Archive for September, 2011

Astrive Student Loans

 

Everyone has high hopes for their lives after high school. Whether they include heading straight towards the corporate ladder, a college education at a stellar institute or entrepreneurship, these choices help shape your entire life ahead of you. If you are leaning towards higher education, having the proper funding is important to make sure that you have the proper funding to complete your education. Though federal funded financial aid programs may help to a certain extent, there may be certain costs involved with your education that may not be covered by them

An Astrive student loan can be described as a private loan which can be obtained by any US citizen over the age of seventeen. Whatever your financial background may be, an Astrive student loan may be obtained if you have a well established credit history. The credit history has to be a spotless one in order to obtain an Astrive student loan if you are applying by yourself. If you are concerned about your own eligibility, you can always ask someone else to co-sign the loan for you. The co-signer also needs to have a good credit history and meet a set of eligibility requirements for you to be able to obtain the Astrive student loan with his or her aid.

The areas the loan covers tuition fees, living expenses and other education related expenses but cannot be used for expenses that are not related directly to education such as recreational trips, college dorm furniture or plane ticket costs for family visits. An Astrive student loan is obtainable by any student whether they are from low income backgrounds or from financially privileged settings as long as they or their co-signers are able to produce good credit history. Where federal loans may impose restrictions on high income backgrounds, Astrive student loan see this as a positive sign that ensures the pay back of the loan.

The obtaining process involves contacting the college of enrolment to verify that you are going to attend it. Therefore, it is necessary for you to have decided on a college, applied to it and accepted before submitting an application for an Astrive student loan. It must be noted that the processing of the loan is different for each college.

The repayment of the loan is somewhat similar to federal loans. You have to start paying back six months after your graduation or termination of enrollment at your college. An Astrive student loan may allow a student to borrow around $40,000 annually within a lifetime limit of $130,000. The best way to avoid high interest rates on repayment is to arrange to start paying back right away which allows more money to be saved in the long term process. In order to avoid penalty interests, it is wise to stick to early payments.

 

 

Student Loans Options – There Is Something For Everyone

 

A soon-to-be college student, you may have already received your acceptance letters and are now focusing on school selection. During the study in the university, the subject of financing your education is a vital factor in the choice of college, you and your parents should investigate options for federal and private loans, while preparating for college. The loan simple registry comparison tool can help you choose the student loan tailored to your specific needs.

Also, consider the following tips in search for student loans:

1. Apply for federal loans first. Federal Stafford Loans are loans for undergraduate students, Parent PLUS and Grad PLUS for graduate students. Federal loans offer competitive pricing, fixed interest rate.

2. Use private student loans to fill funding gaps remaining after having exhausted other sources such as federal loans, personal contributions, grants and scholarships.

3. Contribute as much as possible. Remember that for every dollar of debt that you do not borrow now will save a lot of money in the future. Because the effect of compound interest is not clear to many, pay close attention to the total cost of the loan that is displayed with each loan in comparison, you can find this cmparison at SimpleTuition.com.

4. Compare all the details of the loan. A length of the longer term can help minimize monthly payments, but can also increase the cost of the loan. Interest rates will change the monthly payment and total cost of the loan, so pay attention.

There is no need for a student to worry about bad credit when he or she intends to take new collage student loan. Bad Credit Students have many options in the use of a student loan. On examination of the student loan with bad credit students can take a loan that is suited to their circumstances.

The best way students can avail bad credit loan is to go for loans to the Federal government, which are available with the names of Perkins and Stafford loans. Both loans are designed especially for student’s with bad credit and the loan is approved without going too much into the bad credit. What’s more, despite bad credit the student pays the low rate of interest or the government pays the interest. But the most attractive feature of bad credit federal student loans is that you can repay it when he or she completes the collage studies and earn a good salary later. Then there are PLUS loans given to the student’s parents. Eligibility for PLUS loans is based on the score of the parents. So first explore opportunities for federal loans and you are more likely to get a suitable loan.

However, if you have to choose a private lender, the best way is to take a cosigner for the student loans who has good credit history. Not only a co-signer will help in getting the loan, but also he will be able to contribute to lowering the interest rate based on the good credit score of the co-signer. The responsibility to pay the loan remains with the co-signer. A common feature of the various student loan with bad credit is the flexibility offered by which you can pick up an appropriate payment plan of the many by your ability to repay. Obviously bad credit students have many opportunities and options to get a new collage student loan.

Paying for college and deciding to take student loans can seem overwhelming at first. Understand the difference between federal and private student loans is the first step to making the right decision and get the best financing for your education.

It is important to remember that student loans are debts to be paid. For loans, the payment will start after you left college or dropped to less than half the time.

Federal loans

To find out if you qualify for federal student loans, you must complete the Free Application for Federal Student Aid (FAFSA). The results of the FAFSA will be shared with the schools you state them on the form, and the results will enable schools to award financial aid. After exhausting all other sources of financial aid, federal student loans can help them achieve their goals of obtaining a higher education.

The FAFSA and EZ FAFSA are free forms that can be downloaded or obtained without professional assistance through paper or electronic forms provided by the U.S. Department of Education.

Private Loans

Private loans can help bridge the gap between government student aid you receive and the amount needed to attend the school of your choice. Applying for a private student loan should be considered only after having exhausted all federal loan options for students.

To help students with their costs of attendance, most students will need to borrow student loans. Students can borrow from the student loans available for the cost of attendance. The cost of attendance includes tuition, fees, books / supplies, living expenses and health insurance. Any student loan request for financial beyond the cost of attendance will not be approved.

The Offices of the Financial Aid at universities believe that the lack of financial resources should not be an obstacle to the promotion of one’s education. It is important that students and their families have confidence in the financial assistance provided by the university. The Code of Conduct of the loan was created to ensure the highest ethical standards and promote confidence in the Office of Financial Aid.

Federal Direct Loans

Federal Direct Loans are available for undergraduate and graduate students enrolled at least half time in an eligible degree or certificate to pay education expenses. Borrowers must submit a FAFSA to be considered for this loan.

Federal Parent PLUS Loan

Direct Parent PLUS loans are available to parents of dependent undergraduate students enrolled at least half time in an eligible degree or certificate to pay education expenses.

Federal Graduate PLUS Loan

the Graduate PLUS Loan is a low interest (7.9% fixed), the program of federally guaranteed loans available to graduate or professional students enrolled at least half time in an eligible degree or certificate to pay education expenses.

Direct PLUS Loan, and entry and Exit Counseling

They are required to complete loan counseling before the application is processed for your first Stafford and / or Graduate PLUS loans at the University of Denver.

Federal Perkins Loan

Federal Perkins Loan is a low interest rate (5%) loan available to undergraduate and graduate students enrolled at least half time in an eligible degree or certificate to pay education expenses. Borrowers must demonstrate financial need through the FAFSA to be considered for this loan.

Alternative Student Loans

An alternative or private student loan is a loan based on supplemental education loans from private lenders to help “fill the gap” between their cost of attendance (COA) and the Financial Aid Office can provide. Because the alternative student loans are not subsidized by the federal government, generally have a higher interest rate than federal loans. Students may be required to apply with a co-borrower.

Institutional Loans

Institutional Loans are funds that have been provided by several donors at the University of Colorado at Denver and awarded by the Office of Financial Aid. Eligibility, terms and conditions vary from one loan.

Residency and Relocation Loan

Students enrolled in dentistry, medicine, pharmacy and some other disciplines may be eligible for a loan Residency / Relocation. Home loans are private loans that are expenses related to interviews and relocation of a residence or internship.

Garman short term Loan Fund

Loan Fund short-term Garman was established in 1974 by a legacy of Benjamin Lee Garman. Directive only legacy is that the funds are used for loans and loans that can not be a student who “interferes with or disrupts the educational activities of the university and by the direct action instead of orderly processes.”

Student Loan Debt Consolidation


Debt consolidation involves taking out a loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of service from a single loan.

Debt consolidation can simply be a merging of series of unsecured loans into onne unsecured loan, but more often it is a secured loan against an asset that serves as collateral, usually a house. In this case, a mortgage is secured against the house. The home guarantees the loan and therefore allows a lower interest rate than without it, because in collateralizing, the asset owner agrees to allow the forced sale (seizure) of assets to repay the loan. The risk to the lender is reduced so the interest rate offered is lower.

Sometimes, debt consolidation companies can discount the amount of the loan. When the debtor is in danger of bankruptcy, the debt consolidator will buy the loan at a discount. A prudent debtor can shop around for consolidators who will pass along some savings. Consolidation can affect the debtor’s ability to meet the debts of the bankrupt, so the decision to consolidate must be weighed carefully.

Debt consolidation is often advisable in theory when someone is paying credit card debt. Credit cards have interest rates far greater than even an unsecured loan from a bank. Debtors with property as a home or car may get a lower rate through a secured loan with property as collateral. Then the total interest and total cash flow paid on debt is lower allowing the debt to be paid earlier, incurring less interest.

Student Loan Consolidation;

In the United States, federal student loans are consolidated somewhat differently from the UK, as federal student loans are guaranteed by the U.S. government.

United States;

in a federal student loan consolidation, existing loans are purchased by the Department of Education. Interest rates for consolidation are based on the rate of student loans that year, which in turn is based on the rate of treasury bills to 91 days in the last auction in May of each calendar year.

Student loan rates can vary from the current minimum of 4.70% to a maximum of 8.25% for federal Stafford loans, 9% for PLUS loans. On consolidation, a fixed interest rate is set based on the prevailing interest rate at that time. Rebinding does not change that rate. If the student combines loans of different types and rates into a new consolidation loan, the weighted average calculation will establish the appropriate rate based on prevailing interest rates at the time of the different loans being consolidated together.

The federal student loan debt consolidation is often referred to as refinancing, which is incorrect because the loan rates are not changed, merely locked in. Unlike the consolidation of private sector debt, student loan consolidation does not incur costs to the borrower; private companies make money from the federal government subdidies of the students consolidation loan.

Student loan debt consolidation can be beneficial to the credit rating of the student, but it is important to note that not all federal student loan consolidation loans report to all credit bureaus.

United Kingdom

The rights of UK credit students are guaranteed and are retrieved by a system check of the student’s future income. Student Loans in the UK can not be included in bankruptcy, but do not affect the credit rating due to the payment of people recover from wages in the future students in their home by the employer before rent is paid, similar to income tax and National Insurance contributions. Many students however, are struggling with debt after completing their courses

the level of personal debt in the UK has also increased remarkably in recent years:

“Total UK debt amount at the end of February 2008 was £ 1,421 million. The growth rate increased to 8.9% over the past 12 months.

Concerns;

in recent years, reports of the media have expressed concern about the use of consolidation loans. The concern is that many people are tempted to consolidate unsecured debt into secured debt, usually your home protected. Although the monthly payments can often be less than the total amount paid is often much greater because of the long loan period. Debt consolidation sometimes only treats the symptoms of debt and does not address the root problem. In some circumstances, snowballing debt may be a better solution.

Alternatives

Other options include overburdened debtors credit counseling, debt and personal bankruptcy. Some are consolidation lenders to renegotiate with creditors on behalf of the debtor.

How to Get Students Loans? Information You Should Know To Choose The Best Options

 

If you’re wondering how to get a student loan, this guide provides the steps and summary of the information you need to know to finance your education.

Average student debt is $ 20,000 for undergraduates, as very few students (or their parents) can pay for college without any help. You can definitely add up, especially if the student attends a private, out of state school or college. Some students end up owning more than $ 100,000, not including additional interest payments. Almost 90% of students seeking loans for students to choose a lender recommended by their university, but this may not be the best option, given that many schools receive incetives from the so called preferred lenders.

If you are preparing to start school and know you must rely on student loans to bridge the gap between what you can afford and the cost of your education it is crucial to make informed decisions. Loans that get today will be with you in the coming years, and if interest rates soar, the student loan debt could jeopardize your career choices, your lifestyle and important financial decisions in your future.

Step 1: Determine how much money you need

• Before going further, you need to assess exactly how much money you need to cover the costs of education.

1. If you go to graduate school it is likely that you will be responsible for housing and food expenses, while as a student, these costs can be a factor in enrollment.

2. If you are still comparing offers from several schools acceptance note, check Kiplinger’s list of the 100 best value in public schools to see if you can get a good education for a better price.

3. Take time to list all expenses needed for your budget: tuition, food, shelter, supplies (such textbooks are not cheap!), travel and various items.

4. Use the table of the College Board to enter information about the granting of the aid received for the calculation of the costs are not met and what is the best help.

5. Talk with your family to know exactly how much they may be able to contribute to the costs of your education.

6. If you go to the military, be sure to determine what support options you have.

7. Finish any scholarships, grants, scholarships and work or to offset the costs of education in their school. Research grants you may qualify for, but are not aware of by visiting Scholarships.com.

8. Once you have a final budget and found the sources of the contributions you will receive, now it is time to calculate the amount you will need to borrow using FinAid.org’s “how much to borrow” calculator.

9. FinAid.org recommends borrowing “125% of the difference between college costs and the net amount of income and savings you can devote to paying those costs, rounded to nearest $ 1,000.”

10. You should also consult FinAid.org’s student loan advisor that is used to calculate the average starting salary in your field so you can see what kind of loan payments you can afford. In general, you want the loan payments to equal no more than 10-15% of your income.

Step 2: Learn and understand your loan options

• Many students istate in retrospect that they were not really sure what they were getting into by signing on the dotted line. Be sure to determine exactly what the terms of your loan will be before committing to a lender. Here is a list of questions that need to be answered before getting into any agreement with your lender.

1. The Project on Student Debt provides a list of questions you should inquire from private lenders:

a. what is the lowest interest rate and fee combination that I can get? What will be the last rate of the loan term?

b. If the interest rate is variable, is there a limit?

c. When do I need to start making payments?

d. What happens to my loans if I go to graduate college after my undergraduate degree?

e. What are the penalties for late payments?

f. What are my options to defer or reduce payments to me if I am suffering a financial hardship?

g. Look at the full list for more questions to ask your potential lenders.

2. Like when you buy a credit card, if you find a low rate of a private loan, try to find another lender willing to exceed that rate. Just be sure to close the deal in writing.

3. With federal and private loans, be sure to ask about their payment options, if your loans qualify for loan forgiveness, which the grace period before repayment begins and what are your options if you can not pay. (Can you defer loan payments?)

4. Be sure to note that even if private banks are offering lower rates, only federal loans have fixed rates, which may protect against rising interest rates over time.

5. The Project on Student Debt says:

“Beware of private loans in disguise: Some schools put their own name on private loans, or loans may have other brands that make them look safer than they really are. Lenders often offer federal and private loans, so make sure you know what you’re getting before you sign on the line. “

Step 3: Determine your student loan options

• amid all the excitement of being accepted into college or graduate school, take the time to research how you will finance your education. This could mean the difference between crippling debt and manageable debt.

• Federal loans are the best choice because they are often subsidized by the government (i.e. do not accrue interest while you’re at school), can be locked after graduation at comparatively lower prices and offer more flexible payment terms.

• Loans for Students:

Stafford Loan: There are two types of Stafford loans, those funded through a private lender, usually a bank or credit union (“FFELP loans”) and those funded directly through the U.S. government (“Direct lending”).

Stafford loans are granted subsidies (government pays the interest while in school) or unsubsidized (which you will be responsible for interest payments while in school, but must be able to defer these until graduation). For subsidized loans, students must demonstrate financial need. The general breakdown according to FinAid.org is: “Approximately 2 / 3 of subsidized Stafford loans are awarded to students with adjusted gross income of the family less than $ 50,000, 1 / 4 of the loans are given to students with adjusted family gross income from $ 50,000 to $ 100, 000 and to just under 10 students with adjusted gross income of the family more than $ 100,000. “All students are eligible for unsubsidized Stafford loans. (” AGI “means” adjusted gross income “and his family’s annual income unless otherwise provided by the Government to file your federal taxes.)

What you can borrow with a Stafford Loan: Stafford Loans allow dependent college loan up to $ 3,500 the first year, $ 4,500 the second year and $ 5,500 for each remaining year. Graduate students can borrow $ 20,500 per year, although only $ 8,500 of which is subsidized. There are also cumulative limits up to $ 23,000 for a college education and a combined limit of $ 65,500 for undergraduate and graduate students.

Perkins Loan: The loan is one of the most recommended, as they set an interest rate of 5% and schools to pay the interest while you’re at school. The repayment term is 10 years. Graduate students may receive up to $ 6,000. The cumulative limits are $ 20,000 for college loans and $ 40,000 for undergraduate and graduate loans combined.

 

How to Consolidate Student Loans: The Right Way To Do It

 

High amounts of student loan debt can be difficult to handle, especially if you have several loans with different financial institutions. Consolidating student loans can offer reductions in interest rates or easier to manage your monthly student loan payments. This page includes information on how to consolidate student loans the right way. If the debt of financing your education has become a beast of many heads of many payments with variable interest rates, consolidating your student loans can be the means to achieve a single – possibly lower – fixed interest rate for the life of your loan.

And likewise, all student borrowers should be reminded that once you have used up all your options on deferment when it comes to your current federal student loans, consolidating such loans can actually offer you with more opportunities to defer. The most appropriate time for anyone to consolidate student loans is after his graduation day. For most of the student borrowers, their loans will actually become due at around six months after school has finished. This is a very important time, meant to be a grace period that will allow the borrower enough time to properly organize their student loans and finally merge them via a student loan debt consolidation program. And so the right thing to do is prepare yourself and your loans for the debt consolidation program for a few months until such them when the best time to consolidate student loans has arrived. It is indeed advisable that one does not implement the student loan consolidation up until the grace period has passed.

What happens with the separate, unconsolidated student loans while on the grace period? During this time, the interest charged on the loans will be taken care of by the federal government. However, some are stubborn borrowers and wanted to have the loan consolidation immediately. If you happen to consolidate student loans even before the grace period, then payment of loan interest will fall under your responsibility. You in effect had set the federal government free of their responsibility to pay for the interests because of your early consolidation.

The main benefits of consolidation include a single point of contact and payment, fixed interest rate and the potential to lower your monthly payments. While consolidating your loans can be a good choice, you should research your options, such as student loan consolidation have regulations and the implications that may not be beneficial for all situations

Step 1: Decide whether to consolidate;

there are pros and cons to consolidating student loans according to your particular situation. Before you rush to consolidate, consider the following factors.

Consolidating your loans at a fixed rate means that if rates rise, yours will stay put. Moreover, if there is a sharp drop in interest rates you will still have to pay the same fixed rate. So if you think rates will plummet, it would be best to hold until rates go down.

Make sure you can consolidate your loans, consolidation loans are available for most federal loans, including FFELP loans (which include Stafford, PLUS loans and SLS), FISL, Health Professional Loan Student NSL, HEAL, guaranteed loans and direct student loans. There are also private options available to consolidate private student loans.

You might pay more generally, when consolidating because you are extending the life of the loan (even if the monthly payments are lower). Note, however, that the interest you pay on your student loans is tax deductible. Evaluate the pros and cons of consolidation with your loans in mind to determine whether it is worthwhile to consolidate. You also need to decide whether consolidating all your loans is a good idea, or if you just have to consolidate some of them. Because your rate is determined as the average of your current rates, you may want to maintain a higher rate loan out of the equation.

 

Step 2: Consolidate your federal student loans;

• Consolidating your federal student loans means you will pay a monthly payment and determine a fixed rate for the life of your loan. This rate is generally lower than the consolidation of a private loan.

1. To determine the rate of consolidation of the federal loans, a lender will calculate a weighted average of current loan rates and then rounded to the nearest 1 / 8 %, but not to exceed 8.25%.

2. Calculate your potential consolidation ratios.

3. Your interest rate depends on the type of federal student loans you have.

4. You can set a lower rate of consolidation by consolidating during the grace period (the months immediately after graduation, which most lenders will require you to return). Consolidation during the grace period, while ultimately help because your interest rate is lower, will be forced to return immediately, even if there were a few months before the scheduled payments would begin.

5. Note that you can not consolidate loans if you are in school.

6. And under no circumstances you should pay a fee to consolidate your federal loans.

 

Step 3: Consolidate your private loans;

it is possible to consolidate private loans as well, and this opportunity can be worth it if your credit score is higher now than when you took out the original loan. You may be able to consolidate your loan with your original lender. Maybe it’s better to start there to see what rates are available to you. If your lender is offering a rate of consolidation that is attractive, you need to shop around to find the best consolidation opportunity. Please note that private loans are based on the consolidation of your credit score and / or your co-signer. You can get a lower rate if you applied to have a co-signer who has excellent credit. Be sure to research all associated costs before determining that it is economically advantageous to consolidate your private loans.

 

Step 4: Follow the news about Student Loans;

Keeping up with the news of student loans if you have not yet consolidated all loans, this will help you determine if it is a good idea in the future. It might be worth your financial aid department to see if they have an opinion on its consolidation plans or recommend a particular lender. Use the non-profit of resources to find information about different lenders or contact for legal or financial help.

Twitter Delicious Facebook Digg Stumbleupon Favorites More
New Blackberry phones on sale | Thanks to Business Opportunity, Highest CD Rates and Registry Software