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Student Loan
Student loans are loans offered to students to assist in payment of the costs of professional education. These loans usually charge lower interest than other loans, and are also usually issued by the government. This article details how the systems work in different countries.
Student Loan Basics
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Student loans are loans offered to students to assist in payment of the costs of professional education. These loans usually carry a lower interest rate than other loans and are usually issued by the government. Often they are supplemented by student grants which do not have to be repaid.
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There are two sources for student loans -- the federal government and private lenders. In order to obtain most federal student loans, you will first need to file the Free Application for Federal Student Aid (FAFSA). In most instances he FAFSA is required for all federal financial aid including federal student loans. There are four main federal loan programs:
- Federal Stafford Loan
- Federal PLUS Loan
- Federal Graduate PLUS Loan
- Federal Consolidation Loan
You can learn the ins and outs of each at their respective pages on this site. The Federal Stafford loan is made in the name of the student, is based on need (only the subsidized portion), does not require a credit check (it's guaranteed by a private guarantor and backed by the government rather than credit/income/assets, etc.) and does not have to be repaid until after the student graduates, leaves school or stops attending on at least a half-time basis. Some schools offer Stafford loan directly through the federal government. These are commonly known as Direct Stafford Loans. The schools that offer Direct Loans are known as Direct Lending Schools. Other schools offer Stafford loans through banks or other lenders. These schools are commonly called FFEL schools (Federal Family Education Loan). In order to obtain a federal Stafford loan through a FFEL school, you will need to choose a lender.
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Article
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Student Loan
Borrowing Student Loans Responsibly
Financing Your Education Your Future Is In Your Hands
Student Loan Consolidation Getting Out Of Debt
Student Loan Repayment Tips For The Life Of Your Loans
Dangerous Default Get Out Of It
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