How to Manage Multiple Student Loans

Nowadays, it is not uncommon for college students to apply for multiple student loans to finance their studies. With clear financial records and purpose, any student should be able to get the education loans they need. Problems with multiple student loans perhaps will arise as soon as the borrower (either students or their parents) have to repay what they have borrowed. Various amounts of loans with various interest rates as well as various repayment terms are not easy to manage and it is easy to get mixed up between them. Additionally, when a student comes across financial hardships following his/her graduation, repaying the loans can be a tremendous burden.

To solve these problems, you can apply for a student debt consolidation loan which combines all your borrowed funds. By consolidating your various loans, you will only have to pay to one lender each month. Besides, you will also get other benefits such as a fixed interest rate and longer repayment period. The rate is actually the weighted average of the interest rates of all the loans. Since the rate is rounded up to the nearest 1/8 of a percent, you might end up with a slightly lower or higher interest rate. The repayment term, on the other hand, ranges from 10 to 30 years depending on the total amount of the loan and other considerations that will save you up to 50% payment per month.

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

All students as well as parents with educational loans are welcome to apply for the loan consolidation. Nevertheless, students and parents from the same family cannot merge their loans together into one master loan so they must apply for it separately. The regulation states that only multiple student financial aids under the same borrower can be consolidated. The same regulation also applies to married students. Hence, their educational loans should also be consolidated separately. This regulation was active per 1 July 2006 to overcome problems involving divorced students since the consolidation loans cannot be separated.

Student debt consolidation loan is a problem solver for students to manage their multiple student loans easily. Get more info about loans consolidation from our links.


Original article

How to Consolidate All Those Student Loans

Once you have graduated from college you may be one of the lucky people eligible to consolidate all of your student loans. Now, it is very important to carefully consider this option, since it is only available for you to do once. It is not a good idea to consolidate your loans with your spouse's because then if you pass away, your estate is not responsible for the student loans. However if they are consolidated with your spouse, they will still need to pay them back. Just so that you know, this benefit is only for federal student loans. So here is how to consolidate all of those student loans.

1. First and foremost you need to make sure that you qualify for the student loan consolidation. For starters you need to have finished school, furthermore you can't currently be enrolled in any program and you need to determine which loans qualify. Moreover you will then have the opportunity to consolidate your subsidized and unsubsidized Stafford loans.

2. Secondly, you should carefully consider which lending company that you should opt for. Many companies today will offer you further discounts for automatic draft payments or even end up giving you a lower interest rate after a certain number of 'on time' payments. On the other hand, some companies state that the consolidation disqualifies you from these discounts. To be safe you should carefully read the fine print regarding each student loan consolidation application, then you can't go wrong

3. Thirdly, you do need to realize that while consolidation may be lowering your monthly payment, you will indeed end up with paying more in interest on the actual loan. The consolidation does generally take a ten year loan and it stretches up to twenty or maybe even thirty years. If you do decide to take advantage of the lower interest rate, you may consider paying it off at a quicker rate which means that you would avoid paying all of the extra payments, in short - you'll pay less.

4. Fourthly, you will need to fill out the application for the loan. Several student loan companies have an online application available for student consolidation loans. It does depend on your financial institution, but you may have to end up by talking to someone. Before you sit down to fill out the application, you must make sure to have all of your student loan information available to you. Otherwise it may take too long for you to do and you may end up missing the deadline.

5. Finally, do make sure that you do not miss the deadline. An important thing to note is that the student loan rate increases July 1 every year. If you file before this time you will lock in a lower interest rate and save yourself some money. If you have just graduated (and you are in the six month grace period) you can still consolidate all of the loans and have the grace period for the last for six months. Then you will need to talk to customer service representative to make sure the loan company does understand exactly what you want to happen.

Our site is dedicated to providing quality content on debt relief, consolidation, and management- absolutely free! We offer many pages of researched articles in the topic of debt relief, consolidation, and elimination. Check out our other articles at http://www.nodebtexperts.com/


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Student Loan Bankruptcies May Be Hard Cases

Often people get swept so far into debt for any number of reasons - reasons sometimes not entirely the fault of the consumer - bankruptcy is the only way out. The promise of a fresh financial start for a debt-burdened consumer is very enticing. Though this may be true, discharging a bankruptcy puts a big smudge on a credit history and it stays there for a long time.

Student Loan Bankruptcies Need to Be Considered

One should consult with an attorney specializing in such matters or a personal finances counselor before declaring bankruptcy. All debts should be considered - including student loans - because, while some debts can fall under the bankruptcy axe, there are those that will not. And student loans taken before the bankruptcy may be among them. Upon examining the total range of credit obligations, it may be that practically all of them are exempt from bankruptcy discharge. If that is the case, it may not be prudent to declare bankruptcy at all.

Getting the Axe with Student Loan Bankruptcies

A wide variety of debts that have gone bad cannot be discharged or eliminated simply by making a declaration of bankruptcy. Some examples include obligations for child support, government taxes, any fines or fees associated with criminal activities including driving while intoxicated, and there are other debts that may not be discharged according to the laws of the various states. Special consideration should be given to these kind of loans. Many of them, especially those that are backed by government plans, cannot be discharged.

Student Loan Bankruptcies Offer Incentives to Lenders

Student loans have helped many attain a higher education in the past and should continue to do so in the future. When legislation was passed, legislators wanted to nudge lenders into granting student loans, so they made them almost impossible to discharge under bankruptcy. Of course, this adds a good deal of security to the lending institutions that offer such loans and helps ensure a steady stream of student loans into the future.

Student Loan Bankruptcies and Hard Cases

To get a student loan discharged under bankruptcy one would have to prove to the bankruptcy judge that making the loan payments would be an excessive expense that would not allow even a bare minimum quality of living. An individual must be in an extremely poor financial situation to get a student loan removed completely and must be able to prove the hardship. Though the indicators of hardship may be marked by certain legislative guidelines, it is still a very subjective evaluation.

Pleading the Hard Case

Yes, it is incumbent on the filer to prove hardship to a judge, and what the judge may think of the particular situation is unpredictable. And the person pleading for discharge would also have to prove that they have made fair attempts to pay on the loan. Sometimes though, the reason to dismiss these loans is obvious because of debilitating injury or severe illness.

Managerial Student Loan Bankruptcies

If it becomes clear to the bankruptcy judge that declaring bankruptcy will not allow the debtor any relief because they are carrying so much debt exempt from bankruptcy discharge, the judge could declare any part of the debt excused through what is called a managerial discharge. The actual possibilities associated with being approved are still steep, but it could still be useful to plead for this sort of discharge.

Hilary Bowman is the author of this article. She works successfully as a financial advisor with years of expertise on Unsecured Loans. Hilary publishes informative articles about loans for bad credit and other financial topics at FastGuaranteedLoans.com


Original article

Help! I Need to Start Saving for My Kid's College Education

It's the American Dream. To have your kids grow up and go to college. To graduate from a university. To have earned the right to have those little letters after your name BA or BS. To know that your child is on the right track. The he or she has the world at their feet. Opportunity is abound. Oh what a joy as a parent to know that you did as much as you could to help them get to this moment. You helped with their homework. You drove them to their after school activities. Bought their clothes, cheered at their games. Just one little thing you forgot, HOW AM I GONNA PAY FOR THIS??

It is true that college is part of the American Dream. Not only is it part of the dream, it's a necessity. College graduates earn more over their lifetime on average than those that did not attend college. In today's economy your child will need every advantage he or she can get to help them find a good paying job, if they're lucky they will even be offered benefits. Probably one of the biggest, if not the biggest, obstacles they will have to face is paying for college. Let's face it, college costs a lot of money. According to Regional average data: College Board "Trends in College Pricing" 2010 in 20 years the cost to attend a public regional commuter college, in 2030, will be $53,023.00. The following year it will go up to $55,674.00. The year after that is will be $58,457.00 and $61,380.00 the year after that. The cost for a 4 year college education for someone attending a regional college in 2030 - 2034 will be $238,534.00.

Right now in Chicago you can buy a nice 3 bedroom ranch style house for under $200,000.00. You'll be paying more for your child's education than you just paid for your house. It's time to think about saving for college.

One way is to establish a 529 plan. The definition and benefits of a 529 plan as stated in the IRS publication entitled "How 529 Plans Help Families Save for College and How the American Recovery and Reinvestment Act of 2009 Expanded 529 Plan Features"

In summary - A 529 Plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs. It is named after Section 529 of the Internal Revenue Code which created these types of savings plans in 1996. 529 plans offer tax savings. Although your contributions are not deductible on your federal tax return, your investment grows tax-deferred, and distributions to pay for the beneficiary's college costs come out federally tax-free. The tax-free treatment was made permanent with the Pension Protection Act of 2006. There are also downsides to a 529. These plans are usually run by outside fund managers. This adds risk to the fund. In 2008, 89% of all 529 plans lost money.

Another way to save for college that offers less risk is to establish a high yield fixed flexible annuity. A high yield fixed flexible annuity offers tax savings as your money grows tax deferred. The annuity is fixed so the rate of return is guaranteed. If the stock market takes a plunge your finds are safe. It's high yield so you money grows at a rate of return that is usually better than any bank CD or Money Market can offer. There is a downside, if you withdraw the money before age 59 1/2 you have to pay a penalty of 10%. That's 10% of the interest earned, not on the principle. A flexible annuity also lets you self direct the investment. You have the option of investing your funds in any investment vehicle you want but doing so will release the issuing company from guaranteeing your rate of return.

Another big piece of advice is to keep the account in your name, not in your child's. Right now your child maybe a bundle of joy. In 20 year that could change. Maybe your child got involved with the wrong crowd or has issues. You don't want to give someone a large sum of money that can possibly do more harm to them. Also, if the account is in your name, they won't be penalized when it comes time to apply for financial aid.

Congratulations! You now are on your way to save for college.

Michael J. Ferro
President
Ferro Financial Services, Inc
http://www.ferrofinancialservices.com/


Original article

Save Money By Consolidating Student Loans

Students who are facing a challenge to pay for their education find a good financial aid in the form of student loans. A majority of students have to leave their college with a huge debt burden quite unfortunately. Apart from this, most of these students have to write multiple checks for their loan repayment each month as they are often obtained through various lenders. Consolidation is certainly a good solution to their problem.

Loan consolidation - What is it actually?

Loan consolidation is about adding all your student loans into one so that you have a single repayment plan and a single lender. Home mortgage refinancing and student loan consolidation are quite similar to each other. During consolidation, your current balances are met while the total balance rolls over to the consolidated loan. Thus, all you need to deal now is just a single student loan. Besides students their parents may also get their loans consolidated.

Can I consolidate my loans?

You should meet the following criteria:

You must fall within the 6-months grace period after your graduation, or you need to have started with your loan repayment.
The total balance of your loans that meet the criteria should be over $7,500.
You should have 2 or more lenders.
Your student loans have not yet been consolidated, or when you have returned to school and acquired fresh loans since your consolidation.

The following types of loans can be consolidated:

Federal Perkins
National Direct Student
Unsubsidized and Direct Subsidized
Unsubsidized Federal Stafford and Federal Subsidized
Direct PLUS and Federal PLUS
Federal Consolidation and Direct Consolidation
And many more.

Where can I get a consolidation loan?

You may get your loans consolidated through the U.S. Department of Education or a credit union participating in the Federal Family Education Loan Program or through a bank. Irrespective of where you get your loans consolidated, the terms and conditions usually remain same. Make sure you get in touch with the lenders who currently hold your loans regarding this.

If you have all loans through a single lender, you should get them consolidated with him.

While deciding about consolidating, make sure that you choose to do it only when you aren't going back to school and applying for fresh loans. In this way you might try to be sure that you'll achieve the best deal out of consolidation. The rate of interest doesn't usually vary between lenders, but you might achieve discounted rates through some of them for prompt repayments. Some of them will even offer discounts for obtaining the right to debit your account for monthly payments.

Your student loans may be consolidated any time during the grace period of 6 months or once you begin with your loan repayment. You may achieve a lower rate of interest if your loans get consolidated within the grace period. However, it is a better idea for you to wait till you reach the fifth month of your grace period and then consolidate your loans. This way, you won't lose the remaining grace period. It takes about 30-45 days for the entire consolidation process to get completed.


Original article

Profit From The Nursing Education Loan Repayment Program

For new nurses, the prospect of paying off several years worth of education loans can be intimidating. Some people even choose to avoid furthering their education for fear of becoming trapped by student loans.

For those who choose to enter the nursing profession, the US Government has great news, in the form of the Nursing Education Loan Repayment Program. The goal of the program is to help reduce the drastic shortage of registered nurses that many agencies are facing by helping nurses in certain positions repay their student loans.

The program is fairly simple. When a nurse signs up for the program, he or she must make a two year commitment to work in an underserved facility, usually a non-profit group. In exchange for successfully completing those two years of work, nurses receive sixty percent of their total student loans. If a nurse chooses to stay for an additional year, he or she will receive another twenty five percent of their original loan balance.

While nurses are working in these positions, they are earning a regular salary and receiving benefits that are the same as they would be for those not participating in the program. In essence, the program offers nurses the ability to nearly eliminate their loans in three years without doing anything extra.

Sound too good to be true? There are a few rules that nurses considering the Nursing Education Loan Repayment Program should know about. First, the program is for registered nurses who have completed an educational program that resulted in the awarding of a diploma, associate's degree, bachelor's degree, or a graduate level program in nursing from a school that is located within the United States. Nurses must be licensed and eligible to work at full-time status in one of the eligible non-profit facilities listed by the government. Students must be either US Citizens or must be legal, Lawful Permanent Residents of the United States.

The next part is where nurses will need to do a little homework. You will need to be working at an eligible non-profit facility or be working as a teacher in a non-profit school that teaches nursing. There are a number of different non-profit facilities that are eligible for the program, including hospitals, nursing homes, state or local health and human services departments, certain hospice programs, skilled nursing facilities, ambulatory surgical centers, home health agencies, and federally qualified health centers and rural health clinics.

There is a limit on the number of nurses who receive funding through this program, and preference is given to nurses who receive lower pay and who work in areas with the most drastic nursing shortages. Applications for the program are accepted annually, and nurses should read the information provided with the application packet completely because they will be entering into a contract with the government if they are selected. The Nursing Education Loan Repayment Program can help you start the career you have been training for without the burden of student loans.

Steven C. Brown is helping nursing students prepare for exams and tests. Read more about nursing careers and the TEAS test when applying for a nursing school.


Original article

No Cosigner Student Loans - How to Get A Bad Credit Student Loan

There's no doubt about it that it is costing even more money to get a good education. College fees are rising each year and places are becoming harder to obtain. This is made all the worse if you cannot afford to pay the fees for yourself and don't have the financial support from parents or family. When this is the case, many students look at finding no cosigner student loans to give them some support when they need it.

No cosigner student loans are certainly not as easy to get as standard types of loans. This doesn't mean they are impossible to obtain, it just means you need to know where to look. The government is one of the best places to find these types of loans. They offer federal assistance in the form of loans that don't require a co signer.

Another great benefit of government loans is they don't check your credit history. So if you have managed to get bad credit already, this won't be taken into account when they decide whether to offer you financial assistance or not. They won't even check your history as they don't have the same strict rules as private lenders. So this is a major help too.

The reason the government offers these loans is because they fully understand the importance of a good education. They will do all they can to help students get the best education they can. So several schemes have been set up to help with this. Quite of these schemes will even let you go through college before you have to pay back a single penny too. You can graduate and won't have to pay anything until you are in employment.

This is of course completely different to private lenders, who will want to be paid back a monthly amount straight away. So if you haven't looked into these government loans yet then they may be a great option for you to get a loan without a co signer being required.

The best thing for you to do is to contact your college and see what options they suggest. They will let you know about these government loans and how much you could possible borrow. It might not be enough to cover all your costs but it might just be the relief you need to concentrate on your studies and not have to worry about your finances until you graduate.

For more advice on no cosigner student loans and finding student loans with bad credit just check out our site.


Original article

Best Approaches of Finding Pell Grants With Ease

What are Pell grants? These are need based financial aids meant for students who have not yet achieved bachelor's degrees. The best thing about them is that, there is no need to repay them once they have been granted to you. This is unlike most other student loans. While this is the case, students who have families that are not financially stable can easily get this funding to further their college education. Everyone is eligible for this funding regardless of the age bracket.

However, you must have a financial need backup for you to qualify for Pell grants. Having said this, here are the strategies of finding these funding with ease.

• The foremost thing you need to do is to ensure that you have gathered all the financial credentials from the preceding years and arrange them in an orderly manner. If your parents are still alive, gather their tax return as well as W2 forms. However, if you are living by yourself, you will be required to present your own tax return and the W2 forms as well. In case you own a car, your driver's license will be required along with current bank declarations.

• To find Pell grants, there is a necessity for you to obtain a free application form for student aid commonly referred to as FASFA through online means or even from the school you have selected. Make sure you have filled the form completely with valid information and at the same time double check it thoroughly to ensure it is accurate before making the submission. Remember, having a form that is incomplete can simply disqualify you from receiving the funding. You can simply send the form through online means or simply through the postbox. The choice you make should be convenient for you.

• Be aware of the deadline. Make sure you do not do the applications late as this may result to you not obtaining financial help simply because there is no funding. This simply means that you should know the college financial help deadlines prior to making the application so that you can be on the right schedule.

• After some time, you will be provided with a report based on your student aid either through the postbox or directly in your email. Once you receive it, take time to review it thoroughly. In most cases, there is always an indication whether you qualify for the funding or not.

• If you are eligible, schedule an appointment with financial help assistance at the college you are due to attend your education and discuss on what next. As you do that, bring along your application and the report for their review. Your information will be reviewed where later on a financial help package will be sent to you inclusive of the total amount you will receive from the funding.

Pell grants are a perfect way of helping individuals pay for college education and at the same time, Pell grants can easily hand individuals their way to a successful future since they are easily available.


Original article

College Admissions Guide for Students and Families

Students and parents alike often find the college admissions process inordinately stressful. This does not need to be the case. The following tips are simple yet essential guidelines for completing the type of college applications that will lead to admission to the college of your choice. All recommendations are based on over a decade of experience in college preparation and application assistance. Each section should be addressed by students in the order presented. Parents may consider hiring a college application professional to assist their children in completing all elements included in this article to improve chances for admission and reduce stress.

Work with your guidance counselor throughout your high school experience to ensure that you enroll in courses that fulfill your graduation requirements and align with your interests.
Enroll in Advanced Placement courses in subject areas that you are interested and successful in, as the completion of each course and passing its accompanying test will lead to college credit.
Take standardized tests in your junior year. The SAT and the ACT are the most commonly accepted examinations.

It is important to keep in mind that colleges and universities typically weigh standardized tests as heavily as your grade point average, that is, your academic achievement throughout your entire high school experience. Therefore you must prepare for these tests and perform to the best of your ability on them. There are resources to help you do well such as classes in school, classes offered by private companies, individual tutors, and written and computer bases study guides. You should also consider taking SAT Subject Tests for classes that you enjoy and are successful in. Once testing is completed, it is time to start thinking about what type of college or university you are interested in attending.

Begin to research colleges and universities no later than the summer preceding your senior year. Take into account factors that are important to you such as academics, location, size, qualifications, diversity, athletics, and cost.
Choose approximately 6-10 colleges to apply to. Choose colleges and universities that have GPA and standardized test score requirements that match your ability closely, those that are more challenging, as well as those that you meet all requirements for.
If you are interested in a specific major, ensure that it is offered by all colleges you are applying to. Visit as many prospective colleges and universities that you can.

After you complete your college application list, you need to get organized. Use a system that works for you; it should be formatted well and easy to check daily. A simple computer-based database is a good choice. You need a record of submission deadlines for all material required by each college on your list and a timeline to complete each element. Transferring important dates to your paper or electronic planner makes tracking your progress easier and lessens the chance of missing important deadlines. We all have different organizational styles; ensuring that your college information is in an easy-to-use format is essential. Common elements of applications include transcripts, standardized test scores, personal statements, and recommendations.

Arrange to have your transcript and test scores sent to each college or university you apply to if required. In some states, public colleges and universities use the honor system and will allow you to type your grades and scores into their online applications.
Request recommendations from teachers/counselors/employees at least one month in advance if required by any schools you are applying to. Several colleges require their own paper forms be filled out, signed, and sent. Provide these forms upon making the request. Request them from people who you are confident will recommend you most favorably.
For colleges that require a personal statement, submit exactly that. Your statement should have enough personal information to give an admissions committee a perspective of who you really are and who you want to be in the future. Have it proofread by at least two individuals. College counselors and English teachers are good choices.
Send or submit applications only after you are sure that you do not have any errors in spelling, punctuation, or grammar. They must be 100% complete, including all required elements. Some schools send requests for additional information when needed; others will automatically dismiss incomplete applications.

It is time to think about how to pay for your education. The good news is that there are many federal, state, and private sources of financial aid. You may be eligible for grants that are based on financial need and do not need to be repaid. You may also be eligible work-study, which is a specified amount of money per semester that you can earn by working on campus. Loans are monies that will need to be repaid in the future. There are also scholarships available to students that may require research, applications, and/or essays. They do not need to be repaid.

Fill out a Free Application for Federal Student Aid (FAFSA) regardless of your financial situation and in as timely a manner as possible. You can file your FAFSA starting on January 1st each year. Awards are first come, first served. Although the federal deadline is at the end of June, you must check your state for individual deadlines. For example, in California the FAFSA for applicants planning to enter college in the fall of 2012 must be received by March 2, 2012. This date is subject to change yearly by each state.
Some colleges and universities also require that you submit a form called the CSS Profile and/or other college specific financial aid forms.
Research, locate, and complete applications for college scholarships you are eligible for.

Once you receive your acceptance [and/or rejection] letters, you are ready to choose the college or university that you will attend. Ensure that you utilize all assistance available to you. It is important to speak with your parents and/or other significant people in your life in addition to reaching out to your guidance counselor. As aforementioned, many families choose to employ a college application professional to guide them through the entire process. A student with assistance from the right person will likely be admitted to more colleges and experience less stress. Whether you have professional assistance or not, I hope that the above guidelines result in admission to the college or university that is the best for you. Good luck!

Virginia Kerrigan Ruehrwein, B.A., Providence College, M.Ed., Harvard Graduate School of Education
http://getthekidintocollege.com/

College attendance is crucial to the success of today's students. I have spent my professional career as a Teacher, High School Counselor, and Director of College Preparation Programs. Now I provide private, one-to-one assistance to students in the San Diego area who need academic tutoring, standardized test preparation, motivational counseling, and perhaps most importantly, college application assistance. You will not find a more passionate, dedicated, caring professional to guide your child to admission to his or her college of choice.

Please click the above link and check out my website, video, and testimonials!


Original article

5 Tips for Minimizing School Loan Debt

Attending a college or university is often an expensive venture due to the high cost of tuition, books, dorms, food and other added fees. The problem with the high expense is that many students end up taking out large student loans to pay for all of the costs. After getting out of college, the debt lingers and is often challenging to pay off completely. Fortunately, it is possible to minimize your school loan debts.

Scholarships and Grants:

Scholarships and grants should always be one of the first steps to paying for your college expenses. Since scholarships and grants are free money that you can use for your degree, you will never need to pay it back. Scholarships and grants are available through the school, from private companies and from private organizations. They have specific requirements, such as a specific field of study or a specific GPA, but if you receive the money it will save on the amount of debt you take out.

Savings:

Open a college savings account early and put aside some money specifically for college. Starting as early as possible is ideal, but even if you start in high school you can have enough money put aside to pay for part of you college expense without touching debts. A 529 savings account is a perfect opportunity to lower your taxes and save up extra money while also investing that money. By adding an element of investing to the savings, you'll end up with more money for college available. If you decide to use a 529 college savings account, you will need to declare it on your FAFSA application.

Work During College:

Working part-time while you attend college can help you manage expenses while you are going to school. While it might not provide enough money to pay for everything, it will help you pay for some of the expenses like books and part of tuition.

Limit Student Loans:

Take out only the amount you need after exhausting all other sources of money to pay for the college. This will minimize the amount of money you take out in loans by preventing you from taking out extra money. Keep the amount of student loans you take out to the lowest possible amount rather than the maximum.

Make Loan Payments:

While you attend college, you are allowed to make loan payments on whatever student loans you've taken out. By paying as much as you can before getting out of college, by the time your degree is complete you will have paid back enough of the loan to have a much smaller debt.

Conclusion:

Limiting your student loan debt is simple. You just need to avoid taking out more than you absolutely need to pay for college and use other options at the same time.

Joann Carlisle is a writer who looks forward to sharing her knowledge and advice with readers. For more on school loan debt, Reduce Debt Faster offers readers advice for how to consolidate student loan debt.


Original article

How To Obtain Student Loans With Bad Credit And No Cosigner

When you are interested in continuing your education, you may have a hard time getting the money you need to pay for it. This can ring true if you do not have a good credit rating and you could be scrambling around to find the money you require. Finding bad credit student loans can be difficult, but it can be done.

The first thing you need to do is determine how much money you are going to need. This will help you to decide on what kind of loan to find for yourself and your educational needs. Often you must be enrolled in a program to get the loan, and in doing this you will have a pretty good idea about how much you are going to need.

Once you have figured out the amount you need, you can certainly try to borrow money from a bank or alternative lending company. This may not always be successful if you have poor credit because you do not have a cosigner who can guarantee the loan. You may need to do some research to find places that consider this kind of loan with your financial constraints.

There are some federal programs that can help you with the money you need for school. Some are loans that you do not have to pay back until you graduate from your program. Others are federal grants that have been created to help students with limited funds and less than acceptable rating to get funding for school.

The grant that is federally provided only requires that you have not graduated with a bachelor degree at the time of application. This grant does not have to be paid back at all. It is free to apply and the money you get is also free.

The federal loans that are available to students who cannot rely on good scores to get are based on no credit, no cosigner situations. These loans need to be paid back, but you do not have to pay it back until after you are finished with your education. They generally have a lower interest rate and other options that are palatable to students starting their careers.

When you need bad credit student loans it can be a bit harrowing to locate them. If you do a little bit of research, you are likely to find what you need and what will suit your needs. Often times the admissions staff of the school you are interested in going to can help you find the options that will work for you.

Even if you have had, or are now faced with some worrisome or severe credit issues we have bad credit student loans to meet your needs. Visit us now for bad credit studentl loans, an easy online application, and fast approval.


Original article

Consolidating Federal Student Loans - Fundamental Data That You Ought to Know

The latest state of the economic system has turned schooling into some type of luxury, somewhat limiting the power of this proper to using those that can only afford it. For this reason, those who wish to work their means into finishing their degrees have turned to numerous financial assist options to do so. After graduation, these students normally flounder to meet the terms of the loans that they have incurred during their student years. One option that many individuals have tapped into with a purpose to make the compensation process easy includes consolidating federal student loans. Listed below are some basic things that you should perceive about this reimbursement possibility and about how you could use it to your advantage.

Most of the time, the principle downside that people has in the case of paying off the loans that they've incurred over the years is dealing with a number of payments that they must make for a number of loans. By consolidating federal student loans, you get to do away with the effort and the stress of getting to meet varied payment deadlines and are in a position to repay all their debt via one fee, which is also performed regularly. Basically, you would be combining all of your loans into one single amount, which might be easier to work with as a result of the calls for are much less tasking. This is an easy luxury that may make the over-all compensation course of much simpler.

In addition to combining multiple funds to a single one, you might also use this compensation choice to minimize the sum of money that you would have to use to get rid of the interest rates of your loans. Students are likely to fall prey to unfavorable interest terms, both as a result of they did not know higher after they utilized for the loan or because they simply had no other choice. This simple mistake will hang-out them for all through the entire period of their repayment period and would drain their funds in the process. Consolidating your loans would allow you to cast off this minor problem, mainly as a result of consolidation choices usually supply low interest rates. This implies which you can start paying off your excessive-interest loans simply by consolidating them with the others.

The method of consolidating federal student loans can be quite simple, so long as you've got the necessary items of documents in your possession. You may additionally get the help of knowledgeable in having your case assessed and in having the method carried out, if you wish to make the duty as efficient as possible. There are also numerous varieties of companies that can afford you this repayment possibility, each public and private, all of which may give you consolidation programs that can fit your needs and your financial capacity. See to it that you simply peruse the market for all the options which are accessible to you prior to making your choice. Consult together with your peers as properly, especially those that have successfully used this selection previously, to make sure that you could be dealing only with highly dependable and highly able individuals.

Do not let your odds for university education passing bye. If you don't have sufficient funds to finance your profession now at the beginning, take into consideration how you are going to have enough funds once you get a greater job with a better degree level, and to be able to repay your federal student loans. Additionally, learn more on the subject of consolidating federal student loans.


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How To Refinance A Student Loan With Bad Credit

The main reason why students are interested in refinancing their current student loans is to reduce their monthly payment amount. If you decide to refinance student loans with bad credit, there are several different things that you need to consider.

First, you will need to determine what type of loan that you presently have open. There are federal advances that are granted to students that want to attend a higher learning institution and private advances. These two lending options cannot be combined into one payment. Therefore, they will both need to be refinanced separately.

A lot of the federal cash advances that are given to students have a lower interest rate than the private advances. The private advances are normally given to students with the assumptions that their income will increase when obtaining additional education. If you were to mix both of these cash advances together when refinancing your loans, you will end up paying a higher interest rate than if you were to refinance both of these advances separately.

Each lender will have different eligibility requirements that their customers must meet in order to be serviced by them. There are some lenders that will not require students to pay any money on the funds that they were lent until they graduate from college. However, there are other lenders that have a minimum balance requirement, and credit guidelines that they expect their clients to adhere to.

When you decide to refinance student loans with bad credit you can reduce the amount of funds that you are expected to pay every single month on the money that was given to you. The two ways that you can lower your monthly payments is to obtain a lower interest rate, or extend the total duration time of your loan.

Even though your rating is one of the main things that most lenders pay close attention to when refinancing loan obligations, there are some lenders that do not care if your credit is poor. Lenders that allow students with low scores to refinance their loans may ask for a little bit of extra money because of your poor payment history.

It is important to do a lot of research on various lenders that offer students with low credit ratings the ability to refinance loans that they had to take out for their education. In order to ensure that you are getting the lowest repayment rate that you can get, you need to do some homework and take out some time researching your refinancing options.

We help borrowers who seek personal loans and bad credit student refinance loans to help refinance existing higher interest loans. Contact us today for more information on how to bad credit student refinance loans and an online refinance loan application.


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Can You Refinance Student Loans After You Have Consolidated Them?

There are quite a good number of institutions that offer to refinance student loans. You have experienced this if you have been in college. Such offers may seem quite tempting however; it would be wise to find out more on what is involved. There are a number of things that you may need to consider before applying for one.

Generally getting a refinance can be quite beneficial to any student. This usually happens when you choose to consolidate all your loans into one. Consolidating a student loan is meant to enable you save on money especially when it comes to paying interests. However, it is necessary to be cautious when taking this road since you do not want to end up paying more than anticipated. Here are a few tips you may need to look out for before making any major decision.

Always pay attention to the interest rates on offer. Scan through your current interest rate as you compare it to the one being offered. You would be better placed to calculate the average of your current interest just to be sure that you would be getting a good deal. It may also be necessary for you to find out if the rates on offer are adjustable or fixed.

It is also important to look out for the terms and conditions involved. This is very crucial since losing out on any important detail may cost you a fortune. Find out if the proposed terms work for you. Some companies may require you to be at least over 18 years and a citizen of the United States. You may also be expected to have a monthly income to facilitate your loan. All these are terms that you may need to put into consideration.

Find out from the lending company when they expect to receive their first payments. Most of institutions would give you at least six months from your graduation date. Some companies may or may not give you a payment grace period. However, you can compare how convenient this would be for you.

Refinancing loans can prove to be really beneficial especially if you consolidate them to one company. This is meant to help you manage your loans for the sake of convenience. Being able to consolidate your loans after completing college makes it even better. It is important to find out if the company of choice gives you this option.

Always go for a company that would continue refinancing you even when you are done with college education. Some may give you time to get a job before you can start making your payments. This would allow you to make the monthly deductions from your salary. A good company should also be able to accept payments taken early. It would be wise for you to know that there are some companies that penalize their client if payment is done before the date agreed upon.

The best place to get information on different companies that offer refinancing is online. There are various websites that allow you to browse through as you look for these companies as well as their contact details. Once you spot one that captures your attention, you can opt to reach them for further information on their interest rates.

We help borrowers who seek personal loans and student refinance loans to help refinance existing higher interest loans. Contact us today for more information on how to bad credit student refinance loans and an online refinance loan application.


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Student Loans Without A Cosigner - What If The Federal Loan Is Not Sufficient?

Education is a very costly enterprise and many families find it very difficult to send a child to college, however much the young person wants to study and get ahead in life. The situation is particularly bad these days because of the worsening economic situation that has seen people's wealth eroding. The Federal government offers a variety of loans to deserving students who cannot manage to pay for education on their own. Federal student loans without a cosigner are usually offered at very low rates of interest and they also have very easy repayment terms. A person doesn't even require presenting a credit report in order to avail of these loans.

As attractive as federal student loans without a cosigner are, they do have a serious disadvantage. These loans are offered on the basis of need, as they should be, but the amount that is disbursed is never too big. There are many costs associated with studying in college and tuition fees are only one of them. The student will also need a lot of money for living expenses and for commuting to college. The tragedy is that many families still cannot afford the extra money required.

There are quite a few things you can do in case the federal loans you have received are not sufficient. You can always apply for student loans without a cosigner from private lenders. You can get large amounts of money from these lenders but they come at higher rates of interest. This is not too surprising because these loans are usually unsecured. These loans are usually extremely easy to get because there is a lot of competition in this sector. One can even apply for these loans online. The approval process is rather quick and the student will be all set for college in a very short while.

Since these loans are rather expensive you should look at other methods to reduce the cost of your education. One of the simplest ways to get additional funding is to sign up for your college's work study program if it has one. This will enable you to pay back the loan the college gives you by working for the college.

You should study all the options available to you before you apply for student loans without a cosigner. There are plenty of websites that will give you all the information you need. This will enable you to get the education you need without entering the workforce with a huge debt burden.

Student loans without cosigner enable you to get your college education completed without too much expense. Find out how you can find the best combination of loans to reduce your financial burden.


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Student With Bad Credit? Wondering If You Can Get a Bad Credit Student Loan?

If you have a bad credit rating, or no credit rating at all, you may be wondering if you can get the bad credit student loan you need to obtain a higher education. Your first option should be to scour the market for grants and scholarships. Another option would be to find a cosigner who has a steady income and a credit rating better than yours. Cosigners could be your parents, close relative, or other individuals who are interested in your future.

Prohibitively Expensive

In spite of the high cost, many are willing to stake their financial future to obtain a college education. Of course, a higher education will help you land a better job in a career field of your choice. A loan may be the single way to get you through four years of study. You may even be able to land a student loan without a cosigner.

If You Need a Cosigner

If your credit is bad enough that you are having trouble finding a student loan, you may have to seek out a cosigner. This cosigner must understand that should you default for any reason, the loans become their responsibility. Bad Credit student loans do carry higher than average interest rates, but having a cosigner will bring those interest rates down. Special efforts should be made to repay these loans to avoid bad blood between you and family members or friends who have believed in you. Also, if payments are made in a timely manner for a number of months, you may be able to eventually to get the cosigner off the loan and out of legal obligation.

Government Loans

In spite of poor or no credit scores, government loans exist that pay no attention to credit histories. These come under the name of Stafford or Perkins loans. You will find that these loans offer many helpful benefits: Relaxed qualification benchmarks. Repayment plans that are flexible. Low interest rates. Even some students who are rated as very poor risks can land one of these loans. They are given with qualifications regarding the school where studying will take place, the number of credit hours taken, etc. Credit scores are not even considered.

Federal Loan Applications

Do not think that applying for one of these loans is a big complicated deal. The process is really rather easy. You will need to complete the Free Application for Federal Student Aid (FAFSA). The FAFSA is the application most colleges use to determine eligibility for federal, state, and college-sponsored financial aid, including grants, educational loans, and work-study programs. You can get one online or from the student financial aid office at your college or university. There are deadlines, so plan ahead.

Private Lenders

Sometimes banks or credit unions are willing to give bad credit student loans. Another source for private lenders is the internet. Loan interest rates and repayment terms will not be as comfortable as government loans, but still, they are there. Because of the large number of lenders, you should shop around and get the best interest rate and repayment terms.

Do Not Stop Thinking About Tomorrow

You should not let bad credit (or no credit) get in the way of your pursuit of a higher education. Getting a student loan, government or otherwise, will also give you a chance to improve your credit rating for the future if you make timely payments as outlined in your contract.

Mark Venite is the author of this article and a successful financial advisor with 20 years of experience. He helps people to get approved for Bad Credit Personal Loan and Student Loans with Bad Credit. For more information about his services please visit him at AccessMyLoan.com


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Unforeseen Event Procedures for Defaulted Federal Student Loans

There are a number of components that may cause for federal student loans to be defaulted, most of which involves you failing to satisfy the assorted loaning terms that you've got agreed to. Usually, federal loans cause bad repercussions on the edge of the borrower because completely different charges and expenses will likely be positioned on top of their missed payments. Fortunately, there are a number of things that you can do to restrict the bad consequences of defaulted federal student loans. Here are some measures that you may look into, if ever you end up in this sticky position.

Since having your student loans defaulted will cause dark marks on your credit history and rating, you need to see to it that you carry out the necessary steps that will allow you to prevent this from happening. The first thing that you should do is to contact your principal lender and to make it known that you have no intention of running out on your obligations whatsoever. Be honest about the main reasons why you have failed to meet your payments, for they surely are nothing that your lender has not heard before. After doing so, try to suede your lender against placing the incident in your financial history by negotiating for new terms of payment that will benefit both sides.

Defaulted federal student loans can be very easy to deal with mainly because your lending agency would surely want to get its money back. With this said, it is more likely that he would be agreeing to the payment terms that you would propose, as long as it will not hurt him. For this reason, you need to be able to find the middle ground where your lender will get the payment that he deserves without you having to exhaust all possible means to come up with the money that you need for them. You can consult a third party, like an accountant for example, if you do not think that you can come up with these terms yourself. See to it that you come up with an agreement that you would be able to stick to, in order to avoid jeopardising your chances of rehabilitating your loan standing.

However, you should know that solely talking to the lending agencies that sponsored your defaulted federal student loans will not do the trick. Of course, you need to ensure that you make the payments that you agreed to on or before their deadlines, and that you work with the other terms of the new agreement that you have drawn up. You should also understand that it will take quite some time for your defaulted loan status to go back to its previous health. As a matter of fact, you would have to wait for at least 20 days after you make your ninth payment before you get your defaulted status revoked. Worry not, for as long as you pay your dues religiously, you should be able to get your former loan state back in no time.

Do not allow your chances for university education go bye. If you don't have sufficient income to finance your profession now in the beginning, take into consideration how you are going to have sufficient funds once you get a better job with a higher degree level, and to be able to repay your federal student loans. Additionally, learn extra on non federal student loans.


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Why Many People Choose Private College Loans Over Government Loans

Government backed student loans certainly have their merits because they enable a lot of people to pay their way through college. However most people find that private student loans are generally more beneficial, for various different reasons.

First of all there is the fact that private student loans can be for a much larger amount, which is a major bonus. They are also very convenient because you can apply for them at any time of the school year and the actual amount of the loan will be sent to you directly instead of the university where you will be studying.

You will surely have noticed that the cost of going to college continues to rise every year. So it pays to have easy access to some much needed funds during your four year stay. Federal loans are often a lot smaller and only tend to cover some of the costs that you will face during your time at college. It is the parents that often need to fork out the rest, but with a private loan you can get the money you need because you should have no problems paying this extra amount back once you graduate and get a well paid job at the end of it.

There is actually no upper limit when you apply for a private loan. This doesn't mean that you should borrow as much as you possibly can, and have a lot of fun during your college years. However what it does mean is that you should be able to afford the higher fees should you choose to go to one of the best colleges, which are of course the most expensive. You can also pay for any remaining expenses such as accommodation, books, tuition fees and day to day living expenses.

Not everyone has the financial means to go to one of the top colleges if they come from a poor background. A government loan certainly isn't sufficient to pay the yearly fees in most cases. However a private student loan enables anyone to fulfill their dreams.

The reality is that having a degree from a major university will give you a head start over many other applicants because businesses, rightly or wrongly, often favour those people who have qualifications from these top institutions. Indeed some companies will throw your application form straight in the bin and not even consider giving you an interview unless you have a degree from a top college, even if you have top grades.

Another great thing about a private student loan is that they can be really flexible. The lending company will often give you a six month grace period after you graduate before you need to start making any repayments. This will give you time to find a job and get yourself sorted.

It pays to do some research and compare many different offers, because each loan will have different interest rates, different repayment terms and different fees and expenses. It can be quite a daunting experience applying for one of these loans and taking on so much debt at such a young age. However I would say that it's definitely worth considering getting a private student loan because they allow you to borrow more money so you can attend whatever college you want, which is probably worth the extra financial burden.

Click here to find out more about some of the best student loans for college and to find out how you can get student loans without a cosigner.


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How to Clear College Debt Free

Save for a lucky few who are well off, most students need loans to get through college. The cost of getting a degree has gone up considerably and with additional expenses like accommodation and food, it is very easy for a student to get themselves in financial trouble after clearing college due to debts accrued over the years. There are a ways to avoid these post college debts. Some are highlighted below.

Advanced Placement Classes

Credit transfer is a provision of the education system that many students do not take advantage of. Credit transfer involves taking some of the courses offered in college in high school then transferring the grades to your college transcript. This ensures that you do not have to do this units in college. The advantage of doing them in high school is that once in college,the student is under less pressure and most importantly, enables them to save on costs as high schools offer less rates per unit taken as well as free learning materials. If you manage to do some units before you get in to college, you will reduce the tuition costs of college thus avoid some post college debts.

Skip the Loans

If you can do without the student loans, there is no need to apply for them in the first place. Even if you need them,there are various ways that can ensure that you borrow a smaller amount or completely avoid them.The most effective way is to do your course part time while working. Though this means the degree will take longer, once you clear, you will not have any post college debts.

Save and Economize

what gets most students in financial trouble in campus is the peer pressure and intense competition that ironically, is not in academic matters. The course years in campus is the time when everyone is trying to look cool and outdo each other. This war takes place in the form of the latest fashion items and gadgets. For those who cannot afford these things from their own money, they turn to piling debts on their credit cards to look cool. to avoid falling into this trap,try to pass on the latest car, fashion, electronics and expensive housing. It will save you lots of money. It makes more sense to know that after the four years of college, you can afford all you want with the money you would have used to clear the post college debt.

Pay Off Debts Fast

After college, there is usually a given grace period that is awarded to students whereby they can pay off their student loans without any interest. This post college grace period is usually between 6 to 9 months after graduation. This is the best time to pay off your loan as the amounts you deposit goes straight to offsetting the principal amount. This period is also the prime point to enjoy tax deductibles. Take advantage of this by setting up a loan repayment strategy then stick strictly to it. Though this may hurt for a while you will soon feel better when you are debt-less and stress free.

The above methods will go a long way in reducing the amount of post college debt. An additional one is to shop around for cheaper colleges to pursue your course. Not everyone has to attend Ivy League colleges to get quality education. There are a number of cheap colleges that offer quality courses at a very low cost. All you have to do is make sure that the college is registered and recognized by the relevant regional education office.


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Sallie Mae Offers Tuition Insurance: Buyer Beware!

Sallie Mae has recently added a tuition insurance plan to students and parents. The plan is offered in partnership with Next Generation Insurance Group. According to the NY Times, however, the plan reimburses at different rates for physical and mental health withdrawals from school.

While physical causes for withdrawal result in 100% tuition reimbursement, mental health withdrawals from school are only reimbursed at 75%, and often require a multiple day hospital stay. The irony is that mental health issues are most likely to be the reason a student will have to withdraw from school.

There are some underwriters who offer equal coverage for physical and mental illness withdrawal but Sallie Mae chose to partner with a provider who insists on disparate treatment.

Federal law now mandates equal coverage for mental and physical illness where employers offer insurance for mental health, however tuition insurance is only based on health, but is not actually health insurance and therefore doesn't fall within these rules against disparate treatment. According to Ken Libertoff, a Vermont consumer advocate, parents need to be aware that there is a fatal flaw in these plans.

Premiums for Sallie Mae's tuition plan can go as high as $599 for $50,000 of coverage. But students can get free insurance for $5,000 of coverage, and following the article in the NY Times, Sallie Mae started offering 100% mental health coverage to students who take the free coverage. One forgiving provision in Sallie Mae's coverage allows students to purchase the coverage even after the school year has begun, allowing a backdoor out for students whose mental health issues may be in check at the beginning of the year, and want to give school a try, only to realize that they're in over their heads, emotionally, and need to drop out for mental health reasons.

The coverage is generally not available for an illness that was "active" when the student enrolled in the school, however conditions such as anxiety or depression may be exempt from this disqualification even if being treated prior to enrollment. About 1,200 private schools offer some sort of tuition insurance, and many of those schools make it mandatory for new students. At most colleges, however, less than 10 percent of parents sign up for tuition insurance.

Whether Sallie Mae will equalize its coverage for both physical and mental health issues on all its tuition insurance policies remains to be seen.

Marcy Einhorn is a New York attorney and The Money Coach.

Marcy is available as a speaker for community organizations and business events, and also offers confidential, personal money coaching. Contact Marcy@nylifeordebt.com for more information.

http://www.nylifeordebt.com/


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The Three Main Benefits Of Acquiring A Student Loan

With the economy as it is today, it's vital that you get a college education to giver yourself the opportunity to find a decent job and to at least try to get the necessary foundation that is required to get a high paying job within your chosen industry. It's no longer a luxury to have a college education, it is more of a necessity, and that's why exploring all your available option for student loans is important.

Below, I've outlined three of the main benefits for acquiring a student loan.

1) College Education Is Guaranteed

When seeking your college education and you've not received an academic full ride scholarship, the task of paying for college can seem daunting. That's why it's important that you explore all your available options. Such options as student loans. One of the main benefits to receiving a student loan is knowing that your education is fully guaranteed and paid for. With your tuition fully paid your only task is to ensure that you study and pass the course work to ensure that you graduate.

Of course knowing that your education is paid for is a plus, but if you've taken out a student loan, then you know that you'll have to work hard to ensure that the loan was not made in vain. This will definitely be an incentive to work hard, as your money is on the line.

2) Government Funding Can Lead To Grants

Another great option for student loans is to use the available options that the government provides for funding your education. There are a few programs that the government has created to ensure that each person has the opportunity to attend college. A bit of research and you'll find options such as the Pell Grant or Direct Loan that the government provides to qualified individuals. A simple search online will lead you to the official website of the US Dept of Education that goes over everything you'll need to get the funding you require.

3) Does Not Have To Be Paid Off All At Once

The beauty of student loans is that the loan can be re-paid over a number of years, and in some cases you do not need to worry about repaying the loan until your education is completed. Once you start an actual job, you can then factor in re-paying the loan from your salary. It's important that you try your best to excel in your education to ensure you give yourself the best opportunity to find a job that pays well that will allow you to repay your loan along with being able to still afford the luxuries in life.

These three options alone show the true benefits of acquiring a student loan. You get the feeling and peace of mind of knowing your education is guaranteed, you have the opportunity for government funding, and you can repay your loan over a period of time.

Since you're actively seeking student loans then you should definitely look into these options for the best student loans available to you.


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Student Loans For Nurses

Nurses are in high demand right now, which is good news for students who are interested in becoming a nurse. It is easy to find attractive student loans that have your nursing career goals and education in mind.

With the correct information, you can put together a loan package that includes very low interest rate and an easy repayment program.

Federal loans for students are your first source in financing your nursing education. They are low-interest and long-term making them a perfect resource and the first place to start. To apply for a federal loan you have to fill out the FAFSA. The application is free and is available online, making it very convenient and easy to complete.

It is important to remember there is a deadline. You have to get the application completed on time or you will rule yourself out from a major affordable source of funding for your education.

Another option are discounted Stafford student loans. These loans are sometimes packaged with tempting incentives. The best way to find these loans is to shop lenders for Stafford student "nursing loans". In Virginia for example, you can get a discounted Stafford Loan because a lender and the State of Virginia work together to extend a loan to students prepared to stay and work as a nurse.

There is also a government loan program with low-interest available. You may qualify and be entitled to a Nursing Student Loan if you are registered in an accepted nursing program. This is a campus-based loan program and the funds are administered by the financial aid office at the participating schools.

These loans may not cover all the costs associated with your education. You may still need to borrow more and you might consider a private loan. These may seem very accommodating but they can be expensive and should be your last resource.

Another option are programs for loan repayment and loan forgiveness. These programs assist with repayment of student loans for nurses. One highly recognized repayment program pays up to 60 percent of your loan if you qualify. Another program for repayment requires you to make a two-year commitment, and you may qualify for either partial or full repayment of your student loans.

Minnesota is a great example of a repayment program for student loans. Nurses committing to working in a rural facility may earn approximately $6,700 per year for a maximum of four years toward loan forgiveness.

With some preparation you can find long-term, low-interest loans and if you take advantage of a loan repayment or forgiveness program your nursing education may become rather inexpensive.

Steven C. Brown is helping nursing students prepare for exams and tests. Read more about the TEAS test when applying for a nursing school.


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How and Why Benefit From Graduate Grants?

The current living standards are making many students experience many challenges as they try to raise their schooling fees. These have turned to grants and loans to help them finance their education. Graduate grants are not hard to get if one follows the right technique in writing their essays. You should also ensure the information you enter in the application form is correct.

The application form can be gotten from various government resources and colleges. The most beneficial thing about graduate grants is that it can still be applied and granted to people wishing to complete their graduate school via online programs. These can apply for the grants to help them cater for their schooling expenses. As such, the loans will not have to be paid although one should abide by the set norms in the guidelines for the grants. Nevertheless, there are things you need to have in mind as you strive to get the grants.

What to remember?

• In writing the essay and filling the application form, one can consult the college counselor. He or she will be in a better position to guide you in giving the required details in the right way. They will also guide you in going through the submission process so that you can have your form approved faster than if you chose to do it all by yourself.

• People in dire need of financial help should apply for more than one grant. This will give them a better chance to benefit from one grant or two. These will be very important in helping them pay for their education and other expenses.

• When writing an essay, it is important that you highlight your objectives and accomplishments. Make it as good as possible and outline it the best way you can. This will require sometime of practicing and you should be ready to spend quite sometime trying to write the best draft possible. Make sure you make it communicate with the person you are writing to. The people who will give you grant need to be convinced that you qualify for the grants. Be genuine and show some commitment through your writing.

• Graduate grants are very little sometimes. This may necessitate the need for grants from more than one institution. They may also lower the cost required by any loan you may require in order to finish your school. Therefore, it is important that you always remember that loans for students should be kept at the lowest rates possible when you are attending school.

• It is also advisable that you talk to your local counselor for advice before applying for loans online. This is important because they could be aware of better grants available for you. This will help you reduce the amount of loans could be having by the time you complete your schooling. You should also bear in mind that by applying for more grants, you are likely to qualify for more. Thus, you stand a better chance of benefiting from more grants. This will help you in getting through your schooling life without many difficulties.

While it may be challenging to access graduate grants, they are really rewarding. Once you qualify for graduate grants, you will be in a better position to complete your schooling life without many loans to pay later.


Original article

Some Pointers On Landing a Bad Credit Student Loan

Bad credit will be a challenge as you seek funding for advancing your education, but a plethora of options are available to get a bad credit student loan. Bad credit should not keep you from reaching your goal. Your first point of contact should be the financial aid office at your school. The people there can guide you to find whatever financial assistance may be within your grasp.

Free Money with Scholarships and Grants

You may be eligible for a scholarship or a grant without knowing it. Scour the financial aid office for these resources. It may only be $500 here and $100 there, but it is free money. You do not have to pay it back. It is one way America invests in the future of its young citizens. You just need to put in the research to get it. Diligent research and filling out tiresome forms are what it takes to earn this free money.

FAFSA Is an Important Step

An important step is filling out the Free Application For Federal Student Aid (FAFSA). This is a sort of catch-all application form that federal counselors will cross reference against a database of federal student aid programs. Using it should not prevent your own research. Submit applications to everything and anything that could possibly benefit you financially. Do not get discouraged. You may also want to check out any work-study programs your school may offer.

Federal Loans Are No Credit Student Loans

In financial circles, no credit is almost on the same level as bad credit. But, many federal loans are granted without considering credit ratings. This is based on the assumption that most students go directly to a college or a university immediately after being graduated from high school, without any time to really build a credit history. So credit checks are rarely run. You will be checked to see if you have defaulted on any previous federal loans.

Online Bad Credit Student Loans

Point your browser to bad credit student loans and you will be rewarded with scores of lenders willing to lend to students with bad credit history. Since so many students have taken hits on their credit scores, and since banks and credit unions are not in a lending mood, private lending companies have stepped in to fill the breach. They will be more amenable to funding students who are studying in certain areas or pursuing certain degrees - medicine, law, and engineering.

Online Warnings

As with any online transactions, be sure that any websites where you divulge financial and personal information are secure. Check the reputation of the lender. You should be able find them graded in online Better Business Bureau listings. You may even find feedback from previous customers. Understand that percentage rates will be somewhat higher than current market rates. If you work on mending your credit history while you are in school, you may be able to consolidate these high-interest student loans at a lower interest rate after you are graduated.

Cosigners for Bad Credit Student Loans

Do you have someone interested in your future? You might want to consider asking that someone to cosign a bad credit student loan for you. He or she should be gainfully employed and possess a decent credit history. They should also understand that should you default on the loan it becomes their burden. After a year or so of faithful payment, the lender may agree to take them off as cosigner.

Give Yourself a Financial Hand

As you can see, with grants, scholarships, word-study programs, federally funded loans, cosigners, and online lenders, you should be able to finance your education so you can study in peace, without having to worry how the next tuition bill will be paid.

Hilary Bowman is the author of this article. She works successfully as a financial advisor with years of expertise on Unsecured Loans. Hilary publishes informative articles about loans for bad credit and other financial topics at FastGuaranteedLoans.com


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Student Loan Debt Consolidation Tips

There's something about credit card money or student loan money that people find hard to take seriously. You're young when you take on student loans; it's hard to really get a feeling for how difficult money usually is to make. The $20,000 or $30,000 that you take on can easily seem like Monopoly money. All you need to do is get on the Sally Mae website, fill in a simple form and wait for the money. Shortly before graduation, when you begin applying for jobs all around, and you begin to see how tough it can be to make a decent salary, that's when it sinks in - you have to pay about $300 every month. At least three out of four people entering college leave at the end with some kind of massive student loan. It's a major problem. One of the first things that can occur to anyone struggling with a clutch of seven or eight student loans is this - student loan debt consolidation.

Doing this can really lower your payments in a way that can make all the difference to a struggling young graduate. Not only does it simplify everything to have one or two loans to pay instead of seven or eight, it can actually make it cheaper every month. Every loan comes with a high minimum payment. Bring everything together under consolidated loan and you have to pay just one minimum payment. And then of course, there's the hope that consolidating helps lower your interest rates and helps lower your payment in general by stretching out your repayment period.

Not every student loan debt consolidation package works that way though. To begin with, federal student loans come with fixed interest rates these days. This means that with federal loans, student loan debt consolidation doesn't really lower your rate that all. It only simplifies things and it could help stretch your repayment period out (although you'll have ended up paying thousands of dollars more in interest by the time you've paid everything down).

You should only consider student loan debt consolidation plans if you're having a great deal of trouble making your payments right now -in the hope that things will improve in the future. Because while any kind of consolidation you take on will certainly lower your monthly payments, you really will end up paying dearly in the end in added interest.

Starting in 2009, borrowers have been able to opt for what is known as an income-based plan. They work out a certain percentage of your salary that you need to pay every month. They don't charge you a fixed sum. The good news is that you don't need to have opted for such a plan going in. You could opt for an income-based plan at any stage. The great part here is that when you do this, you reset the clock on your repayments; you get a fresh 25 years.


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A Student Loan Refinance Deal to Help Organize Your Finances

Student loan experts often get asked this - is a student loan refinance move possible the way a home loan refinancing deal is? Well, if you've taken out more than one student loan and you have several minimum payments to make every month, a student loan refinance deal certainly would be possible and even advisable.

A refinancing deal should be of interest to anyone who finds it difficult to make all their payments every month. You wouldn't have different minimum payments to make nor different interest rates to deal with. When a deal like this works out in your favor, you'll be able to get everything together under one interest rate that is lower than what you would have paid with all the discrete payments. At the end of your student loans, when you've paid every cent down (yes, the very possibility does feel good to hear) you will find that you will have paid thousands less in interest.

Before you actually go and apply for something like this, a look at your credit report wouldn't be out of place. If there's any kind of credit-lowering entry in your credit report, you should probably take care of it first before you go in to file for your refinancing deal. You stand a great chance of getting the lowest possible interest coming to you this way. You would also benefit by smoothing out the application process to a considerable degree.

So where exactly do you go for a student loan refinance deal? In general, regular banks and credit unions do this. For an easier time so, an online lender might be better; you would get more competitive rates with an online lender. Shopping around would be a great idea.

If you're really keen on getting the best refinancing deal possible, you should probably keep in mind that getting it done during the six-month grace period you get right after graduation would be a great way to get at least a half percentage point knocked off your interest rate. Lender incentives can be great way to get a point or two knocked off too. Applying with a lender to have an auto debit set up with your bank account for the payments to go out automatically each month could get you a quarter percentage point off. ScholarPoint is one company that does this. If you pay on time every single month for three years, lenders like these will even knock another percentage point off your rate.


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Pros and Cons Of Fixed Rate Student Loans

Not many students know how to apply for a fixed rate loan and the pros and cons of it. Fixed rate student loans have several advantages as well as disadvantages. As the name suggests, one of the good things about it is that borrowers do not have to worry about fluctuating interest rates. But before you apply for a loan, you have to know what you are getting yourself into.

Fixed rate student loans are can be attained by consolidating several student loans into one master loan. By consolidating your educational loans, you will get to repay all the money you have borrowed with one flat interest rate to only one lender. This is indeed very simple since you do not have to go through the trouble of repaying the loans individually to various lenders. Yet the fixed interest rate given by the consolidation may backfire since you can end up with a slightly higher interest rate. This is because the average interest rate of the consolidated loans is rounded up to the nearest 1/8 of a percent (0.125, 0.25, 0.375, 0.5, and so forth). The lowest interest rate of a consolidation loan is 4.70%, while the highest rate would be 8.25% for Stafford loans and 9% for PLUS loans.

As the consolidation combines all your educational aids altogether, you will end up with a great amount of debt and a longer repayment term. Generally, the repayment term of fixed rate student loans ranges from 10 to 30 years. The length of the repayment period depends on the amount of the loan. If you can afford it, you are advised to stick with the 10 year repayment plan. Longer repayment term indeed means lower monthly payment (in particular cases, the borrower can save up to 50% per month). However, there is one thing that you have to keep in mind: the longer the period, the higher the interest rate.

Another disadvantage of loan consolidation is that you are not allowed to combine federal and private educational loans. To consolidate these two types of loan, you must separate them. Federal student financial aids are easier to consolidate since many loans such as the Perkins, PLUS, Stafford, HEAL, SLS,NSL, and other federal educational aids can be consolidated together. On the other hand, you may merge the private student loans by finding the right lenders, such as NextStudent, Student Loan Network, or Chase.

Fixed rate student loans assist you in managing multiple student loans with various interest rates. However, learn carefully about the pros and cons of it prior to consolidating the loans.


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Understanding How Loan Deferment Works: What Every Student Needs To Know

Over 70 percent of all students who go to a college or a technical school will acquire some sort of student loan. That financed amount will need to be paid off within a time frame that often begins immediately after the scholar has graduated from school. Some post-graduates find it hard to obtain a job directly after graduation, making it difficult for them to pay their student loan bills completely and on time. It is also often the case that after working for several years, a detrimental financial situation occurs that makes it difficult for a graduate to keep up with his or her bills. For this very reason it is essential for borrowers to understand how loan deferment works, as well as also having a basic understanding of the requirements of loan deferment for student loans.

The 'Ins And Outs' Of How Loan Deferment Works

It is possible to pause payments on a borrowed amount of student monies without any type of penalty. However, this pause is normally for a restricted amount of time. This method of deferment also does not mean that the loans are eliminated for that particular period, but instead, they are posted to a pre-determined date in the future to resume again.

The only disadvantage to this process is that loan deferment requirements of student loans will apply and interest will continue to compile even after the loan has been postponed. Although there are many advantages to pushing this financial burden on down the road, a compilation of borrowed monies interest can reach an extraordinary amount if a borrower is not careful.

Requirements Of Loan Deferment For Student Loans

There are many ways in which to postpone financial burdens for a graduate to a later and more comfortable date; all of which must fall within the requirements of loan deferment for student loans. Some of these methods include accepting an internship that is qualified, joining the United States Army, Navy or other military services, as well as joining the Peace Corps. There are also situations that cannot be determined, which also fall within the list of acceptable reasons to defer. These select situations may include being laid-off or unemployed. All of these circumstances can potentially qualify an individual for deferment of their borrowed amount of funds to a later date.

Smart Ways To Avoid Deferment Of A Borrowed Amount

There are many ways in which to avoid deferment on a borrowed amount of funds to make sure interest does not pile up, which may lead to larger payment in the future. The most popular method is that of consolidating loans into one lump sum or a single payment each month. In turning to a finance company, a graduate can, in a way, reschedule or reorganize their borrowed amount so that the monthly payments fit more toward their personal financial situation.

By using this method, a graduate can still make payments, depleting their borrowed amount, while also being able to live an affordable and stress-free lifestyle. Another benefit is that interest rates can actually be lowered by means of consolidation, and in the end the borrower will be paying less money than they were before. Understanding how loan deferment works is important. By choosing to explore consolidation options regarding your student loan today, you will likely experience a better and more stable financial future.

In business for over 50 years, Sterling Finance Company specializes in how loan deferment works in Georgia and the requirements of loan deferment for student loans in Georgia. Allow Sterling Finance to offer advice and use their years of experience in loan deferment in Georgia to your favor today!


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Student Debt Consolidation Loan - What You Need to Know

The good thing about fixed rate student loans is that students only need to pay to one lender and the repayment period is longer. This can be achieved by consolidating their existing educational loans. However, debt consolidation also has its share of disadvantages. It is indeed beneficial, but it is not suitable for everyone.

Suppose you have four federal loans and one private loan. Once you have graduated, you are obliged to repay all of the funds you borrow. Indeed, repaying them is not as easy as applying for them. But if you can afford to repay all of your debts with no difficulty, then you do not need to apply for loan consolidation. However, if you are not financially strong, student debt consolidation loan may just be the ideal solution for you.

On the other hand, you should keep in mind that the longer the repayment period, the higher the interest rate. In most cases, the repayment term ranges from 10 to 30 years. During these years, you can cut monthly repayments by 34%. Still, with this method, you will have to pay twice as much in the end.

If you want to consolidate private loans, you should ask the lenders whether or not they provide private consolidation loans. Generally, only federal educational loans such as Perkins, Stafford, HEAL, PLUS, and Direct loans can be merged into one master loan. Yet some lenders make exception to offer private consolidation loans for college students.

By consolidating your loans, you will get fixed rate of interest to pay which is resulted from the weighted average of the interest rates of each of your financial aids. You may end up with a slightly higher or lower consolidation rate of interest since the rate is rounded up to the nearest 1/8 of a percent.

Parents of students can also apply for the student debt consolidation loan. But you need to remember that parents and students cannot merge their loans into one master loan since per 2006, only loans from the same borrower can be consolidated. This regulation also applies to married students; they also cannot combine their loans. To apply for student debt consolidation loan, one will not be charged with any fees. It is totally free of charge. If by chance you come across a program that requires you to pay a certain amount of money when applying the debt consolidation, it might be a scam.

Student debt consolidation loan helps you to combine all your eligible student loans for longer period of repayment within fixed rate student loans. Get more information on consolidation loans by visiting our site.


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