student Loans For The Undergraduate Really Are
See How Easy Student Loans For The Undergraduate Really Are
by Michael Blair
Some of those on their way to college have nothing to worry about. Their parents have more than enough money and they are willing to fork over any amount so their children can go to any university they want. But for many who are on their way to college it is not so simple.
There are several sources of student loans for the undergraduate. Federally funded programs and private lending programs are available to help those who want to further their education.
The first step is to get an idea of the amount of financing you'll need to go to school. The school you're planning to attend will have a financial aid department. All schools will have different requirements when it comes to tuition, books, and other fees that may be present. You'll also need to consider living expenses if you're not planning to work while you attend school.
All of these preparations, including the applications for student loans for the undergraduate, should start 6 - 9 months before the school begins and the bills start pilling up. Even with the power of the Internet the lenders likely need things from you that need to be mailed to them "snail mail".
This is especially true if you're planning to apply for federally funded loans. The application and approval process can take months. Don't delay once you've made the decision to start school. Get in touch with the financial aid department and begin the process as soon as possible.
Some of the available Federal student loans for the undergraduate are loans such as Perkins and Stafford loans. The financial aid office at your school can help you with them and point you in the right direction. When applying for financial aid, i.e. student loans or grants, your local financial aid office will usually have you start with an FAFSA application, with that you may find that there are grants available for your situation.
If you don't qualify for federal programs it may be time to look into private student loans for the undergraduate studies. Where as with federal loans they don't check on your credit history, private lenders will check it. But they also allow co-signers so it may not be quite so bad.
The repayment of your student loan is also something to think about. Student loans allow you to defer repayment of the loan for 6 mos. - 1 year after graduation, or as long as you are a full time student. Where as the governmental loan tend to offer a number of repayment plans, private student loan lender are less flexible.
To recap, get in touch with the financial aid office at your college, for student loans for the undergraduate, grants, or other financing, they will be the best place to get the process started.
Although private loans are an option, there are many options, Federal student loans, grants, work study programs, and more, start looking there first.
by Michael Blair
Some of those on their way to college have nothing to worry about. Their parents have more than enough money and they are willing to fork over any amount so their children can go to any university they want. But for many who are on their way to college it is not so simple.
There are several sources of student loans for the undergraduate. Federally funded programs and private lending programs are available to help those who want to further their education.
The first step is to get an idea of the amount of financing you'll need to go to school. The school you're planning to attend will have a financial aid department. All schools will have different requirements when it comes to tuition, books, and other fees that may be present. You'll also need to consider living expenses if you're not planning to work while you attend school.
All of these preparations, including the applications for student loans for the undergraduate, should start 6 - 9 months before the school begins and the bills start pilling up. Even with the power of the Internet the lenders likely need things from you that need to be mailed to them "snail mail".
This is especially true if you're planning to apply for federally funded loans. The application and approval process can take months. Don't delay once you've made the decision to start school. Get in touch with the financial aid department and begin the process as soon as possible.
Some of the available Federal student loans for the undergraduate are loans such as Perkins and Stafford loans. The financial aid office at your school can help you with them and point you in the right direction. When applying for financial aid, i.e. student loans or grants, your local financial aid office will usually have you start with an FAFSA application, with that you may find that there are grants available for your situation.
If you don't qualify for federal programs it may be time to look into private student loans for the undergraduate studies. Where as with federal loans they don't check on your credit history, private lenders will check it. But they also allow co-signers so it may not be quite so bad.
The repayment of your student loan is also something to think about. Student loans allow you to defer repayment of the loan for 6 mos. - 1 year after graduation, or as long as you are a full time student. Where as the governmental loan tend to offer a number of repayment plans, private student loan lender are less flexible.
To recap, get in touch with the financial aid office at your college, for student loans for the undergraduate, grants, or other financing, they will be the best place to get the process started.
Although private loans are an option, there are many options, Federal student loans, grants, work study programs, and more, start looking there first.
วันเสาร์ที่ 9 กุมภาพันธ์ พ.ศ. 2551
Cheap Student loans - Helping Students Reach Their Goals
Cheap Student loans - Helping Students Reach Their Goals
by LizaMathers
Cheap student loans are undoubtedly helpful for students who intend to finish their studies or pursue higher education but unfortunately find it hard to do so due to financial problems.
The price of education, however, continues to rise and, sad to say, not everyone can readily afford to spend money for it. It is therefore everybody’s delight that the government has taken into consideration students belonging to those families with weak financial standing and has found ways in which to help them. Hence, we now have student loans that will aid students (regardless of their financial standing) in their pursuit for higher education.
The following are grants that the government offers to students. Other non-credit organizations likewise offer help by providing cheap student loans for those with a bad credit rating.
Stafford Loans
There are two routes provided by Stafford loans: there’s the subsidized loan and the unsubsidized one. Try as much as possible to get a subsidized loan. This is because interest of these student loans is paid for by the government, which means thousands of dollars of savings for you in repayment costs. However, if you are unable to do so, try paying your loan interest before you graduate. This will decrease the total amount of payables significantly, reducing your monthly payments.
These cheap student loans both work on the same concept and the limitation that loans applied will be on a limited amount. Cheap student loans of this kind are granted to students with bad credit standing. And students are granted the loan depending on their financial needs. Because loans granted through Stafford loans are normally of miniscule amount, students try to avail of multiple loans. Everybody is aware that getting a loan with a bad credit rating is a difficult task. It’s a good thing that Stafford loans are available for students.
Perkins Loans
Undergraduate as well as graduate students consider the Perkins loans as one of the best among cheap student loans. For the education program, loans awarded by this grant do no exceed $20,000. Because this is in essence a federal award, loans awarded do not go beyond $1000 to $4000 annually. The good thing about the Perkins loan is that it accepts payment terms even after one has graduated and ten whole years for the loan amount to be fully repaid.
Non-credit Based Loans
Student loans are likewise provided by other financial institutions. Like other student loans, non-credit based cheap loans are made for needy students who are at the critical point of almost completing their education. Availing of these kinds of student loans can be very exhaustive though. It is therefore advised to plan ahead and prepare one’s application and requirements way before the time you think you’ll be needing the money.
Cheap student loans, especially for those worrying about bad credit, are one of the best alternatives for those unfortunate ones who need funding for their education. Choosing and evaluating the loan that best works for your personal finance needs is also essential.
by LizaMathers
Cheap student loans are undoubtedly helpful for students who intend to finish their studies or pursue higher education but unfortunately find it hard to do so due to financial problems.
The price of education, however, continues to rise and, sad to say, not everyone can readily afford to spend money for it. It is therefore everybody’s delight that the government has taken into consideration students belonging to those families with weak financial standing and has found ways in which to help them. Hence, we now have student loans that will aid students (regardless of their financial standing) in their pursuit for higher education.
The following are grants that the government offers to students. Other non-credit organizations likewise offer help by providing cheap student loans for those with a bad credit rating.
Stafford Loans
There are two routes provided by Stafford loans: there’s the subsidized loan and the unsubsidized one. Try as much as possible to get a subsidized loan. This is because interest of these student loans is paid for by the government, which means thousands of dollars of savings for you in repayment costs. However, if you are unable to do so, try paying your loan interest before you graduate. This will decrease the total amount of payables significantly, reducing your monthly payments.
These cheap student loans both work on the same concept and the limitation that loans applied will be on a limited amount. Cheap student loans of this kind are granted to students with bad credit standing. And students are granted the loan depending on their financial needs. Because loans granted through Stafford loans are normally of miniscule amount, students try to avail of multiple loans. Everybody is aware that getting a loan with a bad credit rating is a difficult task. It’s a good thing that Stafford loans are available for students.
Perkins Loans
Undergraduate as well as graduate students consider the Perkins loans as one of the best among cheap student loans. For the education program, loans awarded by this grant do no exceed $20,000. Because this is in essence a federal award, loans awarded do not go beyond $1000 to $4000 annually. The good thing about the Perkins loan is that it accepts payment terms even after one has graduated and ten whole years for the loan amount to be fully repaid.
Non-credit Based Loans
Student loans are likewise provided by other financial institutions. Like other student loans, non-credit based cheap loans are made for needy students who are at the critical point of almost completing their education. Availing of these kinds of student loans can be very exhaustive though. It is therefore advised to plan ahead and prepare one’s application and requirements way before the time you think you’ll be needing the money.
Cheap student loans, especially for those worrying about bad credit, are one of the best alternatives for those unfortunate ones who need funding for their education. Choosing and evaluating the loan that best works for your personal finance needs is also essential.
Having A Student Loans Can Ruin Your Personal Credit
Having A Student Loans Can Ruin Your Personal Credit
by Robert Bain
Do you know how student loans you own affect your personal credit? If you aren't sure or you haven't thought about it you need to have all the facts. Everything with it isn't as cut and dried as the lenders would like you to believe. Of course student loans are a very good way to pay for college if you have no other options. You just don't want to complete your degree and owe a large sum of money.
ust because you are eligible for a set amount of money under a student loan program, that doesn't mean you should access all of it. Many people do though and they use the extra money for living expenses, to purchase frivolous items, or to take a vacation. The less money you borrow for school the better off you will be. Your finances will also be in better shape.
For those students that go to college right after high school, they may not have too much information about their credit at all. Many of them don't even have any established so they haven't given it too much thought. However, this concept can prove to be a very serious mistake. A person can pay for it years into the future at the mercy of lenders. They may need a co-signer or they may have to pay high rates of interest to obtain any type of credit.
If you can't meet the obligations of your student loans you need to be very responsible about it. Find out about applying for a hardship or for getting a temporary deferment. Payments can be reduced for a period of time to help out as well. If you simply avoid the issue that you owe them though you may find yourself dealing with a collection agency that isn't very friendly at all.
Still, getting those arrangements made aren't going to solve your issues. When you owe money for student loans it shows up on your credit report. If you aren't showing a regular payment history on the balance the lenders are going to be very wary about loaning you any money. It is just too high of a risk for them.
Don't get yourself wrapped up in owing so much money that it takes you ten or more years to pay off the student loans. It is going to lower your creditworthiness and therefore affect all other aspects. Pay all you can each month towards eliminating that debt in full. A low payment means you will have to pay on it longer and have to spend more on interest. Give up some luxuries and apply the extra to the loans.
Be very careful with student loans so that you don't end up in a bad situation. Your personal credit isn't something to take lightly. Know how much money you need as well as what it is going to take to pay it all back. Only turn to student loans as a last resort for paying for your education.
Student loans can be a viable option for completing your educational goals. Just make sure you understand the long term effects on your personal credit. Schedule an appointment with a financial aid counselor at the college so you can be sure you know all of your options.
by Robert Bain
Do you know how student loans you own affect your personal credit? If you aren't sure or you haven't thought about it you need to have all the facts. Everything with it isn't as cut and dried as the lenders would like you to believe. Of course student loans are a very good way to pay for college if you have no other options. You just don't want to complete your degree and owe a large sum of money.
ust because you are eligible for a set amount of money under a student loan program, that doesn't mean you should access all of it. Many people do though and they use the extra money for living expenses, to purchase frivolous items, or to take a vacation. The less money you borrow for school the better off you will be. Your finances will also be in better shape.
For those students that go to college right after high school, they may not have too much information about their credit at all. Many of them don't even have any established so they haven't given it too much thought. However, this concept can prove to be a very serious mistake. A person can pay for it years into the future at the mercy of lenders. They may need a co-signer or they may have to pay high rates of interest to obtain any type of credit.
If you can't meet the obligations of your student loans you need to be very responsible about it. Find out about applying for a hardship or for getting a temporary deferment. Payments can be reduced for a period of time to help out as well. If you simply avoid the issue that you owe them though you may find yourself dealing with a collection agency that isn't very friendly at all.
Still, getting those arrangements made aren't going to solve your issues. When you owe money for student loans it shows up on your credit report. If you aren't showing a regular payment history on the balance the lenders are going to be very wary about loaning you any money. It is just too high of a risk for them.
Don't get yourself wrapped up in owing so much money that it takes you ten or more years to pay off the student loans. It is going to lower your creditworthiness and therefore affect all other aspects. Pay all you can each month towards eliminating that debt in full. A low payment means you will have to pay on it longer and have to spend more on interest. Give up some luxuries and apply the extra to the loans.
Be very careful with student loans so that you don't end up in a bad situation. Your personal credit isn't something to take lightly. Know how much money you need as well as what it is going to take to pay it all back. Only turn to student loans as a last resort for paying for your education.
Student loans can be a viable option for completing your educational goals. Just make sure you understand the long term effects on your personal credit. Schedule an appointment with a financial aid counselor at the college so you can be sure you know all of your options.
วันพุธที่ 6 กุมภาพันธ์ พ.ศ. 2551
Private Student Loans to Help Pay for College
Private Student Loans to Help Pay for College
by Evelyn Saunders
Besides loan scholarships offered by the individual colleges, among the many other student loan options available to pay for tuition are Perkins Loans, Stafford Loans, the Federal Direct Loan Program, Parent PLUS Loans, Graduate PLUS Loans, Consolidation Loans, private loans or alternative loans, and work study loans.
If you have qualified for a scholarship or a federally funded grant or loan, you still may need more cash to pay your school bills. Private student loans offered by some banks and other private lenders may find you that money. Lenders offering alternative student loans for college financial aid and private loan consolidation can be found through various websites on the internet. However, before tapping into private student loans, you should almost always maximize your borrowing from federal loans first. The interest rates on federal student loans are limited to a relatively low percentage. Private loans are at higher interest rates. Quite often the interest on private loans may be capitalized which means it will be added to the loan principal. Depending on the number of times this is charged during the length of your loan, this will increase the amount of money ultimately borrowed.
Approval and terms for private student loans are based on your credit history. If you have no credit or your credit rating is bad, you might need a co-signer to qualify for this loan. A higher interest rate on your loan usually accompanies a poor or minimal credit record. Additionally, fees and penalties can be higher than with government-backed loans. And your repayment terms may not be as favorable. Because of these conditions, taking out a private loan should be used as a last resort and keeping it only as a small portion of your financial aid portfolio would be smart.
Another option to consider for getting more money for tuition is work study programs. These part-time jobs are assigned by your school. They are for both undergraduate and graduate students and can be right on campus or off campus. The jobs off campus may require relevance to your major or public interest. Wages are determined by the difficulty and required skills involved and start at the miniumum wage rate. The number of hours you may work is determined by your need, how early you apply and total amount of work study funding at your school.
As mentioned earlier, there is helpful information available about private student loans on the internet. Visit www.student-loans.net where you can research student loan companies and compare what is offered and involved with each option. Sometimes the choices can be overwhelming. This site will help you with the process. It also contains helpful tips for students and information about campus life.
by Evelyn Saunders
Besides loan scholarships offered by the individual colleges, among the many other student loan options available to pay for tuition are Perkins Loans, Stafford Loans, the Federal Direct Loan Program, Parent PLUS Loans, Graduate PLUS Loans, Consolidation Loans, private loans or alternative loans, and work study loans.
If you have qualified for a scholarship or a federally funded grant or loan, you still may need more cash to pay your school bills. Private student loans offered by some banks and other private lenders may find you that money. Lenders offering alternative student loans for college financial aid and private loan consolidation can be found through various websites on the internet. However, before tapping into private student loans, you should almost always maximize your borrowing from federal loans first. The interest rates on federal student loans are limited to a relatively low percentage. Private loans are at higher interest rates. Quite often the interest on private loans may be capitalized which means it will be added to the loan principal. Depending on the number of times this is charged during the length of your loan, this will increase the amount of money ultimately borrowed.
Approval and terms for private student loans are based on your credit history. If you have no credit or your credit rating is bad, you might need a co-signer to qualify for this loan. A higher interest rate on your loan usually accompanies a poor or minimal credit record. Additionally, fees and penalties can be higher than with government-backed loans. And your repayment terms may not be as favorable. Because of these conditions, taking out a private loan should be used as a last resort and keeping it only as a small portion of your financial aid portfolio would be smart.
Another option to consider for getting more money for tuition is work study programs. These part-time jobs are assigned by your school. They are for both undergraduate and graduate students and can be right on campus or off campus. The jobs off campus may require relevance to your major or public interest. Wages are determined by the difficulty and required skills involved and start at the miniumum wage rate. The number of hours you may work is determined by your need, how early you apply and total amount of work study funding at your school.
As mentioned earlier, there is helpful information available about private student loans on the internet. Visit www.student-loans.net where you can research student loan companies and compare what is offered and involved with each option. Sometimes the choices can be overwhelming. This site will help you with the process. It also contains helpful tips for students and information about campus life.
วันจันทร์ที่ 4 กุมภาพันธ์ พ.ศ. 2551
Education Loans: Give Wings To Your Dreams
Education Loans: Give Wings To Your Dreams
by Johns Tiel
Availing quality education is getting costlier day by day. However getting education remains a priority most the parents and dreaming spire student. To them, education loans have been designed to take the difficulty out of the borrowing process by providing an easy application process, quick reply and funding delivered straight to borrowers. Since commercial market of the UK is just flooded with different sorts of education lending options. And for fast processing, these provisions are being offered through online too these days.
Construction of Education Loans has been planned keeping in view the rising cost of education. Tuition, books, food and lodging, transportation, computer availing cost etc., are some of the general expenditures of students going in educational institutions. To assist with any and all of these potential financial pitfall, these loans for education is kept flexible supplement to students to help cover the as mentioned expenses.
However for better financial feasibility, these money provisions have been categorized into secured and unsecured formats. Obtaining the former i.e., secured form, candidates are required to arrange collateral as of security of these money provisions. Meanwhile, the latter, unsecured forms of education loans, borrowers need not place any valuable asset.
Availing cost of education loan provision varies person to person and lender to lender. There are many factors which affect the dealing of these loans. However interest paid upon education loans can be fixed or variable. It is important to know which you are signing up for. A fixed rate will remain the same through the term of this loan. On the other hand, variable rates are subjected to change at any point of time under the financial feasibility of the borrowers. this is a good sign that when rates are falling, it can be worrying if rates go up and you need to find more money than expected to make your repayments.
by Johns Tiel
Availing quality education is getting costlier day by day. However getting education remains a priority most the parents and dreaming spire student. To them, education loans have been designed to take the difficulty out of the borrowing process by providing an easy application process, quick reply and funding delivered straight to borrowers. Since commercial market of the UK is just flooded with different sorts of education lending options. And for fast processing, these provisions are being offered through online too these days.
Construction of Education Loans has been planned keeping in view the rising cost of education. Tuition, books, food and lodging, transportation, computer availing cost etc., are some of the general expenditures of students going in educational institutions. To assist with any and all of these potential financial pitfall, these loans for education is kept flexible supplement to students to help cover the as mentioned expenses.
However for better financial feasibility, these money provisions have been categorized into secured and unsecured formats. Obtaining the former i.e., secured form, candidates are required to arrange collateral as of security of these money provisions. Meanwhile, the latter, unsecured forms of education loans, borrowers need not place any valuable asset.
Availing cost of education loan provision varies person to person and lender to lender. There are many factors which affect the dealing of these loans. However interest paid upon education loans can be fixed or variable. It is important to know which you are signing up for. A fixed rate will remain the same through the term of this loan. On the other hand, variable rates are subjected to change at any point of time under the financial feasibility of the borrowers. this is a good sign that when rates are falling, it can be worrying if rates go up and you need to find more money than expected to make your repayments.
Student Loans - For People with Bad Credit
Student Loans - For People with Bad Credit
by Bryan Burbank
It is easier to get a Student Loan if you super A+ credit but it is very possible to get one if you currently have Bad Credit. Everyone from time to time has an issue that may lead them to get behind on a credit card or loan and this can cause you to have delinquencies on your credit report. Don't let that deter you in finding a lender that will get you approved for a great student loan even with Bad Credit.
A lot of people will get discouraged with having bad credit and may even think that it will mean that they will not get to go to college, but it is very possible to get a student loan with bad credit. A good example is a Stafford or Perkins Loan, they assume that you do not have credit yet and it is much easier to obtain than a standard bank loan. If you have had problems getting denied in the past from a government loan service then you may have more problems, but usually they can be overcome.
A traditional bank loan is usually harder to obtain so first you should try to obtain federal funding to get you through school, it can be much easier to obtain and is more specific for colleges. They are also many other money options that can be obtainable for you through federal programs.
A last resort is always your parents. Your parents can co-sign a loan for you or get one in their name and you can make the payments on it. This may not be the first choice for you, but keep your options open and do your research so you can be successful in your college life.
by Bryan Burbank
It is easier to get a Student Loan if you super A+ credit but it is very possible to get one if you currently have Bad Credit. Everyone from time to time has an issue that may lead them to get behind on a credit card or loan and this can cause you to have delinquencies on your credit report. Don't let that deter you in finding a lender that will get you approved for a great student loan even with Bad Credit.
A lot of people will get discouraged with having bad credit and may even think that it will mean that they will not get to go to college, but it is very possible to get a student loan with bad credit. A good example is a Stafford or Perkins Loan, they assume that you do not have credit yet and it is much easier to obtain than a standard bank loan. If you have had problems getting denied in the past from a government loan service then you may have more problems, but usually they can be overcome.
A traditional bank loan is usually harder to obtain so first you should try to obtain federal funding to get you through school, it can be much easier to obtain and is more specific for colleges. They are also many other money options that can be obtainable for you through federal programs.
A last resort is always your parents. Your parents can co-sign a loan for you or get one in their name and you can make the payments on it. This may not be the first choice for you, but keep your options open and do your research so you can be successful in your college life.
วันอาทิตย์ที่ 3 กุมภาพันธ์ พ.ศ. 2551
Defaulted Student Loans: Don't Take Them Lightly
Defaulted Student Loans: Don't Take Them Lightly
by Wade Robins
One of the terms you agree to when you accept a student loan is that you will be required to start repaying your loan either when your status as a full-time student changes, or at some specified point following your graduation. If you reach either of those milestones and do not make your required loan repayments, you will have defaulted on your student loans. And having defaulted student loans on your credit history can negatively affect your financial future for years, so you should avoid defaulting if at all possible.
The inclusion of defaulted student loans on your credit history will be a red flag for all future lenders to whom you apply for loans, be they automobile loans, home mortgages, or credit cards. Your defaulted student loans are a sign that you are not serious about your financial obligations, and you may not realize that having a poor credit rating can result in your not qualifying for certain jobs. You can even be turned down for some types of insurance, or by some landlords, if your credit rating is poor.
As unfair as it may seem, your credit score has a direct and significant effect on your quality of life. Having a record of defaulted student loans can not only interfere with your finding a job, housing, or insurance; it could end with your being sued for repayment and having to pay back not only what you owe on the loans but accumulated interest and penalties as well.
Defaulted Student Loans Will Cost You Dearly
You may think that because you are still young, and have plenty of time to build your credit record so that the defaulted student loans do not weigh so heavily against it, you will not be adversely affected for very long. But simply because of those defaulted student loans your opportunities to prove yourself creditworthy with other lenders are apt to be few and far between, so you need to figure out how to get rid of the defaults as quickly as you can.
Your Solutions
The first line of defense against defaulted student loans is simply to pay your payments consistently and on time. But if you have a legitimate financial crisis which eliminates this option, there are alternatives available to help you avoid defaulting.
You should definitely investigate your student loan deferral options, which is designed expressly to let your extend your repayment grace period during times of financial difficulty, or in other situations which may make repayment difficult, as long as they are not of your doing.
If, you see the possibility of defaulted student loans in your future, you should let your lender know before you start missing your payments. Contact the board of education in your state to find out if there are any payment deferral options. If a student loan consolidation will help, investigate the possibilities. You may find that by consolidating your student loans you will lower your total monthly payments, so that the possibility of having to default disappears.
Defaulted student loans will be a black mark on your financial history for years to come, so do whatever you can to get your repayment plan under control!
by Wade Robins
One of the terms you agree to when you accept a student loan is that you will be required to start repaying your loan either when your status as a full-time student changes, or at some specified point following your graduation. If you reach either of those milestones and do not make your required loan repayments, you will have defaulted on your student loans. And having defaulted student loans on your credit history can negatively affect your financial future for years, so you should avoid defaulting if at all possible.
The inclusion of defaulted student loans on your credit history will be a red flag for all future lenders to whom you apply for loans, be they automobile loans, home mortgages, or credit cards. Your defaulted student loans are a sign that you are not serious about your financial obligations, and you may not realize that having a poor credit rating can result in your not qualifying for certain jobs. You can even be turned down for some types of insurance, or by some landlords, if your credit rating is poor.
As unfair as it may seem, your credit score has a direct and significant effect on your quality of life. Having a record of defaulted student loans can not only interfere with your finding a job, housing, or insurance; it could end with your being sued for repayment and having to pay back not only what you owe on the loans but accumulated interest and penalties as well.
Defaulted Student Loans Will Cost You Dearly
You may think that because you are still young, and have plenty of time to build your credit record so that the defaulted student loans do not weigh so heavily against it, you will not be adversely affected for very long. But simply because of those defaulted student loans your opportunities to prove yourself creditworthy with other lenders are apt to be few and far between, so you need to figure out how to get rid of the defaults as quickly as you can.
Your Solutions
The first line of defense against defaulted student loans is simply to pay your payments consistently and on time. But if you have a legitimate financial crisis which eliminates this option, there are alternatives available to help you avoid defaulting.
You should definitely investigate your student loan deferral options, which is designed expressly to let your extend your repayment grace period during times of financial difficulty, or in other situations which may make repayment difficult, as long as they are not of your doing.
If, you see the possibility of defaulted student loans in your future, you should let your lender know before you start missing your payments. Contact the board of education in your state to find out if there are any payment deferral options. If a student loan consolidation will help, investigate the possibilities. You may find that by consolidating your student loans you will lower your total monthly payments, so that the possibility of having to default disappears.
Defaulted student loans will be a black mark on your financial history for years to come, so do whatever you can to get your repayment plan under control!
วันเสาร์ที่ 2 กุมภาพันธ์ พ.ศ. 2551
Graduate School Loans: Advancing Toward Your Advanced Degree
Graduate School Loans: Advancing Toward Your Advanced Degree
by Wade Robins
While only thirty years ago a four year college degree was enough to get you into good job in your chosen profession, times have definitely changed. Now having a Bachelor's Degree may be good for an entry level job in a field you love, but if you want to break into the upper levels of your profession, and advanced degree is almost certainly required.
And certain careers, especially those in law and medicine, have always demanded several years of graduate study. Yet the grants, and scholarships readily available to college undergraduates seem to evaporate when one is looking for a way to fund graduate school. Graduate student loans, it seems, are the best way for the financially challenged to pay for their graduate degrees.
Stafford Loans
Fortunately, the Federal government does understand the need for graduate level study, and offers the Stafford Loans program to provide a variety of graduate student loans. All you need do is complete a free application for student aid, or FAFSA loan, and then decide which loan avenue to pursue.
You may find Stafford graduate student loans administered by the graduate schools to which you are applying, but they are granted by the government. One big advantage to accepting a Stafford graduate student loan is that you will be allowed a six month grace period following your graduation before you need to start your payments.
The Federal Stafford graduate student loan program is also administered privately by banks and other commercial lending institutions. If the government accepts your application for this Stafford loan, you will be given a list of their approved lenders. Only those students who have not defaulted on any other student loans are eligible for Stafford graduate student loans, so if you have an earlier loan hanging over you, you need to clear it up if you want to fund your graduate school career with a Stafford loan.
If your income is low enough, you may have the interest on your graduate student loans subsidized by the government. What this means is that as long as you are enrolled in graduate school, you will not be responsible for the interest on your loan.
If your income level is too high, however, the interest on your graduate student loans will accumulate and be included in the principal which you need to repay. This means that both the total of your loan, and your payments, will increase. You will be able to take out Stafford graduate student loans totaling $50,000, spread out over the time you remain in graduate school.
Private Loans
If you are ineligible for a Stafford loan, you can always look for a private one, but your success will depend on your previous credit history. So you should do as much as you can to clean up your credit and raise your credit score before applying for any graduate school loans.
Funding graduate school may be hard work, but don't let a shaky credit history stop you. If you can find a willing co-signer, your search for graduate school loans will be simplified greatly. When you see your grad school financial struggles in the light of the increased earning power an advanced degree will bring, they are greatly diminished.
by Wade Robins
While only thirty years ago a four year college degree was enough to get you into good job in your chosen profession, times have definitely changed. Now having a Bachelor's Degree may be good for an entry level job in a field you love, but if you want to break into the upper levels of your profession, and advanced degree is almost certainly required.
And certain careers, especially those in law and medicine, have always demanded several years of graduate study. Yet the grants, and scholarships readily available to college undergraduates seem to evaporate when one is looking for a way to fund graduate school. Graduate student loans, it seems, are the best way for the financially challenged to pay for their graduate degrees.
Stafford Loans
Fortunately, the Federal government does understand the need for graduate level study, and offers the Stafford Loans program to provide a variety of graduate student loans. All you need do is complete a free application for student aid, or FAFSA loan, and then decide which loan avenue to pursue.
You may find Stafford graduate student loans administered by the graduate schools to which you are applying, but they are granted by the government. One big advantage to accepting a Stafford graduate student loan is that you will be allowed a six month grace period following your graduation before you need to start your payments.
The Federal Stafford graduate student loan program is also administered privately by banks and other commercial lending institutions. If the government accepts your application for this Stafford loan, you will be given a list of their approved lenders. Only those students who have not defaulted on any other student loans are eligible for Stafford graduate student loans, so if you have an earlier loan hanging over you, you need to clear it up if you want to fund your graduate school career with a Stafford loan.
If your income is low enough, you may have the interest on your graduate student loans subsidized by the government. What this means is that as long as you are enrolled in graduate school, you will not be responsible for the interest on your loan.
If your income level is too high, however, the interest on your graduate student loans will accumulate and be included in the principal which you need to repay. This means that both the total of your loan, and your payments, will increase. You will be able to take out Stafford graduate student loans totaling $50,000, spread out over the time you remain in graduate school.
Private Loans
If you are ineligible for a Stafford loan, you can always look for a private one, but your success will depend on your previous credit history. So you should do as much as you can to clean up your credit and raise your credit score before applying for any graduate school loans.
Funding graduate school may be hard work, but don't let a shaky credit history stop you. If you can find a willing co-signer, your search for graduate school loans will be simplified greatly. When you see your grad school financial struggles in the light of the increased earning power an advanced degree will bring, they are greatly diminished.
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