Student Loans: Just the Facts
One of the questions most students are asking today is ‘how can I get student loans?’ It seems to be at the top of everyone’s list and rightfully so. Because once you’ve worked out a financing plan with a student loan or even multiple loans if necessary, everything else will fall into place. There will also be a lot less stress because you will have cleared the first major hurdle to your education and in fact it will help make a massive impact on your future after education.
Here’s some information that can help you understand your options. I’ve simplified the answers a bit so as not to confuse you with a lot of unnecessary rambling and have stuck to what Detective Friday used to say years ago on that Dragnet TV show “Just give me the facts ma’am!”
just the facts
Below is a list of tips and facts that are not in any specific order, it’s just a collection of helpful tips that you can save, make note of the ones that resonate with you, and discard the rest.
1. Before deciding to commit to any loan, it is a good idea to talk to your school counselor. They are up to date and will have the latest student loan information that will apply to you and will have the experience to help you narrow down your search for the perfect loan. Although, not all loans are perfect but the trick is to find the one that is perfect for you.
2. Many educational institutions are starting to go paperless these days with many application forms available for you to fill out online in the comfort of your home.
3. The first option you should consider when getting a loan is to always look at government loans first. They typically have much lower interest rates and can also have longer terms.
4. Government loans were established to provide students who may have financial problems and/or other difficult situations that affect them in their lives to provide as many people as possible with their right to a good education.
5. You can find the Federal Student Aid application form online and you can apply online when needed.
6. Quote “For every human on Earth there are 1.6 million ants” (this has absolutely nothing to do with student loans, just wanted to see if you were still awake).
7. Once you have completed your FASA form after it is assessed, you will receive a Student Aid Report showing which loans you are eligible for.
8. Once you are granted a loan, you do not have to accept it.
9. It is possible to use only part of your loan, this will depend on the specific conditions of the loan provider, of course, but it is possible.
10. Private loans usually have a higher interest rate, but can be more flexible with the amount of money they can provide.
11. It’s a true buyer’s market, in other words, you, as a borrower, are eagerly sought after by all these competing loan companies. This can give you even more of an advantage because you could think about negotiating and even dealing better with them.
12. Most lenders will have an online portal where you can submit a loan application.
13. The Government PLUS loan system was created to help parents find the best type of Government aid for their children.
14. When you complete the government loan application, you will probably be asked to have your parents with you, as some of the necessary information will need to be provided by them.
15. When completing any loan application, you will be required to provide detailed information about your current finances, including loans, credit cards, and any other relevant information.
16. You will also need to provide full details of co-signers if you have one.
And last but not least…
17. “However, the total weight of those ants is almost the same as that of all humans.”
I hope this has been helpful in helping you decide which type of student loans are best for you, good luck with your studies.