Paying For College With College Scholarships and Student Loans

It is getting harder to pay for a college education these days, but it is by no means impossible. Getting college scholarships is still the best way to go, and there are plenty of them still around - even though money may be getting tighter. Here are some tips about how to get money to pay for your college education with college scholarships and student loans.


The best way to go to college is to go free. College scholarships can enable a student to go to college without cost - if there are enough of them. In order to get as many as is needed to go without cost, you will need to apply to as many scholarships as possible. Of course, you want to only apply for those college scholarships that you have a good possibility of actually winning.

Finding the right college scholarships to apply to will require some work - and possibly some imagination, too. There are college scholarships for just about everything you can think of these days - and possibly some that are almost out of reach of the imagination, too. You can find them for academics, sports, hobbies, uniqueness - like a special last name or for left-handers, etc., your locale, and some that are just plain weird - like the duct tape prom college scholarship.

In order for you to learn about what college scholarships are available, you will need to do some homework. This includes researching them online, in the library, letting scholarship groups help you (be careful of these - some are scams), talking to your school counselors, and more. You can also look at the Web sites of the colleges that you are interested in, and they will show you what college scholarships are available there.


Many companies also offer college scholarships, too. They do this because they want to have a qualified and trained pool of potential employees available when they need them. They usually look for exceptionally bright prospects that can bring much to the table if they should hire them.

Getting a college scholarship or an internship with a great company can lead to a great job right out of college. Sometimes, you may even be able to find your needed college scholarship simply by looking at the various companies you would dream of working for after you get your college degree. Look at their Web sites for more information.


Because college scholarships may not cover your entire school bill, you may also need some college financing. Direct loans are available from the government, which will also give you the lowest interest rate possible on education loans.

Direct student loans, which includes the Stafford loans and the PLUS loans, accumulate no interest while you are in school (because the government pays for it while you are in college), or drop to less than half-time. You will not need to make any payments on the loan until you have been out of school for 6 months.

Graduate students and families of college students have access to PLUS loans for education and they also have the same terms as the Stafford loans – but a little higher interest rate. All government loans can be consolidated after graduation for easy payments.


If you want to get the most out of college scholarships and student loans, then you will need to get started early. In fact, you should get started earlier than was necessary in previous years. With less money going around and with some college scholarships going on a first-come, first-served basis - you have no time to lose.

Finding the right college scholarships takes a considerable amount of time, and so does filling out scholarship applications and writing scholarship essays. In addition, in order to get a Direct loan, you will need to have filled out the FAFSA form, which is required for all government student loans.


College scholarship applications require that they be filled out accurately and carefully. A little carelessness (or haste) in answering a question or two could needlessly cost you a college scholarship. This could mean that you may need to take much longer to pay off a college loan - when you didn't have to.

Writing a quality college scholarship essay that will win a scholarship requires that you understand what the group offering it is looking for. Make yourself look like the person that they would like to represent and promote their company, college, etc., and you could walk away with the free college education you want. Be honest, though, in what you write - and you'll be glad you did.

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New Repayment Break on Student Loans Begins July 1

It’s not an easy time to be graduating from college with student loans. With the unemployment rate soaring toward 10 percent and the average starting salary for college graduates down 2.2 percent this year, student loan borrowers — whose average debt from student loans tops $22,000 — are now having an even tougher time affording their student loan payments.

The good news? Starting July 1, 2009, graduates with federal college loans may be able to qualify for a new government program that can reduce the monthly payments on their student loans ( based on their income.

Income-Based Repayment for Federal Student Loans

The income-based repayment program, created by Congress in 2007 as part of the College Cost Reduction and Access Act, will cap a borrower’s monthly student loan payments at a percentage of her or his income, when the borrower’s income is at least 50 percent higher than the current federal poverty line for the borrower’s family size.

These income-based student loan payments will be calculated as 15 percent of the amount by which a borrower’s adjusted gross income exceeds 150 percent of the poverty line.

(For individuals, the 2009 poverty line is $10,830 in all states except Alaska and Hawaii. The complete federal poverty guidelines for 2009 ( are available on the website of the U.S. Department of Health and Human Services.)

For example: 150 percent of the current individual poverty line of $10,830 is $16,245. If a borrower’s annual adjusted gross income is $25,000, the monthly payments on her or his eligible student loans would be capped at $109.44 — 15 percent of the difference between $25,000 and $16,245, divided by 12 months. If a borrower’s annual adjusted gross income is $40,000, the monthly payments on any eligible student loans would be capped at $296.94 ($40,000 – $16,245, multiplied by 15 percent, divided by 12).

Income-based monthly payments will be adjusted annually, based on a borrower’s federal tax return from the previous year. As a borrower’s income rises, the income-based repayment cap will also go up. If the income-based repayment cap reaches a level higher than what a borrower’s monthly payment would be under a standard 10-year student loan repayment plan, the borrower will no longer qualify for income-based repayment for her or his student loans.

Borrowers whose adjusted gross income falls below 150 percent of the poverty threshold won’t be required to make any payments on those student loans that qualify for income-based repayment.

Even if no payments are due, however, interest will continue to accrue on those college loans ( Unpaid interest will also accrue if a borrower’s income-based monthly payments aren’t sufficient to cover the full monthly interest on the qualifying college loans. Any accrued unpaid interest will be added to the student loan principal and capitalized when the borrower no longer qualifies for income-based repayment.

Subsidized Interest and Student Loan Forgiveness

For those borrowers who hold subsidized student loans ( or a federal consolidation loan that included subsidized Stafford loans or Perkins loans, the government will cover any unpaid interest on those subsidized loans (or on that portion of a student loan consolidation that’s comprised of subsidized loans) for the first three years that a borrower is in income-based repayment.

The longest that a borrower can remain on the income-based repayment plan is 25 years. After 25 years of income-based payments, the government will forgive any remaining principal and unpaid interest — although borrowers should note that under current tax law, this forgiven student loan debt would be taxable.

Borrowers who are employed full-time in qualifying jobs in the public service sector may have their remaining student loan debt forgiven after just 10 years in the income-based repayment program, and this forgiveness would be tax-free, thanks to a ruling from the U.S. Treasury last year.

Qualifying for Income-Based Repayment

To find out if you qualify for income-based repayment on your federal college loans, you’ll need to contact your lender and provide information about your financial situation — you’ll need to demonstrate “partial financial hardship,” as defined by federal regulations.

Only federal Stafford and Grad PLUS student loans in good standing, along with consolidations of these college loans, are eligible for income-based repayment. Federal Perkins loans are eligible only if they’ve been included in a federal student loan consolidation. Other college loans are ineligible:

 Private student loans. The income-based repayment program applies only to federal student loans. If you’re having problems meeting the monthly payments on your private student loans (, you should contact the lenders to see if they’re willing to work out more affordable repayment plans for you. Keep in mind, though, that private student loans typically have less flexible repayment options than federal student loans.

 Federal PLUS loans. If your parents took out PLUS parent loans to help you pay for college, they won’t be able to take advantage of income-based repayment on their PLUS loans. Consolidation loans that included PLUS parent loans are also excluded from income-based repayment. Any Grad PLUS loans you took out as a graduate student, however, as well as consolidations of Grad PLUS loans, are eligible.

 Defaulted student loans. Your student loans don’t have to be new to be eligible — even long-time graduates may be able to qualify for income-based repayment on college loans taken out years ago. But you can’t be in default on your loans. To qualify for an income-based repayment plan, any federal college loans you have in default will need to be rehabilitated first.

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Privileges of Federal Student Loan Consolidation

How far do you understand about federal government student loan consolidation program? This program is offered by the US Department of Education. Unlike other forms of student loans, this type of loan consolidation is a loan issued for fresh graduates after the completion of their tertiary education. It is a great tool that allows the college or university graduates to merge all their federal loans into one new loan. It is used as a mean of extending the repayment term due to economic hardship.

To be frank, this program is in fact more costly for graduates in the long run if we look at the total repayment amount. However, it helps them to save some money at the initial stage by reducing the monthly repayment amount. In general, the monthly payment can be reduced up to 50-60%. This lower repayment plan is important for students who are unable to meet significant financial obligation right after their graduation.

Under this plan, the US Department of Education would be the sole lender and the students only need to make one payment every month. If they are currently unemployed, they will not be rejected to sign up for this plan. However, they are allowed to suspend their payment for up to 36 months (depending on their total debt amount). Moreover, if the graduates manage to pursue their career in public sector, they will be enjoying extra privilege where their monthly repayment will be adjusted based on both their annual income and the size of their family. In addition, if they plan to further their studies, they are allowed to defer their payment to a later date.

Student loans can be overwhelming and frustrating but nowadays, they don't have to be because the federal government is putting a lot of effort to assist the graduates to overcome their financial issues.

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Students and Their Probability to Have Quick Loan

In face of global economical crisis we’re observing rising of costs on college education so does the demand for equity loan debt consolidation attendances and learners advances. Unluckily, as a result of our education in college turns to massive arrearages.

Learner credits are specifically targeted on persons with little payment capacity and they already get little rates of interest and supple pay-back terms, but even in this situation you will see many riddles to settle them back on schedule. Correct use and manage of your debt will assist you elude debt neglect. If you want to reduce the quantity of the liability you are to take consolidation program.

This programs make obtainable to reduce all credits that may be repaid in period of higher education, remainder depends on sort of student credit you choose. If you face such riddles you may connect to consolidation agencies, that will help you with your liability issue.

Student credits are separated into 2 kinds: individual and government. It isn’t recommended to combine 2 different sorts of learner loans into single pack. If you choose federal advance you’d get some benefits, because this credit has government support. You’d make a proper decision, if you take all federal credits in one and work out them, and just than without any doubt you can get individual credit. Not good fact of private learner credits is large rates of interest and less protection ability. And if you want to have very good lending, utilize equity loan.

There’re certain rules and regulations that must be complied, if you want to unite your learner credit. To unite your learner loans, you should finish university and must be in the grace period of the loan, also you should make installments, so you will avail the opportunity of consolidation assistance service Step number two is calling to the consolidation organization and asking them to converse with your creditors to abate your regular payments and interest, if you suit into the criteria. Do not think that student loan consolidation will not affect your prospective desires of qualifying for a credit.

You should pay enough attention to your loan, if your liability goes above eighty five percent of your entire income, your prospective loan evaluation would be bad. This performs once again that you should not treat learner credits insignificantly; even these advances have an affect on your future decision as a debtor. The activity of consolidation companies is to approve you for extra discount programs, they abate your interest, comprise grace-term savings, on-time and automated direct-debit installments.

You will have no difficulties if you repay in term. Attention, you must check thoroughly the genuine of the consolidation company. Fake consolidation institutions will make your difficulties larger, they’ll just append more troubles to your arrearages. College student loan may assist you to rid yourself of those problems.

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Obama Wants To See All Mothers And Women Go Back To College - Providing $10,000 In Scholarships

According to the US Census, 18.4 million Americans are enrolled in colleges and universities across the nation. Seventy percent (70%) of these students qualify for, and receive, financial aid through grants and scholarships. And, while these grants and scholarships rarely cover all the expenses of higher education, they are the cornerstone in opening the option of a college education for most of the country.

President Obama has wants those numbers to increase. He has urged every American to commit themselves to at least one year of higher education. And, to sweeten the deal, his American Recovery and Reinvestment Act has increased funding to the federal financial aid programs and has opened eligibility to cover more people. This is great news for the nation's mothers who wish to go to college.

The financial aid comes in 3 different forms. ARRA has broadened the benefits of two of these types: grants and loans. Grants are monetary benefits provided to individuals or organizations and are "need based" (dependant upon the applicant's financial situation). Grants do not need to be repaid.

Student loans are issued through the government, a bank, or private institutions. These tuition benefits need to be repaid. Loans can be either subsidized or unsubsidized. A subsidized loan disregards the accumulated interest while the student is still in school (i.e. the interest rate is 0% until the student graduates or drops out). Unsubsidized loans do not offer this protection. Interest accrues immediately.

Scholarships are the Holy Grail in the financial aid game. Scholarships are tuition awards granted to students based on a set of standards set by those who donate the money. They can be merit based, need based, issued by private companies, issued by universities, and based on sociology. Sociology based scholarships award tuition to students because of gender, race, religion, or nationality. These are the type of scholarships aimed at mothers.

The best place to start is to fill out the Free Application for Student Aid found in every college financial aid office. Then run independent searches. With a little research, you too can go to college.

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Should you Worry if You Have a Student Loan?

The current recession that we are experiencing is one of the worst in our recorded history. If it wasn't for the federal government pumping in bucket loads of cold hard cash to prop things up, we would have crashed our economy with unthinkable consequences. With so many media organizations lambasting us with this information it isn't unexpected that people start to worry. Amongst the group of people who don't know what to think about their future are students who are funding their education with either government or private student loans. In short, if you are currently a student then the recession really doesn't pose any danger to you.
The federal government has realized that of all the loans that have to be protected and given certain priority, student loans rank very high. After all, cutting the education loans budget would be akin to you cutting your children's education just to save a few pennies. It is a terrible move with devastating knock on effects for the general population in the future. The education level of the general public will decrease substantially making the country less competitive and may even cause a greater recession than the one that we are already in.
Participants in other industries might not be so lucky as students when it comes to their fortunes during this recession. Construction companies, mortgage providers or even other loan portals will find that the recession is quite bad for them. Construction companies will have next to no access to funds as banks will most probably turn down their application the same way that any company dealing with loans of mortgages will also be shut down. You will see small mortgage providers going out of business and many construction projects put on hold.
Although those with existing student loans private or otherwise have very little to worry about those that are starting their college years and looking for student loans may find things trickier. The first thing most would notice is that private student loan rates have increased slightly compared to pre-recession periods. For those who are servicing their loans it might be harder for them too because jobs are harder to come-by and some may even have the bad fortune of being laid-off. If however you are in school, there is nothing to worry about.
A brief study into the group of people that are affected most by the recession saw current students rank very lowly. This means that life basically goes on for them quite normally. The group that is most affected by the recession are the elderly, retired and seniors. Their health and wellbeing wouldn't be affected but the fact is that most of them bought multiple houses during the real estate boom time and their investments would most probably have halved in value since. This means that they have taken the biggest hit financially.
In the long-run students might even stand to benefit from the knock-on affects of the recession. The first thing that students might notice is that the rental for their homes might have gone down. This is because of the underlying price of the homes have deteriorated over the recession and some landlords base their rental price on the price of their houses and that the general rental price for properties have also deteriorated city wide. Most of us will also see that the prices of general goods and services might also decrease slightly. Again for students, this is a good thing as their student loan will provide a stable source of funds.
We actually see the life of students getting a bit easier in the recession. This is of course assuming that the student is already using his/her student loan and isn't finishing their studies anytime soon. Current students on student loans are exposed to very little of the downsides of the recession but are able set up to receive the upside of the recession quite readily. They should only worry about the recession when they are finishing their studies and looking for a job.

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Rising Student Loan Debt Testament to Decreasing College Affordability

Over the last 10 years, not only have more undergraduate and graduate students been taking out student loans to pay for school, but they’ve been borrowing exponentially more.

While some authorities in higher education and financial aid attribute this trend to students becoming overborrowers — maxing out their federal college loans and adding on private student loans ( just because they can — others say the increase in reliance on student loans is due to the fact that college affordability has moved increasingly out of reach.

“It used to be that, 10 to 20 years ago, if you went to a four-year public institution, had a low to moderate income, and worked a reasonable amount part-time in school, there was enough aid and public institutions were better financed, so you could come out with no debt,” Lauren Asher, acting president of the Project on Student Debt (, told The Chronicle of Higher Education. “That same student now would have to borrow to get their education.”

Tuition Keeps Rising, Students Keep Borrowing

College costs have soared in the past decade at both public and private institutions, with college students across the country being subjected to near-yearly tuition increases. In just the last year, even as unemployment has soared and retailers and service providers in every sector — from airlines to car dealers to clothing stores — have slashed prices in response to diminished consumer spending and contracting sales, tuition and fees at both two-year and four-year colleges and universities have continued to rise.

For the 2008–09 academic year, according to the College Board, in-state tuition and fees at four-year public institutions were up, on average, by 6.4 percent to $6,585, compared to the previous school year. Out-of-state tuition and fees were up by 5.2 percent to $17,452. Tuition and fees at public two-year colleges rose by 4.7 percent to $2,402, and at four-year universities by 5.9 percent to $25,143.

Student borrowers have had to adjust accordingly.

In 1993, fewer than half of graduating college seniors had taken out student loans ( to finance their undergraduate education, according to the Project on Student Debt. By 2003, that number had climbed to over 65 percent. For the students graduating with student loans, the average student loan debt amount more than doubled in those same 10 years, jumping from $9,250 in 1993 to $19,200 in 2003.

Today, about 8 percent of undergraduate students currently carry college loans in amounts more than double the national average.

Borrower Education Lacking for Student Loans

Part of the problem, financial aid experts say, is that many students pay little attention to their college costs and how much they’ll need to borrow in student loans to cover those costs, particularly when it comes to attending their dream school.

“They want to be able to pay for the school they have wanted to go to for as long as they can remember,” says Mark Kantrowitz, publisher of, a student financial aid website. “And they are willing to do whatever it takes.”

And rarely do these students get advised otherwise. Students receive little, if any, education from high school guidance counselors or college financial aid administrators about the financial aid process or the realities of student loan repayment. Often, students graduate without knowing what type of college loans they’ve taken out, how much student loan debt they’ve racked up, what their student loan interest rates are, or how feasible it will be to pay off their federal and private student loans with a job in their field.

Despite Drawbacks, Student Loans Remain a Worthwhile Investment

Despite this overwhelming increase in student loan borrowing, most economists and financial analysts maintain that the difference in lifetime earning potential between high school and college graduates more than outweighs the costs of a college degree (

In 2007, the average college graduate earned about $57,200 a year, compared to the average high school graduate’s annual earnings of about $31,300 — a difference of over 80 percent. Over a lifetime, college graduates typically earn $1 million more than high school graduates.

A student who graduates with $20,000 in debt from college loans ( should be able to make back at least that amount within one to two years in the additional earnings afforded simply by virtue of having an undergraduate degree, says Sandy Baum, a senior analyst at the College Board.

The benefits of a college degree are even more noticeable in the current recession: Although job losses have hit both white-collar and blue-collar industries, the unemployment rate in May was 4.8 percent for 25-year-olds with bachelor’s degrees, compared to 10 percent for 25-year-olds who hold only a high school diploma.

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Debt of the Nation & Student Loans Consolidation

How much do Americans owe, generally? About 76 million individuals who comprise the so-called Baby Boomer owe more than 40% more than the value of their liquid and illiquid assets and properties. What does this mean? This simply means that many are paying for debts for more than three decades now.

Effective Management of Debt

Is this picture encouraging? No. If we are to take the “rule of inheritance” of generations, then the younger generations of American will be put in the same situation decades from now: capable of acquiring assets but lack the financial know-how to settle debts immediately. This is where student loans consolidation enters the scene.

Student loans are but one of many kinds of debt plaguing Americans around the country. Credit is often misused, and paychecks are stretched to the limit. Investment cannot be part of the picture if a person is buried in debt.

The Importance of Getting Sound Financial Advice

The repayment of debt has never task for anyone. According to the Federal Reserve:

“Americans owed $1.33 trillion, excluding mortgage debt, at the beginning of 1999. With the average American now spending more than 10% of his or her discretionary income on monthly interest payments, excluding mortgages and car leases, CPAs can provide clients with a valuable service by helping them better manage their resources.”

The debt of course, has already increased since this computation of the Federal Reserve. But the good news here is that traditional approaches in financial planning still work.

Optimal Payments for Student Loans Consolidation and Other Loans

If you have monthly payments due for student loans consolidation, you of course have to put a limit on how much you would be setting aside for debt repayment. It’s not healthy to focus all your energy into repaying debt, and ignoring all the other necessities of life.

The optimum amount of money for debt payment is about 36% (this is the maximum amount) of your gross income. If you have a mortgage, limit the payments to about 28% (because the debt is larger). Other installment payments should be limited to about 20%. For student loans consolidation, you can set aside from between 10% of your gross income to a maximum of 15% or 20%.

To maximize the benefits of a financial consolidation, make sure that you avoid marketing ploys that will bury you deeper in debt. According to Roger Pauline, a financial aid consultant for Sallie Mae:

“Payments should not be delayed needlessly. Windfalls should be used to repay debt. If you can, set aside bonuses for the complete repayment of debt. You will feel things easing up once the debts are all over and your contract with the financial consolidator is over.”

There’s no doubt that interest rates of student loans would be reduced once you get your consolidation. Use the opportunity to reduce interest rates to lower the actual sum of your debts. Even if you’re still in college, start paying off your loans by paying off the interest rates. That will save you a lot of money in the future, and you will be thankful that you were financially savvy at such a young age.

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Quick Student Loans - Tread Carefully

Currently at the time of this article, if you Google “quick student loans” or “fast student loans”, the top result sends you to a landing page at The only thing that page does is ask you if you still need more money for college then click here to get an application for a SunTrust Academic Answer Loan. Now, is SunTrust your best answer for an impulse school loan? … maybe or maybe not. I think it would be wise to spend at least five minutes instead of one before making a quick student loan decision that could possibly strap you down for the next decade or more.

According to an August 2009 survey of eleven private student loan lenders, the SunTrust Academic Answer Loan was rated smack in the middle with a two and a half star rating. There were three lenders with a four star rating: Addison Avenue, NASA, and Northwest FCU Private Student Loans. Notice they are all FCU or federal credit unions and not banks. Check out you local credit union before turning to a bank.

There are other very important things to consider before taking a student loan plunge. Get a relative with good credit to co-sign the loan with you. Starting college, you probably do not have a good credit score. This goes against a Dave Ramsey style of thinking but if you are faithful to pay off the loan over the next few years, everyone comes out looking good. It comes down to your relative's character judgment of you. If you haven't been the most responsible young person growing up, don't expect mom, dad, grandma, or grandpa to co-sign with you on a quick student loan. They would be responsible for the balance of the loan if you failed yet again in this area of your life.

If you don't have someone co-signing with you, you might still be able to get the loan but it'll come to you with a higher interest rate. Also, there are probably stiff penalties if you are late on a payment. Expect the interest rate to climb even higher. These are the things you need to think about before jumping in too fast.

Before you pursue any student loan, make sure all other sources of money have been tapped including, federal loans and grants, scholarships, and work study programs. Some states also have their own private loan programs which are worth investigating before turning to a bank for financial aid.

Finally consider going to a two year community school to get an AA degree and then transfer to a four year university to complete your education in the field of your choice. While I'm on the topic of career choices, never get a loan to obtain an education in a field that doesn't pay well. Philosophy or art degrees do not help much in paying off quick student loans.

In summary, obtaining quick student loans can be a life changing experience for better or for worse. Tread carefully before you get one.

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9 Steps To Get Out Of Debt - Part 3

Step 3 - Analyze Your Debt

The next step is to figure out exactly how much you owe. First, make a list of every debt you have. Not just credit cards, everything. Credit cards, department store credit, mortgages, car payments, unpaid past-due bills, student loans -- everything.

You do not need to count items such as recurring bills like electric, gas, cable, etc. These are not debt, they are recurring expenses. At any time you could shut these off and not owe any additional money, although it may make life unpleasant, to say the least.

Once you have a list of what you owe, you need to determine what your remaining balance is on each item, the current interest rate and your monthly payment for each debt. On most loans you’ll be able to find this information on your monthly bills. However, you may have to make some phone calls to get this information for other debt. Add the remaining amount on each of these items together, this is your total amount of debt. Also, add together your monthly payments for each of these debts to determine the total monthly cost of your debt.

Now, you need to determine how much this debt is going to cost you if you continue making the payments you currently are. You can do this by completing an amortization table for each debt. Don’t worry, we’re not going to make you do this yourself, you can use our amortization calculator located at . This will tell you two key pieces of data: how much each debt is going to cost you, and when it will be paid off. Add the total cost of each loan together; this is the total cost of your debt. This number can be scary at first, but don’t get too worried yet, this should be the last time you see this number.

If your total monthly debt is greater than 50% of your net monthly income, or you have found yourself in a situation where you are unable to pay your bills and have fallen behind by several months, I would suggest you stop here and seek the advice of a professional financial counselor. Otherwise, continue on.

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Student Loans Lead To Legitimate Gripes And Groans

Graduation secrets for achieving your degree are a lot like the secret to being successful in life if you believe the saying that ninety percent of success is simply showing up. In most cases for most students the classes are not so hard they cannot be bested if they do make the effort of at least showing up. Grades can be based on as few as half a dozen tests over an entire year's worth of time so if the student is showing up then it is likely some of that material is sinking in and therefore they have a fighting chance of passing.
Earning a degree is just that however. You will need to earn it. Today's college courses both on campus and on line are structured to help the student succeed in almost every possible way including in the case of online classes the opportunity to make your own hours so there is little excuse for not getting assignments done on time. Websites called forums have been in existence for some time now and students can log into these forums and post their questions or search for answers that have already been provided by those who went before them. In almost every situation where a college has an on line student forum there will be precedent and present opportunity to get help answering any questions they may have or perhaps find information which gives them a whole new group of questions to consider but not to worry since the answers to those new questions will be on the same page or very near there.

Yet with all this additional help that didn't exist back in years past, there still exists an unacceptable level of failure for students seeking a degree above that of high school. In fact one in every four drops out of college in their freshman year. An appalling number to any parent who has scraped and saved for close to twenty years to send their children to college. A terrifying number to a working adult who is spending what extra income and time they have to spare, on trying to better their lives. While this article mainly focuses on why the recently graduated high school student is failing in their attempt at college there are some reasons that bridge the gap of the recently graduated high school student to that of the working adult seeking a better paying career and the biggest common denominator is the cost of the education.

Investigation by this writer finds the reason for dropping out of college for the majority of those who do not continue is first and foremost the cost of the education. Then added to the equation is the possibility that after having accumulated all those loans which are waiting to be paid back there is still the chance that the student will not pass the necessary courses to be awarded the degree they need to get a job that will pay enough to allow them to pay off those loans.

If the student is struggling in the first semester it makes perfect sense to consider cutting your losses since simple logic states that the courses are not going to get easier. They will in fact get harder and in some cases much harder. Do you stick out three years on a four year tour only to find out that you cannot pass the classes in the last year and thus face paying back all those accumulated loans or quit now and only have to pay back for a semester or at most a year's worth of loans.

There is hope however. Colleges across the country are implementing new courses which are designed to help the new student learn to manage their time better so they can keep both the part-time job needed to pay for living expenses and still have room for both study and a social life because not only does all work and no play make Jack a dull boy but the contacts and people skills you develop while in college are every bit as important as the actual classes you take and these things are learned in the classroom called life where there is no substitute or shortcuts.

These new courses which teach students how to take care of themselves are so successful that one college has reached a thirteen percent drop out rate which is considerably more optimistic than the twenty-five percent national average. Students just entering their freshman year of college would do well to make room on their schedule for this class as it will benefit everyone from the most accomplished to the most undeserving in teaching them the core basics of adult life and all that is required to live on one's own. This then frees up all that which would have otherwise been stress so the student can more concentrate on learning the education they came there to gain.

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Important Need to Know Student Loan Facts

Student loans are extremely difficult to have discharged when filing bankruptcy. They have to be filed as an unwarranted difficulty in which you have to be incapable of working now and in the future. If you would like to discharge your student loans under the undue trouble exception, you must file a fresh motion with the bankruptcy court and then appear before the judge to elucidate your hardship.

If filing chapter 7 bankruptcy this is the case. If actually you are filing chapter thirteen, you can have your student loans consolidated into payments that are set up by the court. The bank student loans aren't discharged and you do have to pay them off broke. You are given a period to pay down your loans. This is typically a basic time frame of 5 years.

It is complicated and almost impossible to discharge student loans in bankruptcy. To understand what could be the best choice in clearing your student loan, it is advised to speak to a bankruptcy solicitor. They could have other solutions wholly, that will keep you from filing bankruptcy all together. An alternative choice for recommendation is to chat to a debt consolidation representative. They're trained and experienced in student loans and other kinds of debt assistance. When you do find the route in which you select to pay down your loans you'll be grateful to be free from the payments and debt.

Former students frequently wonder, when thinking about filing for bankruptcy, about their student loans. They need to know if their loans will be included in the bankruptcy or not. In 1998 there was a law passed that makes nearly no student loans fall under a bankruptcy claim. So, ultimately even if you file for bankruptcy you'll be stuck with your student loans still.

The law was established because many scholars were taking out student loans for amounts much higher than what they needed. Then they'd graduate and go into bankruptcy to get their loans nullified. Today filing bankruptcy won't eliminate the need for repayment of varsity loans. However [*COMMA] the reduction of debt might make it easier and allow the previous student to pay their loans without financial stress.

There are a few areas where student's loans can be forgotten in a bankruptcy. If the person filing for bankruptcy can show that paying best consolidation loans would create an undue hardship, they can regularly include it in the bankruptcy. In addition, if the repayment would stretch over a long period of time, it could be included. Finally, if it seems to the court the student has truly tried to pay down the loan over an extended period ( customarily between 3-5 years ), and still can't make the payments without fiscal stress, the scholar loan could be included in the bankruptcy.

While some people have the belief that Chapter 7 is the answer to all of their Problems, the downcast reality shows otherwise. Diminished credit, high interest credit cards, years of battling negative credit notations, and of course the enticement to run up all of the credit one has just shed are but a couple of the pitfalls bankruptcy discharges may loose on the unwary debtor.

Bankruptcy recommendation that might scare you straight intends to hinder you from filing for Chapter 7 if there's even the remotest chance of effecting debt repayment in any alternative way. It is painful, but it might just help you!

firstly, know what you are up against. Too many are lured into considering bankruptcy because they don't know just how much they owe to whom and when challenged with the particular numbers might notice that their situation isn't just about as dire as they suspected.

If your debts are as bad as you assumed - or worse - cut out of your financial position everything that's not vital to survival ; this refers to your gymnasium membership, cable tv, membership at the YMCA, and that kind of thing. Once you trim the fat from your budget, see how much you've got to allocate toward debt payments.

No bit of bankruptcy recommendation would be complete by suggesting that prior to even thinking about filing for bankruptcy you should liquidate whatever assets you can and then use the cash to repay or at least reduce your excellent financial duties.

Even if it only makes a small dent in your general debt, the incontrovertible fact that having got rid of some due balances and so permitted you to forego a bankruptcy filing altogether is maybe the best bankruptcy recommendation of all.

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4 Tips to Improve Your Chances of Getting a Student Loan

For the 66% of scholars with educational debt, doing homework leads to smart financing.

Now that most of this year's pomp and circumstance, cap-tossing, and graduation parties are in the memory banks, the reality of paying for college or graduate school is setting in. According to FinAid, two-thirds of students borrow to pay for school - with a typical loan debt of almost $20,000. Ten p.c of parents borrow for their students' education, borrowing a median of $16,218. And those figures account just for undergraduate education. Graduate degrees can pack on a further $27,000 to $114,000 in student debt.

Most US people with student loan debt doubtless saw the flood of news stories over the past few weeks encouraging borrowers to consolidate their student loans by the cutoff date - June 30 - before the annual interest-rate increase on July one. On that date, due to the rising IR environment in the united states, rates on federal student loan debt increased by an important 1.84 p.c. Now that student loan rates are no longer at the three p.c IRs they hit during the economy's slowest days, it pays even more to be savvy about borrowing for college or returning to school.

And this year, borrowers also could be affected by 2 new rules that took effect July 1, making it all the more crucial to pay attention to smart financing options for student loans.

rates on new Stafford Loans will not be variable, but will be locked at 6.8 p.c.

Formerly, if borrowers had multiple loans with one bank, they could only consolidate with the same bank, but as of mid-June, they can consolidate with any one lender.

If you missed the June thirty consolidation deadline, it is too late for this year. But for those who did - or who are taking a look at borrowing for school or graduate school via new student loans starting this year or later - these steps will help ensure you find your best financing mechanism for student loans.

Try again next year. If you have older student loans that you haven't consolidated, make a note on your calendar to check rates prior to next year's June 30 consolidation cut off point. The maximum rate permitted for federal Stafford loans is 8.25 percent. For 2006-2007, the rate will be 7.14 percent for those in repayment, or 6.84 percent for those with in-school deferment. It is possible that rates still will not have hit the maximum by next June thirty, and you then might be in a position to lock in lower rates.

Compare rates. Whether you're looking at new loans or old ones, check to be certain you are getting the best deal.

Check your options. Some career fields - like teaching and emergency services in high-need areas - are fit for loan forgiveness or debt reduction of student loans obtained to enter that field. Check with your school, pro organization or bank to ascertain if you are fit for any of these programs.

Get help if you can't pay. If you're unable to make payments on your bad credit loans, contact a debt resolution pro or get other credible assistance. Student loan debt typically is not eliminated by declaring bankruptcy, but you may be ready to work out a payment plan with your bank if you do not have the earnings to pay the debt according to the original schedule. Student loans represent a serious financial commitment, and avoiding repayment has major repercussions.

Student loan debt is one of the few'healthy' types of debt, as it helps people better themselves, further their careers and society, and generate larger long term revenues. With a bit of research, you can make the maximum of your student loans and your education - and even raise your financial knowledge on the way. And in borrowing, as in education, there's always next year to improve your situation.

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Does Financial Aid For Paying Back Student Loans Exist?

You've finished college and now that your student loans are due, you're in more financial difficulties than ever. So as a student in financial trouble, you need help. Can you get financial aid for paying back student loans?

The truth is, no. It doesn't exist. But you do have some options, and there is some financial help available from the department of education as well.

If you're having trouble paying off student loans, one of the basic options is consolidation. If you want to play this card later, you can get through temporary financial difficult by deferring or forbearing payment. Stafford loans offer deferments but some private lenders do not; they are generally granted for unemployment or other economic hardship, or if you are still studying.

During deferment, you can either pay the interest only, or you can capitalize the interest, adding it to the total debt and paying interest on the interest after the deferment period. If your loan is subsidized, the government pays the interest during the deferment. If your loan was a need-based subsidized federal loan, you will receive help in this form if you have trouble paying back your loan.

Lenders may or may not allow a forbearance due to extreme circumstances. Generally they last 12 months, and interest continues to accumulate in every case.

Avoid defaulting a student loan. You can lose access to financial aid or social security services, your wages can be garnished, your tax returns withheld, and your professional title suspended or revoked.

If you're in danger of defaulting or just want to spread your debt over a longer period of time with a lower monthly payment, you can consolidate the loan, either through a private lender or with the Department of Education.

This is the only way to actually reduce the amount you have to pay with help from the government; if your debt is consolidated there are different plans you can use that will allow you to pay the debt in a way that is convenient to your situation. If your situation changes, you can switch between plans as well.

You can pay off the loan in steady payments over a long period of time, or extend it for up to 30 years (or more with some services) with lower monthly payments but a higher accumulated total. You can opt for a graduated plan, allowing you to pay lower payments now to give you a chance to get out of financial trouble, and the payments increase in steps over time.

There are also income-based plans. In these plans, your income is taken into account as well as your expenses and household size, and if you are impoverished you do not have to pay. The downside is that in order to get out of paying the debt, you have to remain in poverty the rest of your life.

While there is no financial aid for paying back student loans, the government and private lenders do offer options to ease the actual financial burden of the loans.

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How To Apply For Student Loans

Going to college on your own can be difficult enough, but to add the bill for your 4 years is even worse. Paying for school on your own is not something you can easily do without a great job or extra money. If you want to concentrate on your school work why not take a look into student loans? These are extraordinary for covering all of the expenses that you need to get through college.
When the word loan comes to mind you may think of something that you need to have a lot of credit to qualify for. The fact is this is a terrific means to actually get the credit that you need. From there you can easily get yourself an dorm room, cell phone anything that needs a certain amount of credit.
Try and figure out how much funds you think you are going to need in order to get through your first semester. The easiest way for you to plan financially is going to be one semester at a time. Try not to get into too much debt and base the amount of the loan on the amount you need to survive every month. Once you have that amount you can start moving on and figure out what else you are going to need.
There are a few prerequisites that you need to make sure that you meet in order to get a student loan. For starters you need to prove that you actually need this funds. Companies will see into your background as well as your parent's financial background up until the age of 25. A company will also value the type of degree program that you have selected.
Before you give up the lend search just yet make sure that you look around at loaners. There are lenders that handle with all sorts of credit problems and well as financial needs. You can look online and when you find a lender you can apply right there! This will make your school year a lot easier.
Another great way to get money for college is through a scholarship. While a student loan will work wonderful for you, scholarships and grants is money that does not have to be paid back. On the other hand, many kinds of student loans do not have to be paid off until after you graduate and complete your program.
Student loans are great for getting through college. Once the tuition is paid, and the books are bought you should be all ready for college. Get searching today and find out what you need in order to get a student loan that will work best for you!

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Finding Graduate Student Loans With Bad Credit

Graduate school scholarships in the form of fellowship and assistance provide two facets to the benefits a student can acquire: financial and academic. With these programs, students would no longer have to worry about finding a source to pay through their college and other entailing costs, such as learning materials and costs of living.

Graduate school fellowships are awarded to graduate students and there are several programs offered depending on the specific field of study you intend to be a part of. For instance, graduate studies to teaching courses can avail of tuition benefits and a monthly stipend. And the good news is, there is no need to repay them.

Graduate school is often the apparent next step for undergraduate students who have a mind in advancing their career and credentials. Yet nowadays, paying for the high cost of graduate school seems a tremendous feat. This seems more impossible when you’ve got bad credit standing in your way of getting a financial loan. Fortunately, there’s a way to get around in getting a graduate student loan even with a bad credit status.

The first source you can tap for financial aid is the United States government’s Financial Student Aid. This type of federal loan often provides better interest rates than private loans. However, students can only borrow a set amount of money due to the limited resources of the capital Federal fund. You will need to accomplish a FAFSA Application form if you want to apply for the Financial Student Aid.

Critical need loans are another type of student financial aid you can tap for graduate school. Critical need loans are available for students who are taking up courses or advance studies in fields that are in high need. Nowadays, the health and medical sciences, particularly nursing and primary care programs, are in high demand. If you are in one of these fields, it might be easier to get approved for this loan despite your bad credit.

Federal funding is typically not enough to cover all the expenses of graduate school. Other graduate students turn to private loans and lenders to supplement federal funding that they’ve received.

Take care to research each lending company first before making a commitment. Make sure that you are dealing with a reputable company and avoid predatory lenders as these can do more damage than good to your credit.

Try to get somebody with a good credit standing or reputation to cosign your loan. Your parents may be some of the best people to be approached for this. A Cosigner is another party that agrees to pay back a part of your loan. This is one of ensuring the approval of your loan even if you have bad credit.

Of course it is also possible to go through graduate school without applying for a student loan at all. Look into your school for scholarship grants, fellowships, and assistantships. Unlike loans, scholarships and grants do not need to be braid back. In addition, these are awarded based on merit so your credit history need not be an issue.

You can use this opportunity to improve your credit standing. You can also use private credit counseling services to manage your debt and loan consolidation to help you payoff your debt.

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Get Unemployed Student Loans with No Credit History Required for Higher Education

In this modern era, to achieve suitable education is very expensive. Every student is not worthy paying for higher education. Keeping in mind unable students, online lenders have introduced special kind of loans known as Unemployed student loans. Through which unable students can construct a strong foundation for higher education.

These loans are specially fabricated to bestow monetary help to those students who are struggling with feeble finacial conditions in order to pursue higher education. These unemployed student loans are also the best options for bad credit students suffering from defaults, arrears, CCJs, IVA, bankruptcy can increase their occasions by having a co - signer. A co -signer can be any for your relatives or parents. With these loans, one can not only avail money for purchasing computer but also pay for tuition fee, hostel fee, mess fee, transportation charges and so on.

The approved amount that can be availed up to £ 13500, the best thing about these is its flexible repayment duration. You can easily pay back the amount after the completion of your education or after achieving a job. You have to start paying the loan installments only if you start earning yearly salary of at least £12000. These unemployed student loans charge feasible rate of interest.

Unemployed student loans with no credit history required are very beneficial for everyone. Students from sound financial background can also get hold of it for higher studies. Feeble financial students can devote their time for studies instead of doing part time jobs and shine in their studies. They can pursue their career without caring about finance.

In order to apply for Unemployed Student Loans with no credit history required, you are absolutely free. Moreover, you do not need to wait for long time, just fill up an online application form mentioning details like the type of loan you want to avail, amount of loan and contact details. The loan amount will be deposited into your bank account within few hours on the very same day.

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Things You Should Know About Student Loan Consolidation

These time education overheads are not cheap, for students from time to time taking loans is their method through colleges. Their trouble seems clear up for this time but they will get hard on the time they are graduated. They are in debt before they can make money. Integration of the student loan program payments for fresh graduates expected to start they can building the repayment of the loans. Here are the tips why you have to think about student loan consolidation.

Because of financial crisis joblessness difficulty is even other uncontrolled a few companies to discharge several employees and some of them are collapsing. You be supposed to choose a consolidation if you are already forecast or struggling of financial problems in the future. Combining all of the student loan to single payment is the process of Student loan consolidation. Essentially you are taking single new larger loan to pay off your other loans. You can reduce your student loan monthly payment with student loan bill consolidation.

You paid your collage education whether with private or federal student loan or both, student consolidation are available for you. Usually federal student loan consolidation rates are lower than the private ones. With federal loan programs are longer payment periods besides reduce interest rates and lower monthly payments. Or if you need a private student loan consolidation, you can choose a new private lender to do so or place with the lender who helped you pay your education costs.

Use this information above for the purposes of learning for more information you be able to contact to your lender.

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How to Select the Right Personal Student Loans

Lenders these days like to make applying for a personal student loan a simple matter but that does not mean you should not be aware of a few facts. It is easy to take the first one that comes along which may not be the one best suited to your needs. By adhering to these rules you should not only get a good deal on the loan but also not be faced with any unwanted charges that can be added on. It is often easy to apply for the first personal student loan you see advertised, by finding a number of companies, it should help ensure you arrange the best deal.

Almost all lenders now have their own websites but sites that are set up to show comparisons are becoming increasingly popular, where it may have taken many hours to find the details you needed previously, it now takes a matter of minutes. Be careful what sort of quote you request because those detailed reports generated when you apply for a personal student loan will require a check on your credit history each time. These checks can have an detrimental effect on your credit rating as each check is listed, so only request basic details of each offer. While a low APR or annual percentage rate will keep the interest on the payments lower, this is not the only condition to look for. Often lenders offering low APR's may well have other charges that have to be paid which make the cost of borrowing higher.

Loan payment protection is a worthwhile option as it will cover the costs of repayments should you be sick or injured. Remember this does not have to be done through the lender. Before you decide on a particular personal student loan insurance protection plan, check how much is covered by your employment contract first. If possible, when you apply for a loan, try and avoid taking out security if the amount you need to borrow is small. Your credit score may not require any form of security anyway.

You will undoubtedly pay a little more for an unsecured personal student loan but you will not have to use personal property as collateral. Watch out for the small print as it is easy to miss important terms relating to payments. This section often contains clauses which may not be in your best interest. Many lenders will charge a premium if you want to arrange an early settlement on your loan and there will probably be other charges that apply if you miss, or even make a late repayment.

Although it may seem attractive to have the lowest monthly figure to repay, try to arrange the loan over the shortest repayment period that is financially comfortable for you. The overall amount you repay is considerably greater the longer the repayment term. This rule is not so important if the loan is for alterations or improvements to your home whose worth increases in time, however, if it is something think about the total interest payments on the loan rather than just the monthly payments. Ultimately though it is important you ensure that you can comfortably afford the repayments when you apply for a personal student loan. The last thing you want is to end up struggling because it becomes a burden.

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The Best Loans To Get For College Students

One thing about collecting loans, especially students' loan is that while you continue your studies you will not be able to pay for the loan except you have graduated. That's why it's only those students who are credit worthy that usually get college loans. Always ensure you have a good credit past before thinking of applying for a college loan.
There are lots of loans available for students who are seeking to borrow funds for college education. For example, the unsubsidized Stafford Loans. As the name implies the loans taken by students are not subsided and they are given based on need. However the policy stipulates that a premium will be continually paid by the borrower through out the period of the loan.
When you are interested in taking a college loan, you will have the opportunity of picking various loans in the categories of federal, state or private. However, you will have to do yourself a good service by choosing the best that will be beneficial to you, because they will not all benefit you, due to the policies and regulations setting them up.
If you are interested in applying for government assistance, you will need to begin by downloading the application form from the government's official website. The form is called the Free Application for Federal Student Aid. When your form is processed, before long you will be smiling to the bank. But ensure you take a lot of care and time to put in the necessary information required and do all you can to legitimately improve your chances, before applying.
If you have taken a college loan and it becomes necessary that you have altered some information in your credentials, it behooves you to alert your financial facilitator. My advice for you is this; you should constantly keep your lenders informed about any alternation on your name, address, phone numbers and even a change of school.
Do you know that federal student loans are so cheap and affordable that you can use them to offset almost every of your needs as far as going to college is concerned? You should choose a federal student loan for the fact that it has the lowest interest rates for student like you.
With private loans you can get the funds within few hours of being approved. Are you surprise? Private lenders work in such a way that your application for a loan can be worked on with the speed of light. You could apply through the internet or via a telephone, and you will be surprised how easy it can be. You see, many people don't know and don't want to know, that's why they continue to suffer these days , when help is always near.
Collecting a student loan does not only help you through your educational career. Rather, it also creates in most students the need to achieve what they have set out to achieve. For instance, when you know you will surely repay that loan you took, that should motivate you to get done with your education in good time and start working hard to repay the loan.

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