Avoid The Problem Of Student Loan Bankruptcy

College is supposed to be an exciting time for young adults,
but is can also be a very stressful time too for many reasons.
Of course there are academic and social pressure, but an
important part of attending college is being able to pay for
it, thus college students often face the problem of student
loan bankruptcy.

About Student Loan Bankruptcy

While many young adults try to get college scholarships to
lessen the chances of student loan bankruptcy, the reality is
that scholarships often only cover a small percentage of the
costs. The costs not only include the courses, but also living
expenses, whether they live on or off campus. This is, of
course, unless it is a full-tuition scholarship.

However, student loan bankruptcy is becoming more common,
because more and more people are trying to get into selective,
expensive schools. Their reasoning is that if they get into
these expensive colleges, they will be able to get more
prestigious jobs, and thus be able to pay off their loans.

This might work well for those who are going into popular
career fields, but the reality is that one can never be too
certain, and as a result student loan bankruptcy occurs.
However, young adults can avoid student loan bankruptcy in a
variety of ways.

First of all, parents should start a college fund for their
children from a very young age. Adding just a little bit of
money per week or month can really add up and lower costs.
Also, when the child comes of age to begin working, while money
can go towards buying things it can also be saved towards
college.

Student loan bankruptcy can also occur if the person who took
the loan out in the first place did not thoroughly read all of
the stipulations behind that loan. It can also occur if they
were unable to pay the loan payments on the required basis.

Thus, the best way to avoid student loan bankruptcy is to
choose a college that is more within reach budget-wise. If a
person really wants to attend a college, another option is to
attend only as a part-time student, as that will lower costs
considerably. However, it will take longer to complete the
degree. While the college might not be as expensive, it can
still provide a valuable education, and one that can be
afforded.

About The Author: Simon Peters is the owner of
http://on-bankruptcy.com, it is THE best source for advice on
the subject on bankruptcy, nothing to sell, just information . . .

John V

John C. Vincent/CEO/The Opt-In Marketing System
http://ForexWealthMaker.blogspot.com
http://CreditSurvivor.blogspot.com
http://Amusing-Videos.blogspot.com
http://The-Dating-Game-Blog.blogspot.com

Learning the A's, B's & C's of Student Loans

Today, student loans allow many who would otherwise be
unable to afford the costs of higher learning the ability
to obtain a college education. College loans are ideal in
that they do not require the student to begin repayment
until after graduation, which means there is more time to
focus on studying and less time worrying about paying for
an education. The best way to learn about student loans is
to speak with the admissions office at your college of
choice and/or request an application.

After years of studying and working toward a degree that
will push students toward a bright future, graduation time
finally arrives. Along with it, the start of repayment on
college loans. Many young adults graduate with the desire
to relocate, find employment or get married and, often, the
student loan debt facing them seems overwhelming. Luckily,
student loan consolidation plans are available to help if
payments should ever fall behind or become impossible to
maintain.

Speaking of falling behind, one of the most common reasons
that individuals request a consolidation for their college
loans is because they are in default. Student loans cannot
be discharged in bankruptcy and, when in default, the only
way to regain control of this type of debt is often through
a student loan consolidation. If college loans remain in
default, or go unpaid, for a long period of time, a wage
garnishment may be pursued to ensure collection of the debt.

There are many benefits to requesting a student loan
consolidation, including the ability to sometimes reduce
payments by as much as 50% or receive a fixed rate for the
life of the loan. Most student loan consolidation programs
require no application fee and, in some cases, no credit
check. Lenders may have different policies and/or fees
relating to student loan consolidation, so be sure to ask
any questions that you may have prior to signing any
documents or submitting an application.

If you are considering college or have a child who is
approaching their senior year in high school, now may be
the time to start thinking about applying for student
loans. Some students work full time and attempt to study
just to afford an education. While this approach shows
great resolve, it often results in a student who has little
time to learn and feels as though he/she is being stretched
too thin. Student loans are designed to help degree
seekers take the time to experience the wonderful journey
of college without the stress of worrying about how to pay
for it.

The information contained in this article is designed to be
used for reference purposes only. It should not be used
as, in place of or in conjunction with professional
financial advice relating to college loans, student
consolidation loan programs or any similar type of loan
program. For additional information on student loans,
check with the admissions office at your college of choice
or request information on consolidation loans from a lender
specializing in student loan debt.

About the Author:
Andrew Daigle is an author and creator of many
informational websites including
http://www.personal-payday-student-loans.com for different
types of loans and ForexBoost at http://www.ForexBoost.com
Free Forex Training Resource


John V

John C. Vincent/CEO/The Opt-In Marketing System
http://ForexWealthMaker.blogspot.com
http://CreditSurvivor.blogspot.com
http://Amusing-Videos.blogspot.com
http://The-Dating-Game-Blog.blogspot.com

Defaulted Student Loans

Once you have left school and your federal student loans are in repayment it is important to make your payments on time. Some students and parents get behind on their Stafford loan, PLUS loan or Graduate PLUS loan payments, feel overwhelmed, and before you know it you haven’t made a payment in 270 days and your loans have gone into default. Your lender must make an aggressive effort to collect but if that fails your loan is turned over to the guarantor.

Now it starts getting expensive.

The guarantor has several options at their disposal for collecting your loan payments

• US treasury offset – your federal and state income tax refunds may be garnished.

• Turn the loan over top a professional collection agency – fees and penalties may be up to 25% of the total principal and interest due.

• Wage garnishment – your paycheck may be garnished for up to 15% of your disposable income.

• Legal action – you can be sued for the balance of the loan plus court costs and lawyers fees.

• Credit agencies notified – a defaulted loan stays on your credit report for a minimum of 7 years.

Other penalties when your Stafford, PLUS or Graduate PLUS loans enter default:

• You lose any deferral and forbearance rights

• You cannot receive any further federal aid

• Generally your loan is due in full upon defaulting

Even if you pay your federal loan off it will still be noted as defaulted, paid in full on your credit report and counted as a black mark.

Defaulting on your federal loan must be avoided if at all possible. If you are having trouble making your payments contact your lender, they may be able to help you work out a payment plan you can afford. Consolidation may be your best option in the long run, it lengthens the term of your loan which lowers the payments and has several repayment plans to fit anyone’s budget. Contact Federal Education Services about a Stafford, PLUS or Graduate PLUS loan consolidation before you slip into the default abyss.

Federal Education Services is a company that specializes in federal student loan consolidation, Stafford loan origination, PLUS and Graduate PLUS loan origination and as a resource for students with questions regarding educational financing. For any questions regarding this article please contact Federal Education Services. A friendly loan specialist can be reached at (877) 222-4727 or you can find us on the web at www.feded.net.

John V

John C. Vincent/CEO/The Opt-In Magic System
http://CreditSurvivor.blogspot.com
http://Amusing-Videos.blogspot.com
http://The-Dating-Game-Blog.blogspot.com

Federal Student Loans vs. Private Student Loans

Few students can afford to pay for college out of their savings, so they use student loans to pay for school. Two major categories of student loans include federal loans and private loans.

Because we believe that it is important to understand your education-funding options, this article investigates the difference between federal and private student loans.

These days, there are very few students who can afford to pay for college without some form of education financing. Two-thirds of undergraduate students have some debt, while 88% of law students need to borrow to finance their education. A typical undergraduate may graduate with more than $20,000 of debt, while graduate students may have significantly higher indebtedness. Law school students may graduate with an average of $80,000 in student loans. Typically, students have acquired both federal and private debt, but what are the differences between these types of loans? And is one better than the other? Read on for an explanation of both categories of student loans.

Many students rely on federal student loans to help finance their education. The most common federal loan is a Stafford Loan. These may be issued directly from the government to the student, or they may be issued by a private lender, such as a bank or credit union, belonging to the Federal Family Education Loan Program (FFELP). Either way, these loans are guaranteed against default by the federal government.

Something else to remember about Stafford Loans is they may be subsidized or unsubsidized. If you are eligible for a subsidized Stafford Loan, the government will pay the interest while you are in school. Subsidized Stafford Loans are generally given to students who can demonstrate financial need. If you receive an unsubsidized Stafford Loan, you will be responsible for paying all of the interest, although you may have the payments deferred until after graduation. If you choose to defer paying the interest until after graduation, the interest will be capitalized, or added to the loan amount. To qualify for an unsubsidized Stafford Loan, you do not need to demonstrate financial need.

The amount of your Stafford Loan will vary depending on your year in school. However, graduate students may borrow up to $18,500 each year (with $8,500 being subsidized) with a combined limit for graduate and undergraduate federal loans of $65,500 for dependent students. If you are an independent student, the cumulative limit you may borrow is $138,500 for your graduate and undergraduate studies.

Stafford Loans have variable interest rates, based on the 91-day T-bill, and this interest rate is adjusted each year on July 1. Stafford Loans have an interest rate cap of 8.25%. All lenders offer the same base rate for Stafford loans because the interest rate is predetermined by the government, although many lenders offer payment incentives and/or discounts to help you reduce your interest rate further. Another benefit of federal loans is you may lock in a fixed interest rate if you choose to consolidate your federal student loans. That way, you will not be affected by adjustments in the interest rate each year.

Students who use Stafford Loans to finance their education will also enjoy a six-month grace period before they begin repaying their loans. The grace period starts upon graduation or any time the student's enrollment status drops below half-time. During this grace period, no payments for interest or principal are required. Additionally, in times of financial difficulty, students may be able to defer their payments or apply for a period of forbearance until their situation improves. Federal loans generally qualify for up to two years of forbearance over the life of the loan.

Private student loans have many differences from federal student loans. However, if used properly, they may also be effective tools for education funding. Private education loans are issued by lenders such as banks and credit unions. They are regulated by the federal government, but there are no guarantees against default.

The main difference between federal loans and private loans is that private loans are credit-based. This means that your eligibility is determined by your credit rating. Requirements do vary by lender, but most private lenders will allow you to use a cosigner, or co-borrower, to qualify for a private loan. Furthermore, private lenders may require proof of income from the student or a cosigner before the student is approved for a loan.

The amount you may receive from a private lender also varies. Oftentimes, the loan amount is based on an amount set by your school. However, some private lenders set their own limits and allow students to use the funds for whatever financial needs the student may have. This includes housing, transportation, purchasing a computer, tuition, etc.

Another difference between federal and private student loans is in interest rates. Generally, private loans will have a higher interest rate than federal loans, and the interest rate for private loans will always be variable, even after consolidation. Also, the student's (or cosigner's) credit score may have an effect on the interest rate. Many private lenders start at a prime interest rate and then add a margin depending on the credit score. If the borrower does not have good credit, the interest rate will be higher.

Repayment plans also differ by lender for private loans. However, private lenders may not offer benefits such as forbearance or deferment in times of financial hardship. They also may not offer a grace period, and some private lenders require that the interest payments be made while the student is in school, although most lenders have repayment options to allow deferment of the principal until the student graduates. Also, like federal loans, the repayment term is often 10 or more years for private education loans.

If you are a student, plan to become a student, or are a parent of a student, it is important for you to understand your education-funding options. Private and federal loans may be effectively used in combination to fill in the financial gaps. Regardless of the type of loan you use, remember that it is not free money and it must be repaid. Choose your lender carefully, and weigh your options. After all, you will likely be repaying your education loans for many years to come.

For more information visit http://www.edfed.com

John V

John C. Vincent/CEO/The Opt-In Magic System
http://CreditSurvivor.blogspot.com
http://Amusing-Videos.blogspot.com
http://The-Dating-Game-Blog.blogspot.com

Debunking the FAFSA Myth

With the plethora of big-business entities jockeying for the money of students on the path to becoming well-to-do responsible consumers with a house, car, and 1.5 children, it's often missed that the US Government is the first place to start when planning student finances.

Scholarships, traineeships, fellowships, loans: Uncle Sam is nothing if not prolific in the diversity of programs available. For most students, the acroynm FAFSA is their first encounter with the cold hard seriousness of bureaucratic forms, most commonly dealt with before the dreaded and stereotypically cryptic IRS forms such as the 1040.

The FAFSA (Free Application for Federal Student Aid) is a free form and free service provided by the Department of Education. If you do not fill it in you will not be eligible for federal (government-backed) student loans. However, you will still be eligible for private, or alternative student loans.

Almost every school sets its own deadline for when the different forms of financial aid are due. Some may be as early as the second week of January and some have no deadlines at all. It is strongly recommended to check with your own school's financial aid office to find out exactly when your deadlines may fall. In order to meet a "Transaction Receipt Date" deadline for your college, it is recommended to submit to us at least 2 weeks prior to the published deadline to insure submission.

There are a myriad of large, well-oiled companies that will gladly take your money and 'process' your FAFSA application on your behalf. The fees for this service typically range from $50 to $100. You could also go with a private accountant, however the 'personal touch' will of course usually cost you more.

Wait! Do you really want to start your experience with Government forms as one of resignation that no, you are really not bright or organized enough to be able to fill it in yourself? Learning to 'do it yourself' with the Government can be not only a satisfying but potentially educational experience that will teach you the skills that many self-made millionares taught themselves: relying on an accountant or anonymous firm does nothing except save you some time, and in fact with big-ticket money decisions who is to say that your 'assistants' are not putting their interests before yours?

Just as their are firms such as H&R Block that will open up retail outlets in your neighorhood every year at tax time, there are companies that specialize in FAFSA applications. Now, as with the majority of tax returns, the FAFSA is anything but rocket science. It is simply a matter of making sure you know all your variables and where to write it on the form. For companies who perform this work day in day out, your financial future is simply an algorithm which is input and output in moments. They typically spend more printing the paper for your documents and checks then they do in any actual 'labor'.

SO, consider tackling the FAFSA yourself. Just like learning to do your taxes on your own, a few hours spent researching how to do the forms ONCE will enable you to conquer them the next time, and you can even make money on the side on campus teaching others how to complete such forms.

Here is the Government's central page for the FAFSA. Everything you need to know is here and studying all the resources here WILL let you fill in this form without errors, and without giving your money away:

http://studentaid.ed.gov/students/publications/
student_guide/2003_2004/english/general-applying.htm#renewal

About The Author
This article reprinted courtesy of HungryStudents.com - Independent Student Loan Consolidation Info. http://www.hungrystudents.com

John V
http://urlfreeze.com/JCV/StudentLoans/

John C. Vincent/CEO/The Opt-In Magic System
http://CreditSurvivor.blogspot.com
http://Amusing-Videos.blogspot.com
http://The-Dating-Game-Blog.blogspot.com

Federal Student Loans vs. Private Student Loans

Few students can afford to pay for college out of their savings, so they use student loans to pay for school. Two major categories of student loans include federal loans and private loans.

Because we believe that it is important to understand your education-funding options, this article investigates the difference between federal and private student loans.

These days, there are very few students who can afford to pay for college without some form of education financing. Two-thirds of undergraduate students have some debt, while 88% of law students need to borrow to finance their education. A typical undergraduate may graduate with more than $20,000 of debt, while graduate students may have significantly higher indebtedness. Law school students may graduate with an average of $80,000 in student loans. Typically, students have acquired both federal and private debt, but what are the differences between these types of loans? And is one better than the other? Read on for an explanation of both categories of student loans.

Many students rely on federal student loans to help finance their education. The most common federal loan is a Stafford Loan. These may be issued directly from the government to the student, or they may be issued by a private lender, such as a bank or credit union, belonging to the Federal Family Education Loan Program (FFELP). Either way, these loans are guaranteed against default by the federal government.

Something else to remember about Stafford Loans is they may be subsidized or unsubsidized. If you are eligible for a subsidized Stafford Loan, the government will pay the interest while you are in school. Subsidized Stafford Loans are generally given to students who can demonstrate financial need. If you receive an unsubsidized Stafford Loan, you will be responsible for paying all of the interest, although you may have the payments deferred until after graduation. If you choose to defer paying the interest until after graduation, the interest will be capitalized, or added to the loan amount. To qualify for an unsubsidized Stafford Loan, you do not need to demonstrate financial need.

The amount of your Stafford Loan will vary depending on your year in school. However, graduate students may borrow up to $18,500 each year (with $8,500 being subsidized) with a combined limit for graduate and undergraduate federal loans of $65,500 for dependent students. If you are an independent student, the cumulative limit you may borrow is $138,500 for your graduate and undergraduate studies.

Stafford Loans have variable interest rates, based on the 91-day T-bill, and this interest rate is adjusted each year on July 1. Stafford Loans have an interest rate cap of 8.25%. All lenders offer the same base rate for Stafford loans because the interest rate is predetermined by the government, although many lenders offer payment incentives and/or discounts to help you reduce your interest rate further. Another benefit of federal loans is you may lock in a fixed interest rate if you choose to consolidate your federal student loans. That way, you will not be affected by adjustments in the interest rate each year.

Students who use Stafford Loans to finance their education will also enjoy a six-month grace period before they begin repaying their loans. The grace period starts upon graduation or any time the student's enrollment status drops below half-time. During this grace period, no payments for interest or principal are required. Additionally, in times of financial difficulty, students may be able to defer their payments or apply for a period of forbearance until their situation improves. Federal loans generally qualify for up to two years of forbearance over the life of the loan.

Private student loans have many differences from federal student loans. However, if used properly, they may also be effective tools for education funding. Private education loans are issued by lenders such as banks and credit unions. They are regulated by the federal government, but there are no guarantees against default.

The main difference between federal loans and private loans is that private loans are credit-based. This means that your eligibility is determined by your credit rating. Requirements do vary by lender, but most private lenders will allow you to use a cosigner, or co-borrower, to qualify for a private loan. Furthermore, private lenders may require proof of income from the student or a cosigner before the student is approved for a loan.

The amount you may receive from a private lender also varies. Oftentimes, the loan amount is based on an amount set by your school. However, some private lenders set their own limits and allow students to use the funds for whatever financial needs the student may have. This includes housing, transportation, purchasing a computer, tuition, etc.

Another difference between federal and private student loans is in interest rates. Generally, private loans will have a higher interest rate than federal loans, and the interest rate for private loans will always be variable, even after consolidation. Also, the student's (or cosigner's) credit score may have an effect on the interest rate. Many private lenders start at a prime interest rate and then add a margin depending on the credit score. If the borrower does not have good credit, the interest rate will be higher.

Repayment plans also differ by lender for private loans. However, private lenders may not offer benefits such as forbearance or deferment in times of financial hardship. They also may not offer a grace period, and some private lenders require that the interest payments be made while the student is in school, although most lenders have repayment options to allow deferment of the principal until the student graduates. Also, like federal loans, the repayment term is often 10 or more years for private education loans.

If you are a student, plan to become a student, or are a parent of a student, it is important for you to understand your education-funding options. Private and federal loans may be effectively used in combination to fill in the financial gaps. Regardless of the type of loan you use, remember that it is not free money and it must be repaid. Choose your lender carefully, and weigh your options. After all, you will likely be repaying your education loans for many years to come.

For more information visit http://www.edfed.com

John V
http://urlfreeze.com/JCV/StudentLoans/

John C. Vincent/CEO/The Opt-In Magic System
http://CreditSurvivor.blogspot.com
http://Amusing-Videos.blogspot.com
http://The-Dating-Game-Blog.blogspot.com

Finding the Best Private Student Loan

Students who do not meet federal requirements for financial need can use the route of a private student loan. Apply for a private loan is free. The loan is based on the student's creditworthiness and not the need for aid as does the federal loans.

Many lenders offer private student loans to students or their parents and the application process is simple and free. The loan requirements are usually less stringent and the repayment options are affordable for young professionals. A private student loan is a great way to finance the education of any student that needs financial help. Below you will find things that you should know and things you should consider.

Things You Should Know:

1. Student loans can be used not only to pay the fees but also for lab fees, dues for associations and housing.

2. A student can have an educational loan even though the tuition is covered by a grant.

3. A student who is eighteen years or above in age, can apply for a student loan.

4. Most of the student loan is deferred for repayment until the student completes the education or leaves the school.

Things You Need To Consider:

1. Private loans for students are not given without a co-signer or a credit report.

2. Credit unions give student loans if a vehicle or a boat is provided as collateral.

3. During the cumulative credit period, a student has the option of paying or not paying the interest part of the loan. It should be noted that paying the interest on the loan while attending school will significantly reduced the amount due when the student starts paying the loan after leaving the institution.

4. Student loans are to be repaid in ten years. Nevertheless, longer repayment facilities are provided to large student educational loans.

It is not difficult to finding lenders, because most financial institutions offer some form of student loan.

Always take the time to investigate lenders in your immediate area and find out exactly what kind of loans they offer. Compare the different interest rate and terms to get the best offer available.

About The Author
Dave Fitzgerald is a freelance publisher living in Glendale, Arizona. He publishes articles and reports in various ezines and provides information on student loans. For more information about loans and lenders come visit http://www.DelveIntoStudentLoans.com.

John V
http://urlfreeze.com/JCV/StudentLoans/

John C. Vincent/CEO/The Opt-In Magic System
http://CreditSurvivor.blogspot.com
http://Amusing-Videos.blogspot.com
http://The-Dating-Game-Blog.blogspot.com

A Guide To Paying Back A Student Loan

A borrower has certain responsibilities to take care of, once a loan is negotiated. In order to keep your loan in good standing, it is important to fulfill all your obligations. A lapse in making a single payment indicates delinquency. You could get into the default record if you continue to ignore your loan repayments. If you face any trouble in arranging funds for paying back your student loan, you need to contact the organization that provided the loan. There are chances that you may qualify for forbearance, deferment or any other form of payment relief.

In most of the cases, student loans do not require repayment until after graduation. Many fresh graduates do not find a suitable placement very quickly. However, after graduation, there is a six months grace period before the repayment schedule begins. Even though a student may identify a good job, he could initially be underpaid, leading to issues with the repayment of the loan.

There are several strategies that could be adopted to help you repay the loan. Student loan lenders and service providers offer several repayment options. You should check with your creditor to gather details on any such available plans. Repayment plans offer the following options:

- Graduated repayment: The payment is lower in the beginning and increases steadily over a period of time.

- Standard repayment: Interest payments and principals are due each month, throughout the repayment term.

- Income sensitive repayment: A percentage of the borrower’s monthly income forms the basis of calculating the monthly repayment, although this plan applies for certain account borrowers.

- Extended repayment: This incorporates lower monthly payments for an extended period of 25 years.

- Loan consolidation: You can consolidate several loans into one new loan, with a low interest rate and easy finance management opportunities.

- Prepayment: This can reduce your total cost of borrowing because most private student loans allow you to make payment of a part or your entire loan before the scheduled payment. This can be done anytime during the life of the loan.

In addition you should check:

- Your state might be offering programs that reduce or even cancel your loan if you perform certain services like, nursing or teaching. You can get in touch with the state agency for postsecondary education, to check if there are such programs available in your state.

- There are religious and civic organizations that provide certain benefits and aid in repayment.

- Your personal expenses may need to be analyzed and kept minimum. Try to keep your living expenses low initially.

- It is possible to apply for forbearance, deferment or any other payment relief programs.

Deferment: It is the temporary suspension of the loan payment if you re-enroll yourself in a school, are unemployed or facing any economic hardship.

Forbearance: This is also a reduction or postponement of the loan payment, temporarily, while you are in any financial difficulty.

Other forms: These may include graduate or income sensitive loans.

If you are facing financial difficulty and it is impossible for you to repay the loan immediately, you can always take refuge in these options. They not only help you to repay your loan easily, but also help you maintain a good credit report.

About The Author
Joe Kenny writes for the UK Loans Store for loans UK and offer more information on student loans and other loan topics available on site.

Visit Today: http://www.ukpersonalloanstore.co.uk

John V
http://urlfreeze.com/JCV/StudentLoans/

John C. Vincent/CEO/The Opt-In Magic System
http://CreditSurvivor.blogspot.com
http://Amusing-Videos.blogspot.com
http://The-Dating-Game-Blog.blogspot.com

Money for College – Where Is It and How Do I Get It?

College is expensive – but money is available to help you pay the way! By doing a little research and filling out a few forms, you can find money through scholarships, grants, loans, and tuition assistance such as work study.

Scholarships

There are more than one million scholarships available each year to reward students who have distinguished themselves academically, athletically, musically, or in some other way. Scholarships pay for some or all of a student's college costs through cash or tuition reimbursements.

The primary government counterpart for scholarships is the Reserve Officers' Training Corp (ROTC) program. Through ROTC, military branches offer full scholarships to students who agree to serve in the military for a certain number of years after graduation. Religious groups, professional associations, and civic organizations are other sources of scholarships.

Grants

Grants are financial aid awards that do not need to be repaid. There are Federal, state, and private grants available.

Federal: There are two main types of Federal grants:


The Pell Grant is the largest federal grant program. It provides up to $3000 per year based on financial need

The Federal Supplemental Educational Opportunity Grant provides from $100$4,000 per year, depending on when you apply, your level of need, the funding level of the school you're attending, and the policies of the Financial Aid Office where you attend school Special grant programs through the National Health Services Corps and the Armed Forces are available for students entering the health and medical field.

State: All states provide some type of grant, scholarship, or tuition assistance programs.

Your state's higher education agency can give you information about state grants, including the State Student Incentive Grant (SSIG) Program. This program is funded jointly by individual states and the U.S. Department of Education.

Private: Many private grants are available. Your university may offer institutional grants from its own resources.

Loans

Once you have exhausted all the scholarships and grants available to you, it is time to look at loans. Federal loans are the largest source of financial aid available. Check the information below for information about the major types of Federal loans:

A Perkins Loan is need-based and you must be at least half-time student. The interest rate is fixed at 5 percent and you can borrow up to $3,000

A Subsidized Stafford Loan is need-based and you must be at least half-time student. The interest rate is variable with 8.25% cap. You can borrow up to $2,625 year 1, up to $3,500 year 2, and $5,500 for years 3-5

An Unsubsidized Stafford Loan is available for any student who is at least a half-time student. The interest rate is variable with 8.25% cap. You can borrow up to $2,625 year 1, up to $3,500 year 2, and $5,500 for years 3-5

A Parent PLUS Loan is for the parent of a dependent attending at least half-time. The interest rate is variable with 9% cap and it can cover the cost of attendance less total financial aid offered. It is available year round and can even pay for back expenses.

If you don't qualify for Federal loans, private loans are also available through banks and credit unions.

Work Study

The Federal Work-Study Program provides jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses.

So how do I get all this financial aid?

Your first step in applying for any government money, whether federal or state, is to complete the Free Application for Federal Student Aid (FAFSA). For more information about the FAFSA and how to apply, you can visit NextStudent's “FAFSA On The Web” section located here: https://www.nextstudent.com/fafsa/fafsa.asp.

Other ways to find out about financial aid sources include:

*Check with state agencies in both your home state and the state in which you will attend college to find out about grant opportunities

*Check with your college Financial Aid Office about institutional grants and scholarships

*Check with your high school career counselor about grants and scholarships you may be eligible for

Search the internet for student loans, scholarships, and other financial aid opportunities

*Check with the your parents' employers to see if they offer any scholarships

*Check with the advisors of any clubs you belong to, about scholarships that might be available As you can see there are many ways to get money for school. Make sure you cover all bases and try to get the free money first, and use student loans if the need arises, and you will end up paying for school in the most efficient manner possible.

This article is distributed by NextStudent. At NextStudent, we believe that getting an education is the best investment you can make, and we're dedicated to helping you pursue your education dreams by making college funding as easy as possible. We invite you to learn more about how to get money for college at NexStudent.com.

About The Author
Vanessa McHooley from SanDiego California.

John V
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John C. Vincent/CEO/The Opt-In Magic System
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http://Amusing-Videos.blogspot.com
http://The-Dating-Game-Blog.blogspot.com

How Student Loans Work

Students have many options for financing the cost of college. Loans are just some of those options. However, all avenues for securing scholarships and grants should be pursued before trying to find a loan. This is because scholarships and grants do not have to be paid back, while loans do. There are many different types of loans available for consideration, and many factors of which you should be aware.

First of all, it’s best to get your Free Application for Federal Student Aid (FAFSA) in early. In fact, it should be turned in as soon as you or your parents have mailed in your annual income tax forms. While the federal government uses this information in order to assess your need for aid, state governments also offer grants based on your form. Most of the time these state grants are first come first served, so the earlier you apply the better chance you have of receiving this type of financial aid. Also, this is the method in which you apply for government loans as well.

If you find you did not receive enough aid to cover your expenses, move on to applying for a loan. There are several types of government loans to consider. The first is a Parent Loan for Undergraduate Students (PLUS) which puts the responsibility of repayment on parents, at an interest rate that’s currently 8.5 percent. There is no limit on the funds, and repayment must begin 60 days after disbursement with no grace period. There is a credit check involved. If the parents are denied the loan, the student will have an increased limit when they apply for Stafford loans.

Stafford loans are either disbursed by banks or directly by the federal government. There are subsidized loans, meaning the government pays the interest while you are in school. They are based on need. There are also unsubsidized loans in which you are responsible for the interest which accrues. They are not need based. However, you can elect to defer the interest payments until after graduation. Students are not required to repay these loans until six months after they graduate. Loan caps differ depending upon how far along you are in your schooling. Freshmen can borrow up to $3,500, sophomores up to $4,500, and juniors and seniors $5,000. The limits increase if you are an independent student, your parents were denied a PLUS loan, or if you are a graduate student. These loans currently have a fixed interest rate of 6.8 percent, but some lenders may offer rate reductions based upon your career path, such as for teachers or nurses.

A school based loan, offered with funds provided by the government, is called the Perkins Loan. It is need based, subsidized, and currently has a fixed interest rate of 5 percent. Undergraduates are eligible to receive up to $4,000 per year, while graduate students can receive up to $6,000. Your school’s financial aid office determines if you are eligible to receive this type of loan.

A first time borrower can expect his or her loan funds to be delayed by about a month after those of someone who has borrowed before. This means you should apply for your loan as soon as possible. You will also be required to take an entrance interview in order to receive your payments. You will probably be able to take this interview online. Your financial aid office will assist you in completing the interview.

If you know you are going to need loan money to cover college expenses, check with your school’s financial aid office. Some schools do not accept Stafford loans, so you would need to make other arrangements for a loan or find a school that will accept one. Private loans from banks are an option, but be aware that most of the time you will be required to repay them without a grace period. There are some, such as one offered through U-promise, that can be deferred until after graduation. Also, since they are based upon credit scores, many students may not qualify due to a lack of credit history.

Don’t wait until the last minute. Get your FAFSA filled out, and explore all of your options regarding paying for college. This will ensure a smooth transition and better prepare you for any setbacks that may come along.

About The Author
Gray Rollins is a featured writer for http://www.studentloansdigest.com/. To learn more about student loans and loan relief, visit http://www.studentloansdigest.com/studentloanrelieftips/


John V
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John C. Vincent/CEO/The Opt-In Magic System
http://CreditSurvivor.blogspot.com
http://Amusing-Videos.blogspot.com
http://The-Dating-Game-Blog.blogspot.com

Benefits of Federal Loan Consolidation

A Federal Consolidation Loan allows you to combine one or more of your federal education loans into a new loan that offers you several advantages.

Lower Interest Rate For In-School and In-Grace Consolidation
Borrowers who have a Federal Loan in an in-school or grace period at the time we receive their consolidation application, may benefit from a lower fixed interest rate on the new Federal Consolidation Loan. The difference between a borrower's interest rate during their in-school and/or grace period and during their repayment period can be as high as 0.6%.

Lower Interest Rate for Auto-Debit and On-Time Payment
Receive 0.25% off when you enroll in automatic checking account withdrawal. Add another 1.0% off after

One Lender and One Monthly Payment
With only one lender and one monthly bill, you will find it is easier to manage your debt. You will have only one lender, the Student Loan Network, for all loans included in your Federal Consolidation Loan.

Flexible Repayment Options
You can choose from different plans to repay your Federal Consolidation Loan. These plans are flexible to meet the different needs of borrowers. With a Federal Consolidation Loan, you can switch repayment plans at anytime.

Grace Period
If you consolidate while in-school, you may receive a 6-month grace period before repayment begins.

No Fees
Consolidation is free.

Varied Deferment Options
Federal Consolidation Loans offer several deferment options. If you have exhausted the deferment options on your current Federal education loans, a Federal Consolidation Loan could renew those deferment options. In addition, you may be eligible for additional deferment options if you have an outstanding balance on an FFEL made before July 1, 1993, when you obtain your first Federal Loan.

Reduced Monthly Payments
A Federal Consolidation Loan may lower your monthly payment. The minimum monthly payment on a Federal Consolidation Loan may be lower than the payments on your federal education loans.

Retention of Subsidy Benefits
You will keep any subsidies on your old loans.

Source: US Department of Education and StudentLoanConsolidator.com

John V
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John C. Vincent/CEO/The Opt-In Magic System
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Is Consolidation Right for You?

Here are some factors you should consider when deciding if consolidation is right for you.

What are the interest rates on your loans? If a Federal Consolidation Loan offers you a lower rate than your current loans, you may want to consolidate. Currently, the interest rate for a Federal Consolidation Loan is based on the weighted average interest rate on the loans being consolidated, rounded to the next nearest higher one-eighth of one percent. This rate is fixed for the life of the loan and cannot exceed 8.25 percent.

Are your monthly payments manageable? If you have trouble meeting your monthly payments, have exhausted your deferment and forbearance options, and/or want to avoid default, consolidation may help you.

How much are you willing to pay over the long term? Like a home mortgage or a car loan, extending the years of repayment increases the total amount you have to repay.

How many payments do you have left on your loans? If you are close to paying off your student loans, it may not be worth the effort to consolidate or extend your payments.

What consolidation loan benefits do your current lenders offer? Check with the loan holders currently servicing your loans to see if they can offer terms and repayment plans that meet your needs better than a Federal Consolidation Loan.

Source: US Department of Education

John V
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John C. Vincent/CEO/The Opt-In Magic System
http://CreditSurvivor.blogspot.com
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Eligible Loans for Federal Loan Consolidation

The following federal education loans are eligible for consolidation into a Federal Consolidation Loan:

* Direct Subsidized and Unsubsidized Loans
* Federal Subsidized and Unsubsidized Federal Stafford Loans
* Direct PLUS Loans and Federal PLUS Loans
* Direct Consolidation Loans and Federal Consolidation Loans
* Guaranteed Student Loans
* Federal Insured Student Loans
* Federal Supplemental Loans for Students
* Auxiliary Loans to Assist Students
* Federal Perkins Loans
* National Direct Student Loans
* National Defense Student Loans
* Health Education Assistance Loans
* Health Professions Student Loans
* Loans for Disadvantaged Students
* Nursing Student Loans

Ineligible Loans
Some loans are always ineligible for consolidation. While these loans may not be included in a Federal Consolidation Loan, they may be considered in the calculation of the maximum repayment period under the Graduated or Extended Repayment Plan. These include but are not limited to the following:

* Loans made by a state or private lender and not guaranteed by the federal government
* Primary Care Loans
* Law Access Loans
* Medical Assist Loans
* PLATO Loans

Source: US Department of Education and StudentLoanConsolidator.com

John V
http://urlfreeze.com/JCV/StudentLoans/

John C. Vincent/CEO/The Opt-In Magic System
http://CreditSurvivor.blogspot.com
http://Amusing-Videos.blogspot.com
http://The-Dating-Game-Blog.blogspot.com

Student Loans 101

When it comes to furthering your education, you must have student loans to do it. It is rather simple to get extra funding to cover your school costs when scholarships and grants do not add up to enough funding. There are student loans out there for you to apply for as well as private loans and loan consolidation if you need it.

Student loans are available through the federal government and they are the biggest source when it comes to education loans. The most popular federal loans are Federal Stafford loans, Federal Perkins Loans, and Federal Parent Loans for Undergraduate Students or PLUS. The Federal Stafford Loans are available to both graduate and undergraduate students. The Federal Perkins Loans are given by colleges to those who need it the most and these loans require no payment of interest while the student is attending school. PLUS student loans are low interest and are available through the financial aid office of the school your student is attending or through the Sallie Mae foundation. This student loan covers all expenses, including room and board and books, which you as a parent were going to be financially responsible for. Two programs are responsible for federally funded loans. One is the Federal Family Education Loan Program in which the lender can be your school or bank. The other program is the William D. Ford Federal Direct Loan Program where the lender is the U.S. Department of Education.

Private student loans are available to you when a scholarship, grant, or federal loan falls short of your tuition costs and other expenses like books or living. They are also called alternative loans. A private student loan is not sponsored by the government and therefore no federal papers will be needed to be signed by you. It is a loan that is offered through a bank or other financial institution. To obtain this type of student loan, credit is reviewed by each lender from you, your parent(s), and in some cases, a co-signer may be needed. The Sallie Mae program offers a private loan program for both graduates and undergraduates. Other private student loans include MEDLOANS and MBA LOANS. Loan consolidation is a great move when you have several loans to pay off. When you consolidate, your student loans with their various repayment schedules can be condensed down into one simple payment. An FFEL consolidation loan will give you a one-month payment option and they will contact credit bureaus and notify them that you have a zero balance. You must be in repayment of your defaulted loan with three on time payments to be able to obtain a FFEL student consolidation loan.

Natalie Aranda is a freelance writer. She contributes to Ecommerce Guide and Gift Ideas for Wedding and Valentines.
http://www.4th-media.com/

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John C. Vincent/CEO/The Opt-In Magic System
http://CreditSurvivor.blogspot.com
http://Amusing-Videos.blogspot.com
http://The-Dating-Game-Blog.blogspot.com

All About Student Loans

Let's face it, most of us do not have access to bottomless trust funds or college education accounts. Therefore, financial aid for a college education is an arena a large percentage of people will have to enter at some point in their lives. Not everyone can or will qualify for a scholarship, grant, or fellowship, and even if they do, this type of financial aid may only cover a portion of their educational expenses. With the ever-increasing costs of higher education, even families that save and save for their child's future education can come up short when the time comes.

Whether you are going to college, planning your child's college education, or paying down existing college debt, student loans are the most common and often the most practical way to go.

There is an abundance of student loan sources to be found. The primary question and ultimate goal is to find the one that fits your particular needs and budget.

For future academics there may be a direct student loan or a private student loan program that will suit you.

You may already be in college, be a college graduate, or be in the midst of pursuing a postgraduate degree. And you may be looking to simplify your finances. Student loan debt consolidation can help to ease to your mind and your financial burden.

For those families and/or individuals that have a sketchy credit history, all is not lost. There are sources and financial institutions that can provide a bad credit student loan.

Whatever your respective needs or circumstances, know that financial aid is available for the asking. Although the prospect of doing the research and filling out loan applications may seem daunting, it will be time well spent. There is much to be said for setting out to reach a goal or capture a dream, which for many is just getting to college. When it is all said and done, the rewards can be boundless.

Simon is the pen name for a professional writer on many topics. His work includes book authorship, TV producer and independent writer for many national magazines.

John V

John C. Vincent/CEO/The Opt-In Magic System
http://CreditSurvivor.blogspot.com
http://Amusing-Videos.blogspot.com
http://The-Dating-Game-Blog.blogspot.com

Some facts about consolidating student loans

With increased demand for better education, the college and school fees have also increased. As a result, most students have huge student loans by the time they complete their studies. Most federal education loans offer an option that may reduce the burden of student loans.

The following loans come under consolidation criteria:

1) Subsidized government student loan.

2) Unsubsidized government student loan.

3) Federal Nursing Loans.

4) Federal Perkins Loans.

5) Health Education Assistance Loans.

Always keep in mind that Private student loans do not fall in this criterion.

Government Student Loan Consolidation allows you to combine all federal student loans with one monthly payment. One monthly payment after the consolidation of government student loan will be lower than the payment required under the 15 or 20 year repayment option.

Process of Government Student Loan Consolidation:

To apply for a government student loan consolidation you must fill an application form and contact the lender. To apply for consolidation, you can use online facility provided by your borrower or you can request an application form on telephone incase your borrower does not provide online facility. After receiving your completed application, the lender will request information from your other lenders. Then the borrower will receive notification about consolidation loan, normal consumer disclosures and the amount owed.

Always Consider the Cost

Consolidation is simply an option of loan repayment, which lowers down your monthly repayment but mostly it increases the total repaying amount, as it increases time period upto 30 years allowing you more time to pay the same amount. Thus, you should compare your consolidated repayment with an unconsolidated one-if there is a big difference then you should find out some other option to solve your problem. Confirm whether you are losing interest rate discounts, principal rebates or any loan cancellation benefits.

John V

John C. Vincent/CEO/The Opt-In Magic System
http://CreditSurvivor.blogspot.com
http://Amusing-Videos.blogspot.com
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