2012年10月29日 星期一

Refinancing Private Student Loans Tips

-->

1. Understand What Loans You Can Refinance
2. Know Why And How Your Payment Is Changing
3. Read The Fine Print
4. Check Your Credit Score
5. Look For Incentives  Article Source: http://EzineArticles.com/7149079
Private Student Loans Tips,Student Loans Tips,Student Loans

-->

Managing Student Loan Debt Tips

-->

1. Maintain the "Broke" Student Mentality
2. Develop a Cash Flow Statement and a Budget and Stick to Them
3. Monitor Your Credit Report
4. Learn About Your Student Loans and Your Repayment Options
5. Think About Lowering Your Interest Rate with Student Loan Consolidation Programs
6. ALWAYS Pay Off Your Higher Interest Loans First
7. Defer Payments if Necessary. Do Not DefaultArticle Source: http://EzineArticles.com/7108782
-->

2012年8月30日 星期四

consolidation programs-Pros and Cons About Private Student Loans

-->
consolidation programs,Private Student Loans,Student Loans -------------------------------------------------------------------------------- consolidation programs are 4 types:
 1.The Extended Payment Plan Students who have a very low monthly income are set to struggle to meet even improved terms.

 2. Standard Consolidation Plan Clearing college debts with this program is ideal because it limits the term of the agreement to 10 years, with monthly payments to be made according to a set schedule.

 3.Income Contingent Payment Plan The fourth available consolidation program for federal student loans is the Income Contingent Payment Plan, which takes into account a lot more than the other plans.

 4.Graduated Payment Plan A Graduated Payment Plans allows for a structured repayment schedule that starts very low and gradually gets bigger, as income and circumstance improves.
consolidation programs,Private Student Loans,Student Loans -
 Article Source: http://EzineArticles.com/7207568 ---------------------------------------------------------- -->

the majority of private student loans



private student loans,student loans
------------------------------------------------------------------------------------------------------------------------------------------
1, the majority of private student loans would need co-signers. It raises danger for banks, thus the banks includes cosigner who can guarantee that the student will repay the student loan debt once graduated. Most of cosigners are usually parents of prospective college students or close family members. 
2. While federal loans are administered by students needs and financial situations, private student loans are centered on credit history. This means that individuals with great credit score commonly receive a better rate and other good aspects than people who have poor credit ratings.
3.Many private lenders give you different types of repaying methods like government. 
4.University students will have less burden with monthly payments with this option One of more popular choices students choose though is a deferred repayment. That means that students only focus on their school activities while in school, instead start paying back after graduating school.
5.Most of private lenders do not offer a grace period. Students with government loans typically get 6 - 9 months grace periods. Article Source: http://EzineArticles.com/7187597
------------------------------------------------------------------------------------------------------------------------------------------
private student loans,student loans

type of student loans available


Student  Loans,Student  Loans types,tuition fees loan,Maintenance loans
------------------------------------------------------------------------------------------------------------------------------------------------------
Student  Loans are now split into two different types;
a tuition fees loan for full and part-time students which will cover the costs of the course fees until the time comes when you need to start paying it back, 
Tuition fee loans are paid directly to the university or college that you're signed up to - though it's important to note that in the case of some private universities, this loan may not be enough to cover the course fees in entirety - check with the university to see how much the fees are and whether you will need to find alternative ways to source finance.
Maintenance loans are student loans that are paid straight into your bank account every term, and are calculated on your financial position. If your parents or partner earn above a certain income, the amount of money you can claim may be reduced. These loans are there to help you with your living costs, such as paying for your student digs (and associated bills), food, study materials such as books and travel. From 2012, every full-time student is eligible for 65% of the maximum loan amount, with the remainder assessed on income and any grants or bursaries you may have been awarded.

maintenance loans which are there to help you cover your living costs - although these are available to full-time students only.

Maximum loan amount
The maximum annual loan you can get in the academic year of 2012/2013 is £4,375 if you're still living with your parents, or £5,500 if you're responsible for financing your own student digs - rates are higher in London to account for the increased living costs.
Student  Loans,Student  Loans types,tuition fees loan,Maintenance loansArticle Source: http://EzineArticles.com/7233024

2012年7月28日 星期六

Finding A Student Loan Payment Calculator


loan calculator.
In order to get a clearer picture of what a student loan calculator does, you must fully familiarize yourself with the concept of a student loan. A student loan is basically a form of financial funding in order for college students to pursue their dreams of getting their most coveted college degrees.
Such kind of financial help can come from a variety of lenders and they also come with different sets of terms and conditions, interest rates and repayment terms. Because of this, the student borrower must plan ahead on how the regular monthly repayments of his student loans will be structured. Think of the loan payment calculator as a repayment planner for student debts. In fact there is no difference between a regular loan payment calculator and one used just for student loans.
 calculator will also give you an idea of how much the actual interest charges you are paying and how much your targeted minimum salary should be in order to have sufficient cash flow ri live on and still make your payments.
There are a lot of good loan repayment calculators you can choose from online. There are many easy to manage programs which will help you get a bigger picture of personal loan management. If you find that you still have some questions you have regarding your student loans, it is best to meet up with your loan servicing institution or loan provider to get an accurate estimate of your loan payment schedule.
So despite all the hype there really are no student loan payment calculators. If find someone who is selling one then you should assume it is a scam. You can get all the loan payment estimates by just using an on line loan calculator.
Article Source: http://EzineArticles.com/964631

2012年7月27日 星期五

Get Student Loans With Bad Credit



There are two main types of student loans to avail. The first is a government-sponsored loan which requires no credit check. These loans, also called Stafford Loans, are given to a student based on his status as a student only. The other qualifications for a Stafford Loan are really simple. They include:
  • Completing a FAFSA form.
  • Being a U.S. citizen, a permanent resident or a qualified non-citizen.
  • Attending a participating institution at least half time.
  • Being current on the repayment of all other student debt.
That's it. You can be in debt in other areas, such as credit cards or personal loans, but as long as you have no other student loans or are currently repaying the ones you do have, you are all set for a Stafford Loan. There is no credit check required which means that your bad credit score will not have any bearing on your qualification for funds. The only determination that your application will secure is the amount of money you will be eligible to receive and whether or not the interest on that loan will be subsidized or unsubsidized. This determination is based on need alone.
Private Student Loans Article Source: http://EzineArticles.com/7077155

2012年7月23日 星期一

Student Loans - What Parents And Students Need To Know


The U.S. government clearly understands the importance of post secondary education in positively impacting the nation. It therefore ensures that each eligible student in the United States is able to receive financial assistance for higher education.
Although parents can opt for private funding through sources like banks and other financial institutions, the rates of interest can be prohibitively high in most cases. On the other hand, the interest rates of federally funded student loans are much less in comparison. It is therefore imperative that parents take all steps necessary to apply for student loans available through the federal government.
Federal Student Aid is actively involved in educating students and their families on the exact procedure to obtain student loans. Once the applications are received, it processes them by the millions before the start of each academic year. It also disburses billions of dollars through schools to fund the education of students who have applied for financial aid.
The first step in applying for financial aid is to fill and submit the FAFSA or Free Application for Federal Student Aid. The name of the student should be entered exactly the way it is mentioned in the student social security card. The format used is 'first name', 'middle initial' and 'last name'.
Since the analysis bureau would be linking up the FAFSA with the social security number, the names should match precisely for the application to be approved. A mismatch in the names could result in the application being sent back for correction. This would cause a delay and end up pushing the applicant to the back of the line. Since most financial aid is provided on a first-come-first-served basis, it is important to be at the head of the line. Even a minor error on the FAFSA can result in a loss of thousands of dollars in financial aid.Article Source: http://EzineArticles.com/6861489

Student Loans

2012年7月21日 星期六

Getting Student Loans


Getting Student Loans With Bad Credit



If you want to have a brilliant own future.One of the best investments for  young people is going to college.Because you will have a greater employment opportunities.Student Loans
The problem is finding a way to pay them when bad credit is a factor. For many, the only answer is a student loan with bad credit.  
But what if an applicant cannot find someone to agree to become a cosigner? The task of securing student loan approval with bad credit is then made quite difficult. But there are still options available.
Private Lenders
The second alternative is to go to private lenders. These relate not only to traditional lending institutions, like banks, but also the growing array of online lending firms that can be found.
Generally, student loan approval is easier with online lenders, and the interest rates are lower. But repayments have to be made immediately - there is no delay until after graduation.



Difficulties in Finding Cosigner
First of all, the reason why cosigners are so valuable is the level of security that they offer to a student loan with poor credit. It is almost like having collateral, since the lender is assured they will get their money back. However, there are conditions to the position too, so finding the right person to be one can be a difficult task in itself.

Student Loans 

Finding someone who is willing to commit to making repayments is not easy. Most people go to their family, but if family members also have low credit scores, or are close to the limit of their debt-to-income ratio, this avenue is closed.
Government Loans
There are only two alternative options open to applicants looking for student loans with poor credit, the first being a government loan. The terms on these loans are more flexible, and more affordable than on a private option.
Government sponsored loans are available with no credit checks, but are generally limited in the number available. So, applications need to be submitted early if applicants are to have a high chance of student loan approval. They are also subject to strict qualification criteria since they are only available to those students in real need of financial aid.Article Source: http://EzineArticles.com/6849204Student Loans 

2012年7月18日 星期三

Student Loan Calculators


When you are applying for a student loan on the Internet, you may be curious to know just what your liability will be once you have graduated from college. A student loan calculator, which may be available on the same website, can let you calculate what your monthly and yearly payments would amount to and other helpful figures such as total interest.
Student Loan Calculators: What Are They?
Student loan calculators are software programs that are designed to calculate the monthly payments that you would have to pay after graduation on the student loan you are considering applying for. 
A student loan calculator uses the details of the loan agreement you are considering to make formulas that the software can read and calculate. In this way, student loan calculators are able to determine exactly how much you would have to pay each month. In most cases you have to begin payment on student loans six months after having graduated from college.
Student Loan Calculators: Why Beneficial?
Know how credit card reduction services can impact your credit score [http://www.debtsmackdown.com/little-known-secrets-about-your-credit-score.php]? There are some things you need to know before using these services. Get the inside scoop on what you need to know on the Debt Smackdown website at [http://www.debtsmackdown.com]
Article Source: http://EzineArticles.com/1682578Student Loan Calculators 

2012年7月17日 星期二

Student Loans -The Devastating Impact of Student Loans and Debt Collection


Student Loans
Add into the mix the increasing cost of college and the plummeting funding provided by states for public higher education, and the result is akin to the housing bubble. Graduates are increasingly "underwater," owing more in monthly student loan payments than they can reasonably hope to repay. 
For those who are facing the prospect of comparing costs and financial aid packages, the process is confusing at best and misleading at worst. Colleges and universities often present "financial aid packages" that include an assumption that the prospective student will take on tens of thousands of dollars of student loans. While it may appear as though the student is getting a free or low-cost education, he or she could take on enormous debt. This is particularly true if it takes the student more than four years to graduate - a phenomenon that's on the upswing as universities are slashing staff and class sections, meaning that students are unable to register for classes required for their majors.
The Consumer Financial Protection Bureau, created by the Dodd-Frank Act, is working toward developing a standardized form that institutions can use to inform prospective students of the costs and loan burden associated with their financial aid packages. The CFPB is soliciting input for such a form, and also has a beta version of a cost comparison worksheet where you can enter the names of schools and universities and obtain a side-by-side comparison of the "sticker price" of a school, the average amount of grants and scholarships, and the estimated student loan amount and debt after school.Article Source: http://EzineArticles.com/7064197Student Loans

Student Loans: Different Collections Rules


Student Loans
Most people who are looking for a way into into colleges and universities are not thinking about all the difficulties or possible causes for this type of loan to be a hardship. Student loan debt is something that will never go away on its own. Only in rare circumstances will a student loan be forgiven, even bankruptcy will not bring relief to this debt.
The creditor will usually make attempts to collect on unpaid loans for a few months and then use an outside collections agency to continue the process. Some companies will have their own inside collections departments who will try for a longer period of time before it processes out to a third party. The Department of Education does not always use third party collections, but when they do, the outsourced party earns more money per dollar collected from these loans and have been known to be more assertive with their collection attempts.Student Loans
Why are student loans so different?For starters, the funding behind your loan is from the government. These loans are not affiliated with any bank and therefore are not subject to the same collections rules. There are similar ways in which each can go about collecting the money owed, but the Department of Education, which funds these loans, have an unlimited amount of time to collect.
Regular bank loans and credit card debt have a statute of limitations. Depending on the state you live, these creditors will have a certain amount of time to try to get their money back. This time period is usually 7 years, but some states differ. Once the time limit is up, there can be no more attempts to collect the money. Student loans do not have a statute of limitations. In other words, the Department of Education can continue to attempt to collect on your loan until it is paid off.Article Source: http://EzineArticles.com/7108911Student Loans

Colleges and Student Loan Payback

For these graduates the American dream has disappeared. In fact, the students who will most likely start a professional career after college are often only those who graduate from one of a dozen to two dozen top-tier American and foreign universities. These few top-tier schools select only those students from the very top of their high schools. Corporate recruiters have little time to waste on college graduates who attended second-tier universities and have trouble reading and writing grammatically correct sentences
(Note: I refer to top-tier as only one to two dozen colleges across the nation. These are Ivies and several select colleges such as MIT and Johns Hopkins. Second tier colleges are all the rest, well over 99% of all colleges.)
Many Graduates Are Losing Control of Their Lives
When the graduates from these American universities discover that they cannot get jobs, they also discover that they cannot pay back their student loans. The thousands, or in many cases hundreds of thousands of dollars they borrowed now keeps them from starting their careers. The graduate realizes that he or she cannot even begin to raise a family as the financial responsibility with the required payback of student loans is overwhelming.
In fact, a new ingredient of the dating selection process is financial stability. Many young people are wary of marrying a recent college graduate who has hundreds of thousands of dollars in student loans to pay back. You owe how much money? You're not for me!
The sad stories of graduates from American universities play out constantly throughout America. And many students who feel they have no alternative sometimes seek suicide as their way out of the college mess. (note: I continually counsel graduates in this situation that suicide is never an alternative. I will discuss options in other papers).
Others have embraced an old profession that can help them pay back their staggering student loan debt and allow them to survive. This new alternative is an old business: Prostitution
Forcing Graduates to Prostitution and Suicide Is Unacceptable
On December 22, 2011 Amanda F. Fairbanks published an article in the Huffington Post that details the plight of college age women who have resorted to sex to pay tuition or help meet their staggering student loan payments. She reports that current college students and recent college graduates are selling themselves to pay for their degrees or pay down their loans. Website "escort services" pass themselves off as an alternative to women or gays who are looking for work and are in desperate need of financial aid.
Our Politicians Make Sure That Graduates Cannot Discharge Their Student Loans In Bankruptcy
Bankruptcy is not an alternative. Our politicians have deemed that students cannot declare bankruptcy from student loans. You see, getting elected is very expensive. Because politicians need money from Political Action Committees (PACs) they become predisposed to pass favorable legislation for those who help fund their political reelection efforts. These donors include consumer lending institutions such as Sallie Mae and others.
So What's Your Point Professor Roberts?
Our elected officials must change the antiquated laws that serve the financial industry. We must allow our students and graduates to escape their mental "debtor's prisons." We must allow these poor souls to declare bankruptcy and restart their lives.


Article Source: http://EzineArticles.com/6843157

Refinancing Student Loans With Bad Credit: The Surest Way to Ease Student Debts


There are three common misconceptions about students. First, is the idea they like to skip classes and scrounge around without a care in the world. The second is that funding avenues are rarely open to students with bad credit. And the third is that, for those who have managed to secure funding, refinancing student loans with bad credit is an impossibility.How Refinancing WorksFinding a lender adept at refinancing student loans with bad credit is not a particularly difficult thing to do. However, it does depend on the type of loan that the student has taken out. If the loan is from a private lender, then it may be possible to negotiate a new repayment schedule.The mechanics involved in refinancing loans for students with bad credit is essentially a buyout. The existing loan is paid off in full, which should mean that the new loan is smaller. For example, a $50,000 loan may have $10,000 paid off it after 2 years. The refinancing loan will buy out the remaining $40,000, marking the original loan as paid in full.Advantages of RefinancingThere is only one reason why a student or even recent graduate might turn to refinancing student loans with bad credit - namely, to ease the financial burden that they face.Article Source: http://EzineArticles.com/6866457Refinancing Student Loans

2012年7月13日 星期五

Student Loans for International Students


Student Loans for International Students

• That one is not a citizen of the country providing the student loans for international students. If the providers are based in the U.S, for instance, an aspiring loan applicant has to prove that he or she does not have a USA citizenship.
• That one is already enrolled in a college or University in the country that provides loans for overseas students. For example, a loan applicant who is already studying at a USA-based university has to prove this to a loan provider. If one is accepted in a school but has not yet joined, he or she can use a student visa to process the loan application.
• That a borrower has a reliable and creditworthy con-signer who is either a citizen of the USA by birth or a non-citizen who has acquired a permanent residence. This rule is upheld in other developed countries as well such as Australia, the UK and Canada among others.

Student Loans 


The cost of educating children in best schools located in developed countries is very high currently. It is therefore difficult to complete a course without using student loans for international students.
These loans can be used together with international student scholarships provided by local governments and other financial institutions. While borrowing may seem difficult at first, it can help a student build a good credit-rating that would help him or her in future loan applications or student loan consolidations.
Fulfilling the conditions that makes a student eligible to receive a loan is okay but not sufficient. There are a few other things that an applicant has to know and do. Two things are described below.
Searching for Student Loans for International Students
Even if a borrower is eligible to apply for a student loan he or she should find out the available loans. A simple comparison tool is all an international student requires to do this. It is able to match a borrower with the best lenders in relation to his or her needs. This tool can be used to locate lenders in a good number of developed countries that provide financial aid to overseas students. The size of the loan that a scholar can apply for is determined by the financial aids office of the university that he or she is enrolled with. An endorsement is required from the office if a student wants to borrow funds for the entire course. The office must first verify the creditworthiness of the con-signer and the borrower. One thing to note is that student loans for international students are only provided to an applicant who produces a con-signer. The con-signer must have a good credit score to be approved.Article Source: http://EzineArticles.com/6997090 

Student Loans 

2012年7月12日 星期四

Student Loan For Teachers


Student Loan 
A teacher may apply for all the four programs if the balance of their unpaid federal student loans exceeds the forgiveness amount and if they meet the requirements. Moreover, Private loans are not eligible. For the teacher who fall under the Funding for 2011-2912 serving period this is an important notice, the State had a budget shortfall presented an extraordinary task for the 82 Texas Legislature, this resulted into the removal of the funding for many programs and other significance removal, the Teachers Education Loan Repayment Program, which is funded at approximately $ 11.5 million for the 2010-2011 biannual, this was funded at $ 1 million for the 2012-2013 biannual which represent 9% decrease in funding and only renewed applications will be allowed for the next remaining two years and enough funding will be provided to help in repaying to all the legible teachers submitting the renewal for applications.
 One must have been employed as a full-time teacher for five complete, consecutive academic years at a qualifying location (effective for teacher loan forgiveness applications received on or after August 14, 2008) or a low-income eligible school. An eligible school is considered "low-income" according to certain criteria for funding under Title I of the Elementary and Secondary Education Act and is listed in the Annual Directory of Designated Low-Income Schools for Teacher Cancellation Benefits. At least 30 percent of an eligible school's enrolled students must qualify for services provided under Title. If the school where you performed your teaching service meets the criteria of an eligible school for any year of your employment, that year and all subsequent years of service at that school continue to qualify you for forgiveness - even if the school is no longer eligible. However, if the school where you performed your teaching service meets the eligibility criteria of an eligible school after you have started your service, you

Student Loan 
In addition, the information concerning the process and the priority of acceptance application for the renewals are to be posted on the website page of the Students Loan forgiveness for teachers.

Student Loan 
The requirements for one to be legible for this loan include;  · One must not have had any outstanding balance on a Federal Family Education Loan Program (F.F.E.L.P) or Federal Direct Loan Program (F.D.L.P) loan as of October 1, 1998, or on the date, you obtained a F.F.E.L.P or F.D.L.P loan after October 1, 1998.Article Source: http://EzineArticles.com/6872927 

2012年7月11日 星期三

Federal Student Loan Guide


1. Stafford Loans                       Federal Student Loan Guide

Eligibility Requirements
Be sure your federal student loans are really really bad before you consider student loan forgiveness programs. They won't wave a magic wand and you can walk away scott-free. No, you have to work for these babies. And often, they will not pay the entire loan off, just part of it. Here are the eligibility requirements.
You are eligible if you are doing a lengthy spot of volunteer work from only these three volunteer groups:
Peace Corps
AmeriCorps
Volunteers In Service To America (VISTA)
You are also eligible for federal student loan forgiveness programs if you are in the military, including the National Guard. You are also eligible if you are a teacher in certain low-income areas (including the entire state of Mississippi). You must contact the American Federation of Teachers for the most recent eligibility list. It's easier to just bite the bullet and pay the loans back, isn't it?
Unusual Areas Of Forgiveness
For some reason only Fortuna knows, attending certain schools or getting certain loans can make you eligible for forgiveness programs. Since these programs change, you need to always check these out before committing to anything. If you attended Baker University's Colleges of Arts And Sciences in Kansas, you're probably eligible. No reason.
If you studies law enforcement, penology, parole and probation or law in Alaska under the benefit of the Michael Murphy Loan, you are also eligible ... both of you. (That was a joke.)
If you word for the state of Maryland and make less than $40,000 before taxes per year, then you are also eligible.
Article Source: http://EzineArticles.com/979240  Federal Student Loan Guide

2012年7月10日 星期二

Tips for Sallie Mae Student Loan Repayment

Student Loan
The best thing you can do is create an account online with Sallie Mae so that you may view all your information online at your convenience. 
To help you out Sallie Mae has acquired UPromise. UPromise allows you to receive cash back for purchases you'd make every day any way. Then you can apply the funds in your UPromise account to your Sallie Mae loans. Say mom & dad eat out at Olive Garden with friends every Friday night. If Olive Garden is one of the many companies associated with UPromise & your parents spend $100 each Friday you could theoretically have $2 every Friday put in your UPromise account. Not much after 1 week, but it looks pretty good after a year, since it'd be $104. Then Sallie Mae will allow you to put that towards your student  Student Loan
People search high & low for ways to pay for college. At the end of the day the most common way to pay for college is via student loans. There are literally hundreds upon hundreds of student loan companies out there. Added to that is the thousands upon thousands of banks willing to offer student loans at much higher interest rates.Student Loan
At the end of the day the best advice to give any one is to make sure they have a plan when dealing with their student loans. When you have a student loan any where interest accumulates over time. They give you the opportunity to pay the interest that has accumulated each month. It can be anywhere from $20 to $250 depending on how big your loan is & if you've been paying the interest each month. Here is where preparation comes in. Find a way to get a job at the college quickly. This way once the interest starts piling up you are able to "throw money" at it. If the interest each month is $20 pay them $40 or $50. This will not only eliminate extra interest accumulating quickly, but it will also allow you to pay off the loan quicker.Article Source: http://EzineArticles.com/5829425 Student Loan

2012年7月9日 星期一

Student Loans for Bad Credit Borrowers Help Make College an Affordable Option


Many people have been adversely affected by economic factors, creating a situation where their credit score is not actually a fair reflection of this credit history.
How They Work
Student loans are different to regular loans for the simple reason that they are an investment in the future of the borrower, not in their present. For this reason, student loans for poor credit borrowers are plausible. Student Loans
Where To Go
The most important thing is where the applicant goes for their loan. Student loans for bad credit borrowers are available from both private and public sources, with government guaranteed loans the best of the selection on offer.
There are two chief forms of public loans available: the Stafford program and the Perkins program. The chief difference between the two is that the Perkins loan program is reserved for those applicants who are in great financial need so, with this loan, approval for students with bad credit is almost certain.Student Loans
The Private Option
Of course, not everyone will qualify for these forms of financial aid, with both the Perkins and Stafford programs having limited fundsArticle Source: http://EzineArticles.com/6883046  Student Loans

Tips for Overcoming Student Loan Debt


 Tips1 -Student Loan Statistics
Up to 60 percent of undergraduates take out student loans to help finance their education, and they have an average debt of $23,000. The numbers of borrowers and the average amount borrowed increases with graduate degrees.
 Tips2-Choose a Repayment Plan that Works for You                                                     Tips  Student Loan 
1. Standard Repayment Plan - This plan is usually the first one offered by the lender. The terms of this plan include making regular, fixed payments for 10 years.
2. Graduated Repayment Plan - This plan allows the borrower to make lower payments to begin with, and then increases the amounts of the payments.
3. Extended Repayment Plan - This extended plan stretches out the payments for up to 30 years.
4. Income-Contingent Repayment Plan - This plan adjusts the amount of the payments to make them manageable for your income level.
Tips3-Investigate Loan Forgiveness Programs                                                                                       Tips  Student Loan 
If you aren't eligible for a student loan forgiveness program, volunteering may reduce your student loan debt. For example, participating in some volunteer programs, such as the Peace Corps or AmeriCorps, can cut thousands of dollars off your student loan debt when you agree to volunteer for a specific time period. These programs aren't for everyone because most of them represent a significant time commitment that will probably prevent you from working a regular job. However, if this volunteer experience will improve your job skills or your chances of finding employment, you may benefit from the experience as well as the loan forgiveness.
Tips4-Pay as Much as Possible
When you may more than the minimum amount on the loan, the amount that you pay over the minimum is directly applied to the principle. If you do this each month, you will reduce your principle much more quickly than you would if you only made the minimum payments.Article Source: http://EzineArticles.com/6982159   Tips  Student Loan 

8 Tips to Student Loan Repayment


Tip #1: Read Your Mail 
Typically, student borrowers get tons of information concerning the student loan. The student receives mail, normally, immediately prior to, throughout and following graduation from college. Consequently, it is crucial that you read through the entire stack of mail carefully. Therefore, if you have concerns, or there is information you do not understand; by knowing what is going on now you can get the problem resolved right away. Remember, it is necessary to ask if things are not clear, don't ignore the mail or you might miss out on a critical deadline or important information you need to act on concerning the loan
Tip #2: You Do the Leg Work 
All loans are not equally created. Some loans offer repayment incentives while you are still attending college; this bonus in some cases can be extended even after you have graduated. On the other hand, there are loans that provide no such stipend and the loans are due shortly after you have graduated college. For example, the Federal Family Education Loan Program (FFELP) loan charges a 3% loan origination fee; one stimulus is the proposal to pay this fee for students. The student in-turn has more money to off-set the cost for books, school supplies and living expenses.
Tip #3: Be Present at all Required Entrance and Exit Sessions 
When you take out a student loan, you will have to complete the student loan counseling sessions. Some schools give this on-line and the sessions will not require a considerable amount of your time. They will give you a significant amount of information concerning your rights as well as your obligations as a student borrower.  Tips  Student Loan 
Tip #4: Organize that Mountain of Paperwork
Save all of your student loan paperwork and correspondences, as soon as you get it in the mail in the mail. That way, you are going to know exactly what you agreed to, what is expected from you at loan repayment, and also to remind you how much you have borrowed, which is extremely important. It is interesting how signing the promissory note for your loan is so exciting, repaying the loan seems far away, but only for a while. Four years of college pass by quicker than you think. Before you know it, you are graduating, and the student loan repayment is glaring you in the face. Tips  Student Loan 

Tip #5: Budget Finances Like a Pro
The adage when you live to impress when you are in school, you might live like a pauper when you have completed your degree. Quite simply, it is essential that you learn the best way to manage your hard earned money when you are going to school. Frugality can help you reduce the amount of the loan you apply for; as well as reduce the total amount you are going to be responsible for paying back. Here are a few sensible techniques worth taking into consideration:
* Prepare realistic budgets while you are going to school and even after you graduate. This will probably enable you to borrow only what you need, providing you an excellent opportunity to pay back the loans. * Learn how to live as inexpensively as possible. Bear in mind you are only a college student. You can enjoy a much more trouble-free life if you graduate with little to no financial debt. Many excellent tips on how to be cash conscious include finding a roommate, renting a video rather than going to the theater, and taking your lunch from home rather than going out to restaurants.
Tip #6: Retain at least Half-Time Enrollment
If you are thinking about half-time enrollment, it is essential to ensure that you are eligible for an in-school deferment. The part-time enrollment usually takes six credit hours. Check with you educational institution requirements concerning the prerequisites for half-time standing.

Tip #7: Show Me the Money
* Submit the loan payment as soon as it is due each month for the full payment amount or even more. This should be done no matter whether you receive a monthly bill or not. *Understand the pay off alternatives offered by your student loan lenders. One option allow you to decrease the loan by making larger monthly payments, and other option allow you reduce your initial monthly bills by making it easier to repay the loan early in your career.
Tip #8: Make the most of Tax Cost savings 
A number of college students who take out student education loans qualify for tax breaks. To determine your status, seek advice from your tax consultant. The breaks are now determined by your qualified college tuition repayments, and in addition, they will help decrease how much Federal tax you have to pay. If you are paying interest on a student loan, it is possible to receive a deduction on your individual Federal tax return for all interest payments. 
Article Source: http://EzineArticles.com/3871633   
  Tips  Student Loan 

2012年7月8日 星期日

Who Can Benefit From the Student Loan


I don't believe this has much of a chance of being passed, and seems to me like a congressman fluffing up his resume for elections. For individuals, this would be great as I'm all for taking advantage of the government's misjudgment. Economically, I don't feel this is a step in the right direction. In the last 50 years or so there has been a HUGE boom in people going to college. For us young adults, we have been told all our lives that college was the key to success. This may have been true back in the day when a college graduate was a rarity. Now that basically everyone is graduating college (due to the mindset that you NEED a degree,) a college degree is becoming more and more meaningless.
Student loan forgiveness, sounds great and all but what does it mean for us?
  • Reduced payments for those experiencing economic hardship - Basically, the Student Loan Forgiveness Act means that for those struggling in today's economy, you can potentially have your federal student loan payment reduced to 10% of your monthly income and provide forgiveness after 10 years of payment (referred to as the 10/10 plan). 

  • Reduced interest rates for new borrowers - H.R. 4170 will make new federal loans more affordable to prospective students. The bill would set the interest rate cap on federal loans to 3.4 percent, which is half of the current rate at 6.8. In my opinion, for those who want to go to school but have no way of affording it, this would be great. For the country as a whole, not so much. 

  • Cuts the payments public service employees need to make - Those working in public service would have their required payments cut in half (from 120 to 60) that they need to make before their debt is forgiven.

  • Converts private loans to Federal loans - Lastly, HR4170 (if passed) will allow borrowers to consolidate their private loans into a federal loan. Article Source: http://EzineArticles.com/7106644   Student Loan 

2012年7月7日 星期六

Mastering College Finance: Private Student Loan Tips for Students and Parents


This is where student loans come into play. For many students and parents, the first stop is federal financial aid, scholarships, and grants. But often these do not cover the full cost of attendance, which includes not just tuition, but boarding, meals, school supplies, and other out-of-pocket expenses.
Private loans are more lenient in their requirements than federal loans. Usually, all you'll need is a letter of acceptance from a college or university or an unofficial transcript. Conversely, with the required Federal Application for Federal Student Aid as part of the federal loan process, you'll need to supply a lot of additional information about yourself and your family. if your cosigner has stellar credit, this may mean a better interest rate for you. (Cosigners come into play often in a young persons life. For example, you want that awesome apartment in Manhattan that requires proof of an income you don't yet have even though your job allows you to pay the rent? Your parents can cosign if they meet the income requirement.)Federal loans always have a deferment period of up to 36 months, or three years. If they are subsidized, they pay the interest accrued during the deferment period; if they are unsubsidized, you will be responsible for that interest. But the reality is the same for both federal and private loans: all loans must be repaid, regardless of the way, shape, or form.The decision you make today with your private student loans are just as important as the decisions you made when choosing your school and major. Loan repayment may take decades, so you want to be sure you are with a lender you trust and that you feel is accessible and understanding of your needs. If you are prepared, then you shouldn't have to encounter any surprises. Don't let the excitement of undergraduate or graduate school cause you to overlook these very important realities. Going to college often marks the beginning of adulthood, and there are very real adult decisions to be made starting from the very beginning.Article Source: http://EzineArticles.com/7038355

2012年7月6日 星期五

Student Loan 3 The Advantages


 Student Loans  3  The Advantages 
Advantage #1 - You will save time and money. No fees, simple paperwork process. No refinancing decisions based on your credit rating. The new program is reportedly available only from Jan. 2012 through June 2012 will also be offering a slight deduction for selecting the automatic debit option in repaying your loan. 
Advantage #2 - You may improve your credit score by avoiding default. These types of loans cannot currently be discharged for dismissed (except for loan forgiveness programs); not bankruptcy, not by hope and prayer. Not by ignoring the threatening collection agent letters. These loans must be repaid! So by consolidating, getting a smaller monthly loan payment, and sticking to a repayment schedule consistently, over time you will pay off your debt. Federal student loan consolidation then gives you a path to resolving your financial problems related to college debt. Student Loans
Advantage #3 - You will avoid frustration by only having one bill to pay each month. Having to keep track of 2 or 3 different bills each and every month can seem daunting; so, by consolidating into a new federal loan consolidation program, you will not only lower your monthly bills.College was worth the price of admission. Your college degree opens many new doors to career advancement now and in the future. But now, repayment of those college loans looms large. And the new federal student loan consolidation program available for only six months by the U.S. Department of Education (Jan. 2012 - June 2012), could be the winning ticket to taking advantage of direct loan consolidation.Student Loans
 Some consolidation programs make you ineligible to get your loans forgiven if you later enter a qualifying career. Some federal loan consolidation programs exempt certain types of loans, and loans that were taken out at an earlier time period. Oftentimes, old loans carry a lower interest rate, so consolidating those at a higher level of interest makes no sense. Article Source: http://EzineArticles.com/6653762   Student Loans  3  The Advantages 

2012年7月5日 星期四

How to Postpone Paying Off Student Loans


The companies who offer student loans realize that everyone needs a little help sometimes. If you have just lost your job and you're trying to decide which bill to pay, then student loans are probably going to lose. 
Asking for a Deferment
In these cases, you can contact the student loan provider and tell them of your unemployment. They may give you a six-month deferment so you can get back on your feet. 
Qualifying for a Forbearance
If this is the case and you have fallen behind on your payments, simply be honest with the student loan provider. It's up to them, but they can sometimes give you a forbearance depending on the situation.
This terms means that any late or missing payments up to that point are brought current. It keeps your credit score current and won't have any negative affect on your credit report. TTalk to your student loan provider about these options and work out a prolonged payment plan. Your interest payments will increase, but it will give you some immediate financial relief. Article Source: http://EzineArticles.com/7104373    Student Loans

Things you must know before applying for a student loan


There are many kinds of student loans with varying rates of interest, conditions and repayment schedules we'll have a look at a few of these below.
There are two major sources for student loans, the Federal Government and private lending institutions. A Federal loan is the cheapest way to fund your college degree but these loans generally only provide enough to pay for your basic college expenses. There are a few different types of Government loans and the school where you are attending should be able to help you find a loan that suits you. 
1.Make sure you are aware of all of these details before signing up for a loan.
2. You need to be confident that you can make the repayments if and when they are due. While Government loans generally make things easier for students they only provide for the bare necessities; that's why many students turn to private lending institutions for addition funds. 
3.Private institutions, such as banks and other lending companies do not give charity, they are out for a profit. This means before giving a loan they will check your credit score and most likely will require a co-signer to verify that the loan will be repaid. 
4.Interest rates will vary depending on your credit score and the credit rating of your co-signer. If you have no-one to act as a co-signer it may be very difficult to get a loan. If you do bear in mind that the interest rates will be much higher to take into account the perceived additional risk.
5.Before applying for a student loan make sure you look at reviews from other students to see if they have any bad dealings with the company. You can also look up the company at the Better Business Bureau to see if they have any information.
6. Lastly, don't forget to consult with your school as they should have a wealth of information about finding the best student loans for your situation.Article Source: http://EzineArticles.com/7100293 student loans

5 Tips for Refinancing Private Student Loans

Student Loans
 If you don't do your homework on your new loan, it could end up negatively impacting your financial life. Keep these five tips in mind to ensure you get the best possible deal.
1. Understand What Loans You Can Refinance
. Even private lenders can have stipulations concerning refinancing, frequently requiring a minimum balance and that you have no loans with an "in-school" status. Do some research about which lenders can work with the loans you have before attempting to refinance your loans.
2. Know Why And How Your Payment Is Changing
 If you're struggling financially and cannot afford to make your monthly repayments, it may be worthwhile to pay more in the long run to secure lower payments now. Otherwise, it's in your best interest to make higher payments now with a shorter repayment term to save money over the life of the loan. The best deals will offer a lower interest rate on your loans to lower your payments as opposed to a longer repayment term. Not only will your payments shrink, you'll pay less money to the lender in the end. 
3. Read The Fine Print
It's great to refinance your loan to get a lower monthly payment, but your savings may be lost to fees if you don't know the specifics of your new loan. Make sure you understand all the terms of your contract before you refinance
4. Check Your Credit Score
Private lenders may be willing to offer you a lower interest rate if you have a good credit score. Your credit score reflects characteristics that signify a responsible borrower who is likely to repay their debt, like a history of making timely payments. 
5. Look For Incentives
Many private loan programs offer discounted interest rates for participating in special programs such as online billing an automatic debit.Article Source: http://EzineArticles.com/7149079
5 Tips for Refinancing Private Student Loans-5 Tips Student Loans