Financial Aid And Student Loans

Most students require financial assistance when it comes to paying for higher education. Financial aid and student loans go hand in hand, as these loans are often the first type of financial aid a student applies for. Federal student loans are very common and can make a big difference to students and whether or not they can afford to attend college. One type of loan that most students are eligible for is the Stafford loan. It is not based on credit and the criteria for acceptance is very broad. There are two types of Stafford loans -- subsidized and unsubsidized.

A subsidized Stafford loan does not accrue interest until after the student leaves school. An unsubsidized Stafford loan begins accruing interest right away. Speak with a financial aid advisor if you have questions about the types of Stafford loans, or any other types of financial aid available. The first step to acquiring a federal student loan is the completion of a FAFSA, which stands for Free Application for Federal Student Aid. The college may also have its own financial application documents students must complete.

Another type of student loan provided by the government is the Perkins loan, highly based on financial need. Many low-income students are able to get both the Stafford and the Perkins loan to help with educational costs. To help even more, there are grants available such as the Pell grant that do not need to be repaid. And, there is the PLUS loan designed to help parents pay for their children's college after all other loan resources have been exhausted. PLUS loans are not for everyone and have different requirements from other types of student loans like those described above.

A topic that should be discussed when talking about financial aid and student loans is loan consolidation. The U.S. Department of Education allows students to consolidate their federal loans only once, so if you are thinking of doing this make sure the time is right and this is the best course of action. You may want to speak to a school financial advisor before consolidating your loan. There are both advantages and disadvantages to consider. Consolidation can lower your monthly payments by stretching out the length of the loan, but the rates may change. One thing many students like is making only one payment on one loan rather than multiple payments each month.






 

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BurkeyLoan to offer 120% LTV mortgage that also pays student loans - HousingWire

HousingWire

BurkeyLoan to offer 120% LTV mortgage that also pays student loans
HousingWire
BurkeyLoan launched its BurkeyLoan Mortgage division Tuesday which included its 120% loan-to-value mortgage product that funds both a home purchase and the borrower's student loans. BurkeyLoan, a portfolio mortgage lender, will issue, hold and .

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The Conservative Approach to Student Loans - Inside Higher Ed

Lamorindaweekly

The Conservative Approach to Student Loans
Inside Higher Ed
For much of the new year, Jason Delisle has taken every available opportunity to argue against a return to the bank-based federal student loan system that existed before 2010. On panels, in policy papers and in guest columns and op-eds, the American .
This Student Loan Tip Saves You Money Year After YearNasdaq

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Student loan reimbursement bill addresses critical vacancies - Bismarck Tribune

Student loan reimbursement bill addresses critical vacancies
Bismarck Tribune
Sen Erin Oban, D-Bismarck, a co-sponsor of the bill, said student loan forgiveness exists for medical and other critical need occupations but so far the attempts to fill teacher shortages have been rule bending, recruiting retired teachers or using non .

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Number of older student loan borrowers on the rise - Muskogee Daily Phoenix

Muskogee Daily Phoenix

Number of older student loan borrowers on the rise
Muskogee Daily Phoenix
A recent study conducted by the Consumer Financial Protection Bureau found the number of older student loan borrowers has quadrupled since 2005. The balances they carry EUR” much of which is owed for their children's college educations EUR” also are higher .
CFPB Requests Information on Proposed Student Loan Data InitiativeinsideARM.com
CFPB Seeks Comments on New Initiative Intended to Increase .Lexology (registration)
CFPB Activity Should Prompt Second Look at Employee Incentive ProgramsACA International

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Individual States Try to Address Student Debt - U.S. News & World Report (blog)

U.S. News & World Report (blog)

Individual States Try to Address Student Debt
U.S. News & World Report (blog)
In 2015, New York enacted the "Get on Your Feet" loan forgiveness program, which pays up to two years of federal student loan bills for state residents who graduated from a New York college or university after 2014, earn less than $50,000 and are .
Student Loan Debt In 2017: A $1.3 Trillion CrisisForbes
Student Loan Debt Is Now More Than $1.3 TrillionBlack Enterprise
Student Loan Servicing Industry Faces Increasing ScrutinyCredit Union Times
Daily Caller -Pacific Standard -Virginia Gazette -Federal Reserve Bank of New York
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3 Upcoming Changes in Private Student Lending - U.S. News & World Report

U.S. News & World Report

3 Upcoming Changes in Private Student Lending
U.S. News & World Report
Under the Obama administration, the Department of Education become the sole originator of federal student loans. The move ended the guaranteed student loan program, which existed from the 1960s to 2010, in which the government backed private lenders .

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TurboTax Offers Student Loan Refinancing - With a Catch | Money - Money Magazine

TurboTax Offers Student Loan Refinancing - With a Catch | Money
Money Magazine
The country's largest tax prep software has partnered with a student loan refinance company to deliver loan offers right as you're filling out your tax paperwork.

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How Unlimited Student Loans Drive Up Tuition - Forbes - Forbes

Forbes

How Unlimited Student Loans Drive Up Tuition - Forbes
Forbes
The Parent PLUS program's unlimited line of credit for college tuition is not sustainable. Rather, above a certain threshold, the federal government should .

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