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Understanding Federal Student Loans
from:Federal student loans are not available through every college or university, the school must be part of the federal aid programs that are monitored and administered by the United States government to be eligible for federal student loans and programs for students. These federal student loans and aid programs are actually very diverse in nature and not all federal student loans are the same. Understanding the differences between the various federal and private student loans options can allow students to make the best possible choice for their education funding.
Typically the federal loans will be available for specific types of programs that are limited to two or four year undergraduate programs or those at approved trade schools. The schools may be public or private, however the school itself must qualify before students attending the program at the campus will be eligible for a federal loan.
A Stafford loan one of the many federal student loans that students can apply for. Stafford loans will be available to almost any student, regardless of their financial status, credit score or their ability to have a co-signer. Stafford loans may be either subsidized or unsubsidized, depending on the specific financial situation for each individual student that applies. Stafford loans offer a standard deferment or grace period that allows graduate students to wait to start paying for the loan until six months after graduation or three months after they change from a full-time to part-time student. This extra time before repayment starts gives students a chance to find a job and get a few paychecks in the bank before starting the loan payment. There is a limit on the amount of funding for a Stafford loan and these limits are rather low $3500 to a high of $5500 for undergrads.
Subsidized federal student loans are ideal for students that have limited financial resources or have large debt. A subsidized loan will not have any interest attached to the loan on graduation. This means that the student is only responsible for repaying back exactly what they borrowed, without the additional interest. Unsubsidized student loans do have interest attached and students can either pay the loan plus interest when they graduate or they can pay the interest while they are in school, decreasing the final payment on their loan when they graduate. Depending on the student's financial situation, class and course workload and other contributing factors either subsidized or unsubsidized federal student loans can be important in getting the financial means to complete college or university undergraduate programs. It is important to note the federal student loans can only be granted for educational purposes and within the restrictions of the Higher Education Act.
Help With Private Student Loans Specific links
Help With Private Student Loans News
Fitch: Fixed Rate-Private Student Loans Could Spur Growth - MarketWatch (press release)
Fitch: Fixed Rate-Private Student Loans Could Spur Growth MarketWatch (press release) NEW YORK, May 24, 2012 (BUSINESS WIRE) -- Fitch Ratings believes the introduction of fixed-rate private student loans represents a competitively priced, privately financed option for students. That said, the choice between fixed- and variable-rate ... Private Student Loans Are Becoming More Competitive |
Discover Announces Fixed-Rate Private Student Loans - MarketWatch (press release)
 U.S. News & World Report | Discover Announces Fixed-Rate Private Student Loans MarketWatch (press release) Discover also advises students to consider federal student loans and to compare all the features of federal and private student loans to see which loans best fit their needs. Discover requires school certification to help prevent students from ... Five proposals to solve student loan crisis TEXT-S&P takes var rtg actions on 12 Sallie Mae prvte st ln ABS dls Student loan price war: Banks vs. feds |
Carol Todd's Student Loans Forgiven Because She Has Asperger Syndrome - Huffington Post
 MyFox Philadelphia | Carol Todd's Student Loans Forgiven Because She Has Asperger Syndrome Huffington Post But a lawyer for a former law student trying to "discharge," or obtain forgiveness, for more than $300000 in student loan debt recently found a way. Asperger Syndrome, considered a high-functioning form of autism. According to the legal news site ... Asperger's Syndrome Qualifies Ex-Student to Discharge $340000 in Loan Debt |
WHAT? Private student loan over federal? - HLNtv.com
 USA TODAY | WHAT? Private student loan over federal? HLNtv.com Smart Money magazine found that for the first time in history, you could find a lower fixed rate on an unsubsidized student loan from a private lender than you would get under the federal student loan program for unsubsidized student loans. Five proposals to solve $1 trillion college loan crisis As Student Loan Default Rates Rise, Is the Law School Bubble Bursting? Student Loan Bankruptcy: Not A Free Ride |
Colleges Can Reduce Risky Private Student Loan Borrowing, Study Shows - U.S. News & World Report (blog)
 Business Insider | Colleges Can Reduce Risky Private Student Loan Borrowing, Study Shows U.S. News & World Report (blog) All this reminded us that the Institute for College Access and Success discussed how colleges and universities can make sure students maximize federal aid before turning to private loans in their July 2011 study "Critical Choices: How Colleges Can Help ... Amid student loan tussles, more seek "forgiveness" Be Very Afraid Of The Dangers Of Private Student Loans 4 Most Common Student Loan Problems And How To Fix Them |