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

Student Loans - What Parents And Students Need To Know

Student Loans

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

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 

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?

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Article Source: http://EzineArticles.com/1682578Student Loan Calculators 

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