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Student Loan Programs Options
May 31st
Most students will not be able to get their entire college tuition paid for using only grants and scholarships. That does not mean the high costs of college tuition has to keep a student from getting his or her education. There are different types of student loan programs that can help fund a student through their college years. The following are a few options that students have when picking a student loan program.
A lot of students end up using Sallie Mae’s student loan program. Sallie Mae is considered the top student loan provider in the United States. If a student needs a Private student loan or a Federal student loan Sallie Mae is the place to start. It does not matter if the student is already in college or is getting ready to start a new college degree Sallie Mae will most likely be able to provide them with a student loan.
Federal loans that are received from Sallie Mae can usually be used for living expenses as well as paying for college tuition. Living expenses for college usually includes things like a place to live (rent), a computer for school use, and even food. These federal loans offer a lower interest rate than private loans and usually have limited fees.
Undergraduates will also find many private student loans from Sallie Mae, including the Sallie Mae Smart Option Student Loan. This loan is for students that still need money after using all scholarships and grants and allows students to borrow up to the full cost of education.
Worried about leaving the country to further your education? There is no need with Sallie Mae. They offer international student loan programs as well. So, a student planning on studying overseas (studying abroad) can get a student loan to help cover the costs of their education. With decent rates and minimal fees the international student loan program from Sallie Mae gives you flexible repayment options.
The United States Governments can also help out a student in need of money for their college tuition. They provide another option apart from Sallie Mae, but it could be more difficult to get enough funds to cover a students entire education costs. These other two options are PLUS loans ans Stafford loans.
If a student needs money for tuition and a Stafford loan is available the student should take because they are usually the best case scenario repayment wise. With fixed interests rates reaching a low 6% and the fact that these student loans can be used for any type of college expense Stafford loans are a popular choice when available. A student will need to fill out a FAFSA in order to be able to receive a Stafford loan.
PLUS loans are the second type of student loan that the U.S. Government gives to students. Like most processes for getting money for college a completed FAFSA is required in order to be in consideration for a PLUS loan. PLUS loans are like other loans in that they are given to undergraduate students, but they can also be taken out by graduate students or parents of a student. As with Stafford loans, PLUS loans offer a low interest rate which makes them easier for the student pay off.
These are a few student loan programs that are available to students. Finding a student loan can seem like a daunting task especially when looking at all the costs and numbers, but not everyone can get their education cost completely covered by scholarships and grants. Student loan programs help you pay for a student’s education costs so they can focus on learning and not on paying.
About the Author:
About the author: Max Hargis has some great information on student loans. Find out how to get a student loan and read more on the various options for getting a student loan. You are welcome to reprint this article – but get your own unique content version here.
Avoiding the Scholarship Con Artists
Jul 17th
It happens every year. High school seniors and their parents are defrauded by scholarship scammers; people who promise to help them land scholarships and financial aid they wouldn’t otherwise receive.
One financial aid organization believes these scammers defraud families out of more than $100 million dollars a year.
Because college costs scare nearly all of us, and because many people do not realize that there is money available to help them send their children to college, these scammers have found it very easy to find and exploit their victims.
The first contact between the scammers and their potential victims is a letter offering expert advice and assistance.
The letters look good. The letterhead design, the font style, and other elements are calculated to give the appearance of an established, legitimate organization. And, that can be all it takes to fool families…to get them to take the next step on the path to being scammed.
In nearly all the letters they send, the con men begin by reinforcing families’ fears about their ability to meet college costs.
Once they have stated the problem…paying for college…they assure you they can provide the solution. They may offer to “teach you the secrets of financial aid”, “locate millions of dollars in unused scholarships”, or otherwise help you take advantage of their special expertise.
The letters are not always the same, but one element is. They invite you to come to a hotel function room or other reasonably large venue to learn more about financial aid and scholarships, at no cost. Sounds like a no-brainer, right? If you think so, think again.
The gathering, whatever it is called, is a well rehearsed sales pitch. The gist…you need money, we can help you get it. And, nowhere do you get the one piece of information you need most…everything of value these people can offer you is available elsewhere, for free.
After the group presentation, families are invited to meet individually with staff members sometimes called counselors. In the world of sales, these folks are called “closers”…folks trained to close the sale. Their job is to get families to sign a contract and pay a fee of up to $2,000 before leaving. Unfortunately, they succeed all too often.
Every year, a new set of potential victims come along. But, you and your family can avoid these masters-of-rip-off by turning to the people who really do have your best interests at heart…school counselors and college financial aid professionals.
About the Author:
Daniel Z. Kane is an educator who produces websites on online degree programs and online college degree programs at the graduate level.