Graduate Student Loans, Where Do You Start?

Graduate Student Loans, Where Do You Start?

Nowadays it is not uncommon to see students who have passed their undergraduate course continue with their education by undertaking in a graduate course. This has become more accessible since the arrival of graduate student loans. There are a number of student loans that are available. One of this is the Graduate Stafford Loan. This type of loan can either be subsidized or unsubsidized depending on the financial needs of the student.
In order for you to get this loan, you must first fill a Free Application Federal Aid (FAFSA). This will then be handed over to the school to determine if you are eligible to apply for a loan. You are also required to complete a Master Promissory Note. These loans are disbursed on a first come, first serve basis and the repayment period is normally ten years. There is the possibility to extend on this repayment period if you choose to consolidate your debt.

Another graduate student loan is the Graduate Private Alternative Student Loans. It is very convenient as it has low interest rates and fees. There is no application fee required and covers expenses that a student would have to pay for once like room and board, books, transportation etc. You can also get this loan approved online and you can access your account anytime.

Then there is the GradPLUS loan for a graduate student which is guaranteed by the government. It has low interest and also covers other expenses besides tuition fees like room and board, supplies, transportation among other things. It requires you to fill the FAFSA and you do not have to make repayments while you are still studying. It is important that you assess the options available to you and select the one that suits you especially when it comes to repayment options.