Archive for May, 2013

Citibank Student Loans Can Meet The Financial Needs Of Different People


Citibank student loans are private loans designed to function in several categories so as to meet the financial needs of different types of graduate and undergraduate students. As it happens with all student loans in the private market, the interest rates are higher than for federal loans for instance. This means that Citibank student loans should become an option only if you don’t manage to get financial aid from other sources: scholarships, grants, federal loans and the like.

Anyone who’d like to apply for Citibank student loans should get his/her credit report and check it thoroughly for mistakes. The better your credit history, the higher the chances to get lower interest rates. The chances of approval and convenient interest rate increase if you get a co-signer. Your co-signer must have a good credit history, otherwise there’s no point in applying together. International students can only apply for Citibank student loans with a co-signer that has US citizenship or the right to permanent residence.

Citibank student loans allow the co-signer’s release after 24 consecutive repayments by the due date. Two other conditions for this release include the student’s US citizenship or residence and good credit history. Loan approval only takes place after the data in the forms are thoroughly verified. You must be enrolled at least half-time with a certified school and meet all the eligibility requirements. Once you get a loan contract with Citibank, it is important to clarify all the clauses in the contract and thus know your rights and obligations.

This means that you can get some interest rate reductions if you meet certain criteria. Find out everything about repayment, deferment and all the possible fees that apply to Citibank student loans for the full extent of the contract. Citibank student loans cover tuition, books and supplies, special equipment, room and board and special fees like late registration, parking permits and other similar expenses. Do not borrow more than you need because you will pay back an exorbitant sum. Closely evaluate your education expenses and see what other funding sources you can use.

If you have some savings or a current income, they could reduce the amount you take in the form of Citibank student loans. In case you qualify for Citibank Graduate Student loans then you may look further into the possibility of tax deduction for the interest rate. Two special types of private loans here are dedicated to Law and Health students. And each category of Citibank student loans comes with its terms and conditions.

Chase Student Loans – Interest Rates Depend On Credit History


Chase student loans are private student loans that require certification from the school’s or college’s financial aid system. Chase student loans can be used whenever you cannot cover the costs of your education by using other federal loans, grants and scholarships. The maximum amount that can be borrowed depends on the student category to which you belong. Thus, health education students can borrow up to $250,000, undergraduate students up to $120,000 and graduate students up to $180,000.

The interest rates specific to Chase student loans vary a lot depending on the borrower’s credit history. If you and your co-signer have a perfect credit record, you’ll qualify for an interest rate calculated according to the LIBOR index plus 4.4%. LIBOR corresponds to the rate that banks charge each other for loans. The interest rate can be as high as 12.25% in addition to LIBOR in case you have a very bad credit history. You can improve your credit report by making all the repayments on time. In 36 months of timely payments, your co-signer will be released from the contract.

Chase student loans do not require any fees. The repayment plan can be organized on up to 25 years starting six months after your graduation. While you’re in college, you don’t have to pay anything, unless you choose to cover the monthly interest rate. You can also enjoy a 25% interest reduction if the payments can be automatically withdrawn from your bank account. Lower interest rates are also possible with the support of a co-signer in the loan. The situations can be different from case to case, therefore, you have to file the application and see how well you qualify.

You can get the loan only after the complete verification of the data that you provided in the application form. Moreover, the school’s certification and your enrollment with the institution will also be checked. Keep in mind that Chase student loans are available only for US citizens or permanent residents, and applicants must meet the school’s academic requirements for the entire education interval. Once you get approval for Chase student loans, the money will be sent directly to school. The expenses covered by the loan include tuition, living expenses, a computer and books.

Do not apply for Chase student loans or for any other type of private loan before you have tried your chance with federal financial aid programs. Consider them as a last resort if you can’t get a grant or scholarship.

Bad Credit Student Loans – Consolidate Your Loan While Applying For New Tuition Loan

Bad credit student loans often remain the only option to get access to good education even if you lack the individual financial means to pay for it. Banks are interested in providing solutions for this kind of situations, and the government has designed special loan programs to assist people in accessing good education. There are several things you can do to qualify for bad credit student loans.

A co-signer, preferably a family member with a perfect credit record, will help you get favorable terms and rates for bad credit student loans.

Banks may lend you money even without a co-signer, but the interest rates are much higher. The repayment period, the lent amount and the credit report influence the interest rate specific to bad credit student loans.

Consolidate your existent loans while also applying for a new tuition loan. The approval for such a case may depend on your co-signer.

Federal programs such as Perkins and Stafford are the most advantageous bad credit student loans. Neither of them takes into consideration your credit history, and they have a low interest rate. The only problem is that Perkins and Stafford loans may not be enough to cover the full-cost of your education.

Lots of people who apply for bad credit student loans start from the idea that they don’t have a credit history. That is all wrong. If you have a job, you pay bills or you have any form of credit card, then you have a credit history. In other cases, students have to rely on their parents’ credit history in order to apply for loans.

If you don’t qualify for federal loans, your only solution remains the contracting of a private loan. If you get approval for bad credit student loans, you can start improving your credit report with every repayment you make. Pay the rate on time and when you have 48 on-time payments, you’ll no longer need a co-signer. You are building your credit afterward! It’s in your hands!

Pay attention to shop around even for bad credit student loans! Don’t be overwhelmed by your credit history, and don’t start from the premises that you don’t stand a chance at getting good loan contract conditions. You can really check that by contacting several lenders and comparing their offers, terms and requirements. Then, you’ll be able to make an informed decision and select the situation that best matches your case!

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