Online Schools

A College Loan Will Finance Your Education!

Views: This article has been read 769 times Thumsb up
Rating: 24 user(s) have rated this article

A college loan has given people all over the United States a chance to further their education, even if they are not making a lot of money. Education loans can be a big help in paying for college. You'll find these loans offer a low interest rate and a generous repayment period. Of course, student l

A college loan has given people all over the United States a chance to further their education, even if they are not making a lot of money. Education loans can be a big help in paying for college. You'll find these loans offer a low interest rate and a generous repayment period. Of course, student loans must be repaid, usually with interest, although some education loans have provisions for cancellation if the borrower performs a program-related service. If you are looking for a loan, be aware that there are many different types of loans. Try to find the student loan that fits you the best.

For example, there is a loan called the Federal Stafford Loan. The Federal Stafford Loan is the most widely used loan in the student education loan program. Federal guidelines limit the maximum interest rate to no more than 8.25% and outline repayment terms of up to 10 years. Remember that if you ever need help or are falling behind on payments, consider a consolidate student loan.

Tips on getting a deferment for your College Loan.

If for some reason you are unable to meet your monthly payments, consider a college loan deferment. A deferment is a suspension of payments for special reasons. Usually, those who borrowed their first Stafford Loans after July 1, 1993, are eligible to defer payments if are enrolled in at least half-time at an eligible school, unemployed, in a graduate fellowship program, in a rehabilitation training program for people with disabilities, or suffering economic hardship. A college education is expensive, but with the right student loan you will be attending class without financial worry in no time!

About The Author

Mike Yeager, Publisher

http://www.a1-loans-4u.com/


How would you rate this article?



Comment Posted by cEQOSQFjjScNk on Friday, February 22, 2013 8:14 AM


First you need to stop spending money that you don39t have. Please do not ctdoolinase or use a debt reduction company . It is not free, they will lower your payments by increasing the length of time until you are debt free, and you will take a hit on your credit score. Or they negotiate your debt down after telling you not to pay for awhile adding another hit to your credit score. Student loans are the only debt that can garnish your wages for non payment without taking you to court first. Just list them out on a piece of paper or a spreadsheet and follow the plan. If you work the plan, the plan will work for you.A. Have a garage sale and sell anything that you no longer need or want.B.Get a temporary part time job, if you have one, get another.Here is a plan that can help you. If you work the plan, the plan will work for you:1. Make a budget. Make the budget a week before you get paid. A budget is not a punishment It is a tool which will free you from ever having to worry about money again. Put everything in your budget. Especially those annual, biannual, or quarterly bills like car registration, insurance, etc. Give every dollar you are going to bring home the name of where it is going. Add an emergency fund category to your budget for 25 dollars and save up until you have 1000-1250 dollars. Your emergency fund will help keep you from getting into new debt because of an emergency. If you can, set up a direct transfer to a savings account for your emergency fund. That way it moves automatically and you don39t even have to worry about it. You must cut your spending and live on less than you make.2.First get current on all of you debts and make no more late payments. Stop using your credit cards immediately. Do not take on any more debt. Credit cards are like quicksand only the death is much slower. Make a list of all of your debts in order of highest interest rate to lowest interest. Use cash only for your spending from now on.3.Pay the minimum due on all of your debts and then put your extra money towards paying off the highest interest one first. After you get that one paid off, you put the money you were paying on debt 1 the minimum payment and the extra payment towards debt 2. That will pay debt 2 off faster. When that is paid off, you put all three payments towards card 3 and that one will be paid off pretty quickly. As an exle:To start :Debt 1 highest interest: minimum payment+ extra paymentDebt 2 middle interest: minimum paymentDebt 3lowest interest: minimum paymentDebt 1: paid offDebt 2: minimum payment from Debt 1+ Minimum payment from Debt 2 +extra paymentDebt 3: minimum paymentDebt 1: paid offDebt 2: paid offDebt 3:Minimum payment from card 1+ minimum payment from Debt 2+ minimum payment from Debt 3+ extra payment.That way, you will get them all paid off, on time, and pay the least interest. It will also help towards rebuilding your credit since you will no longer have any late payments. This works no matter how many different debts you may have.4. After you get all of your debts paid off, add to your emergency fund until you have 6-12 months of income saved up. Put that emergency fund money into a liquid money market fund or into a Bank of America no-risk CD so that if you need the money you can take it out without penalty.5a. When you have your emergency fund in place, add a category for fun to your budget. Save for a holiday, a vacation, a big screen, or dinners out, whatever goal you want. Remember to enjoy your life.5b. When you have your emergency fund in place, start saving for your retirement. Join the 401k plan at work and contribute the maximum. Your employer probably matches at least part of your contribution so why give up free money Open a Roth IRA and contribute the maximum on a monthly basis. If you start saving for your retirement now, you will probably retire a millionaire.5c. When you have your emergency fund in place, start saving for your next car. Only buy cars, or other things that depreciate, with cash. Save up for a nicer car. That way you get the interest instead of paying the interest.You can do it and it isn39t as hard as you think. Just follow the plan.

Comment Posted by ldghsJmwNuWU on Sunday, February 24, 2013 6:21 PM


53AdOY , url=http://ylfphwnpyftf.com/ylfphwnpyftf/url, link=http://jlwtljgmabwo.com/jlwtljgmabwo/link, http://mcdwccoyqutd.com/

Comment Posted by gyTshkUG on Wednesday, August 12, 2015 6:48 PM


33ZDxl http://www.FyLitCl7Pf7kjQdDUOLQOuaxTXbj5iNG.com

Your Name(required)

Your Email(required)

Comments(required)