BUYING GUIDES..since 1995
|
GALT HOME:
Internet Guides - Finance - Audio/Video - Travel - Household/DIY - Health - Cars - Fashion - Sports - Entertainment - Cell Phones |
| MENU: Technology and Internet Guides | Travel | Health | Household | Sports ...independent online guides since 1995 |
Best Student Loan Programs - Federal Stafford Loan - Federal Parent PLUS Loan - Perkins Loans:If going to college requires financial aid (like most college students these days), then you have options on how to fund the tuition and expenses during your college years. Make sure you have exhausted all forms of scholarships, grants and work-study funds before looking for student loans. There are student loan programs like Federal Parent PLUS Loans for Students, Federal Stafford Loans, Private loans, and Perkins Loans. A Perkins Loan (which is the most affordable Federal Loan) is available to college age students who are in financial need. Undergrads can borrow up to $4000 and graduate students can get $6000 in their own name and no credit check is required. Perkins Loans are made by the school with allocated government funds. Students must have already applied for the Federal Pell Grant to be eligible for a Perkins Loan.
Private Student Loans:Private education loans are "unsecured, credit-based loans available to students, parents, or other adult sponsors who may act as co-applicants on the applicationif the student does not meet creditworthiness requirements". These loans are meant for people who have exhausted all resources in terms of financial aid from federal government and grants or scholarships. Private loans often carry a higher interest rate than federal loans but again defer payments until the student has graduated. Usually there is a 6 month timeframe after graduation before payments begin to give the new graduate a chance at employment. With college tuition at many universities (especially for out of state students) reaching $30,000+, student loans are becoming more and more commonplace.Student Debt Consolidation and Student Loan Refinancing:With interest rates being so low recently, even the Federal Loan programs for students have seen rates drop to all-time lows (often reaching 2.75%). Many students come out of college with student loans through financial aid or government programs and should refinance their student debt with any credit card debt they may have. This way they are assured of getting the lowest interest possible when paying back $1000's. Even if you consolidated your loans years ago, perhaps a student loan refinancing is in store for your debt. Look into the current rates and talk with a support person at sites like FedEdLoan.com or NextStudent.com. They can inform you of your options and what is the best solution for your student loans. They can many times reduce payments by 50%.Student Loan Consolidation Rates:What rate should you be paying on your student debt? If you are paying over 3%, then keep reading since many Federal Stafford loans and other lending institutions offer student loan consolidation at 3% or less. Recently a report showed that the average college student comes out of school with $15000-$17000 in student loans plus $3000 in credit card debt. Most young adults are not that great with budgets and financial matters when they just graduate, so seeking a loan consolidation service to handle your student loan payments going forward is a good idea. Check with any resources on your campus before graduating or go to a website like StaffordLoan.com where you can research and learn about debt that students have.
Do you have a quality site or product that belongs in this guide? We are always happy to evaluate or review new products and websites. Feel free to contact us at the email address below and let us know about you. If you have a demo product you'd like us to look at, please contact us before sending anything. Thank you.
Send email to: galtemail (@) yahoo.com
|
