Student Loan

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Sallie Mae  Provider of federally guaranteed student loans originated under the Federal Family Education Loan Program. Sallie Mae offers comprehensive information and resources to assist students, parents, and guidance professionals with the financial aid process.

eStudentLoan.com  Offers comparisons of alternative student loans, scholarship search, financial aid information, and more.

The Student Loan Corporation  Student Loan Corporation provides aid to college and graduate students through Citibank. Products include scholarships, federal student grants, and Stafford loans.

Student Loans at CreditLoan.com  Provides finance articles on student loans, including direct and government loans, tips, and advice.

Iowa Student Loan Liquidity Corporation (ISLLC)  Provides access to lower-cost Federal Stafford, Federal PLUS, and private/alternative student loans for Iowa students.

Citibank: Citibank student loans, research payment options, and more at ...  From federal student loans to private student loans, Citi offers an array of financing ... timely information about student loans. Company Information ...

The Student Loan People  Kentucky Higher Education Student Loan Corporation, also known as The Student Loan People, is a non-profit, self-sustaining agency that makes, purchases, services, ...

Student Loans: Private Student Loans - College Student Loan at Chase ...  ... ChaseStudentLoans.com you can learn the facts about student loans and apply for ... View our Student Loan Fact Sheet and tons of other valuable resources from ...

Default: The Student Loan Documentary is a feature-length documentary chronicling the stories of borrowers from different backgrounds affected by the private student lending industry and their struggles to change the system.In 2005 private student loans were exempted of ALL consumer protections. No matter when their loans were taken, many borrowers now find themselves in a paralyzing predicament of repaying two, three or multiple times the original amount borrowed, with no bankruptcy protection, no cap on fees and penalties and no recourse to the law. The consequences are dire, with stories of borrowers in financial and emotional ruin.www.defaultmovie.comA film by Aurora Meneghello and Serge Bakalian

Astrive Student Loans  Offers private, direct-to-consumer, unsecured, credit-based student loans to cover educational costs.

Student Banking Overview from Bank of America  With Bank of America student banking services, you can ... Get a Student Loan. Loan Finder: Undergraduate. Graduate. Legal or Medical School. Federal loans: ...

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Finding the Best Private Student Loan

by: Dave Fitzgerald

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

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

Things You Should Know:

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

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

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

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

Things You Need To Consider:

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

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

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

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

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

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

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

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The Basics Of Student Loan Debt Consolidation

by: Gibran Selman

You can combine several of your student or parent loans into a single student loan debt consolidation. You can consolidate your federal student loans too, but make sure that you do not consolidate both your federal student loans and private student loans into a single student loan debt consolidation program. Just as other debt consolidation loans, you must make your student loan debt consolidation payments to a single lender, who further disburses to your old creditors.

To go for debt consolidation of your student loans, your minimum balance should be $5,000, and you must either be in the six month grace period after your studies, or are already repaying your student loan.

Before selecting your student loan debt consolidation option, review all the advantages and the disadvantages:

• Through debt consolidation you make your student loan payments to a single lender.

• Depending on the balance of your loan amount, your consolidated student loan has an extended repayment term from 10 to 30 years.

• When negotiating with your bank or financial institutions, ensure that your phased repayment plan allows you to easily meet your monthly payments and have a good credit rating, at the same time.

• The rate of interest for student loan debt consolidation is capped at 8.25 percent for federal student loans.

• Once the rate is fixed you cannot take advantage if the interest rates fall in future.

• There are no fees charged for student loan debt consolidation.

• Once approved, you cannot undo your debt consolidation of your student loans as they have already repaid in full to your previous creditors, and they no longer exist.

You can still obtain debt consolidation for your over due, or unfulfilled, student loans if you negotiate a satisfactory repayment plan with your bank, or debt consolidation lender. Married couples, too, can consolidate their individual student loans together. This is regardless of how much each owns before consolidation, and must now agree to pay the consolidated amount.

About The Author
Gibran Selman takes care of http://debtconsolidationcenter.net/ a website dedicated to gather information, on and off the internet, about debt consolidation and other related subjects. For more articles on Debt Consolidation please go to: http://debtconsolidationcenter.net/

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Student Loan Advice And Information

by: Brad Stroh

Student Loans For many students, the dream of getting a higher education just isn’t possible without the financial aid of a student loan. Fortunately, there are many opportunities out there to apply for and receive a student loan. And even better, http://bills.com/ is here to give you all the knowledge you need to choose the best student loan for you.

Student loans generally come from two sources: the federal government and private financial institutions, such as banks. Both require repayment of the loan, but that’s where the similarities end. Let’s take a look at both federal and private student loans.

Federal student loans are sponsored by the government and account for the biggest chunk of education loans. There are three main federal loan programs: The Perkins Loan, The Stafford Loan, and The Parent Loan For Undergraduate Students, also known as PLUS.

The Perkins Loan is the most affordable student loan, with an interest rate of 5% and low fees. But it’s also the hardest to get because it’s only given to those who need it the most. And the loan limit, at $4000, is the lowest of all three federal student loans.

The Stafford Loan comes with a variable interest rate that’s higher than the Perkins, but lower than the PLUS Loan, due to the cap at 8.25%. As with the Perkins Loan, this student loan does not hold credit worthiness against the applicant. The Stafford Loan also has a much higher loan limit and is offered to both graduate and undergraduate students.

Compared to the Perkins and Stafford Student Loans, which are borrowed in the student’s name, the PLUS Loan is completely different in that it is a loan for parents of dependent undergraduate students. A big advantage of this type of student loan is that it covers any remaining balance not covered by other forms of aid – in essence the loan limit covers your entire educational expense.

Now that we’ve familiarized ourselves with the different types of federal student loans, let’s identify the attributes of a private student loan. This is a loan from a financial institution that takes into account your creditworthiness, not your need for aid. Your credit is reviewed by lenders and if approved, you can get a substantial size student loan in minutes, sometimes up to $30,000. A downside to private student loans is that repayment terms typically cap at 15 years, compared to 30 years for a federal loan. Also, if you become disabled or deceased, your heirs are required to payoff your student loan, whereas in a federal loan, the loan is forgiven, making repayment unnecessary.

As you can see, you have several choices when it comes to student loans. Making sure you choose the best option is a matter of getting informed on these choices, and picking to student loan that best fits your needs.

About The Author
Brad Stroh is currently co-CEO of Freedom Financial Network and http://www.bills.com/. If you would like more of Brad’s http://www.Bills.com/sitemap/, please visit the Bills.com information on http://www.Bills.com/studentloans/.

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How To Handle Student Loans Appropriatly

by: Michael VanWormer

From The Desk Of: Michael VanWormer - Internet Research/Webmaster Homebizshowroom.com

Dear Student,

It is often said that the most effective debt management strategy is to be debt-free. But, in order to pay for your college education, you may need to take out student loans.

Student loans are applied by many people these days. It is for the hope that student loans can greatly support their education. Well, that is primarily the purpose of student loans, but there are some instances that getting student loans is what lead people to be buried deep in debt. This is common among those who failed to repay their debts or those who actually escape from their obligations.

Now, planning for successful repayment involves a lot of considerations. The planning should start before you place and strike your pen on your first promissory note. Just as you are making a commitment to your career by way of investing time and money in higher education, you should also make a commitment to your financial future by way of effectively managing your student loans from the beginning.

Here are the most recommended tips and tactics that may help you handle your student loan debt effectively and repay the loans successfully.

Tip #1: Do Your Own Research

Always note that not all loans are the same. Some of them, such as the ones provided by the Indiana Secondary Market for instance, offer benefits during school as well as after graduation in the form of repayment incentives, while other do not. They will pay the 3 percent origination fee normally charged on Federal Family Education Loan Program (FFELP) loans, and this process actually means more money for the books, school supplies and living expenses. And, after you graduated, there is a chance that you will be qualified for reduced interest rates especially when you ready your payments up on automatic withdraw. So, with the differences in student loans, it is necessary that you do your research before signing the first promissory note.

Tip #2: Pay Attention to the Mail

Typically, every borrower receives important information regarding the student loan he or she took out. The mail usually comes in before, during and after school. So, it is somehow important that you read all of the materials you receive carefully. In case, you have questions, the source of the materials is available to welcome you with your questions. Don’t hesitate to ask, and never ignore the correspondence or you may miss out a very vital deadlines or details about your loans.

Tip #3: Be Organized

When taking out student loan from a particular institution, it is always best to save all of your student loan documents and correspondences. This makes you aware of what exactly you’ve agreed, what is expected from you as a student loan borrower, and how much you have borrowed. At the start of the student loan process, you may find it unnecessary to keep all the documents, but when the repayment period is approaching, there is a great possibility that you may refer to some or all of these documents.

To makes things easier for you, begin by setting up an easy to use record-keeping system where you can store your student loan documents and correspondence. As you may know, there are a number of books and software products on personal finance to help you get started. Whatever you may use, whether file folders, binders, portfolios, or envelopes, it is a good idea that you set up one folder for every type of loan or account you have and keep the items sorted accordingly.

Here is what you should keep:

·Important documents like your student loan applications, promissory notes, disbursement and disclosure statements, as well as loan transfer notices.

· Copies of all correspondences between you and your student loan lender, loan holder, and/or servicer, including your school’s financial aid office.

· Addresses and telephone numbers of your lender, loan holder, and servicer. These must be maintained up-to-date.

· The name, the date and time of the conversation, as well as a summary of what you have discussed. These must be considered especially when you are speaking with anyone regarding your student loans as these may be valuable for future reference or clarification.

Also, when setting up your record-keeping system, be sure that it is comfortable to use. This means a system that you will find easy to maintain over the life of the loan. This record-keeping system must also be secured from theft or fire. Many experts also suggest that you should keep all your student loan related documents and correspondences until all the education loans you’ve taken have been fully repaid.

Tip #4: Be present at All Required Entrance and Exit Sessions

When you take out student loan, you will be required to complete student loan counseling sessions. This is often considered when you first obtain the loan and upon graduation. Also, it is worth noting that some schools these days offer this on-line and the sessions will not require a great amount of your time. However, they will provide you with a great deal of information on your right and responsibilities as a borrower.

Tip #5: Learn to Manage Money like an Expert

It has been said that if you live like a professional while you are in school, you will live like a student once you’ve finished your degree. In other words, it is important that you know very well how to handle your money while you are attending school. This will help you lessen the total amount you end up borrowing, and in turn, the amount you will responsible for repaying.

Here are some of the tactics that are worth considering:

· Develop realistic budgets for while you are attending school and even after you graduate. This will allow you to borrow not more than you need, giving you a great chance to repay your loans.

· Learn to live as cheaply as you can. Always remember that you are just a student. You will enjoy a more comfortable lifestyle once you’ve graduated especially if you lessen your borrowing while you are in school. Some of the most recommended ideas for how to be thrifty include getting a roommate, renting a movie instead of going out to the theater, as well as bringing your lunch from home instead of eating out. Be thrifty as possible.

· For any credit card bills you receive, try to pay the full amount due.

· Establish a budget for yourself and follow it. While you are in school, it is important that you know how to resist the urge of using credit cards or your student loan funds to purchase things that are included in your budget. Don’t just buy unnecessary things.

· If possible, explore work-study or other part-time employment. As often said, it may give you an opportunity for you to study or obtain valuable professional experience, other than help cover overheads.

Tip #6: Maintain at least Half-Time Enrollment

Considering a half-time enrollment is highly necessary in order for you to qualify for an in-school deferment. The half-time enrollment normally takes six credit hours. Regarding your school’s requirements for half-time status, see your financial aid officer.

Tip #7: Take Advantage of Tax Savings

Some of the student who takes out student loans qualifies for tax credits. To see your own status, check with your tax advisor. The credits are actually based on your qualified tuition payments, and they can help reduce the amount of Federal tax you pay. Now, if you are paying interest on a student loam, you may also be able to take a deduction on your Federal tax return for those interest payments. Therefore, to obtain the full benefit of the credits as well as the deductions, grab the opportunity of employing the additional tax refund to pay down your student loan debt, or perhaps to handle your educational overheads.

Tip #8: Repayment Tips

As you enter the repayment period, note that being aware of your student loan obligations is very crucial. This is where the student loan default usually happens. It occurs when you fail to pay back the loan as agreed or meet the other terms of your promissory note. The promissory note for each of the loans must then be referred prior to your graduation or before you leave school so that you know what your rights and responsibilities are in repayment.

Here is what you should do as you enter the repayment period:

· Send your education loan payments when due every month, for the full monthly payment amount or more. This must be done regardless of whether or not you receive a bill.

· Note and understand the repayment options provided by your student loan lenders. With some available options, there is a possibility that you can lessen the total cost of the loan by making a high monthly payment. Other options may even lessen your initial monthly payments and may make it easier for you to pay back your leans early in your career.

· Understand the deferment as well as forbearance. In case you need them, just learn to exercise your options.

· Remember that the loan consolidation and its repayment options have its pros and cons. So, understand them.

· Keep your school, lender or servicer informed of your whereabouts. Contact them immediately if you change your name or address; have questions about billing statements; have problems making your scheduled payment on time; or if you want information on or application for deferment or forbearance.

· Read, note and understand all the correspondence you receive from your student loan lender, loan holder, or servicer. And, respond them promptly if asked to do so.

For Further Information

If for instance you need further information regarding your student loans, always remember that the financial aid staff at your school is probably your most important resource. However, there are also some consult publications from federal and state governments, lenders and scholarship granting organizations, and financial ad guidebooks that are available from your local bookstore. They are great enough for you to start your own search.

About The Author
Hello, My Name is Michael VanWormer, 45 years of age and a webmaster of 3 years. Ever since my children started college, I felt compelled to help others with some information about student loans and how it to make it easier preparing the first time around. It takes some legwork, and added responsibility on your new student!

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How To Pay Of Your Student Loan Debt Quickly

Author: snook2

Many times, the accumulation of large debt is almost impossible to avoid. Such is the case with student loans Student loans are a concept created from a need by young people wanting to get a college education but without the available funds. The idea was that once a student graduated and became actively employed, he or she could then pay off the student loan. But student loans are just as burdensome as any other loan and in some cases students have several loans taken out in order to pay for college. This is where student loan debt consolidation comes in with a plan of consolidating all of an individual's student loans into one manageable loan to pay off. You need to get your facts before you apply for one of these consolidation loans. You need to determine obvious things like the interest rate and the term and come to an understanding of what this loan is not as well as what it is. Only certain types of loans can be consolidated under this type of loans and you will need to check but for the most part the loans that can be consolidated are those that were realized in the course of getting an education. This means you cannot include loans such as credit cards, loans from family members, or automobile loans in the student loan consolidation.

The obvious benefits to consolidating a student loan are that there will be a single payment, probably a lower payment, and one fixed interest rate. The fixed interest rate is especially attractive because this helps a person set up a budget easier. Of course the drawback to a fixed interest rate in this type of loan is that you may not be able to take advantage of future drops in interest rates if they occur.

Another drawback to student loan debt consolidation is the length of the term. It could be that you end up paying this loan longer than you would have otherwise and in the end pay more total interest. So be careful to get all of the data about your student loan debt consolidation loan before you sign the agreement.

Of course the student loan debt consolidation market is very competitive and there are all sorts of programs to choose from. Some of these programs offer very low interest rates. Check out the program you are dealing with and be especially certain that you find out if there are any add on fees for the loan. Student debt consolidation loans are guaranteed by the government so there should not be any fees. This is because the lenders get subsidies from the federal government for taking the risk on these types of loans. Also try to find out how the customer service is with the agency you are getting this type of consolidation loan from.

Finally, you need to determine if consolidation is really for you before doing it. It may be that you want to pay off the loan faster as student debt consolidation loans tend to stretch out longer. But for most it is an attractive way to get your payments down and manage your student loan debt.

About the Author

For more resources on managing your debt visit: http://www.debtconsolidatecenter.com/

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General Types of Student Loans

Author: askcybersteve

Education, beyond that offered by public school systems can be a bit expensive. As a result, most students might need some amount of external funding to further their higher education plans. Grants and scholarships may help cover a part of the expenses, but then that privilege is available only for a cream of students.

Not everybody qualifies for grants and scholarships. Student loans help to solve this incongruence by offering a level playing field for all the student classes. A variety of student loans exists both federal and private and for a prospective student, it is just about finding a scheme that best suits their requirements and expenses.

Student Loans, as mentioned already, are either federal or state funded, or those offered by private parties and non-profit private institutions. Starting with the former, the Federal Student Aid or FAFSA can be applied online, and the process is quite easy as well.

Another thing to consider is that the applicant must provide accurate and genuine information while filling out the application. Also, it is advisable to apply for Federal student aid as early as possible, after January 1st.

Another useful federal financial aid package is the Federal Parents Loan for Undergraduate Students or PLUS that considers the good credit ratings of the parents in exchange of financial help for their children.

These low interest loans cover everything from tuition fees and books to housing, library, and supplies. PLUS also can be applied online by filling out the necessary formalities.

Private student loans, on the other hand, are offered by private banks or other financial institutions, and do not have any federal government involvement in the entire process. This type of loans are issued for both undergraduate and graduate students and most avail them to cover the expenses that cannot be otherwise paid by federal aids.

But, unlike federal student loans, where the applicant can know before hand if they qualify for the loan, private student loans do not offer any prior hints and the final approval is solely based on the credit review of the applicant or applicants parents by the lender. If the credit rating of the applicant is not acceptable for the bank, they will reject the application then and there.

One more aspect about private student loans is that it is issued in a first come, first served basis, unlike the federal student loans that is given away on applicants needs. So, if you are planning to apply for a private student loan, start reasonably early.

The best place to look for private student loans is the web. There are many private banks out there offering student loan schemes, hence, it is advisable that a prospective applicant may perform some research and comparison game before choosing the one scheme that suits his her needs requirements fully.

Taking references from previous borrowers is also a good option. Finally, before submitting the application, make it a point to read the fine print thoroughly. This helps solve a lot of technical problems that could arise at a later stage.

When deciding upon a loan its important to understand the difference between types of interest rate repayments. There are two specific types of repayment options and its important to factor these into your final payment schedule.

Subsidized loans are loans which generally have some or all of the interest paid by someone other than the borrower. This type of loan is generally used whilst the student is still in school. Examples of this type of loan would include the Subsidized Stafford Loan and Perkins Loan.

Unsubsidized Loans are loans which accrue interest from the day that the loan is disbursed to the borrower (or their school). Although the loan may be completely deferred (Example: you dont make payments for a period of time) and you may not be currently making payments the interest will still be accruing on the loan amount. Examples of unsubsidized loans include the Unsubsidized Stafford Loan, Parent PLUS Loan, private alternative student loans, and student loan consolidations.

You will need to make the decision as to which repayment schedule you make at the disbursement point of the loan. I would always counsel that it is better to struggle and slowly pay off the loan interest rather than deferring all payments until graduation. Often graduates are forced into bankruptcy due to deferred student loans.

Ultimately, you have alot of research to complete before diving into the application stage. Do take your time and establish exactly what you are seeking as it makes it all the easier when dealing with the respective loan companies.

Hopefully your loan process will be as painless and easy as your studies shall be.

About the Author

Steve Rowland is the administrator and web master of http://www.studentdiscountloans.com and aims to make it significantly easier for intending students to access higher education. Steven is also the webmaster of http://www.askcybersteve.com a site providing guides and free articles.

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