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Friday, 24 August 2012

Multiple Student Loans


How to Manage Multiple Student Loans

Nowadays, it is not uncommon for college students to apply for multiple student loans to finance their studies. With clear financial records and purpose, any student should be able to get the education loans they need. Problems with multiple student loans perhaps will arise as soon as the borrower have to repay what they have borrowed.

Various amounts of loans with various interest rates as well as various repayment terms are not easy to manage and it is easy to get mixed up between them. Additionally, when a student comes across financial hardships following his/her graduation, repaying the loans can be a tremendous burden.

To solve these problems, you can apply for a student debt consolidation loan which combines all your borrowed funds. By consolidating your various loans, you will only have to pay to one lender each month. Besides, you will also get other benefits such as a fixed interest rate and longer repayment period. The rate is actually the weighted average of the interest rates of all the loans.

Since the rate is rounded up to the nearest 1/8 of a percent, you might end up with a slightly lower or higher interest rate. The repayment term, on the other hand, ranges from 10 to 30 years depending on the total amount of the loan and other considerations that will save you up to 50% payment per month.

Generally, most federal student financial aids such as FFELP, NSL, FISL, HEAL, Perkins, Guaranteed Student Loans, Health Professional Student Loans, and Direct loans can all be consolidated into one loan. If you have private student loans, however, consult your lender about the possibility of consolidation since several lenders also provide private consolidation loans. Lenders that provide such service include Student Loan Network, Chase, Wells Fargo, and NextStudent.

All students as well as parents with educational loans are welcome to apply for the loan consolidation. Nevertheless, students and parents from the same family cannot merge their loans together into one master loan so they must apply for it separately.

The regulation states that only multiple student financial aids under the same borrower can be consolidated. The same regulation also applies to married students. Hence, their educational loans should also be consolidated separately. This regulation was active per 1 July 2006 to overcome problems involving divorced students since the consolidation loans cannot be separated.


Source: http://ezinearticles.com/?How-to-Manage-Multiple-Student-Loans&id=6507428

Helpful:
www.collegescholarships.org/loans/bad-credit-student-loans.htm
www.finaid.org/loans/whyconsolidate.phtml

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Thursday, 23 August 2012

Avoid Student Loans and Apply Obama's Scholarship


Dads Avoid Student Loans and Apply to Obama's New Scholarship For Dads Program to Get $10,000 Now

Finally you have the time to go back to school like you have wanted to for so long. The only issue now is finances. There are many institutes offering student loans with lower level of interest, sure, however, after a few years of these loans, it really does add up. In fact, a four year degree could sink you in up to $40,000 in debt. That will take over a decade of several hundred dollars a month in payments. That is not a nice situation to be facing when you are trying to make a start back into the job market.

Because of the Federal Pell Grants that the government is offering all of you fathers, you can now get this education for free with no strings attached. There are no payments and no interest after you graduate, only a tax exemption worth $4000. Are you interested yet?

You can receive up to $10,000 a year in free education for several years to complete that degree or diploma of your choice. There are over 5000 institutes taking part in this program all over the country which gives you plenty to choose from. Institutes include not only the public and private facilities but those which are online. All you have to do is get the application from the FAFSA website and fill them in along with the school enrollment forms and send them to the institute once you have them filled out. It's a very simple procedure, but one that will give you priceless benefits.


Source: http://ezinearticles.com/?Dads-Avoid-Student-Loans-and-Apply-to-Obamas-New-Scholarship-For-Dads-Program-to-Get-$10,000-Now&id=3044521

Helpful:
https://students.asu.edu/financialaid/apply
www.scholarships.com/tag/student-loans/Page=2

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Thursday, 16 August 2012

FAFSA Online to Get Federal Student Loans


How to Fill Out the FAFSA Application Online to Get Federal Student Loans

Federal Student Aid can help pay for secondary education beyond high school to eligible individuals. It is federally funded financial assistance to help students and families pay for college. The FAFSA application is free and the benefits will last a lifetime.

To apply for financial aid, an applicant must fill out a FAFSA, which stands for Free Application for Federal Student Aid. This application will determine eligibility for receiving financial assistance for college based on the data provided, which includes personal information, income, parent's income, spouse's income, dependents, assets, housing situation, and any other government programs participated in by the applicant.

The FAFSA can be completed quickly and easily online. It is split into sections and there are helpful directions and tips for each question. It is necessary to have the federal tax return from the previous year in order to fill out the financial section of the FAFSA.

Section One - Student Personal Information:

This section requires the legal name, current address, social security number, date of birth, telephone number, driver's license state and number, email, citizenship status, marital status, state of legal residence, gender, information regarding any conviction for the possession or sale of illegal drugs that occurred while receiving any form of federal student aid, parents' education level, high school information and completion status, student classification for the upcoming school year, degree or certificate working towards, and whether work study should be considered.

Section Two - Student Financial Information:

This section requires information contained on the tax return from the prior year. It conveniently directs the applicant to the precise lines on the federal tax return that contain the information requested. Spouse's income is included in this section as well. The applicant must also list the total value of family assets, including cash, checking and savings accounts, real estate investments, and businesses or investment farms.

This section also requires the applicant to disclose any education credits received, child support paid for children not living at home, other taxable earnings like Federal Work-Study, other taxable student aid such as grants or scholarships, any taxable combat or special combat pay, or any cooperative education program income.

 Information regarding untaxed income will also need to be reported here, including payments made to tax-deferred savings plans or pensions, IRA deductions and payments for self-employed applicants, child support received, any tax-exempt interest income, untaxed IRA distributions or pensions, living allowances paid to military, clergy, or anyone else, non-education Veteran's benefits, and any other untaxed income.

Section Three & Four - Parent Determination:

The questions in this section will help determine whether the applicant needs to include parent information when applying for financial assistance. If the applicant can answer "yes" to any of the 13 eligibility questions in this section, they are exempt from needing to include parent information and can skip this section entirely. If the applicant answers "no" to any of the 13 questions in this section, they must have their parent(s) fill out Section Four, which will ask similar information of the parents as it did for the applicant.

Section Five - Household:

This short section asks how many people are in the applicant's household and of those people, how many will be college students during the year the applicant is applying for federal aid. It also asks if anyone in the household is receiving any federal benefits, such as TANF, WIC, SSI, food stamps, or free/reduced lunches. The final question of this section is whether the applicant is a dislocated worker.

Section Six - Schools:

This section is solely for entering the colleges or universities the applicant is interested in attending.

Section Seven - Signatures:

This section is for the applicant and their parent to sign, verifying all information presented is true and correct.

It is important to fill out a FAFSA as soon after January 1st as possible since federal financial aid and college grants are distributed on a first come, first served basis. The application process is simple and easy to follow, albeit time consuming since it requires many details about income and financial information. The FAFSA will calculate the applicant's EFC - expected family contribution. This amount will determine the applicant's financial need and whether the applicant is eligible to receive federal financial aid.

Once financial aid is awarded, it will be distributed first to the college or university the applicant is attending and will go towards paying tuition, fees and books. Any remaining funds that are unused will then be distributed to the student directly.


Source: http://ezinearticles.com/?How-to-Fill-Out-the-FAFSA-Application-Online-to-Get-Federal-Student-Loans&id=6995562

Helpful:
www.fafsa.ed.gov/
studentaid.ed.gov/fafsa

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Wednesday, 15 August 2012

Student Loans for Unemployed Students


Student Loans for Unemployed Students: Furnish the Cash Urgently


Obtaining the cash is not hard nut to crack for unemployed students, unemployed students can get the cash easily through Student Loans For Unemployed Students on their qualification. The students, who are unemployed and crave to avail the cash through Student Loans For Unemployed Students, must be UG or PG in their country.

Availing the Student Loans For Unemployed Students they are to fill up a simple online application form of opted lender with details about themselves similar to name, residential proof, contact number, account number, age etc, rest of the formalities will be completed by the lenders.

The Student Loans For Unemployed Students will be wired in your checking within few hours on the same day or the next business day. The amount of money that can be availed by the Student Loans For Unemployed Students is up to $25000. The rates of interest that can be availed by the Student Loans For Unemployed Students are reasonable because loan-lending companies know that the borrower is student as well as unemployed. It would be hard for the borrower to afford high rates of interests through Student Loans For Unemployed Students.

Time duration for which the Student Loans For Unemployed Students can be borrowed is flexible. Unemployed students have to repay the amount of the Student Loans For Unemployed Students after getting job because then only, he can be able to repay the Student Loans For Unemployed Students. Loan lending companies ask the borrower to fill up a simple online form to collect some personal information about the borrower like name, address, telephone number, current account number, occupation etc when you apply for Student Loans For Unemployed.

Loan lending companies ask you to have an active checking account approximately three months old to avail Student Loans For Unemployed Students because loan lending companies transfer the money into the borrowers account after the processing. Borrower should be more than 18 year of age to be eligible for Student Loans For Unemployed Students. Due to unsecured unemployed loans different lenders have different interest rate for the borrowers.

If the borrower has excellent credit history and crave to take Student Loans For Unemployed Students, the rate of interest may be somewhat few. If the borrower has worst credit history and crave to take Student Loans For Unemployed Students, the rate of interest may be somewhat more. The withdrawal of Student Loans For Unemployed Students is for 5 years. If the borrower is unable to repay the Student Loans For Unemployed Students within leased time, he will have to pay the extra charge of interest.

Source: http://www.articlesbase.com/loans-articles/student-loans-for-unemployed-students-furnish-the-cash-urgently-470093.html

Helpful:
projectonstudentdebt.org/state_by_state-data.php
www.youtube.com/watch?v=UpiEsUhx5s0

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Tuesday, 14 August 2012

Pay Off Student Loans


How To Pay Off Your Student Loans ASAP

There are many new college grads out in the workforce that are dealing with 5-and sometimes 6-figure student loan debt, and with the recession and unemployment rate still in full swing it's not a good time to be dealing with a ton of student loan debt.

Back in 2009 a typical student carried an average of $24,000 in student loan debt by the time they graduated. Consider that a small investment in comparison to what that investment will yield a student for the life of his career.

In any case, in this current economy it's not guaranteed that you're going to get that high paying job straight out of college, so there are some steps that every recent graduate should make that's carrying some student loan debt out there in the work force.

Put your repayments on cruise control. Everybody knows that your credit score can get in trouble by not making your payments on time, so it's a good idea to set up some sort of automatic payment schedule straight out of your bank account to pay for your student loans. Setting up automatic payments-through most banks-should be relatively easy, so it's worth taking those steps so you don't miss any payments.

10 year time horizon. Giving yourself a goal of paying off your student loan in 10 years will save you a significant amount of money in interest.

For example if you have $30k in student loans and you pay it off at 6.8% in 10 years your payments are going to be around $345 and the interest that you're going to end up paying is going to be a little over $11k in interest. If you run in some trouble and stretch out those payments for 20 years the interest you're going to end up paying on that loan is $24,960.95, and if you stretch those payments out to 30 years the interest you end up paying is going to be a whopping $40,405.93!

Organize your loans. If you went to multiple schools, obviously you're going to be juggling several loans. It's going to be imperative that you organize those debts or find some sort of system that organizes those debts for you. The government offers a great way to track your federal student loans, if you Google the National Student Loan Data System you will be able to find them.

Knock off the high interest rate loans first. Taking care of the high interest rate loans first is "Debt 101", if you take care of your highest interest rate debt first you will save yourself a significant amount of money in the long run.

Look into IBR. Everybody falls on hard times and if you're having a difficult time paying back your student loans you might want to look into the federal Income-Based Repayment program. The title of the program basically speaks for itself; the repayment plan is based on your income and makes the monthly payment a little more affordable.

Keep an eye on student loan news. The government is currently trying to cut back on as many things as possible, and sometimes education is the first thing to suffer from these cutbacks. It's a good idea to keep your eye out for any new developments that may affect your student loan or financial situation.

Correspond with the Federal Student Aid Ombudsman. There may be a good chance that you're going to run in some sort of problem with your Federal Student Aid, so it's a good idea to keep in contact with the Federal Student Aid Ombudsman to make ensure everything is running smoothly. When things don't run so smoothly it's also a good idea to make sure that you know where to go when you have a dispute with your lender.


Source: http://ezinearticles.com/?How-To-Pay-Off-Your-Student-Loans-ASAP&id=6281290

Helpful:
www.wikihow.com/Pay-off-Student-Loans
www.edustudentloans.com/how-to-pay-off-student-loans/

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Monday, 13 August 2012

Applying For Student Loans


Applying for no credit check student loans

Please keep in mind that financial assistance can be found in many forms, including no credit check student loans. It is not a secret anymore that the cost of negotiating a university education is very high. Millions of teenagers can not afford to cove the expense of attending the university of their choice. What's great is that there are many lending companies which provide them with the opportunity to get student loans with no credit check.

One of the most important benefits which are provided by these loans is represented by the fact that they do not require a cosigner. Moreover, those students who decide to apply for a no credit check student loan will not have to ask for the help of their parents.

Those student loans which are offered with no credit check are essential for millions of teenagers heading to college for the first time. If you find yourself in this situation you should not hesitate to contact a private bad credit lending company that offers no credit check student loans. Such a loan you will be able to solve your monetary problems.

Hundreds of lenders are ready to provide you with the opportunity to get no credit check student loans. The problem is that you have to be very careful when making your decision. It's important to focus on searching for a lending company that has a good reputation on the lending market. Financial specialists say that a lending company that has a good reputation will never disappoint its customers. By simply running a search on the web you can find more details about those lenders which offer affordable student loans.

The good news is represented by the fact that it will not be very difficult for you to apply for a no credit check student loan. Most lending companies require their customers to provide details about their credit score, debt to income ratio and address.

Please keep in mind that all those people who are interested in getting no credit check student loans are required to prove that they have a steady income. What's great is that private lending companies will never require their clients to prove that they have a stable job. These loans were specially developed for those students who can not afford to pay their studies. They will help you succeed in life.

Source: http://www.articlesbase.com/loans-articles/applying-for-no-credit-check-student-loans-5773527.html

Helpful:
www.aved.gov.bc.ca/studentaidbc/apply/
www.collegescholarships.org/loans/applying.htm

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Sunday, 12 August 2012

Education Loan For Study Abroad


Want Education Loan For Study Abroad

Education is very important for mankind. Without education, life is meaningless for him. Even earning sensible money for livelihood becomes tricky. To all people that are also competitive of purchasing higher education may be in a position to take loans to research further. Loans are provided to students to finish their education first before they start their career. This facility prevents student from dropping his or her education or to discontinue.

Government and financial institutions assist students during seeking needed loan to authorized them fulfill their dream of purchasing increased education. Too are also you actually actually aspiring to analysis abroad? You really essentially do not have to fret for this. You actually really will be ready to get Education Loans.

You really have to apply for loan from a bank and submit the documents that are also needed. Seeking loan is as well not really simple. Bank can also sanction your loan if you actually give some strong monetary background. If this condition is not enforced then loans is passed on conditions such because your salary quantity can also be deducted after you actually end your education and purchase a beautiful job. Education loans for study abroad also are required when you actually really also are aspiring to seek your education from abroad university.

Education Loans are also beneficial for those students who are as well fiscal weedy. They don't have enough money to study abroad to fulfill their dream of raised education. Loans are also as well provided for professional education, basic education or for a technical education. Irrespective of course, banks provides loan at the students for his or her bright career.

It suggests if you actually also are searching for a bright future and deprived of coughing up the college charges. Your problem of getting raised education is solved, because you actually have an choice to apply for a loan to complete your studies. Bank too considers the course for which you actually suffer cited to get loan. If your school or institution isn't recognized by the bank you actually take imposed for loan, you very can also have problem in loan sanction. Usu bank sponsors students or aspirants who are too applying to a famous or registered institution by the education governing organization. If each one your documents are also correct and satisfies the bank then you actually exceedingly may also buy loan. The prime lending rate of the education loan is very low compared to other loans. The repayment tenure for the loan is around 5-7 years.

When you actually exceedingly take got education loan, be relax and finish your education. You actually need not to believe about the repayment and other stuffs. According at the loan document, you take to repay the loan most reasonable following your education is end and you really really have started working somewhere. If you actually exceedingly experience not started working after completion of your studies, you really may get some grace period from the bank to repay the loan. The grace period may also be a year or a pair of.

These sorts of facilities take helped students to fulfill their dream and become a successful the flesh in their life. Bank is a beautiful medium to help student reach on best during his or her life. They experience helped them to build country bright by providing bright students who are satisfactory in doing something remarkable for their nation.

Source: http://www.articlesbase.com/college-and-university-articles/want-education-loan-for-study-abroad-3142647.html

Helpful:
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Saturday, 11 August 2012

Interest Free Student Loans


Interest Free Student Loans: Is There Such An Option?

Millions of people every year have to take out private or federal student loans each year to cover the tuition costs, course materials, and day to day living expenses associated with going to college. If you are due to be going away to college yourself in the near future, and the amount your family can afford to put towards it combined with any scholarships or grants you receive is not going to be able to adequately fund your college education, then you should be learning all you can about the different types of loans available to students to help you ensure you get the best possible deal.

After all, any debt you get into while in school is likely to stay with you for the next ten years at the very least. In some cases people are paying off student loans over twenty-five years, which is a huge proportion of your working life, so you want to make sure you are paying as little interest as possible.

Interest is accrued based on an annual rate and means that the longer you have the loan, the more accrues and the more your loan eventually works out costing you. If you had an interest free student loan, no interest would ever be charged and so you would pay the exact dollar amount you borrowed back and not a cent more, despite what might happen with the rate of inflation over the period of your loan.

Unfortunately, there are no standard interest free student loans. The lowest interest rate, at a fixed rate of 5% APR, comes with the federal Perkins loan, and this is only available to students who can demonstrate a significant financial need when compared with other students at the same school. Also, the maximum amount you can be awarded as an undergraduate is $4000 per year, and this maximum is not even awarded to everybody accepted to receive the Perkins loan, so there is a strong likelihood you will also need additional funding.

The only way possible to get an interest free student loan, which could save you thousands over the course of the loan's lifetime, is to get a loan from a charity or other non-profit organization. These are available to a very limited number of students in a given area who can demonstrate a real need for the loan, and can show they will benefit from it substantially more than other applicants.

The number and location of organizations offering these loans varies from year to year, but if you are in serious financial hardship or could be considered exceptionally gifted it is definitely worth looking into loans of this type in your city or state.

If you can't get any help from this route, then unfortunately you are going to have to take out student loans that will accrue interest. The federal loans are the best, but limited to smaller amounts of money. If you have to supplement what you can get in Perkins or Stafford loans with private loans, the best thing to do is shop around for the best deal.


Source: http://ezinearticles.com/?Interest-Free-Student-Loans:-Is-There-Such-An-Option?&id=6469036

Helpful:
www.aved.gov.bc.ca/studentaidbc/apply-online/interest-free
www.usnews.com

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Thursday, 9 August 2012

Types Of Student Loans


Different Types Of Student Loans To Fit Your Schooling Needs

Everybody dreams of a secured future that will spare anyone with hunger and uncomfortable life. Everybody wants to fulfill their lifelong ambitions of having to excel in their chosen professional field. Before being carried away to dream land, one must be able to grasp the bitter truth of reality that the cost of education is indeed rising.

There are different situation that may hamper you to finish your education. Whatever they may be, at least a majority of these situations will involve financial instability. Nevertheless, one must not give up confronting the challenges towards the path of achieving your college diploma.

For a struggling but hard working student, there are different ways to ease their daily schooling needs. Some are privileged enough to be provided by university scholarships, some are gifted and talented that they have varsity and editorial scholarships. Student leaders gain incentives too. On the other hand, students who do not fall under these categories apply for part time job in establishment and stores near the university. They usually work at night shift and will attend classes the next day. This causes them to be too tired to go to class or sleep during class. Worst, their academic performances suffer and will reflect on their failing marks.

No matter these situations are, there are different types of financial aid loans to fit and response to your academic necessities.

Financial aids are created intentionally to help student to pay for their schooling needs such as university tuition, books and other living expenses. Student financial aid loans generally has lower interest than other types of loans. Repayment schedule will only be made only 6 months after graduation.

Student financial aids come in to different types such as federal and private student loans. Federal student loans are financed and provided by the government while private student loans are from the private or business sector.

The Department of Education takes care of approval of application and release of student loans. Student loans provided by the government are the realization and response to the citizen's inherent right to quality education accessed by all. It utilizes a loan program that went under federal guarantee making this type of loan very credible. All the more.

This service permits student to borrow a definite financial amount that comes with a significant meager interest. Payments will not be made while the student is still studying. Thus, payment will be taken into action only after graduation but will still vary upon the loan agreement chosen by the student - borrower.

As the term suggests, private student financial aid loans are provided by the members of the private sector such as business men, concerned citizen and philanthropies through their socio-civic institutions or foundation. Interest rate will differ from one student loan to another depending upon the administration and decision of the student loan providers.

Before getting into any type of student loan, a prospect borrower must thoroughly understand and should be familiar with its basic attributes. It should take notice of interest rates, payment options, incentives and origination fees.


Source: http://ezinearticles.com/?Different-Types-Of-Student-Loans-To-Fit-Your-Schooling-Needs&id=5733620

Helpful:
collegesavings.about.com/od/typesofstudentloans/
gradschool.about.com/od/financialaid/a/loans.htm

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Wednesday, 8 August 2012

Alternative Student Loans


Guide to Finding an Alternative Student Loan

Although US Department of Education student loans are the most common form of financial aid, sometimes families find they need an alternative student loan to get their children through college. For one thing, competition is rising to secure the limited number of federal student loans, and if your application is not received early, you might not receive any aid.

At the same time, the maximum loan  amount available through a Stafford loan has stayed the same for over ten years, while tuition costs continue to soar. Furthermore, most federal student loans presume that parents will foot part of the bill, but some parents are unable or unwilling to contribute to the student's education fund, leaving even ore money for the college applicant to come up with.

If federal student loans are not enough to cover a college attendee's bill, then he or she needs to find an alternative student loan. The most common form f alternative student loan is the private loan, which is offered by banks and other lending institutions.Students with poor or no credit might require a co-signer on the loan, however, and lternative loan rates might not be as stellar as with Department of Education loans.

The financial aid ffice of most universities will be able to help students find a banker that offers an alternative student loan at a fair interest rate.The personal bank of the student's parents might also offer educational loans. Young adults searching for an alternative student loan should be very careful to read the fine print of any private lender and to shop around to receive the best rates. Of course, before signing on the dotted line, students might consider ways to avoid an alternative student loan altogether.

Some creative ways to lower college costs include researching accelerated study courses which take less time to earn a degree, attending a less expensive community college for the basic credits and then transferring to a more prestigious school for the last few years, and scholarships. There are oftentimes more scholarships available than people realize; a local grant may be enough to bring college expenses to a manageable level.

There are even colleges that charge no tuition at all, requiring instead that their students work a few hours a week at jobs related to their course of study. Not only is this a way to secure an inexpensive education, but it also provides valuable experience in your field. Finally, some investment groups offer creative ways to fund college by banking on the student's future earnings.

They will pay the college costs in exchange for a percentage of future earnings for a fixed period. Whether you finance your college fees through alternative student loans or simple ingenuity, there is no reason today for tuition costs to hinder students from receiving an education. Even if federal student loans do not seem to be enough, there are many ways to get an excellent education and to secure a brighter future

Source: http://ezinearticles.com/?Guide-to-Finding-an-Alternative-Student-Loan&id=84772
Helpful:
moneyfor20s.about.com/od/studentloanalternatives/
www.alternativestudentloans.org/
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Tuesday, 7 August 2012

Student Education Loan


Get Student Education Loan and Study at India or Abroad

Education is of prime importance in our lives. Although, Government of India has made education free and compulsory up to 14 years of age; it is getting extremely expensive to get quality education. The scholarships offered by esteemed universities are very few in comparison to the many hopeful and deserving applicants.

Due to the expenses, eager minds of these students are left unbridled. But all's not bleak and gloomy, in fact, now the situation is quite the contrary. Education in India is thriving thanks to student education loans provided by many government and private banks. Let's take a look at some of the features of student education loans.

Eligibility To Get Education Loans

Generally, education loans are provided to students of Indian nationality within the age group of 15-30 years. Another requisite of Education Loan is that the student applying for the loan must have a working parent or a guardian to be the guarantor. The Loan approval will be based on the capability of the borrower and the guarantor's assets, liabilities, income, etc. Also, the student must hold a good academic record and he/ she should have secured admission by clearing the necessary entrance examinations for that course.

The Nature Of The Course

One can benefit from the student education loan for courses in India which are approved by the state and central government as well as courses from foreign universities. The nature of the course and the reputation of the university may be checked by the bank providing the student education loan. The student education loan covers tuition fees, library, hostel, as well as other expenses of books, uniforms, travel, etc.

The Maximum Loan Limit

The maximum loan limit for studies in India is Rs. 10 Lakh and the maximum loan limit for studying abroad is Rs. 20 Lakh. If the loan is for Rs. 4 Lakh and above, then 5% of the margin is applied for studies in India and 15% for studies abroad. For loan up to Rs. 4 Lakh, there are no security requirements. However, if the loan amount is higher than that, then one has to provide some sort of an assurance like property, LIC policies and Government securities. Many institutes have tie-ups with banks thereby providing lower rates.

The Period Of  Repayment

The repayment option for a student education loan is very flexible. Usually, one has to start paying the EMIs after the completion of the course but in case the student does not get a job then a grace period of 6-12 months is offered. In the due time, if the student gets employment then he has to start the EMI payments. The period of repayment varies from bank to bank.

These days almost every bank offers student education loan, so you will have a wide range of plans to choose from and get the best one according to your needs and requirements. student education loan assists the youth of our nation in pursuing their aspirations.

Source:
http://www.articlesbase.com/loans-articles/get-student-education-loan-and-study-at-india-or-abroad-2248591.html

Helpful:
www.successcds.net/Student_loan.htm
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Monday, 6 August 2012

Education Loans For Students


Student Education Loan

In this growing economy, the price of living increases daily, from groceries, to gas, to utilities and most importantly, education. A proper education is vital to everyone in this day and age because without a decent knowledge of the various topics and subjects, living in this technologically advanced world would be extremely difficult. Like I mentioned before, the price of education isn't exactly the cheapest. Education past high school is the most important and also quite costly.

Fortunately, the government and other public and private organizations provide loans to help assist with educational financing. One would be quite lucky to reserve full financing through the government without having to repay. Private and Federal Education Loans are provided for the citizens who wish to further their education but need financial assistance.

Federal Education Loans are the largest sources of funding that the federal government provides. The advantages of these loans are that they have low fixed interest rates and may be used to pay off the major costs of college education such as text books, tuition and accommodation. persons seeking financial aid for college should consider this as their primary options since it is the least costly and help you pay back less in the future.

There are also private student loans that can help you fill in the gap between what federal assistance offers and what you actually need, or as you sole form of financial aid. Majority of students would need a creditworthy co-signer in order to attain a private college loan. An advantageous feature of a private college loan is the ability to completely deter repayment until after you graduate from college.

With all these option out there is is nearly impossible for a motivated individual not to further their education. If you're in a bad financial situation I'm sure that once it is explained properly to the lenders your plea would be taken into consideration. They key to these college loans is being careful when making your decision and ensure that you don't ask for more than you need. Whatever the financial aid might not be able to cover, such as your day to day expenses, part time employment can be considered to make ends meet.



Source: http://ezinearticles.com/?Student-Education-Loan&id=6420613

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www.successcds.net/Student_loan.htm

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Saturday, 4 August 2012

Private Student Loans


Private Student Loans Without Cosigner


Private student loans without cosigners as well as those requiring cosigners are made available by banks, credit unions and private lenders, like Sallie Mae, Nellie Mae and Student Lending Corporation, who provide both private and federally backed and guaranteed student loans.

Private loans can be considered by students who have maxed out their Perkins and Stafford loans and have tried applying for federal student grants, viz. Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Academic Competitiveness Grant (ACG) and the National Science and Mathematics Access to Retain Talent Grant.
Eligibility Criteria for Availing Private Student Loans

  • The student must be of legal age for entering into any kind of contract, viz. 18 years in all states except Alabama and Nebraska, where the legal age is 19, and Mississippi and Puerto Rico where the legal age is 21.
  • The borrower should have proof of address.
  • Satisfactory credit history is mandatory for the borrower (or cosigner).
  • Verifiable employment history is desirable.
  • Good future earning prospects on completion of education is also desirable since repayment is contingent on the same.
  • The student should be attending an eligible institution which is the same as saying that, the college must be accredited to some recognized university in the US.
  • The borrower should be a citizen or a permanent resident or else, he/she should have a cosigner who is a US citizen or a permanent resident.

Private Student Loans: No Cosigner Needed
Getting someone to cosign for private student loans is difficult since a cosigner will be held liable if the student defaults on the loan. One must note that a great deal of emphasis is laid on the credit history and the credit rating of the borrower. In fact, on applying for a private student loan, the lender requests credit information about the borrower from one of the three major credit bureaus. However, disbursers may be willing to consider an applicant for the so-called no cosigner private student loans if the latter has an established credit history and superior credit scores.
International students cannot apply for a private student loan unless they have a cosigner who is either a US citizen or a permanent resident.
Consequences of Availing Private Student Loans Without Cosigner
Regardless of a satisfactory credit score or an established credit history, getting someone to cosign the loans has the effect of reducing the interest rate on the loans procured by the borrower. This is because the cosigner is effectively the co-borrower and the lender can always hope to recover dues by contacting the co-borrower.
Despite the availability of private student loans without the cosigner, it may be advisable to have a credit worthy cosigner in case one is denied the loans due to unsatisfactory credit history. Cosigners should acquaint themselves with the repercussions and the pitfalls of cosigning before they agree to assume legal obligation for the debts of the primary borrower.

Source: http://www.buzzle.com/articles/private-student-loans-without-cosigner.html
Helpful: www.privatestudentloans.com/ - United States
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Friday, 3 August 2012

Online Student Loan


Online Student Loans - Specially Framed For Learners

It is every persons dream to complete his/her education. But some cannot bring this dream into reality due to shortage of funds. Online student loans are finances which offer the applicant a chance to complete his/her education. They are finances which are specially framed out for learners.
Usually, taking an advance is not an easy job. You have to wait in long queues for a long time to get your advance sanctioned. But these finances have modernized the whole process. This process has become popular due its paperless operation.
For applying through the online mode for online student loans, the application form is to be filled up. Then, the lenders verify the details and then after approval the amount is credited into your account. This form of applying saves time and energy.
There are some preconditions that have to be fulfilled. They are that the candidate should be above the age of 18, you must have a valid and active bank account, you must possess citizenship of UK and you must be regularly employed.
They are granted to those learners who want to complete their education. They are approved to you so that you can finance various needs like traveling expenses, purchasing books, mobile bills, lodging charges and so on.
They are available in the secured and the unsecured form. The secured form requires some asset as a guarantee. A sum varying from £500 to £100,000 is provided. In the unsecured form you are not required to provide a guarantee. In this form, you can fetch an amount extending from £1000 to £25000 which has to be repaid within 1 to 25 years.

Source:
http://www.articlesbase.com/loans-articles/online-student-loans-specially-framed-for-learners-4117813.html
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Thursday, 2 August 2012

International Student Loans


International Student Loans: Make Your Dream Come True to Go Abroad

In today's era, every student has a dream to go abroad for study. Such dream isn't it also? Because the education has made rivalry for the students, hence every student covet to go ahead in education but studying in abroad it is a hassle for the students to manage for the cash. 

As you comprehend that the traditional banks can't bestow you amount to go abroad for study; still you don't need to concern for the cash because International Student Loans are available to patronize you anywhere. Hence, these loans are very beneficial for the international students. International Student Loans are very suitable for the purpose of higher studies as the study courses like medical, engineer, science, commerce, arts or others. 

During study in these courses, you can cover the expenses like hostel charges, purchasing books, instruments, laundry fees, travel expenses and moreover you can also purchase a new own computer that assists the students to streamline easy education. If you don't get the opportunity to possess scholarship from your university then you can go for International Student Loans. 

The students observing education in the United State of America (USA) are worthy possessing International Student Loans. The students have to get a hold one co-signer who will take the whole responsibility of their loan. As students are non-employed so the requirements are less here. International Student Loans can be obtained in two orders secured as well as unsecured loans. 

In order to unsecured loans are the best options for you when you are in need of urgent cash, just you can apply for this loans easily and the moment of approving cash, that is all you are in registered in College or University and your proof of enrollment but for this loan the rate of interest is a bit higher by reason of your collateral is not puzzled in these loans. In order to secured loans are the best to get the lowest rate of interest. The withdrawal term for International Student Loans is longer one. Graduate repayment is automatically postponed until six months after graduation or dropping below half-time enrolment. Reimbursement can be postponed on undergraduate loans. 

The advantage of International Student Loans is that competitive rate of interest, applying is easier and approval is quicker, no application fees, funding in as few as five business days from receipt of application. International Student Loans are the boon for every student to go abroad for study.

Source:
http://www.articlesbase.com/loans-articles/international-student-loans-make-your-dream-come-true-to-go-abroad-607977.html

Helpful:
www.internationalstudentloan.com/
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Tuesday, 31 July 2012

student loan


Why Student Loan Consolidation?

Due to the rising cost of higher education, a large number of students have been forced to finance their education by getting student or education loans. While student loans are easy to get and come with the cheapest rates of interest, paying them off is not so easy for the vast majority of students who find themselves facing mountains of student loan debt.

People generally find it tough to pay back student loans because the loan installments are not calculated keeping in mind other types of student loan debt. Most students also accumulate a number of other loans like huge credit card bills and car loan, which also require financing upon graduation. The best way of getting out of this kind of debt trap is to go in for student loan consolidation. A student loan consolidation program can be a lifesaver for a student and can totally turnaround a negative student loan debt situation to one of good fortune.

There is no logical reason not to seek out student loan consolidation. By finding a student loan consolidation program that meets their personal student loan debt needs, students can avoid defaulting on payments which will leave a permanent red mark on life long credit history. This would make it difficult to get any kind of financing when necessary in the future. On the other hand, by undertaking student loan consolidation, there is the opportunity to easily reduce student loan debt or in some cases eliminate the student loan debt while obviously at the same time streamlining finances and budget. Most student loan consolidation programs also offer credit counseling, which will help you in managing your finances wisely in the future.

The student loan consolidation company pays off all of the student loan debt. This means that the student loan consolidation program payment will be the only payment obligation and can be paid off in easy monthly installments. Students have the option to pay back student loan consolidation charges over a period ten to thirty years. With student loan consolidation, student loan debt has been reduced or eliminated with future obligations becoming due at a time when more earning power is likely.


Source:
http://www.articlesbase.com/finance-articles/why-student-loan-consolidation-211733.html

Helpful:
https://studentloans.gov/
www.fafsa.ed.gov/

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Saturday, 28 July 2012

Apply for a loan - Students Aid

Students Loans Refinancing


Student loans refinancing is an aid needed by students who have some problems paying their Student loan on time. A student may consider refinancing student loans when he/she cannot handles payments with multiple loans. Multiple loans can be described as multiple interest rates. By refinancing student loans, students may be able to consolidate their multiple loan payments into one low interest rate. That is why, student may save thousands of dollar by refinancing their loans. Keep in your mind that many lenders will ask for credit report when someone applying for student loans refinancing. A student will be able to qualify if he/she has a good and valid credit report. Student can submit the application through banks or credit lenders.

A student loan is designed to help students pay for university tuition, books, and living expenses. It may differ from other types of loans in that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still in education. It also differs in many countries in the strict laws regulating re-negotiating and bankruptcy.

Australia

Tertiary student places in Australia are usually funded through the HECS-HELP scheme. This funding is in the form of loans that are not normal debts. They are repaid over time via a supplementary tax, using a sliding scale based on taxable income. As a consequence, loan repayments are only made when the former student has income to support the repayments. The debt does not attract normal interest, but grows with CPI inflation. Discounts are available for early repayment. The scheme is available to citizens and permanent humanitarian visa holders. Means-tested scholarships for living expenses are also available. Special assistance is available to indigenous students.

There has been criticism that the HECS-HELP scheme creates an incentive for people to leave the country after graduation, because those who do not file an Australian tax return do not make any repayments.

United Kingdom

Student loans in the United Kingdom are primarily provided by the state-owned Student Loans Company. Interest begins to accumulate on each loan payment as soon as the student receives it, but repayment is not required until the start of the next tax year after the student completes (or abandons) their education.
Since 1998, repayments have been collected by HMRC via the tax system, and are calculated based on the borrower's current level of income. If the borrower's income is below a certain threshold (£15,000 per tax year for 2011/2012), no repayments are required, though interest continues to accumulate.
Loans are cancelled if the borrower dies or becomes permanently unable to work. Depending on when the loan was taken out and which part of the UK the borrower is from, they may also be cancelled after a certain period of time, or when the borrower reaches a certain age.

United States

In the United States, there are two types of student loans: federal loans sponsored by the federal government and private student loans.[2] [3] The overwhelming majority of student loans are federal loans.[2] Federal loans can be "subsidized" or "unsubsidized". Interest does not accrue on subsidized loans while the students are in school. Student loans may be offered as part of a total financial aid package that may also include grants, scholarships, and/or work study opportunities.
Prior to 2010, federal loans were also divided between direct loans--originated and funded by the federal government--and guaranteed loans, originated and held by private lenders but guaranteed by the government. The guaranteed lending program was eliminated in 2010 because of a widespread perception that the government guarantees boosted student lending companies' profits but did not benefit students by reducing student loan costs.

Federal Student loans are generally less expensive than private student loans. However, the federal student lending program still generates billions of dollars in profit for the government each year, because the interest payments exceed the government's own borrowing costs, loan losses, and administrative costs. Losses on student loans are extremely low, even when students default, in part because these loans cannot be discharged in bankruptcy unless repaying the loan would create an "undue hardship" for the student borrower and his or her dependents.


Income-Based Repayment


The Income-Based Repayment plan is an alternative to paying back student loans, which allow the borrower to pay back the loan based on how much he/she makes, and not based how much money is actually owed.
IBR plans generally cap loan payments at 10 percent of the student borrower's income. Interest accrues and the balance continues to build. However, after a certain number of years, the balance of the loan is forgiven. This period is 10 years if the student borrower works in the public sector (government or a nonprofit) and 25 years if the student works at a for-profit. Debt forgiveness is treated as taxable income.

Scholars have criticized IBR plans on the grounds that they create moral hazard and suffer from adverse selection. That is, IBR may encourage student borrowers who could have obtained high-wage jobs to take low wage jobs with good benefits and minimal work hours to reduce their loan payments, thereby driving up the cost of the IBR program. And, if IBR programs are optional, only students who expect to have low wages will opt into the program. Historically, a number of IBR programs have collapsed because of these problems.
Qualification.

Most college students in the United States qualify for federal student loans. Students can borrow the same amount of money, at the same price, regardless of their own income or their parents income, regardless of their expected future income, regardless of their credit history. Only students who have defaulted on federal student loans or have been convicted of drug offenses are excluded.
The amount students can borrow each year depends on their education level (undergraduate or graduate), and their status as dependent or independent. Undergraduates may receive lower interest rates than graduate students, but graduate students can typically borrow more per year.

Private lenders may use different underwriting criteria, including income level, parents' income level, and other financial considerations. Students will generally only borrow from private lenders when they exhaust the maximum borrowing limit under federal loans. Several scholars have advocated eliminating the borrowing limit on federal loans and enabling students to borrow according to their needs (tuition plus living expenses) and thereby eliminating high-cost private loans.

Repayment


Federal student loan interest rates are established by Congress and listed in § 20 U.S.C. § 1087E(b). Because the interest rates are established by Congress, interest rates are a political decision. The federal student loan program currently runs a multibillion dollar "negative subsidy", or profit, for the federal government. Some scholars have suggested that federal student loan interest rates should be tailored to particular courses of study and reflect the riskiness of those different courses of study. They have also suggested that the program should be run at cost, or below cost, because of the benefits and educated workforce provides to society--lower burdens on public services, lower health costs, higher wages and tax revenues, lower unemployment.

Repayment typically begins anywhere from six to twelve months after a student leaves school, regardless of whether or not they complete their degree program. In some cases, repayment begins if course load drops to half time or less, so it is important to check the exact terms and conditions of any student loan.
The student may have multiple options for extending the repayment period, although an extension of the loan term will likely reduce the monthly payment, it will also increase the amount of total interest paid on the principle balance during the life of the loan. Extension options include extended payment periods offered by the original lender and federal loan consolidation. There are also other extension options including income sensitive repayment plans and hardship deferments. Extensions and consolidation will also add to the principal, many times unpaid interest and penalties become capitalized.

The Master Promissory Note is an agreement between the lender and the borrower that promises to repay the loan. It is a binding legal contract.

Criticism

In coverage through established media outlets, many borrowers have expressed feelings of victimization by the student loan corporations.There is a comparison between these accounts and the college credit card trend in America during the 2000s, though the amounts owed by students on their student loans are almost always higher than the amount owed on credit cards.Many anecdotal accounts of the hardships caused by excessive student loan debt levels are chronicled by the organization Student Loan Justice which is founded and led by consumer rights advocate and author Alan Collinge.

There are many documented cases of Americans committing extreme actions because of large student loan balances. This seems particularly true in the case of private loan balances.After the passage of the bankruptcy reform bill of 2005, even private student loans are not discharged during bankruptcy. This provided a credit risk free loan for the lender, averaging 7 percent a year.

The biggest lenders, Sallie Mae and Nelnet, are frequently criticized by borrowers. These lenders often find themselves embroiled in lawsuits, the most serious of which was filed in 2007. The false claims suit was filed on behalf of the federal government by former Department of Education researcher Jon Oberg against Sallie Mae, Nelnet, and other lenders. Oberg argued that the lenders overcharged the U.S. government and defrauded taxpayers of millions and millions of dollars. In August 2010, Nelnet settled the lawsuit and paid $55 million.

The New York Times published an editorial in August 2011 endorsing the return of bankruptcy protections for private student loans in response to the economic downturn and universally increasing tuition at all colleges and graduate institutions.

Helpful Link -
 www.aved.gov.bc.ca/studentaidbc/apply/
 www.studylink.govt.nz › Financing Study
 www.direct.gov.uk/en/.../StudentFinance/.../DG_171539

Visit to - http://applystudentloansoffers.blogspot.com/

Source: http://en.wikipedia.org/wiki/Student_loan

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