| |
Have you wondered what exactly is up with
ns student loans
Parent Loans or Student Loans what is going to be best for my child?
Parent Loans or Student Loans what is going to be best for my child?
At least 20% of college students need some type of loan to help pay for their college education. Such a statistic can lead to students graduating with an unmanageable debt load. An alternative is for parents to help out by taking out loans themselves. But which is the better option student loans or parent loans? Each has distinct advantages and uses.
Federal student loans
Federal student loans have the lowest interest rates and best repayment options. If you need to take out loans and you qualify for federal loans, this is your best choice. Just be sure to accept only the funds you need, even if you are offered much more. Parents can always help their children pay off these loans once repayment begins after graduation.
Federal parent loans
PLUS Loans (Parent Loan for Undergraduate Students) are another loan option that comes with low interest rates. If you are a parent with dependent students attending college at least part-time and you have a good credit history, you are eligible to receive a PLUS Loan. These loans are not needs-based. You can borrow up to the total cost of undergraduate education expenses, minus other financial aid already received. Unlike federal student loans, payment is not deferred until after graduation; instead, your first loan payment will be due about 60 days after the loan is disbursed. Also unlike federal student loans, PLUS Loans require an application fee.
Private loans
Both students and parents can take out private loans to cover funding gaps. Terms are basically the same for these loans, although students may be able to have their repayment deferred until after graduation. Another consideration is that students may wish to take out small loans to begin to establish a credit history. You may need to cosign for private student loans.
Other options
Parents do have some additional options for college funding, such as home equity loans. These often have rates as good as private loans.
So which type of loan should I get?
This really comes down to a personal decision. Ask yourself these questions as you are trying to decide:
-What level of debt do you feel is manageable for your child to graduate with?
-How important is it to you that your child takes responsibility for paying student loans?
-Will you and your child work out a repayment plan to repay PLUS Loans and other parent loans?
This article is distributed by NextStudent. At NextStudent, we believe that getting an education is the best investment you can make, and we're dedicated to helping you pursue your education dreams by making college funding as easy as possible. We invite you to learn more about Parent Loans or Student Loans at http://www.NextStudent.com .
About the Author
My goal is to help every student succeed - education is one of hte most important things a person can have, so I have made it my personal mission to help every student pay for their education. Aside from that, I am just a pretty average girl from SD.
More Useful Resource and Updates on ns student loans
- Excerpts from editorials in Florida newspapers (Miami Herald)
Here are excerpts from editorials in newspapers in Florida:
- College debt a heavy burden (Minneapolis-St. Paul Star Tribune)
Saddled with big student loans, this young couple rents out their basement and taps their line of credit to make ends meet.
- Top Scoops (Scoop.co.nz)
Contrary to her Joe Six Pack, hockey mom hokum, Sarah Palin proved in her debate with Joe Biden that she would fit in extremely well in Washington - albeit at an enormous price to the rest of the country.
- Warning About Accepting Debt Reduction Assistance (News Channel 5 Nashville)
During tough times many people are willing to do just about anything to wipe away their debt. Now more than ever scam artists are feeding off the desperation.
- 101 Ways to Save (The Charlotte Observer)
Food is expensive, gas remains stubbornly high and winter's big heating bills are coming. Since loans are tough to get and our retirement funds are shrinking fast as the stock market crashes, we're sharing thought we'd share some old-fashioned penny-pinching tips. Some come from readers who responded to business reporter Sue Stock's request for suggestions. Others come from the misers on our ...
- TURNER: Lenders, schools profit on high-interest student loans (Daily Nebraskan)
Some of today's government policies make me scratch my head and wonder what they are doing up on Capitol Hill. College is expensive, and it is important to look at it as the $86 billion business that it is. Students have to ask whether an expensive college education is worth the money.
- NEWS: Candidates stress college affordability (The Dartmouth)
The 2008 presidential nominees, Democratic Senator Barack Obama and Republican Senator John McCain both cite the affordability of a college education as a key priority in the upcoming election, although their strategies differ. McCain seeks to increase the efficiency of current offerings while Obama plans to expand college tuition tax credits, Pell grants and other forms of scholarships.
- Help on loans, budgets, investments, more (MSNBC)
This week, TODAY financial editor Jean Chatzky tackles reader questions about consolidating student loans, selling a home, budgeting with an irregular paycheck and more.
- School asks board for cash advance to pay teachers (Live 5 News Charleston)
Charleston, SC (WCSC) - A Charleston County charter school says they won't have the money to pay their teachers on Friday. Officials from Greg Mathis Charter went before the Charleston County School District to ask for help because they say they simply fell short when it comes to enrollment numbers.
- Decade of financial leverage (The Hindu)
It is the present decade though that has witnessed a real explosion of financial sector leverage.
- Student Loans
Student Loans. How To Apply For Student Loans. studentloans.EDnet.ns.ca. Student Assistance Office administers: Canada Student Loans and Nova Scotia Student. Loan ...
- student loans
- Nova Scotia Student Loans, NS Student Loans - Astrive Student Loans
The following is a list of schools eligible for the Astrive Student Loan in the state of Nova Scotia. ... school in Nova Scotia for the Astrive Student Loan. ...
- Department of Education - NS Student Loans / Government Programs
... Students > Funding Your Education > NS Student Loans / Government Programs ... The Student Loan Online Application System has resulted in Nova Scotians getting ...
- Why NS Student Loans Suck
... student loan through the Nova Scotia Department of Education's student assistance program. ... Each year, NS Student Loans lose important documents I send them. ...
- Student Loans
NS. NT. MB. NB. NF. NU* *Students from Nunavut contact 1-877-860-0680 for Student Loan Application. ... student loan, many banks offer personal student ...
- Nova Scotia Student Assitance
Includes an online student loan application form, FAQ, contact information, and more.
|
|
|
