Tag: educational loan

Education Loan For Students

Our Education Loan For Students aims to finance the dream of meritorious students. We offer easy and 100% education finance to Indians, to study both in India or abroad.

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Healthy Financial Choices for Education Loan Borrowers

Numerous private and public lending organizations offer different types of student loans. Whether it is an interest-free education loan or high-interest one, you need to remain straight and narrow in your 20s. It is a demanding task any given day. Therefore, smart borrowers work on building financially smart habits. So, these are the habits you want to cultivate.

Habit No. 1: Pay Extra When You Can

Some months are tough, others are not. That’s a financial cycle for anyone. Whether you are new to the life of workforce or a jaded executive, cycle of tough and easy won’t end. So, be smart when life is easy. Save up for your education loan repayment. That will allow you to repay easily. Some students get the instant interest-free education loan. That is a deal of a lifetime. But, repayment can be real trouble if you do not cultivate the habit to prepay when you can. These prepayments not only demonstrate your commitment but also put you in good standing. It is an extremely valuable factor when trouble comes knocking.

Habit No. 2: Ask For Help at a Right Time

This habit is important for people whose education loan interest is high. Most private and public organizations do not respect borrowers, who default their loan repayments. So, will you be able to pay next EMI for the education loan? No. Start taking action now. Even an interest-free education loan is a loan and skipping loan EMIs has consequences. So, immediate action is essential if you are not in a financial position to pay next EMI. Contact loan servicer to ask for an extension. If you can repay a part of it, ask for a reduction. If you need to adjust your repayment plan in any way, ask for it. You should contact relationship officer for help.

Habit No. 3: Start on a Right Repayment Structure

Most students have no idea about repayment plans when they accept an education loan. Even an interest-free loan on a scholarship programme needs to be paid conveniently and timely. The right balance of comfort and timely repayments can be arranged with a right structure of repayments. Most loans start repayments in second year after graduation. So, students must understand monthly expenses and build an emergency fund in a first year after graduation. Thus, you can opt for a repayment structure you can afford to maintain throughout the loan tenure. Assess your repayment structure from time to time. This will enable you to pay education loan interest and principal amount on time easily. Due thought at a right time will provide necessary support in repayments.

Source: http://www.sooperarticles.com/education-articles/healthy-financial-choices-education-loan-borrowers-1424905.html

Education Loan

Our education loan aims to finance the dream of meritorious students. We offer easy and 100% education finance to Indians, to study both in India or abroad.

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Student Financial Aid – Background Info and Application Tips

The Financial Aid Offices run rather in a very strange manner.

The universities will not tell you that you didn’t get the financial aid just because you did not apply as soon as the other students. This is why the first most important thing is to prioritize the deadline of submission of your financial aid forms. The deadline may be different for many universities, and your best shot at getting the financial support is if you apply early for the process.

The next thing to keep in mind is to be as accurate and as focused while you’re filling out the Free Study Loan in India form as you can be. If you have made any errors, there is huge chance that your application will be rejected which could cost you a heavy delay. Many students often make a mistake of putting their allowance and tax information in the parents section – make sure you know what you are doing.

Sometimes the parents who are not well off insist that their children also exclude expensive universities from their list of options. On the contrary, the expensive schools might be more affordable than an average school. The reason is when you apply to a school whose tuition fee is less there are very slim chances that you will not get any financial aid and force you to end up paying the entire tuition fee on your own if the tuition is low enough.

As for the universities that are more pricey and famous you can get up to a 100% tuition subsidy in many cases, especially if you maintain good standing at the school. So rather than just give up on what you could have you should at least take a chance as you never know if you could successfully land at any top school and study for free.

Applying for an early decision of acceptance into a university is not the wisest way of getting the financial aid, though, as your chances of getting it are very low to none. Students usually apply for early decision at the top schools way ahead of time on the condition that if they get accepted they will attend that school. Also you can only apply to one university for an early decision. This shows your determination to get into that school which makes the council think that you are willing to pay anything to get an admission. However, if you need financial aid it would be better if you apply on a regular basis as along with other students, especially if you have a good SAT score and a strong academic background and extracurricular activities to back up your application. Applying for government grants can also help you if you’re in a bind, particularly if you have a strong background to begin with.

Trying to trick the financial aid committee is not a very good idea either. These people are clever and good at what they do, so if you’re thinking of trying to manipulate your forms to try to portray yourself as more deserving than you are think again.

Article Source: http://EzineArticles.com/3309117

Loans for Study – Good Financial Tool for the Students

Do you want to fulfill your dream of attaining higher education? Cannot able to do it due to having shortage of finance? Do not want to ruin your educational dream? Looking for ways that can help you to arrange finance for higher education? Stop taking tension! Simply go for the most convenient financial provision of loans for study. These loans can be the best source that can fulfill your dream of higher education in an effective way. These kinds of Loans for College are especially structured for students who are not able to arrange required finance for their higher education. With the assist of these loans they can seek good amount of finance for higher study and to cope with many educational expenses.

These loans are available in two ways that secured Education Loan for study and unsecured loans for study. For entailing its secured loan option you are required to put as of your assets as a security to the lender against the loan. However, the unsecured loans for study so not you to place any sort of security against the loan. The amount will be approved to you on the basis of your needs and pay back abilities. The repayment period of is flexible and tension free.

For the hassle free applying you must go online! Online processing is fast, easy and effortless. Here you can find plenty lenders with different loan quotes. Search well to get better loan deal and to access them at marginally low rate. The amount obtained through Loans For College can be utilized to meet a number of educational needs that can be as follows:

  • Paying food and lodging charges
  • Library fees
  • Buying books
  • Accommodation charges etc.

These loans can be applied by both good and bad credit students. These loans are free from any credit check formality. Thus, no issues if you have bad credit tag due to reasons like arrears, defaults, CCJ, IVA, bankruptcy etc.

Article Source: http://EzineArticles.com/4040542

Education Loans: Equal Opportunity with Unequal Costs

Higher education in a land of equal opportunity is a dream for most students. Providing education to their children is what most parents’ strive to do. Ample job opportunities exist but these go only to the educated. Getting educated can prove costly and only push you further into debt.

This is the reality of the education scenario in the states and in many parts of the world. Education is becoming costly due to increasing specializations, cost of laboratory and other equipment. Government is decreasing the subsidies and offering a solution: “easier loan facility”. The result is student debt trap. The Best Education Loan in India provides the much needed succor to families that aspire to educate their children. Private education loans compete with many governmental packages. Loans seem to be the recourse of many parents and students for undergraduate and graduate studies.

Only those with money can afford studies and this is the lesson that families and students are learning. One in every five graduates has to change career plans due to student debt. The wages for students who work part time and pay for their education has also decreased. After borrowing money to pay off the education students realize that the entry level salaries of graduates are too low to pay off the loans. The interest spirals and thus students end up paying twice or thrice the loan amount. Many cannot pay and land up in debt. A dream of upward mobility and of being in the elite of society has earned a student a life of debt and expenses to be paid to lenders.

Tips to avoid the debt trap

  • Look carefully at various financial options and take education student loans only from government or related agencies at lower rates of interest.
  • Students should try to use the university accommodation or cheaper places of rent.
  • Shop in bulk along with friends. You could avail various free offers that would not be possible if you were to shop for yourself.
  • Make use of your student unions to obtain one-off offers and claim discount using your NUS or ISIC cards.
  • Buy second hand books or borrow them from your seniors. Do not rush and buy new ones. Use the library if you cannot afford to buy books. The internet is also a vast resource for information.
  • If you are working to pay of expenses or loans as student- Fill tax rebate forms that could earn you a rebate on your earnings.
  • Plan your budget and stick to it.
  • Record all your expenses and verify them when your bank statement arrives.
  • If you find yourself still in soup. Get advice from a student advisor at the earliest.
  • Do not get excited about college life and freedom. Prudence is better than landing up in a massive debt in the first semester itself.
  • Student credit cards and other credit institutions target freshers. Be wary of them!

Availing education loans may empower you in education. A little care and watchfulness on the financial front will empower your financial management ability.

Article Source: http://EzineArticles.com/227288

Student Education Loan Facts – An Overview

Preparing for college can be one of the most exciting and challenging times of a person’s life. Deciding on how you’ll finance your education is certainly one of a student’s larger challenges. Obviously, you should exhaust such options as savings, grants, and scholarships first. But when those options fall short of your needs, a student education loan is a logical choice to fill in the gap.

Student loans come in a variety of flavors, with loans tailored for students with exceptional need, and loans for the needs of average students. There are even loans specifically designed for medical students. There are also federal and private versions of these loans.

It is easy to understand how a student would feel overwhelmed with so many education financing options. But like most things in life, there’s a method to the madness. And with just a little insight into the pros and cons of each Education Loan type, students and their parents can see more clearly the options that are best suited for an individual student’s needs.

Of all student education loan options, the one with the most attractive terms is the Perkins Loan. Perkins Loans have an incredibly low, fixed interest rate of 5 percent. These loans also have a longer “grace period” – the time allowed after leaving school before payment is required. Perkins Loans offer a 9-month grace period, as opposed to 6 months with a Stafford Loan. Another huge benefit of Perkins Loans is that they don’t begin to accrue interest until after you have left school.

Your Perkins Loan may also qualify for Loan Cancellation, which could pay back a portion, or all, of your student loan. Federal Loan Cancellation is offered to graduates who agree to work in high-need areas, such as agreeing to teach in a designated low-income school. The downside of Perkins Loans is that they’re not available for everybody – these loans are designed for students with “exceptional need.”

If Perkins Loans are not an option for you, then Stafford Loans are the next best thing. Stafford Loans offer benefits similar to Perkins Loans, with interest rates currently running in the 5 to 7 percent neighborhood – still very reasonable, as loans go these days. Like Perkins Loans, Stafford loans don’t require repayment until after you leave school or drop below half-time student. They also feature a “grace period” of six months before payments must begin.

Stafford Loans are offered directly from the federal government, and are also offered through the use of a private lending institution. Depending on the college you’ll attend, you may have the option of taking either a direct federal Stafford Loan, or taking the same loan by using a private lending institution as an intermediary. With some schools you may have both options. With regard to private lenders, certain colleges may have specific institutions that they regard as ‘preferred lenders,’ but remember that you have the option to seek your own private lender for a Stafford Loan.

If you find that grants, scholarships, and federal student loans don’t cover your needs, private student loans are always an option. Private student loans are a good value, but they generally feature slightly higher interest rates than their federal counterparts, and these rates are generally variable. Because private student loans are not federally-backed, you will likely find that you will need someone, such as a parent, to co-sign for you. Even if your credit allows you to secure financing on your own, having a cosigner is a very wise choice, since this can lower your loan’s interest rate. Lowering this interest rate, even by a fraction of a percent, can make a major difference in lowering the total amount of money you’ll have to repay on the loan.

Unlike federal loans, private student loans may require that you begin making monthly payments while still in school. These payments may be in some reduced form during this time, such as an interest-only payment. Even if your particular loan doesn’t require any type of repayment while in school, it’s still a good idea to send what you can, when you can. Even small irregular payments, made ahead of time, can have a huge effect on lowering the total amount you’ll have to repay.

Student loans, especially the federally-backed versions, are a great value for students and their parents when other funding options aren’t enough. It’s true that the many different types of student loans can be confusing to sort through. But more loan options means you’re more likely find a fit that is better for your specific needs. And by having a basic knowledge of the various educations financing options available, it will be much easier to find the fit that’s right for you.

Article Source: http://EzineArticles.com/3476647