Seven Ways to Reduce Student Loan Debt

Most of my life has been defined by the rhythms of schools: summer vacation, winter holiday, spring break, fall beginning, and end of semester finals. Though I'm never done with learning, I think that I'm
finally done with school. So now it's time to pay back my student loans. Two thirds of undergraduates take out student loans to pay for their education. In 2004, the average undergraduate finished college with $19,202 of student loan debt. And many of folks will incur more with graduate or technical training.
If all of this sounds familiar, you may want to consider a loan repayment program. In exchange for service to the community, many federal agencies will repay portions of your student loans. Your community gets a well-educated and dedicated servant, and you get your loans repayed. It's win-win! Ready to learn more? Here are several programs you may want to consider:

* The National Institutes of Health has a intramural and extramural loan repayment programs for people with doctoral level degrees in health and biomedical sciences. Eligibility depends, in part, on the type of research you do. I hope to qualify for this at some point.

* The AmeriCorps Education Award can be used "to pay educational expenses at qualified institutions of higher education, for educational training, or to repay qualified student loans." As an AmeriCorps/VISTA volunteer, my husband received this award.

* The Nursing Education Loan Repayment Program "offers registered nurses substantial assistance to repay educational loans in exchange for service in critical shortage facilities."

* Peace Corps volunteers "with Perkins loans are eligible for a 15 percent cancellation of their outstanding balance for each year of Peace Corps service."

* The Indian Health Service has a loan repayment program that is aimed at "obtain[ing] health professionals to meet the staffing needs of the IHS in Indian health programs."
* The Federal student loan repayment program "permits agencies to repay Federally insured student loans as a recruitment or retention incentive for candidates or current employees of the agency."

* The Association of American Medical Colleges maintains a list of U.S. programs that "offer financial assistance, in the form of loan repayments, for a commitment to service (generally in an area of need).
Information regarding each program has been provided by state health departments and other agencies, medical and health professions schools, federal programs, and military agencies." Opportunites are in medically underserved ares (often rural or inner-city).

These are some great ways to get rid of your debt. More importantly, they are wonderful ways to make a positive difference in our society.

"It is not because things are difficult that we do not dare; it is because we do not dare that they are difficult." - Seneca

ref: http://www.associatedcontent.com/article/199966/seven_ways_to_reduce_student_loan_debt.html?cat=4

Student Loan Made Easy By CITI Bank

Citi-Bank's student loan services provide a variety of options for student looking for financial aid in the hopes of going to school. The bank provides options for both



undergraduate and graduate students along with special loans for students entering the law and healthcare professions.

The company offers Stafford Loans as well as private loans to help student pay for school. Stafford Loans are loans provided to students attending an accredited institution of higher education within the United States. Stafford Loans are guaranteed by the federal government and the terms and conditions of the loan are fixed through legislation.

Citi-Bank also offers private loans to students which are different than Stafford Loans. Private loans are not guaranteed by the government and, unlike Stafford Loans, are based on factors such as income and credit history making them more difficult to access in the current economic climate.

Applying for a student loan through Citi-Bank is easy and can be done completely online. All the necessary forms are provided to the students online and the process moves very smoothly from page to page. I had little to no trouble completing and filling the forms with Citi-Bank.

I have used Citi-Bank to fund my graduate school education and accessed Stafford Loans through them on two separate occasions. Because I am close to graduating, only three classes left, I have begun to explore the repayment options provided by Citi-Bank to their clients.

Because my student loans are Stafford Loans the repayment conditions are different than had I accessed a private student loan. Stafford Loans allow a student up to 10 years to repay the loans accrued while in school. They also offer deferment and hardship designations for qualified loan holders who are unable to make payments due to unforeseen circumstances.

The Repayment Advisor service provided online has proved very helpful to me in my research and with the aid of the folks at Citi-Bank I have been able to begin to budget for when my loans comes due. I am very happy with the service and have recommended it to friends and family a like.

Unemployment Student Loan Deferment Can Be a Financial Life Saver

Unemployed Graduates Can Delay Their Student Loan Payments by Up to Six Months

It is no secret that the job market is extremely tough for new college graduates. Coupled with the fact that many have enormous amounts of student loans, college graduates are starting their adult life under back-
breaking financial pressure. Luckily there is an option that can give graduates a little breathing room.

Unemployment student loan deferment is available to graduates who have not yet obtained a job after graduation. The deferment length can vary by bank and institution. According to Citibank, they offer a 6 month student loan deferment. Even if you obtain a job during the deferment period, you are still not obligated to begin repaying the loans until 6 months later. This option also has no bearing on your credit. The following requirements must be met to obtain a student loan deferment:

** Have an outstanding Federal Stafford, Supplemental, PLUS or Consolidation Loan.
** Be conscientiously seeking full-time employment in the U.S. in any field and at any salary or responsibility level.
** Be registered with a private or public employment agency if there is one within 50 miles of your permanent or temporary address.
** You will need to confirm your search for full-time employment during the preceding six months when applying for a continuation of an unemployment deferment.
** Re-apply every six months.
** If you obtained your FIRST loan on or after 7/1/1993, you are eligible for a maximum of three years of Unemployment Deferment.
ven though you are granted 6 months free of student loan payments, it may be wise to at least pay off some of the accruing interest. Though your payments have been put on
hold, your unsubsidized student loans will continue build up interest. In order to lower your interest payments, it is recommended you also consolidate your student loans and lengthening the repayment period. Graduate student loans can be lengthened up to 25 years. Of course you must consider that this means a higher total loan payment in the end. Consolidating and lengthening the repayment period can be done through the Federal government. Please check out DirectLoans.com for official information regarding the policies of student loan repayment plans.

In conclusion, unemployed college graduates with student loans should consider applying for an unemployment deferment. It is an extremely tough time for many in this country struggling with college loan payments. Hopefully this option will help get some people back on their feet. It is also important to try and consolidate your loans and lengthen the repayment period. Utilizing all three steps can go a long way toward easing the financial pain.

3 STEPS To Get Student LOAN!!!

Student loans, for a lack of a better term, are a necessary evil. Let's face it. College is expensive - and unfortunately - not everybody is born into a family with large estates and deep pockets.

However, they can also be tricky. After graduation, there are those who successfully pay off their dues, but there are also others who get stuck with mounting interest rates. Unless you want to get caught in the same web, read on!

Step 1: Consider Your Options.

If you're strapped for cash, there are other options available apart from applying. Why don't you try applying for a scholarship or an education grant?

It doesn't hurt to give these alternatives a shot before you start sending letters to student loan organizations.

Step 2: Read the Fine Print.

If a student loan is your only choice, seek out the one that suits you best. Check private companies and federal agencies for a wide range of choices.

Once you've narrowed your list down, read all the terms and conditions before committing to one of them. Look at the payment terms and try to find one that gives you ample time to pay off your debts after graduation, and preferably one with tolerable interest rates.

Step 3: Prepare Yourself.

As early as your first year, it's encouraged that you start saving a little bit of money to pay off your student loans by graduation. Get a part-time job (one that won't interfere with your studies) and cut back on your expenses.

Never mind that you're not due to pay off your loan until after six months post graduation. Do you really want to spend the first few paychecks you've earned after graduation to pay off your student loans?

Loan for study allow everyone the opportunity to get a good education. If you're studying under a Loan for study program, make sure that you don't take it for granted.

How to Apply For College Grants And Scholarships !

No matter your age or despoil of schooling, whether you are an undergraduate (UG) or a graduate student, you need to know the just way to forward for college grants. taking money for college is additional chief than it has ever been. It is and much more difficile than it has ever been. Remember, federal aid and federal loans are two entirely single things. The latter is a tedious hassle. However, the former runs across a downreaching spectrum, only which includes grants. That is what this object will focus on, along with explaining how to experiment about applying for them.

Because the federal loan style is becoming somewhat undesirable, a hovering number of students are eschewing loans largely. Paying them back beside school can be a killer. In lieu of loans, students of every age are trying their luck duck grants instead. Because they are offered by both federal and state governments, they are generally additional available. exceeding oblation is that they do not suppose to equate repaid. The Pell check is the most well known grant, considering well as the largest.

The initial charge to remember about grants, the Pell and others, is that they think out around financial longing rather than academic aptitude. Of course, particular universities and colleges may obligate a recipient to meet a certain trite concerning their academics. On the whole, however, the Pell further other grants flip over it do not depend on your academic standing.

You have to start out by completing the very largely known, somewhat tedious Free strife since state Student support. substantial is also known as the FAFSA form. unaffected encumbrance be obtained several ways. There is a model of it on the internet, although you will craving a peculiar identification number, or PIN; both the form again the PIN are available through the mesh site for the governmental Aid component. You can also roast for hard copies from either the department or the fiscal aid office of your college(s) of choice.

As you fill out the form, a few documents pertaining to your financial rank are necessary. You will devotion your last millstone return also the latest W-2 you have. If you are a dependent student, these documents commit come from your parents. This counsel is needed convenient to the fact that you must be eligible financially to receive the Pell again others like it.

Once you finish the FAFSA, instigate sure that all of the information therein is accurate. Depending on how you submit the form, considering the internet or the mail, you will receive your SAR, aka your recruit Aid Report, prominence a few days or a few weeks. The SAR includes a summary of your FAFSA information, what assistance you are eligible for, the amount, any financial expectations for yourself or your family, and things of that nature. If all of the data is right, you are ready to induce calling the colleges and universities to which you are applying, to see if they have your information.

As you can see, learning to promote for college grants is not that labored. positive does take a syndicate of time and patience, but it is worth it. In appendix to FAFSA, there are lattice sites out slick specializing in slanting contrastive scholarships and grants. They are helpful if you ravenousness further budgetary second.

Consolidate Your Student Loans in 3 Easy Ways

Do you want to consolidate all your student loans fast? Are you sick and tired of the high interest rates? Don't you wish you could just put them together all in one payment? You're not alone as most college students that are graduating are faced with massive amounts of student loans. So many of them are faced with this issue of how they are going to repay it upon graduating and the interest rate on top of that. This can be so overwhelming especially if you don't get a job right away after graduation. Here's some ways I find is helpful for the struggling graduates like me.
1. Find A Company That Will Consolidate All Your Loans
This is very important to do right away because you don't want so many bills piling up on top of your other bills that you don't know which one to pay first. You have to realize that you need help to budget your money wisely so you won't end up paying more for interest.
2. Compare All The Offers To Make a Wise Decision
There will be so many offers to consolidate so pick which one works for you. Some might offer you a long time to pay it back but the interest might be high so judge it accordingly and don't rush to the first one to offer you to consolidate.
3. Have A Budget On How much You Can Pay Monthly
After you have done all your research with your offers it is time to budget your money and see how much you can afford. Pick the best one who can offer you the best deal according to your budget. Always read all the fine lines before signing anything. So if you are looking to consolidate student loans fast these are the necessary steps to be financially free sooner.

Alternatives to a Student Loan !!!

Before you look at borrowing money in the shape of a student loan, have a look at what is available in the shape of savings or other non-loan areas first.

Do you intend to take one or two classes or to do full time learning? Are you going on to receive a scholarship? Is the institution that you are going to accredited?

How much will you need for each semester? Make a list of how much you will need for books and equipment? How much do you need for food and clothing, and are you living on campus or commuting to and from campus?
You must take all these into account before you can complete the process.

Visit the financial aid office of the institution that you will be attending. Once you get your acceptance letter, this can be done before you apply for any loan or grant.

You could also decide to fill out a (FAFSA) financial application for student aid form. Once your acceptance has been confirmed, the financial aid office of your selected educational institution will help you fill this out and also post it to the relevant address.

When you are waiting for the results to come back from your (FAFSA) financial application for student aid form, you could then, with the help of the financial aid office, check the scholarships or grant options available to you.
Your (FAFSA) will also generate a (SAR) Student aid report, and this can be used with any scholarships or grants to calculate how much money you may need to borrow to pay for your educational credits.
You can choose to work when you are learning to offset any repayment amounts. If you do this then the lenders may use the payment of these monies to determine any further borrowing for any other semesters.

How to Find the Best Student Loan Around!!

A college education will almost always come with heavy financial burden. But behind this fact, it is good to know that there's financial help available, which can be utilized in order to stay on track - through student loans.
This type of financial aid is designed for the purpose of assisting aspiring students financially in their college education. Just like any loan, a these loans also follow the same principle of interest rates and payment obligations, and this is the reason why it is important to find the best one around in order to get the best deal of all, thus, the burden brought about due to the repayment obligations will be minimized.
Finding the best student loan will lead to favorable payment terms and lower interest rate so the repayment process will be easy in the future.
In searching for the best possible help, it is important to know the kinds of offers that are being made in the financial aid industry and to know what kind of help will fit in one's needs and situation.
Generally, there are three types of student loans:
- Federal, provided by the government
- Federal, provided by financial institutions
- and private
Firstly, federal aid is provided by the government. They have a fixed interest rate and one that is definitely lower than other lenders' but nevertheless, application is hard due to the strict requirements that are imposed.
On the other hand, federal help provided by financial institutions like banks and other financial lenders have the same fixed interest rate as this is also regulated by the government.
It only differs from the regular federal loan in terms of the benefits provided by the lender. Oftentimes, lenders offer discount and cut rates on the federal student financial help programs opted when a certain condition has been met like punctual payment process.
However, these benefits are usually not enjoyed by borrowers since punctual payment terms are very hard to maintain and some are also not aware of the mentioned benefits.
Last, but not least, are the loans provided by financial institutions without the interference of the government. This means that the interest rate for private student loans is not fixed and may change any time. The interest rate is also higher than regular student loans but application is easy and the amount of money provided is relatively higher than other student loans.
Upon determining the best offer available appropriate for one's needs, it is important that students must first assess their preferences in a lot of the student loan details, because most offers differ in the terms and conditions imposed - especially in the requirements.
Oftentimes, federal student loans have the most complicated requirements and if you have difficulty in meeting these requirements, then the loan may not be appropriate for you. Aside from assessing the requirements, it is also recommended to compare different loans in order to know the best deal around.
Various lenders have different offers for their borrowers and it is good to take advantage of these offers. Remember that college education is a very important investment in a student's life, so don't forget to maximize all the available resources around in order to adequately finance your child

Tips For Deciding on Student Loans

Not all student loans are suitable for any degree or professional course. The loans are designed to suit the requirements of particular courses. They are either trust funds, scholarships, or government granted loans to aid a student in pursuing further education. In US, there are 3 basic types of loans given to students:

1. Federal Stafford Loans - They are further divided into subsidized, unsubsidized, and additional unsubsidized Stafford loans.
2. Federal Perkins Loans
3. Federal Plus Loans
Selection for these student loans depends on several factors. You need to ask the information desk for proper guidelines. Non acceptance from these facilities leaves door open for credits from private lenders, albeit at higher interest rates and stricter return policies! Here are some guidelines to choose one.
1. If the loans are in the form of scholarships or awards, students need to apply for them independently, sit for tests and interviews.
2. How much will the student loan cover? Some loans cover just the basic tuition fees. Therefore, other expenses are to be paid by the student. For financially backward families, these become a difficulty.
3. Aim for those loans that cover basic expenses like college fees, tuition, book costs, boarding, and others. Many universities have the option for students to work for few hours daily to earn the daily expense money. If the basic expenses are taken care of by the loan, then the student has not much burden.
4. What is the loan repayment plan? This has to be the most important consideration. While private moneylenders expect students to begin repayment as soon as they finish the course, federal or government student loans give time of approximately 6 months to start the repayment plan.
5. What is the interest rate? Take loans that guarantee less amount of interest. Even better if you get unsubsidized federal loan as the government pays interest on your behalf while you study.

Why Consolidate Student Loans?

It is very often that students are encountered with the need to avail of loans in order to meet their expenses. Sometimes, the loans might be taken from sources more than one. In the case of multiple loans,
the burden of monthly payment might be huge. And being a student, unless born with a silver spoon in one's mouth, it is natural that the financial backup is not that strong. It is here that the idea of student loan consolidation assumes significance. Not only would your monthly payment be reduced to a substantial level, but also you can save up some amount in the end.
These loan consolidation programmes can extend the tenure of payment to a long period up to thirty years. This is besides the lowering of the monthly instalments that you have to remit in the bank. The process of consolidation of student loans is relatively similar to mortgage refinancing. The consolidation of loans is applicable to most federal loans. Some of the federal loans the names of which deserves mention include FFELP, Perkins, Health Professional Student Loans, FISL, HEAL Guaranteed Student Loans, NSL and Direct Loans.

The weighted average of the rates of interest of the individual loans in the consolidation package when approximated to the nearest one eighth of a percent as well as capped at 8.25 percentages will give the rate of interest of the loan after consolidation. The consolidation process is so structured that the rate of interest will step up only in small amounts. It is however to be noted that the weighted average will not in any case transform the basic cost of the loan. Another point to be noted is that the new rate of interest will be somewhere in between the different rates of interest. Do not fall into the trap of those who claim that the rate of interest will b lower than the present ones. There are no costs involved in the process of
consolidation.