Now is the time to cover how you are going to get through college, so there for you might need to know how to get a student loan if you cannot get approved for any type of scholarships or federal grants. Student loans are becoming one of the biggest debt creators in the United States, but if you take your time you can you should not have a problem trying to get a student loan, even if you do have bad or no credit do not worry, chances are you can still get a student loan.
One thing that you have to take into consideration is that the average undergraduate will owe about 20 grand in student loans. Other types of school degrees may be up in the $100,000 range, if you are able to get a student loan for that amount it is. Another good tip that is recommended by various sources is that you should try and get a student loan for 125% of what you think that you may need.
By doing this you can save yourself a lot of hassle if the initial student loan is not enough to cover all of your expenses throughout your years that you are in college. Now back to getting a student loan in the first place. This is assuming that you have already applied for federal financial aid and there is no way that you can get any type of scholarship, which would save you the most money in the long run if you think about it.
Make sure that you sit down with many lenders when you are getting interviewed for a student loan. Do not think that just because the college you are applying for recommends someone that that is the best lender to be borrowing money from. This is not true.
Out of all the lenders that you can get student loans from, you should make sure to get on the phone with some of the bigger companies that are out their providing students with financial assistance, such as Sallie Mae and Chase, along with a bunch of others. Many times the bigger companies will be able to give you lower interest rates than some of the smaller guys, but this is not always true at the same time. The only way to find out is to see as many lenders as you possibly can. Set up interviews until your head explodes. Probably one of the best ways that you can find the best deals on getting a student loan and avoiding one of the biggest debt crisis’s in America.
Taking out a student loan is one way that can get you into some serious debt, especially if you are going to a profession that is going to cost you a lot of money to borrow, such as being a doctor or a dentist. This is not the only way that you can get your kids through college though. This is where federal financial aid can come into play. If you think that you might be interested in getting federal student aid then you should stop by their website. The name of the website is called FAFSA. [click to continue…]
Hopefully if you are reading this you have been paying your student loans on time and are trying to stay away from the student loan default status. If you have been deemed in the default status, there is no need to worry right away, but you should take immediate action to clear up any misunderstandings from you and your lender. Student loans will usually go into the default status if payments are missed for over 270 days. Now in my book that is a long time to not be paying back a loan, and if you are in some sort of trouble financially, the first thing that you need to do is contact your lender. [click to continue…]
I am sure that you have heard it before if you are paying on student loans, that if you consolidate your loans together, you can get a lower monthly payment, and on top of that you only have one loan to worry about instead of 10.
Not only that, the interest rates on student loan consolidations will rarely exceed 8%, which will save you a lot of money in the long run as most student loans have interests rates that are through the roof. Let’s go over a few other benefits that you can get when you decide to consolidate your student loan.
You also get the choice to pay in advance off your loan whenever you feel, without having to worry about being penalized. This is a major plus if you are trying to get rid of the headache of paying back the student loan for the next 40 years. [click to continue…]
Here I will be explaining student consolidation loans, now why would one want to consolidate a student loan? There are many reasons behind this, and the main one would be overall you are going to be paying back less. When you have a bunch of loans, by consolidating them you can put them all together in one monthly payment, that is really the gist of it. By doing this you are saving money in the long run because you are only going to be paying one loan, which is going to lower the interest on all of your other loans compared to if you were paying them back one by one.
Another benefit of consolidating your loan, besides possibly locking in a low interest rate for the remaining ten or so years remaining, is that you will only be dealing with one company, or lender for that matter. No more worrying about late payment over a variety of lenders. Of course you still have to worry about late payments but it makes it a little bit easier to pay back when there is only one company that you have to pay. [click to continue…]
Every parent out there wants their kids go to school, not only that they want their kids to further their education and go to a college. There are a good number of kids these days that get through college by student loans. But there are other ways that you can get your kid through school without having to get a student loan. Let’s forget about student loans for a minute and discuss scholarships, which in many cases can be combined with student loans.
The first type of scholarship that I am going to cover is the athletic scholarship. Athletic scholarships are very common in the United States ranging from just about any sport that you can think of. Such sports as basketball and football actually have their own scouts that do nothing but try and find the best talent out of all the highschools in the country. [click to continue…]
So you are a student going to college for the first time and you are finally away from mom and dads house. But you will need a way to get around. You got your student loan for the next 4 years and you will be probably paying that off for quite some time until you can finally get into your career. But you still have to get around, especially if you don’t live on campus or live far from it.
This is where student car loans come into play. There are hundreds of companies that are out there that specialize in student car loans. They know that you just coming out of high school are not going to have any credit. So why would they sell a car to a kid with no credit? [click to continue…]