Find out more on Debt Consolidation Credit Counseling In Phoenix Now!
Thursday, February 26, 2009
College is expensive. So expensive, that most people can pay for it all out of pocket. If you don't have a college fund all saved up, you have to work to save, apply for scholarships, and look for grants. In fact, your probably already doing this frantically.
Some people are lucky enough to be born into a rich family or have parents that were able to set aside money in a college fund. Others are super smart and able to land a full ride scholarship to the college of their choice.
The rest of us don't have these luxuries, no matter how hard we try. We have to try to save by going to a state school or a community college first. We apply for every scholarship that we even just remotely qualify for, and we save every penny. After that, we have to get loans.
As bad as it sounds to have to take out a loan, if you can't pay, you have to do it. As much as you hate to do it, it's just what you need to do. Most college students will have to take out a student loan.
The first place you should look when getting a loan is with the government. Most other personal loans have much higher interest rates. You could even pay with a credit card if you want, but they will charge you a huge interest rate that you must avoid at all costs to save a lot of money. The first government student loan you should look at is the Stafford Loan.
This affordable loan is available for use for college tuition at any two or four year university, college, or trade school. You are allowed to borrow up to $4,000 a year, every year. The Stafford Loan is available as subsidized or unsubsidized.
If you are in great financial need, you can get the subsidized loan in which the government will pay the interest on the loan until six months after you graduate. If you don't show great financial need, you can still get the unsubsidized loan in which the government won't pay any interest.
The Stafford loan is the first place you should look if you are considering a loan. You will have to pay it back, so make you have have plans to repay when you graduate.
Some people are lucky enough to be born into a rich family or have parents that were able to set aside money in a college fund. Others are super smart and able to land a full ride scholarship to the college of their choice.
The rest of us don't have these luxuries, no matter how hard we try. We have to try to save by going to a state school or a community college first. We apply for every scholarship that we even just remotely qualify for, and we save every penny. After that, we have to get loans.
As bad as it sounds to have to take out a loan, if you can't pay, you have to do it. As much as you hate to do it, it's just what you need to do. Most college students will have to take out a student loan.
The first place you should look when getting a loan is with the government. Most other personal loans have much higher interest rates. You could even pay with a credit card if you want, but they will charge you a huge interest rate that you must avoid at all costs to save a lot of money. The first government student loan you should look at is the Stafford Loan.
This affordable loan is available for use for college tuition at any two or four year university, college, or trade school. You are allowed to borrow up to $4,000 a year, every year. The Stafford Loan is available as subsidized or unsubsidized.
If you are in great financial need, you can get the subsidized loan in which the government will pay the interest on the loan until six months after you graduate. If you don't show great financial need, you can still get the unsubsidized loan in which the government won't pay any interest.
The Stafford loan is the first place you should look if you are considering a loan. You will have to pay it back, so make you have have plans to repay when you graduate.
About the Author:
Once you graduate, you need to repay your every student loan. Paying off every student loan can be tough. You should look into student loan debt consolidation.
posted by Credit Counseling at
10:16 AM
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