Tuesday, November 11, 2008

SCHOOL LOANS

SCHOOL LOANS are often referred to as Federal Stafford loans, though there are now many different loan types out there, such as private student loans. A Stafford loan sometimes does not always cover all college expenses. It is a loan traditionally put toward tuition. Financing the total costs of college today is completed with private school loans if your Federal aid doesn't cover all college expenses. In our finance guide we only feature established, well known lenders such as Chase student loans and ACT Education loan.

Private Student Loans
Editor's choice for SEPTEMBER 2008:

Chase Private Student Loans - Need money for school expenses not covered by federal loans or other aid?  You could get a private student loan from $1,000 to $40,000 per academic year for such items as
• Tuition
• Room and Board
• Computer
• Books
• Other college expenses
Click here for more information from Chase.

As you determine the best way to finance your education, you should consider the full range of student financial aid options available.
Private student loans, like the Chase Private Student Loan, can be used when federal loans, grants and other forms of financial aid are not sufficient to cover the full cost of education.


School Loans Article

What Are Student Loans?

There are many things that you can accomplish simply by being educated. Going to college is one of the most important things that you can do, because it will allow you to have a much brighter future. When you are looking at college, however, it might be expensive. This is where student loans come in. With  a school loan you can pay for your school in full right at the time that you are going. You don’t have to worry about making enough money to pay for each semester, and you also don't have to worry that you aren't making enough to make ends meet while you are at school and can focus more on your studies. You can use your student loans to pay for your tuition, and also to pay for any other education expenses that might come up while you are at school.

Many Types

There are also many types of student loans that you can choose from. There are student loans in large amounts and student loans in small amounts. There are also going to be Government student loans as well as private student loans. You can pick and choose the types of student loans that meet your needs during all of your education. This can be a great way for you to be able to get fully educated, without having to worry about paying for it right at that moment.

One of the best parts about college student loans is that you don't have to pay back the loans until you are finished with school. You can keep taking out student loans while you are in school to cover the costs of going to college. You can also have an extra 6 months after you graduate in order to pay back your student loans. This is a great way for you to be able to pay back your student loans, and because of this you will be able to put your finances in order as you go through your school career.

If you are interested in learning more about school loans, there are many places that will give you information. One of the best places is www.fasa.ed.gov , which is a website from the DOE that can give you lots of good information about the various types of Federal student loans, how to apply for them, and what you should do once you have.
 
WE ARE HERE TO HELP INFORM YOU…

To insure you have the most up to date material and fit you with the right loan program.

A Stafford loan is made available to students from the US Government and managed through many different private banking institutions. These student loans are: "Subsidized <or> Unsubsidized"

By definition a subsidized loan is granted based on financial need. Interest will not be charged before you begin repaying your loan or during periods of authorized deferment. The US Government subsidizes the interest during these periods of time.

An unsubsidized loan is not awarded on the basis of need and you will be charged interest from the time the loan is issued and until it is repaid in full.

A very helpful resource is the US Department of Education. Their is website locate at: www.studentaid.ed.gov

If you allow the interest to accrue (accumulate) while you are not obligated to repay the loan, it will be capitalized – that is, interest will be added to the principal amount of the loan, and additional interest will be determined on the higher amount. This means your repayment amount increases and if you choose to repay the interest as you go along you will repay less in the long run.

Getting a Direct Student Loan

There are many ways that you can pay for school today. One of these ways is through a direct student loan. With a direct student loan, you will be able to pay for school, and you will also be able to wait until you are done with school to pay back the direct student loan. This will allow you to have enough time to make the money that you need to pay back your direct student loan. This is something that attracts people to the direct student loan. They will be able to get the most out of their schooling without having to worry about paying for it right at that moment. They will also be able to know that they don't have to worry about paying back their direct student loan until they have finished school and had a job that can pay for it.

What Are They

A direct student loan is the same as a regular loan when it is private. You will apply for the direct student loan through the government, your school, or another organization. You can even apply for a direct student loan through a bank. No matter what way you choose to apply for your direct student loan you will be able to apply for the amount of money that you need to make your school payments. You can also apply for this money for each semester, which will allow you to be able to pay for all of your school before you have to pay back the direct student loan. After you have applied for your direct student loan, the school will have to certify the direct loan and that you are actually a student there. Then, you can get the money that you need to pay for school.

This is a great method of paying for school because you will be able to take the money that you need and use it for school. You can also get a direct student loan that has extra funds in it – funds that can allow you to do things like pay rent, pay for your books and supplies, and live on while you are in school.

 

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