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Getting Financial Aid
Types
Of Aid Available for Undergrads, Graduate Studies,
Distance Learning, Minorities and The Disabled
Comparing Financial Aid Awards
Law
School Loans: What You Need To Know
Here is a table of the most commonly used loan programs and information about
the characteristics of each loan.
Key Questions Families Should Ask-But Often Don't
Samples Of Student Loans & Their Interest Rates (For Year 2005)
Direct Loans—A Better Way
to Borrow (US Dept Of Education)
Increasing Your
Financial Aid Package
Student Guide 2005-06
The Student Guide is the most comprehensive resource on student financial
aid from the U.S. Department of Education. Grants, loans, and work-study are the
three major forms of student financial aid available through the federal Student
Financial Assistance Programs. Updated each award year, The Student Guide tells
you about the programs and how to apply for them.
http://www.petersons.com/
Search here to find the best schools and graduate programs for you as well
as information about financial aid.
Financial
Aid For Grad Students
Finding
Out About Financial Aid (US Dept. Of Education)
Provides general information about the major federal student aid programs (who
is eligible and how to apply), tax credits for education expenses, and other
federal, state, and private sources of information.
Student Guide 2007-08
The Student Guide is the most comprehensive resource on student financial
aid from the U.S. Department of Education. Grants, loans, and work-study are the
three major forms of student financial aid available through the federal Student
Financial Assistance Programs. Updated each award year, The Student Guide tells
you about the programs and how to apply for them.
Direct Loans
Repayment
Exit Counseling Guide
for Borrowers
(download PDF
file [494K])
US News Articles On Financial Aid, Working Part Time,
Remarriage and it's Effect on Financial Aid, Financial Aid Myths, Schools That
Are The Best Values
Brochures From The Direct Loan Program
Repayment Options
Pros & Cons of Loan Consolidation
Consolidation is similar to refinancing a loan but it's not always a good idea.
See when it's good and bad to do so.
Differences
Between Direct Loan and FFEL Program Repayment Plans
The difference between "Pay As You Earn", "Income Based Repayment Plans",
"Graduated-Extended Plans" and Standard Plans. Learn who qualifies and more.
Hardship Deferments Where You Don't Have
To Pay Principle or Interest (Consumer-SOS)
Broke? Unemployed, Pregnant? Have a Low Paying Job? You may qualify for all
sorts of government subsidized repayment plans where you can stop or reduce your
student loan payments, without paying the interest. May also apply to some private loans.
Your Repayment Options
(Nolo.com)
Most lenders offer a variety of repayment plans.
FAQs
On Consolidating Your Federal Loans
Re-consolidate your federal loans at a lower rate and without fees.
FAQs On Reconsolidating Your Loans
Hope for some on getting a lower interest rate.
Direct Loans Online Loan Application
Application for student loans and loan consolidations.
Student
Loan Calculator
Before you borrow or consolidate to a longer repayment term, find out your
minimum monthly payments and total cost of the loan. Just punch in the
amount you owe, the interest rate of the loan, and how long you have to repay
it.
When You Can't Pay: Cancellation, Deferment and Forbearance
(Nolo.com)
How to postpone payments--and when you can cancel your loans altogether.
Deferments
& Cancellations For Direct Loans
Describes the deferments and cancellations for teaching in low-income schools or
shortage areas and connects you to the Direct Loan Program, where you can
consolidate your existing loans. If your loan is in default, our Guide to
Defaulted Student Loans can tell you how to get out of default.
Back To Top
Sure.
Today's economy may be stronger than it was a few years ago. But it all could change by the time you graduate! Just a few years
ago the job market was extremely competitive. New
graduates found themselves fresh out of school and head to head with highly
skilled workers who wanted the same jobs. As a result of this, many
wound up in miserable low pay positions and unable to repay their college
loans. This can happen again. Believe it.
But you may be able to avoid this plight through a little research
and planning. First, find out before you
borrow what your monthly payments will be.
Check out the The
Student Loan Calculator which tells prospective
borrowers their estimated monthly payments and the total cost of borrowing the
money.
Play it smart and also check out
the Dept Of Labor Occupational
Handbook.
The Handbook lists the average salaries in each occupation and the fields which will be most
in demand. If you have firm career
goals, you can use this guide to plan how much to borrow based on an estimate of your potential earnings.
Keep in mind that college freshmen may change majors and often have no
specific career plans. So
if you're the wishy washy type, play it smart and work part time to avoid
student loans.
Also, check to see if your college offers a work-study
program. If you qualify, you could get a job right on campus, earn some
money and avoid loans you're sure to regret later.
One final word of warning: Don't believe the hype put out by college career
offices about how easy it is to get hired. And no matter what they tell you,
don't be fooled into taking out more loans. Remember it's their job to make the
college look good. Don't expect them to level with you about your earning
potential,
especially when times are tough.
Back To Top
Avoiding
Late Payments
Making late payments on monthly installments can really cost you. Some
lenders such as South West Student Services, now assess a 6% penalty on all
delinquent accounts. Thus, a debtor
owing $800 for being two months late will now have to fork up an extra $48 in
addition to the $800. If the debt
becomes three months late, the amount skyrockets to $72.00!
And Now, borrowers who make partial payments are still penalized for 6%
of the full amount due for that month! So
if you pay $398 of your $400 monthly installment, your late fee will be 6% of
$400, not 6% of $2.00.
While making prompt payments can avoid this problem, for some people this is not
an option. If you live from
paycheck to paycheck and find yourself always missing the deadline by a few
days, consider the following:
Some lenders (including South West Student Services) permit you to make monthly
payments directly from your bank account. This
instant funds transfer eliminates mailing delays and makes it easier for you to
avoid late payment fees. Wiring
money under this arrangement can cost as little as $3.25.
But keep in mind that while they post the payment to your account
immediately, it still may take a few days for them to debit your bank
account.
Ask your lender if they allow electronic transfers and the steps you must
follow. Usually, all you need do is
call their special number, read off the numbers on the face of your check and
tell them the check amount. You
should then void the check and keep it for your records.
Your lender will take care of the rest.
Late payments can severely hurt your credit, especially when you're more than
two months delinquent. To protect
your credit, play it safe and at the slightest sign of trouble file for a
hardship deferment or forbearance. Never gamble on the money coming in before
hand unless you're absolutely sure it will do so. Things can and often do go
wrong. And a single miscalculation can be disastrous. It's
better to get the deferment first-you can always change your mind and begin
making payments if your money arrives on time. This protects your credit, which
you'll need
for renting an apartment, or buying the car or house you've always
dreamed of.
Related
Topics
Credit & Debt
Bankruptcy
Back To Top
Student Rights
Student Records-Your Right
To Keep Them Private (ACLU)
Also learn what you can see and what's off limits to you.
Tapping Official
Secrets (All 50 states & DC)
A complete reference work to open records and open meeting statutes in every
state & DC.
Student Rights-Due Process
& Fair Treatment (ACLU)
These Legal Principles Apply Even More So To State & Federal Supported
Colleges.
Student Rights To Free
Expression (ACLU)
These Legal Principles Apply Even
More So To State & Federal Supported Colleges.
Student Press Law Center
The SPLC On-Line Legal Clinic contains ready information on censorship, libel, copyright, freedom of information and other
media law topics of interest to the student press. The SPLC Report: On-line version of the SPLC magazine
What Are
"Sunshine" Laws? (Good Overview)
Freedom Of
Information Laws (Overview)
Access To Electronic Records (All 50
States & DC)
Guide to gaining access to computer records. Includes state Universities and may
extend to schools which receive state and federal funding.
Your Right To Federal Records
Automatic Public Records Request
Letter Generator: (Just Fill In The Blanks)
Use this letter generator to request access to records held by a state or local government agency or body (e.g.,
public school district, public university campus police, state board of health, etc.).
If you want to obtain records held by the
federal government click here.
For More See Consumer-SOS/Public Records