College Loan Options

Education Loans Come in Many Shapes and Sizes

• 54 percent of all financial aid comes in the form of loans.
• Some loans are need-based—meaning that they're awarded when the family demonstrates financial need.
• Other education loans are not need-based. Instead, they're designed to help pay the family share of costs.

Some Advice

Need-based loans tend to have better terms, so you should consider those loans first.

Student Loans

There are four main types of college student loans:

Private student loans : A number of lenders and other financial institutions offer private education loans to students. These loans are not subsidized and usually carry a higher interest rate than the federal need-based loans. The College Board private loan program is an example of a private education loan for students.

College-sponsored loans : Some colleges have their own loan funds. Interest rates may be lower than federal student college loans. Read the college's financial aid information.

Other loans : Besides setting up scholarships, some private organizations and foundations have loan programs as well. Borrowing terms may be quite favorable. You can use Scholarship Search to find these.

source : http://www.collegeboard.com/student/pay/loan-center/433.html

College Loans Legislation

Missouri's college loan authority would gain new powers to make loans to families of K-12 students under legislation passed by the Senate on Wednesday night.

The Missouri Higher Education Loan Authority already can make loans to the families of high school juniors and seniors enrolled in college credit courses, though the agency has not been doing so, said Quentin Wilson, the agency's associate director for access and success.

The bill by Sen. Gary Nodler, R-Joplin, would allow loans to be made for any elementary and secondary student, regardless of whether they are enrolled in college credit courses.

It also gives MOHELA authority to create or fund college preparatory programs, which generally provide guidance to middle, junior or senior high students interested in later going to college.

source : http://www.cheapcollegeloans.co.uk/

College loans or student loans ?

Are you going to a graduate school or college ? You can have a lot of things to consider besides studying for GRE/GMAT and choosing the right location and area of study that will definitely determine the remainder of one's life. Additionally you have to be sure that you don't fall to far into the debt after your college. Thats why, one must research for college student loans. One of the best ways to save money is student loan consolidation as it only requires to pay the loans back in small amounts or EMI. One can also look into college loans and private student loans.

If you have a college loan, a borrower may take out more money but it will have to pay it at a higher rate.

source: http://loansonline.blog.co.uk/2007/03/12/college_loans_or_student_loans~1889145

Student loan consolidation

With the vote now in the hands of the Senate and expected any time, students can make their voices heard and ask their senators to do the right thing and repeal the single lender rule. Here’s why:

Currently, the way the bill stands, students do not have that many choices. Firstly, college student loans have to go through the Department of Education. Because students are prohibited from using other lenders for student loan consolidation, for years they can be stuck with one lender that does not offer advantageous benefits. With the single lender rule in place, student loan consolidation also is unavailable to students along with the benefits of that program.

If the Senate does approve the bill, elimination of the college loans single lender rule would not take place until July 1. The Senate now can make changes to the reauthorization bill; if any changes are made the bill is sent back to the House for approval.

source : http://www.1888articles.com/students-should-ask-senators-to-eliminate-single-lender-rule-05s7rx315h.html