Are you sick of paying interest on your monthly student loans with no end in sight? Afraid of cash-flow problems that may prevent you from paying your student loans on time? I know I was and there is a solution to this problem.

1. Student Loan Interest Rates
For more information visit http://studentloansinterestrates.org
Applying for a
Student Loan for college

2. Applying for a Student Loan for college
It seems as though it is easier to get a student loan for college these days. The hard
part about how to get a college student loan is "getting a good interest rate." Some
people spend years repaying their college student loans. I bet they never imagined
how long it would take to to repay their student loans.
It has become very convenient to apply for a student loan for college. You can be
approved for a student loan quickly. Even if you have bad credit you can still get
approved for a student loan.
More than likely you may have already received mail or email regarding your pre-
approval for a student loan. The catch with these offers is the terms of the student
loan. The main objective of the sender is to try and lock you into thinking you qualify
for a student loan, without paying much attention to the terms of the loan. Then they
hit you with high interest rates and high monthly payments once you graduate.
Repaying a College Student Loan
There is a high number of college students who graduate in debt. They took out a
student loan for college and are becoming overwhelmed with monthly payments
which results in Student Loan Debt. Fresh out of college a good job plus financial
freedom. Exactly that makes it so easy to want to put your payments on student loans
"off" so you can buy a car or rent an apartment.
This is not good because to avoid student loan debt repaying your student loans has to
be a priority once you graduate. Think logically or think "student loan debt."
Some students have graduated and have no clue about their student loan payment
options. This happens all of the time because a lot of college graduates do not know
where to find information regarding their student loan debt.
Student Loan Debt Relief
Is there a solution for student loan debt? If you need more financial freedom from
your student loans your lender won't mind extending your student loan payment time.
This is because they will still be paid, just over a longer period of time.
Usually this results in the student paying more money over time with these low

3. monthly long term payments. Student debt relief? Absolutely 15 years later when you
finally finishing paying off your loan.
College Student Loan Alternatives
A scholarship is the first thing that should come to mind when you think about
college tuition. Contrary to this a student loan should be your absolute resort. Before
considering a student loan following these steps will help you make the best out of
your college financial aid query:
1) Apply for Scholarships
2) Apply for Grants
3) Apply for student loans
4) Take advantage of Student Loan options
5) Don't fall victim to Student Loan Debt
The steps listed above start with free sources of financial aid for college. The last few
steps of applying for student loans and making payments.
When you can't get any scholarships or grants and you need a student loan you
should take the following steps:
Find a good Student Loan -Lender
Compare rates to accomplish step 1
Have someone who can be a co-signer of the student loan
Try to be in good credit standings

4. Get a few free credit reports to accomplish the previous step
When you find a good rate think about the long term
Don't get rates that you can't pay when you graduate college
Began making payments immediately upon graduation (with the exception of the
grace period)
Student Loans for College Recap
When applying for a student loan for college, understand the terms clearly.
*When repaying a college student loan make it a priority and understand your grace
period options.
Shop around for the best student loan interest rate and payment terms.
Remember it is a loan for college, don't let the payments linger for 30 years. It is
strongly advised that you consider all of your sources for free college financial aid
before considering a student loan. Follow the appropriate steps listed in this article
and you will find financial aid for college or have a better understanding of how to
approach Student Loans for College.
Students and families are often confused with the variety of options available when it
comes to financing a college education. There are a myriad of options, from college
scholarships and grants to federal and private student loans.
As part of the Higher Education Act of 1965, President Lyndon Johnson created this
law which was intended "to strengthen the education resources of our college and
universities and to provide financial assistance for students in postsecondary and
higher education." This increased all sources of federal funding provided to
universities and added in grants and other forms of financial aid.
Grants and other forms of financial aid
The Federal Stafford Loan is available to both undergraduate and graduate students
enrolled at least half-time at a college or university accepting federal aid. This is a
need-based program in which undergraduates may borrow up to $5,500 per year in
subsidized funds based on academic level and graduate level students may borrow up
to $18,500 per year (up to $8,500 in subsidized funds and the remainder in
unsubsidized funds). The funds are sent directly to the school and are applied to the
student's account.
To ease the financial burden, payments are not required until six months after the
student graduates.

5. Student Loan Interest Rates
For more information visit http://studentloansinterestrates.org
When looking to apply for a Stafford Loan, students should see what types of
borrower benefits each lender is offering. As these student loans are all fixed at the
same interest rate set by the U.S. Government, lenders are offering incentives to
borrow by way of discounts, such as waived fees, rate reductions for early payment
and cash back.
While a Federal Stafford Loan is certainly a necessary start, it doesn't always cover
the entire cost of education. A Parent PLUS Loan is a common way that parents
contribute to their child's education. This credit-based loan allows parents to borrow
the total cost of undergraduate education including tuition, room and board, supplies,
college fees and more, minus any other aid received.
Once the loan has been put into the student's account at the school, repayment begins
shortly thereafter, at which time the student loan consolidation process can be
performed. At a fixed interest rate, the Parent PLUS Loan is an easy and cost
effective solution to help bridge the gap between Stafford Loan funding and the cost
of education.
Options for Student funding
For many years, graduate students were only given Stafford Loans as a federal loan
option for funding their often costly education. The difference was made up through
home equity, savings, salaries and private loans. However, the Graduate PLUS Loan
is a new product that became available to graduate students in 2006. Graduate
students with good credit can apply on their own signature for a loan up to the cost of
education, minus any other aid received.
The Graduate PLUS Loan can be applied to tuition, room and board, education
supplies, lab and travel expenses. The interest rate is fixed and payments are not

6. required while enrolled in school.
Upon graduation, borrower benefits kick in to help students save money during
repayment. Or a student may save even more by consolidating this loan using the
federal loan consolidation program. The Graduate PLUS Loan truly provides
graduate students with a great option to making their graduate education dreams a
reality.
The Perkins Loan is another federal loan available to both undergraduate and
graduate students offered on the basis of financial need, other aid received and
availability of funds at each school.
The federal government lends schools funds for distribution to its neediest students.
The school, therefore, is the lender, and undergraduates may be awarded up to
$4,000/year and graduates may be awarded up to $6,000/year.
These loans need to be repaid directly to the school and have a fixed 5% interest rate
since the program was started. Students can take advantage of a nine-month grace
period and a ten-year repayment term. However, if consolidated with any existing
federal student loan, including Stafford or Graduate PLUS Loans, this can extend the
repayment term.
Consolidation has been mentioned a few times and it's really in the best interest of
students to take advantage of this upon graduation. Each federal loan, on its own, has
a 10 year repayment term, regardless of total loan debt.

7. Consolidation fixed the interest rate and extends the repayment term, allowing more
time to repay an often hefty federal loan debt.
Named for Senator Claiborne Pell, the Pell Grant was established to provide funds
that don't need to be repaid directly to the neediest students. This is because it is a
grant and not a federal student loan. However, like the Stafford and Perkins Loan,
eligibility is based on need, as determined by the cost of attendance and expected
family contribution. Since 2003, the maximum Pell Grant award has been $4,050 per
academic year. However, due to the rising cost of education, many question why the
Pell Grant award has not also increased. The Pell Grant covers, on average, one-third
of the yearly cost of education at a public four-year institution.
However, twenty years ago, it covered close to 60%. On February 15, 2007, in an
attempt to slowly combat this issue, President Bush signed legislation into law that
would increase the Pell Grant to $4,310 for the 2007-08 academic year. The
following year, the grant will increase to $4,600 and up to $5,400 by the year 2012.
These advances are certainly helping students and families fund the cost of
education, especially as tuition costs continue to rise
Private student loans
Private student loans have gained popularity over recent years as federal funding
hasn't quite met the entire cost of education. There are many other costs associated
with education, besides just tuition. Commuting students need to cover transportation
costs somehow. City campuses don't always guarantee housing, which forces students
to find an off-campus apartment, often with high rent costs. There are costly
textbooks to purchase, lab supplies and flights home that aren't always covered by
traditional financial aid. Private loans originate to students by a bank or other
financial institution, unlike federal loans.

8. Private student loans also offer similar benefits to students as a federal loan, such as
deferred payment until graduation, different loan repayment terms, and borrower
benefits. The interest rates on private loans vary from company to company and are,
usually, on a basis of credit. Co-signers are a great way for a student who may have
limited or no credit at all to get this loan. Because of the varying private loans
available, most parents and families "shop around" until they find their ideal solution.
Student Loans
For more information visit http://studentloansinterestrates.org