Such loans can fill a funding “gap.” Often such a “gap” is created when a student is awarded a Stafford or Perkins loan, and then realizes that the amount in the loan does not fully cover all of the student’s expenses.
The Lenders of Alternative Student Loans
The lenders of alternative student loans have put their loan applications online. Those applications are for secured loans. The lenders thus seek some “security” when providing a student with loan money.
Students can easily download an application for one of the alternative student loans. Once downloaded, the application can be filled out and sent to the prospective lender. One word of warning: Students should study the details on the alternative student loans before submitting any application.
The lenders of the private, alternative student loans hope to profit from their ability and their willingness to loan money to college students. As a result, they often attach stiff fees to the loan. Those fees are sometimes paid at the time of the loan application.
In other instances, lenders have added those fees to the interest rate for the student’s loan.
Comparing Different Alternative Student Loans
Students who want to compare the offering of the various lenders might feel like they are comparing “apples and oranges.” Students might wonder how a high fee and lower interest compares to a low fee and a higher interest rate.
Students should remember this: a 3% fee is equal to a 1% rise in the interest rate. When keeping those facts in mind, students can better compare the various alternative student loans.
Students might also consider how quickly they can obtain the loan. The Act private loans are fast, and they do no require the completion of a FAFSA. Still, students should take note of the fact that awarding of the Act private loans is based on the applicant’s credit.
Different lenders have different repayment options. The student in need of a loan should study those options. An ideal lender is willing to defer payment until after the student has graduated.
Some lenders, such as Astrive, give student loan recipients an opportunity to refinance any of their alternative student loans.
The Best Time to Go After Alternative Student Loans
Unlike many student loans, the money for the alternative student loans is sent directly to the student, not the institution that he or she is attending. Students are not encouraged to look at alternative student loans as a “first choice,” when searching for a way to pay for a college education.
Not infrequently, a student with a Stafford Loan will “max out” on that loan while still in school. If he or she hopes to continue and finish his or her education, then that student needs to look at the alternative student loans.
Source:-http://ezinearticles.com/?Easy-Alternative-Student-Loans---For-When-No-One-Else-Will-Lend-You&id=735400
Sunday, July 27, 2008
Tuesday, July 22, 2008
Government Student Loan – Easy Way To Finance Your Education
These days, funding one’s higher education has become a very costly task. For many aspiring degree holders, financing the cost of one’s higher education and get through the cost of the loans available for students, is a tough job as well. Government Student Loans, scholarships and grants are available to anyone looking for higher education, whether it is a college diploma, university degree or any other accredited academic certificate.
General information
Student loans are not only used for the tuition but also to pay for school related costs such as paying associations, housing costs and lab fees, stationery and text books. If you are 18 years of age you can apply for a government student loan. During the credit period, you have the option of paying or not paying the interest on the loan. It will become easier if you do make periodical payments to cover the interest of the loan. If you have the opportunity to pay the interest off, the capital repayment once you have graduated becomes easier for you.
Availability and repayment
Using online services can help you find all the necessary information for applying for government student loans online. Expenses not subsidized by Government such as education related expenses or overseas study can be applied for through a private student loan. The loans are reviewed and this process can usually take about a week or two. The repayments of government student loans usually begin six months after graduation. This is referred to as the grace period. Most student loans are deferred for repayment until students have completed their schooling or leave school.
Interest rates
The subsidy in the interest rates are paid by the government as these are government sponsored loans. Hence, the interest rates tend to be pretty low for government student loans. Also, these loans are available for a period of 10 years at most, so the reimbursements of the loans become easier.
Source:- http://www.bestsyndication.com/?q=20080316_government_student_loans.htm
General information
Student loans are not only used for the tuition but also to pay for school related costs such as paying associations, housing costs and lab fees, stationery and text books. If you are 18 years of age you can apply for a government student loan. During the credit period, you have the option of paying or not paying the interest on the loan. It will become easier if you do make periodical payments to cover the interest of the loan. If you have the opportunity to pay the interest off, the capital repayment once you have graduated becomes easier for you.
Availability and repayment
Using online services can help you find all the necessary information for applying for government student loans online. Expenses not subsidized by Government such as education related expenses or overseas study can be applied for through a private student loan. The loans are reviewed and this process can usually take about a week or two. The repayments of government student loans usually begin six months after graduation. This is referred to as the grace period. Most student loans are deferred for repayment until students have completed their schooling or leave school.
Interest rates
The subsidy in the interest rates are paid by the government as these are government sponsored loans. Hence, the interest rates tend to be pretty low for government student loans. Also, these loans are available for a period of 10 years at most, so the reimbursements of the loans become easier.
Source:- http://www.bestsyndication.com/?q=20080316_government_student_loans.htm
Monday, July 14, 2008
Government Student Loans Consolidation - Is it Your Best Option?
Students who are having problems paying off their loans should look into what the federal government has to offer in way of consolidation.
One way to get help with your student loans is to take a government student loans consolidation which is highly beneficial because it is relatively easy to obtain. No credit checks are needed as long as you show proof of graduation. You will also gain good leeway and enjoy low fixed interest rates. And instead of paying separate lenders each month, you only need to pay a lump sum which is collectively lower than all the debts you owe. This means convenience and peace of mind will be yours, knowing that you need not perform multiple monthly repayment every 30 days.
With a world of convenience at your feet, you can effortlessly eliminate emotional stress and concentrate on your studies. If you have been a good borrower and pay your debts in a timely fashion after a student debt consolidation, your good record will help you get better credit rating. Applying for loans later on when you need to buy a car or house will be much easier.
One other vital point to remember. In most cases, students will be accorded a 10-year repayment term if you said yes to a federal student loan. This period can be stretched up to 30 years if you consolidate your student debts. While you are enjoying the lower monthly repayments, the reality is that you will take a longer time to pay off your debts, and will actually incur more interest rates.
The loan also has a deferment option and a 6 months grace period in case you need to take up these options.
In conclusion, do a thorough search online to identify and apply for your government student loans consolidation through your local area provider.
Source : http://ezinearticles.com/?Government-Student-Loans-Consolidation---Is-it-Your-Best-Option?&id=1277931
One way to get help with your student loans is to take a government student loans consolidation which is highly beneficial because it is relatively easy to obtain. No credit checks are needed as long as you show proof of graduation. You will also gain good leeway and enjoy low fixed interest rates. And instead of paying separate lenders each month, you only need to pay a lump sum which is collectively lower than all the debts you owe. This means convenience and peace of mind will be yours, knowing that you need not perform multiple monthly repayment every 30 days.
With a world of convenience at your feet, you can effortlessly eliminate emotional stress and concentrate on your studies. If you have been a good borrower and pay your debts in a timely fashion after a student debt consolidation, your good record will help you get better credit rating. Applying for loans later on when you need to buy a car or house will be much easier.
One other vital point to remember. In most cases, students will be accorded a 10-year repayment term if you said yes to a federal student loan. This period can be stretched up to 30 years if you consolidate your student debts. While you are enjoying the lower monthly repayments, the reality is that you will take a longer time to pay off your debts, and will actually incur more interest rates.
The loan also has a deferment option and a 6 months grace period in case you need to take up these options.
In conclusion, do a thorough search online to identify and apply for your government student loans consolidation through your local area provider.
Source : http://ezinearticles.com/?Government-Student-Loans-Consolidation---Is-it-Your-Best-Option?&id=1277931
Monday, July 7, 2008
Are there Bad Credit Student Loans? Is Approval Feasible?
Many inquiries made to financial advisors on our team have a common issue: bad credit and student loan approval. People who want to pursue a career to improve their life and financial situation might fear that they cannot get approved for financing due to their bad credit score and history. The availability of bad credit student loans is not widespread and thus people often wonder if they exist and if approval is feasible or there are extremely onerous requirements for approval.
Federal or Private Financing
There are federal student loans that are not based on the applicant’s credit score and history but on the merits or the needs. Therefore, those with bad credit can obtain federal funds if they meet the requirements for these loans.
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But the average applicant will not be able to get approved for federal funding and for federal subsidized private loans because these loans are based on credit assessment.
Private funding has similar issues: all private student loans are based on credit verifications and thus, there are limitations for those with bad credit. And even though there are private student loans provided to those going through underprivileged situations and for those that show special merits on certain fields of interest (loans provided by non profit institutions), the average applicant cannot access these loans.
But private funding always finds a way to provide a product when there is a need and thus, there are bad credit student loans available for those with bad credit, no credit and past bankruptcies. The drawback is obviously the interest rate charged for these loans and the lack of deferment that most of these loans have. There are very few private student loans for bad credit applicants with deferment till after graduation.
Bad Credit Private Student Loans
These loans are provided for those with bad credit who need to finance college studies. The amounts offered are not that high and can help you finance only a couple of years of college studies but unlike federal funding you can use the funds for any college costs including tuition, accommodation, transportation, studying material, laptop, etc. There are no limitations when it comes to the use of the funds as long as they are college related.
Another issue with bad credit private student loans is that only a few of them provide funds with deferment of the loan repayment till after graduation. Thus, the applicant needs to have a source of funds in order to afford the monthly installments. If the applicant has a limited income it is possible to apply with the aid of a co-signer in order to obtain approval and also to boost the chances of getting better terms on your student loans.
Where to Get Them?
Private student funding can be obtained through the student affairs departments of each institution and you can also obtain them by applying online. There are many online student loan lenders offering bad credit loans for financing college studies and there are also sites offering comparatives so you can choose the best option for you.
Source:http://www.bestsyndication.com/?q=20080611_bad_credit_student_loans.htm
Federal or Private Financing
There are federal student loans that are not based on the applicant’s credit score and history but on the merits or the needs. Therefore, those with bad credit can obtain federal funds if they meet the requirements for these loans.
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Comfort Inn null
But the average applicant will not be able to get approved for federal funding and for federal subsidized private loans because these loans are based on credit assessment.
Private funding has similar issues: all private student loans are based on credit verifications and thus, there are limitations for those with bad credit. And even though there are private student loans provided to those going through underprivileged situations and for those that show special merits on certain fields of interest (loans provided by non profit institutions), the average applicant cannot access these loans.
But private funding always finds a way to provide a product when there is a need and thus, there are bad credit student loans available for those with bad credit, no credit and past bankruptcies. The drawback is obviously the interest rate charged for these loans and the lack of deferment that most of these loans have. There are very few private student loans for bad credit applicants with deferment till after graduation.
Bad Credit Private Student Loans
These loans are provided for those with bad credit who need to finance college studies. The amounts offered are not that high and can help you finance only a couple of years of college studies but unlike federal funding you can use the funds for any college costs including tuition, accommodation, transportation, studying material, laptop, etc. There are no limitations when it comes to the use of the funds as long as they are college related.
Another issue with bad credit private student loans is that only a few of them provide funds with deferment of the loan repayment till after graduation. Thus, the applicant needs to have a source of funds in order to afford the monthly installments. If the applicant has a limited income it is possible to apply with the aid of a co-signer in order to obtain approval and also to boost the chances of getting better terms on your student loans.
Where to Get Them?
Private student funding can be obtained through the student affairs departments of each institution and you can also obtain them by applying online. There are many online student loan lenders offering bad credit loans for financing college studies and there are also sites offering comparatives so you can choose the best option for you.
Source:http://www.bestsyndication.com/?q=20080611_bad_credit_student_loans.htm
Monday, June 30, 2008
Local Affordable College
Budget-friendly Eastern offers college within family’s reach
With food and fuel prices leading the assault, the family budget is taking heavy fire from all sides these days. And almost everywhere, the rise in college costs — a relentless foe in the battle to make ends meet — continues to launch torpedoes.
“College-cost inflation has been running around 5-percent to 8-percent a year, more than double the average inflation rate in recent years,” the Kiplinger Personal Finance Magazine reported earlier this year.
To make matters worse, the current turmoil in the credit industry is leading some banks to cut back the number of college loans they make to students — and this at a time when the Department of Education estimates that “about 80 percent of the fastest-growing jobs will require at least two years of college.”
Amidst this “perfect storm” of soaring costs and shrinking credit, a local community college remains committed to providing quality college learning at an affordable price. “We offer one of the lowest in-state tuition rates of any public college or university in West Virginia,” said Amanda Sites, director of Financial Aid at Eastern West Virginia Community and Technical College. “So even learners who wish to transfer later for a four-year degree can save a lot on tuition and other expenses by starting college near home at Eastern.”
For those who might need financial aid, the college partners with American Education Services. “They guarantee the loans for banks that assist our students and make Eastern a safe student loan market,” Sites said.
She also pointed to a new family-friendly scholarship that actively recruits adult learners who have been away from formal schooling for some while.
“Eastern’s Scholarship for Non-Traditional Students seeks adult learners, 24 years old or older, who have a high school diploma or GED, and who plan to attend Eastern on at least a half-time enrollment basis,” Sites said. The scholarship covers tuition and other attendance fees for up to one academic year.
Source:http://www.times-news.com/local/local_story_180234353.html
With food and fuel prices leading the assault, the family budget is taking heavy fire from all sides these days. And almost everywhere, the rise in college costs — a relentless foe in the battle to make ends meet — continues to launch torpedoes.
“College-cost inflation has been running around 5-percent to 8-percent a year, more than double the average inflation rate in recent years,” the Kiplinger Personal Finance Magazine reported earlier this year.
To make matters worse, the current turmoil in the credit industry is leading some banks to cut back the number of college loans they make to students — and this at a time when the Department of Education estimates that “about 80 percent of the fastest-growing jobs will require at least two years of college.”
Amidst this “perfect storm” of soaring costs and shrinking credit, a local community college remains committed to providing quality college learning at an affordable price. “We offer one of the lowest in-state tuition rates of any public college or university in West Virginia,” said Amanda Sites, director of Financial Aid at Eastern West Virginia Community and Technical College. “So even learners who wish to transfer later for a four-year degree can save a lot on tuition and other expenses by starting college near home at Eastern.”
For those who might need financial aid, the college partners with American Education Services. “They guarantee the loans for banks that assist our students and make Eastern a safe student loan market,” Sites said.
She also pointed to a new family-friendly scholarship that actively recruits adult learners who have been away from formal schooling for some while.
“Eastern’s Scholarship for Non-Traditional Students seeks adult learners, 24 years old or older, who have a high school diploma or GED, and who plan to attend Eastern on at least a half-time enrollment basis,” Sites said. The scholarship covers tuition and other attendance fees for up to one academic year.
Source:http://www.times-news.com/local/local_story_180234353.html
Monday, June 23, 2008
Student Loans with No Credit History
A good credit history is an essential prerequisite for applying for a student loan. A student with a good credit history always stands in good stead to qualify himself for a student loan. So, it is always advisable that students who go for loans keep their credit within limits.
Many lenders provide loans to students with no credit history. There are two types of student loans namely, federal student loans and private student loans. The former are backed by the US government (coming under the department of education?s federal student aid programs) and are approved based on the financial need of the student, whereas the latter are considered as personal consumer loans. Refinancing of federal student loans is possible at far lower interest rates than private loans. Private student loans are approved after checking the credit history of a student or his parents.
Usually, a student loan with no credit history does not require any income or a co-signer. But this is sanctioned only for a small credit limit. To get larger credit limit, the help of a co-signer is essential. Before taking student loans with no credit history, compare the interest rates and the fees from different lenders. You can get student loans applying online also. The documents needed include proof of your identity, and your place of employment. It is better to look for loans based on your job history. It is advisable to have a thorough check on the terms and conditions of a student loan before signing the deal.
Source:http://ezinearticles.com/?Student-Loans-with-No-Credit-History&id=353189
Many lenders provide loans to students with no credit history. There are two types of student loans namely, federal student loans and private student loans. The former are backed by the US government (coming under the department of education?s federal student aid programs) and are approved based on the financial need of the student, whereas the latter are considered as personal consumer loans. Refinancing of federal student loans is possible at far lower interest rates than private loans. Private student loans are approved after checking the credit history of a student or his parents.
Usually, a student loan with no credit history does not require any income or a co-signer. But this is sanctioned only for a small credit limit. To get larger credit limit, the help of a co-signer is essential. Before taking student loans with no credit history, compare the interest rates and the fees from different lenders. You can get student loans applying online also. The documents needed include proof of your identity, and your place of employment. It is better to look for loans based on your job history. It is advisable to have a thorough check on the terms and conditions of a student loan before signing the deal.
Source:http://ezinearticles.com/?Student-Loans-with-No-Credit-History&id=353189
Monday, June 16, 2008
Student loans money saving tips
Every year a new set of students begin their higher education, at this time many will take out a student loan to assist them financially over the term of their course.
At the time of taking out a student loan you are properly not thinking about how to save money or make your loan last longer, but there are a few tips to help you try and keep the level of debt you get into down.
A huge way to cut costs is to avoid eating out, a recent study showed just buying a sandwich and a drink can cost around £5.00, totalling a staggering £1,200 a year. The study also revealed students living in close proximately to their university still paid for bus fare, walking or cycling can save you a packet and also keep you fit.
A spokesman for students commented whilst student debt is unavoidable, the level of debt can be dramatically reduced by simple saving techniques and a little effort, many students now work part time to earn a bit more cash and also meet new people.
source:http://www.onlyfinance.com/Loans-News/12753334-Student-loans-money-saving-tips.aspx
At the time of taking out a student loan you are properly not thinking about how to save money or make your loan last longer, but there are a few tips to help you try and keep the level of debt you get into down.
A huge way to cut costs is to avoid eating out, a recent study showed just buying a sandwich and a drink can cost around £5.00, totalling a staggering £1,200 a year. The study also revealed students living in close proximately to their university still paid for bus fare, walking or cycling can save you a packet and also keep you fit.
A spokesman for students commented whilst student debt is unavoidable, the level of debt can be dramatically reduced by simple saving techniques and a little effort, many students now work part time to earn a bit more cash and also meet new people.
source:http://www.onlyfinance.com/Loans-News/12753334-Student-loans-money-saving-tips.aspx
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