Saturday, September 24, 2011
Rahma, Cewek SMA Narsis Palembang
If you begin the process of finding out how you'll pay for college? Financial aid is great - it will help you achieve your educational dreams, but it is a complex process with an increasing number of loan options for students to choose from. Assuming you has examined all possibilities for scholarships and grants, the next opportunity to research student loans. These come in two universal categories: federal student loans and private student loans.
You have all the scholarships can be, but still need money for your education. It's time to look at loans. But which is better than government bonds or private?
If you want to borrow money to pay for your education, you should always look first to bonds. The worst things about the federal education loan, loans are long-term loans with low interest rates are intended for students who need money for their education. They have several advantages compared to other options, including
• The lower interest rates
• Option to defer payments
• The longer repayment terms
• Easier credit requirements
The benefit of certain of these loans Federal Perkins and Federal Stafford Loan subsidy is necessary based, others not. You must fill out a FAFSA to apply for these loans.
The most common federal loans for students are:
Federal Perkins is a small loan to students who have exceptional financial need based on the information on their FAFSA. Students can borrow up to $ 4,000 a year, while students can borrow up to $ 6,000 a year.
Republic Federal Stafford loans are available to pupils and students. The loan amount depends on year, a student at the school and whether they are financially dependent or independent. Your financial aid office of the school determines your eligibility.
Stafford Loans can be subsidized or not. Financial need determines which type of student is eligible. Subsidized loans are based on financial need. The government pays the interest though the student is in school, in deferment, and in your grace period.
Unsubsidized loans are obtainable to all students despite of income. Students are responsible for all interests.
Federal PLUS (Parent Loan for Students) is a lower interest for education for parents. Every year, parents can borrow up to pay for their attendance, minus other aid received (grants, scholarships, student loans, etc.)
PLUS loan is not based on financial need. Applicants must pass a credit check.
Private loans are calculated to enhancement federal loan programs and are obtainable in schools, banks and lending institutions of education. They are frequently used to cover education expenses that cannot be met by federal aid.
Terms of these loans varies from lender and credit history. Keep these things in mind when considering a private loan:
• Private loans have recognition necessities, and you may require a cosigner
• The lender determines the rate of interest and fees that may be unnatural by your credit score
• Private loans can offer options
• Deferral of private loan programs may offer borrower benefits, such as rebates or rate reductions
Whatever type of loan you go, be careful and borrow wisely! All loans must be repaid, whether federal or private. This does not mean that your financial aid federal student loan will pay for everything, they cannot. But you are sure you have got the best price college student you can get started.
Article Source: http://EzineArticles.com/5945373