Easy Ways to Save Money on Your College Education

Spend 5 minutes reading this and it WILL save you thousands on school and save countless headaches.

First financial aid is the broad term given to "how you finance college" and it falls into 3 categories Free money, Uncle Sam, and Private money. The goal is to maximize the first two while at the same time doing the most important thing of all... Keep your costs down! There are many practical ways to do this which will make a huge difference in the amount that you pay for your degree!. lets start with, keeping costs down because If you take one thing away from this I want to be this.. The easiest way to reduce the cost of college is to reduce the tuition. How you do this is very simple; get as many credits in ways other than paying tuition at a 4 year university, and there are several ways to do this

Community College- Tuition is a fraction of that of a university and in some states such as California Free and you may be able to live at home. Yes, you sacrifice the freshman experience but you will be happy when you are buying a house years before your friends.

CLEP Classes- This is taking a test that covers the content of a required class and if you pass you get the credits. Most universities have a limit on the number of classes you may CLEP but you should do the maximum. CLEP'ing a class costs around $250, whereas a class at a university easily costs 5 times that.

AP Classes- These are high school classes that prepare you for a test, that if you pass you get college credit for the class.

The next easiest way to save is on books. You should attempt to check out the text book for upcoming classes before the semester starts! If you can not do that you can rent books online from retailers like ecampus.com. If you do buy, buy online and sell back any books you know you wont ever read again, which will be most of them.

OK, so you have reduced the cost and now it is time to look at paying what you have to. The first thing you want to do is file the FAFSA early, as close to Jan 1 as possible. You can estimate your taxes and if they come out substantially different update your FAFSA later, but filing early ensures you make yourself eligible for as many grants and scholarships as possible. the next thing you want to do is max out your subsidized Stafford loan. There is 0 interest on this during school. After you have taken the max on Stafford if you still are short. Go to your financial aid office, they may have programs which are only available to students when they max out the Stafford. Finally, if it comes to taking a private loan, take as little as possible and pay it off fast.

I hope these tips help you save on your education!

Brooks Kelley
President
American College Lending
http://www.amcollegeloan.com/

Original article

Student Loans for Bad Credit Borrowers - Where to Get the Money for College

The state of the job market in this second decade of the 21st century has led many adults back to the classroom. Chronic unemployment often emphasizes the need for a retraining and reevaluation of one's credentials in the workplace. However, making the decision to go back to school is often the easiest step in the process of actually earning your degree. In many cases, the hardest part is finding the money to afford the degree in the first place. For those with bad credit, this problem is all the more complex. Student loans are often available, but sorting out what is what and which is the best choice can be a rough task.

Free Options First

If you are serious about going back to school and have the time to dedicate to full time studies, there are often grants and scholarships that can support that desire. Especially in high-needs fields such as healthcare and science, private companies, organizations and the schools themselves offer options in terms of scholarship and grant financing. One of the first steps that you should take once you have determined your educational path is to look into scholarships offered both through the school (contact the Financial Aid office) and through private means (you can do an internet search for scholarships).

Another excellent choice, especially for those looking to pursue graduate study, is to look into work-study or assistantship opportunities. Often, colleges offer research assistantships and teaching assistantships to graduate students which will cover the cost of their tuition as well as offer valuable experience working in the field of your degree. None of these funding options take credit into account since you do not need to pay the money back.

Federal Money Is Most Affordable

Once you have discovered which scholarships, grants and assistantships you qualify for, the next step is looking at low-cost student loan money. The federal government has several options available to all students which takes need, rather than bad credit, into consideration.

The first among these choices is the Stafford Loan program. Stafford Loans are offered to all qualifying students and come in both Subsidized (where there is no interest until you are out of school) and Unsubsidized (interest starts to accrue immediately) options. Both types of Stafford loans come with a low, fixed interest rate that is insured by the federal government. That means no matter which private bank gives you the loan, they must conform to the government's interest rate. The other great benefit of Stafford Loans is deferred repayment. That is, you do not need to repay a dime of that money until six months after you are out of school. This allows you time to find a job that will aid in your timely repayment of the Stafford Loan.

The federal government also offers Perkins Loans, PLUS Loans and Pell Grants which are more difficult to qualify for in terms of need, but also come with low interest rates. None of these options require a credit check, making them the perfect student loan solution for those with bad credit.

Private Lenders Can Help Too

The final source of bad credit lending for college is through private lenders who specialize in this field. In this case, a credit check will be required, but the use of the money for educational purposes generally allows the rules in terms of credit score to be let up a bit. A bad credit rating will make for higher interest rates through private lenders, which is why this is a last resort, but there are many programs out there that can work with you and help you to meet your needs in an affordable manner, despite your bad credit.

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

Original article

College Money With No Cosigner - Student Loans Are Available

Trying to afford a college education in the 21st century is not easy. We are in a depressed economic time which simultaneously makes college a necessity for getting a secure job while making affording that education nearly impossible. The worst part about this is that the tuition costs for every school from community colleges up to Harvard just keep rising.

Potential college students who lack personal savings or a family with the means to help finance an education traditionally need to turn to student loans. However, these loans are hard to obtain for some people who have bad credit and no cosigner. Student loans are available, however, if you know where to look.

Government Option

The most popular way to finance a college education with no cosigner on your student loan is through government-sponsored programs. Many people have heard of Stafford Loans and Perkins Loans, which are those offered by the federal government to help pay for college. You apply for federal money through your college's Financial Aid Office. These student loans offer some distinct advantages:

1) No Cosigner Required - many private lenders will ask you to find a cosigner on your student loan, especially if you have bad credit. Government loans do not require this.

2) Credit Is Less Important - the government's standards for issuing student loans are much more relaxed than most private lenders. They may not even require a credit check and if they do, they are generally much less strict as to what qualifies as acceptable credit.

3) Delayed Repayment - the number one benefit of most government-sponsored student loans is that you do not need to make immediate repayment on them. Instead, you begin to pay for them only after graduation. Some loans, such as Subsidized Stafford Loans, do not even accumulate interest as long as you are in school full time.

The best way to figure out which government-sponsored student loans are right for you is through contacting your school of choice. There are several educational lending professionals there that will help you determine what you need and what you can get.

Going to Private Lenders

Once you have exhausted your options in terms of government loans, there are still other ways to get the money you need to pay for school. Several online alternative lenders specialize in granting educational loans and other bad credit lending solutions that you can use to meet your school payment requirements. However, there are some key differences between private lenders and the government:

1) Immediate Repayment - since the private loan that you take does not have government subsidization, it is likely that you will begin to make payments on your tuition money immediately. However, even a part time job can suffice in terms of the monthly payment needed. Some lenders may even work out that you only need to pay interest charges as long as you are still in school.

2) Credit Is More Important - when working with private lenders, your credit history will be more important than with the government. Though many lenders do offer bad credit college loans, you will need to be prepared to pay slightly higher interest rates due to your poor credit in the past.

3) Cosigner May Be Required - in the event that you cannot qualify for a college loan on your own, many private lenders will ask you to find a qualified cosigner. Often a parent or older relative with a stable job is a good candidate.

You Can Go to College

Even though the prospect of finding several thousand dollars to finance a college degree can seem impossible to you now, it is by no means that way. There are options for funding your college education, even with no cosigner. Student loans are available in many shapes and forms. You just need to know where to look.

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

Original article

Perkins Loan Facts: Get Money With Bad Credit, No Credit or a Low Income

Many people these days are interested in returning to school, but are concerned that low income and bad credit or no credit score will prevent them from finding the financing they need to afford this endeavor. However, as many also know, completing the Free Application for Federal Student Aid (also called a FAFSA) can help you to find sources of funding through the federal government which offer low, fixed interest rates and flexible repayment plans. One such option that you get through the FAFSA is Perkins loans.

For bad credit, no credit or low income situations, Perkins loans offer the perfect option for funding. This is because these loans are given based on need, not on credit score. The article will review some basic facts about Perkins loans.

Filing Your FAFSA: The Basic Process

Generally, you are asked to complete a FAFSA at the same time that you apply to college. When you complete your FAFSA form, there are several different factors that will go into determining your eligibility for federally-sponsored student loans such as Perkins loans. With bad credit, no credit and a low income, you are actually more likely to receive funding for school. This is because the factors taken into consideration on the FAFSA and the Student Aid Report (SAR) that it produces are based on need only. The FAFSA formula will look at income, assets, dependents and schooling costs to determine how much aid you qualify to receive.

Qualifying for Perkins Loans

Bad credit, no credit, and a low income are clearly not at all issues when it comes to assessing a student's ability to receive a Perkins loan. In fact, the lower your income from other sources - which includes your expected family contribution (EFC) or money from parents - the more likely you are to receive Perkins loan funding.

Perkins loans are capped, which means that you can only receive a fixed amount each year and that amount varies from person to person. In 2010, the maximum Perkins loan contribution allowed for undergraduates was $5,500. However, the average amount of money given to each student through the Perkins student loan program was only $2,125 that year. This means that there will still be a need for you to find additional funding through other lending sources. You can do this either through other federal lending programs, such as Stafford Loans, or you may alternately look for private lenders who offer low interest student loans.

Bad Credit, No Credit or a Low Income Is Still Okay

No matter which path you choose for finding the educational funding you need, having bad credit, no credit and a low income is still okay. This is because the assessment given for borrowers looking for money to fund higher education is far different than the assessment given for borrowers looking for personal loans. Seeking a higher education is an important step in gaining more wealth over time. Therefore, lenders feel that the risk of helping you achieve a better education and job is worth the investment. Programs sponsored by the federal government were designed to help people like you.

Perkins loans for bad credit, no credit and low income borrowers are the norm, rather than the other way around. This makes using this particular form of funding not only an option, but one of the best choices available to students today.

Joycelyn Crawford is the author of this article. For more information about Easy Loans for Bad Credit and Easy Home Equity Loan please visit EasyLoanForYou.com

Original article

Grants For College - How To Find Free Money To Pay For College

The purpose of college grants is very simply to help needy students afford to go to college. Students seeking grant money for college need to focus their personal search on the exact type of grant that will help further their goals, and grants that they actually qualify for to help them go to college.

Although not always an easy task, the search for college grants is indeed still a worthwhile endeavor.

Why Search For Grants?

Common sources where you might score grant funding include public civic organizations, private foundations, federal and state government agencies, college donors, and miscellaneous sources in your own local community.

Reasons for student aid are obvious -- not everyone has the means to pay for their college degree without some form of student assistance. College is expensive. Add to your potential college grants a mixture of personal savings, income from working a part-time job, self-employment or borrowing money in the form of costly student loans, and you should be able to find a way to pay for college.

The staggering cost of private, four-year colleges has put a strain on those seeking a higher education after high school. Many colleges and universities think nothing of charging $10,000 or more per semester.

Add to this the fact that rates of college tuition increases keep growing much faster than the rate of inflation, and the sad fact that they are fully expected to keep rising in the near future, and you will understand the dire need to uncover free money for college.

Grants For College -- How They Differ From Student Loans, Scholarships

Grants differ from scholarships and student loans is some very basic ways. Grants are actually free money you get to use to attend a college or university and pursue a specialized degree. Where student loans need to be repaid, grants are yours to use for tuition, fees, books, living expenses, you name it.

Grants are usually based on your actual financial need, as compared to scholarships, which are based on your grade point average or your past merits or career achievements and are awarded by civic organizations.

How To Locate The Best College Grants

Seeking out college grants takes time, dedication, persistence and knowledge. Grants are most often categorized by major headings such as:
Student-specific GrantsSubject Matter-specific GrantsCareer-specific GrantsDegree GoalsMinority BackgroundGender

While the final category, "Gender", may seem discriminatory, that is not the case. Some organizations specifically target their grants toward women, to help level the playing field in financial aid for female students.

The most commonly known grants are the FAFSA -- the Free Application For Federal Student Aid. Uncle Sam wants you to go to school, and enhancements to the FAFSA program have been immense. Most of the work can get completed online. It is quite simple to seek out, apply and qualify for the FAFSA federal grants program or at our website, FindHow2.com.

In any event, finding grants for college is well worth the time and effort you put into it, and grants remain a solid portion of college aid.

Steve Johnson is a writer who founded FindHow2.com, offering free, helpful articles on credit repair, credit card debt reduction, and personal financial management, plus "how-to" informative articles on a wide variety of topics. One of the most popular topics at FindHow2.com includes a free listing of the programs to get student loans excused.

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