A student loan varies a lot from that of a scholarship and grant. It is something which a student has to pay back after completion of his/her education with interest according to the terms of interest. A student can choose from various kinds of available Student Loans such as Private Students Loans, Stafford Students and Federal Students Loans.
A Federal Stafford Students’ Loan is of two types. One is subsidized and the other which is unsubsidized. Subsidized student loan requires the individual student to repay the amount of the loan provided while he/she is still attending University or college classes.
This is another kind of loan which students refer to as the Federal Direct Loan. Students in the UK can easily borrow such loans from the respective college’s financial aid office, rather than having to borrow the loan from banks.
source : http://www.loansnmortgages.co.uk/student_loans.htm
Monday, April 23, 2007
Wednesday, April 18, 2007
Lenders Sought Edge Against U.S. in Student Loans
In a fierce contest to control the student loan market, the nation’s banks and lenders have for years waged a successful campaign to limit a federal program that was intended to make borrowing less costly by having the government provide loans directly to students.
he companies have offered money to universities to pull out of the federal direct student loans program, which was championed by the Clinton administration. They went to court to keep the direct program from becoming more competitive. And they benefited from oversight so lax that the Education Department’s assistant inspector general in 2003 called for tightened regulation of lender dealings with universities.
For example, Sallie Mae, the nation’s largest student lender, offered $3 million that the university could use for “opportunity loans” to some students if it left the direct loan program. Indiana left the direct loan program but said the $3 million was not the reason; Sallie Mae currently administers their loan program.
source : http://www.nytimes.com/2007/04/15/education/15direct.html?_r=1&oref=slogin
he companies have offered money to universities to pull out of the federal direct student loans program, which was championed by the Clinton administration. They went to court to keep the direct program from becoming more competitive. And they benefited from oversight so lax that the Education Department’s assistant inspector general in 2003 called for tightened regulation of lender dealings with universities.
For example, Sallie Mae, the nation’s largest student lender, offered $3 million that the university could use for “opportunity loans” to some students if it left the direct loan program. Indiana left the direct loan program but said the $3 million was not the reason; Sallie Mae currently administers their loan program.
source : http://www.nytimes.com/2007/04/15/education/15direct.html?_r=1&oref=slogin
Monday, April 9, 2007
Student loans basics
Student loans come two primary sources -- the federal government and private lenders. In order to obtain federal student loans, you will first need to file the Free Application for Federal Student Aid (FAFSA). The FAFSA is your application for all federal financial aid including federal student loans. There are four main federal loan programs:
* Federal Stafford Loan
* Federal PLUS Loan
* Federal Graduate PLUS Loan
* Federal Consolidation Loan
You can learn the ins and outs of each at their respective page on this site. The Federal Stafford loan is made in the name of the student, is based on need, does not require a credit check (it's guaranteed by the government rather than credit/income/assets, etc.) and does not have to be repaid until after the student graduates, leaves school or stops attending on at least a half-time basis. Some school offer Stafford loan directly through the federal government. These are commonly known as Direct Stafford Loans. The schools that offer Direct Loans are known as Direct Lending Schools. Other schools offer Stafford loans ( college loans) through banks or other lenders. These schools are commonly called FFEL schools (Federal Family Education Loan). In order to obtain a federal Stafford loan through a FFEL school, you will need to choose a lender.
source : http://www.estudentloan.com/
* Federal Stafford Loan
* Federal PLUS Loan
* Federal Graduate PLUS Loan
* Federal Consolidation Loan
You can learn the ins and outs of each at their respective page on this site. The Federal Stafford loan is made in the name of the student, is based on need, does not require a credit check (it's guaranteed by the government rather than credit/income/assets, etc.) and does not have to be repaid until after the student graduates, leaves school or stops attending on at least a half-time basis. Some school offer Stafford loan directly through the federal government. These are commonly known as Direct Stafford Loans. The schools that offer Direct Loans are known as Direct Lending Schools. Other schools offer Stafford loans ( college loans) through banks or other lenders. These schools are commonly called FFEL schools (Federal Family Education Loan). In order to obtain a federal Stafford loan through a FFEL school, you will need to choose a lender.
source : http://www.estudentloan.com/
Wednesday, April 4, 2007
New Math For Calculating College Loans
Is there such a thing as a guaranteed personal loan? Well, sort of. First of all, there is no guarantee of you receiving any loan apart from the official approval of the lender. Second of all, the type of loan being offered may not meet your needs. Let’s take a look at guaranteed personal loans and how you can apply for one today.
Words matter. They really do. The term “guaranteed personal loan” is used to describe different lending vehicles, but for the sake of ease it generally covers the following names:
1.Payday loan
2.Cash advance loan
3.Cash flow loan
4.College student loans
In other words, these types of loans are short term loans charging a very high interest rate, rates that are well above what you could expect to pay even with the worst credit card plan. College Loans are also one kind of personal loans that can be guaranteed.
For instance, let’s say you want to borrow $1000 until the next payday. One such lender will be happy to let you borrow the funds provided that you have a checking account and a job. By filling out an online application, approval can be given in as little as one hour and the funds deposited immediately to your checking account.
source : http://www.content-articles.com/
Words matter. They really do. The term “guaranteed personal loan” is used to describe different lending vehicles, but for the sake of ease it generally covers the following names:
1.Payday loan
2.Cash advance loan
3.Cash flow loan
4.College student loans
In other words, these types of loans are short term loans charging a very high interest rate, rates that are well above what you could expect to pay even with the worst credit card plan. College Loans are also one kind of personal loans that can be guaranteed.
For instance, let’s say you want to borrow $1000 until the next payday. One such lender will be happy to let you borrow the funds provided that you have a checking account and a job. By filling out an online application, approval can be given in as little as one hour and the funds deposited immediately to your checking account.
source : http://www.content-articles.com/
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