Student loan survival guide : drowning in student loans

Philip Jones wanted nothing more than to marry his fiancee, fly away to Costa Rica, and embark on the rest of his life. But something was holding him back--the $40,000 in student loans he owes to Direct Loans and Sallie Mae.

Jones, 30, was stressed out because he knew that if he fell behind on his loan payments, the U.S. Department of Education could provide offsets against Social Security payments and garnish his wages and tax refunds, without a court order. Until recently, only the Internal Revenue Service wielded such power.

Luckily, the 2004 graduate of Rutgers University College of Engineering knew a little something about forbearance, a temporary suspension of loan payments that most lenders will allow when times are tough. For Jones, his wallet was being pulled in too many directions; he was trying to pay for a house, a wedding, and a honeymoon within a six-month period.

"I didn't have to make a payment for six months, so that money went toward the wedding and honeymoon. It's easing the financial stress," says the mechanical engineer, who works for Hayes Pump Inc., an industrial equipment distributor in Fairfield, New Jersey.

Source : http://findarticles.com/p/articles/mi_m1365/is_11_35/ai_n14816909

Do I qualify for a student loan?

Student loans come in several types, and you obviously have done some research as you named the Perkins and Stafford programs correctly. Perkins is awarded by the Financial Aid Office. The Stafford loan also is processed by the university based on the same FAFSAA, however, the Stafford can either be subsidized (government pays the interest for you while you're in school - determined by your income and current resources), or unsubsidized.

People who do NOT qualify for "need based aid" can still get an unsubsidized Stafford loan, and simply allow the interest from the in-school period accrue and be repaid along with the original principal amount at repayment.

Source : http://www.youngmoney.com/financial_aid/student_loans/102

How the end of the single holder rule affects you, the student loan borrower

Until July 1, 2006 if all of your student loans were issued through one lender, you were forced to consolidate with that lender—regardless of whether that lender had the best student loan consolidation deals for you. If you’re like most students, you probably have no idea which lender was supplying your federal student loans.

If you did, you probably didn’t pour through the fine print of their student loan consolidation terms while in line at the financial aid office. Now, it doesn’t matter who issued your original loan, you can consolidate college loans with the lender that offers you the most benefits.

source : http://www.scholarpoint.com/Articles/

Student car loans for college students

Student car loans for college students

Many students don’t have a source of income, but they still need to borrow money to buy a car. Although many online lenders out there offer car loans to college or university students, there are some car loan programs that are targeted at students but are not flexible. It is important to distinguish between the student car loans that are easy to repay and the ones that are offered by banks and other traditional credit unions. Online lenders are known to provide various loan solutions to people who do not have a steady income.

Student car loans have a lower interest rate and the repayment period can be extended so that the students can afford the monthly installment. In addition to these, there are other benefits of student car loans as well. In order to opt for a student car loan program, you have to be a US resident currently enrolled in a college or university. While looking for online car loan lenders, choose a company that offers a comparison of the different options and lenders.

Before you choose a lender, make sure that you have read the terms and conditions carefully. Buying a car isn’t that easy. You will not only have to consider the monthly loan payment, but also any other overhead charges that are associated with the purchase of a car. These additional costs include car maintenance and insurance.

In addition to lower interest rates, some online lenders also offer other concessions to students. If a student happens to have a bad credit history, he/she may not be eligible for a lower interest rate on a car loan. However taking out a student car loan is useful because it will actually help to improve their credit score.

If you are a student you will no doubt have either a poor credit history or no credit history at all. All students borrow money, and so their credit score will no doubt suffer. There are options to borrow money for a car even if the student has a bad credit history.

source : http://www.add-articles.com/Article/Student-Car-Loans/86952

Consolidating your student loans

Consolidating your student loans

Why these factors matter to you when consolidating your student loans

Best Rate Guarantee : ScholarPoint's Best Rate Guarantee ensures that you'll lock in the very best rates, no matter how the interest rate changes on July 1st!

Get Started Today
1. The annual government-initiated student loan interest rate change

Most of your student loans have a variable interest rate – specifically loans taken out before July 1, 2006 can potentially gain a higher rate while you’re repaying them as the government changes student loan rates each year on July 1st.

So how do you know when to consolidate? If the interest rate is higher than it is today, you’ll pay more after July 1st. If it’s lower, you’ve missed a chance to pay a lower amount each month. Whether you consolidate today or wait until after July 1st, you’re taking a gamble on the changing interest rate – right?
Apply Today to Get the Best Rate, Guaranteed

ScholarPoint has a unique program called the Best Rate Guarantee that removes the risk of paying too much. When you begin the consolidation process before July 1st, the Best Rate Guarantee ensures that you’ll lock in the lower of the two interest rates.

source : http://www.scholarpoint.com/Articles/BestRateGuaranteeConsolidationFeature.aspx

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Online Help In A Hurry - Fast Cash Loans

Everybody at some point in their lives gets in a tight spot with money, which is where finding fast cash loans online can become helpful. What is a cash advance loan you might be asking and how will one help me?

A fast cash loan is also commonly referred to as a payday loan. When you have applied for a fast cash loan online you will need to have an active checking account or savings account, as this is the method that the loan company will use in order to collect the money that they are owed.

The term of fast cash loans are normally between one to six weeks and usually no more then two or three months.

How can a fast cash loan help me?

A fast cash loan can have money in your hand in less then 24 hours, many times even the instant that you are approved. This can be very helpful if you have a dire need for money. You don’t need to have stellar credit in order to qualify for a fast cash loan. Most all cash advance companies will only require and active checking (or savings) account and that you have proof of how much money you make in a month. Many companies additionally require that you have been at your current job for at least six months. Fast cash loans can also help you bring your credit score up if the company happens to report to any of the three major credit reporting agencies.

source : http://getloansonline.blogspot.com/