For all of you teenagers out there, who have parents willing to pay your college tuition, take full advantage of this opportunity. If you don't you will kick yourself down the road. And for all of you straight A students out there, who have outstanding scholarships at your fingertips, take them and run. This is your chance to acquire a higher education without the burden of student loan payback. Something we all wish we could get rid of when college life is over with. As for the rest of us, we quickly discover just how expensive college is. We research financial aid college funding and grants that appear within our grasp. Anything that will get us through the next four years of academic overload.
I was one of the masses. What I would have given to have someone fund my entire college experience. And I really didn't even spend that much over the standard four year stretch. I avoided unnecessary material things and expensive dining. I even used my student ID for discounts whenever possible. Needless to say, I had to find financial aid college loans to make University life happen. I went with the Stafford loan, subsidized and unsubsidized. On top of that, I was able to achieve a state federal grant. This helped me a great deal. The grant alone paid for a fourth of my education. That's basically an entire year. If you are able to attain federal or state grants, I highly suggest you do so. This is the best financial aid college money simply because you don't have to pay any of it back later.
Many new students fail to do the research. Instead they make assumptions about financial aid college funding and grants that other students acquire. They assume the other students are receiving such benefits because they have a child or their grades are phenomenal. This may be the case at times, but not always. Some grants are achieved by writing essays or expressing effort in other ways. The best thing to do is scour the web for all federal and state grants pertaining to college education. See which ones apply to you and do your best to attain them. Once you graduate, you'll be glad you did.
Wednesday, May 7, 2008
Bad Credit Student Loan
Going to college is something almost every young person dreams of. However, some individuals take a few years off to work after graduating from high school which results in them enrolling in college after they’ve already tried to tackle the world on their own. For some of these individuals they may have worked for a number of years while balancing credit cards, a mortgage or a car loan. If they’ve budgeted correctly they’ll have made out fine, but if they’ve faced some financial difficulties, they may have a poor credit score. Trying to get a bad credit student loan can be a process wrought with frustration and disappointment.
Most kids who apply for federally funded education loans do so when they are too young to have their own credit rating. The majority of children graduating from high school haven’t been in a position where they needed their own credit card or mortgage. For them, getting a student loan is a relatively painless process. The older you get and the more jaded your credit standing becomes, it becomes progressively harder. Although they may not be able to use the same funding sources, those with a less than stellar financial history can still find bad credit student loan resources.
The first place to start is with the typical loan funding for college students. You won’t know if you qualify unless you try and apply. If you are indeed turned down you’ll know it’s time to look for bad credit student loan aid elsewhere.
If you already have a mortgage or a car payment through your bank, consider applying for funding with them. They may be able to offer you bad credit student loan options including a line of credit or a personal loan. Although you’ll likely pay higher interest rates than a standard student would, you’ll have the bad credit student loan in place, and you’ll be able to attend school.
Private lenders can offer a light at the end of the tunnel for anyone who has faced credit problems in the past. They not only provide funding for mortgages and debt consolidation, but they offer help with bad credit student loan money too. With a private lender you can expect to have a higher repayment schedule than you would with other methods of funding, but if you pay it back on time, you’ll have no trouble at all.
Finally for some students there is only one place left to turn and that’s your family. Asking family members for money can be difficult for anyone but if you explain the situation they may be willing to offer you a bad credit student loan. If you do go this route make certain that you have a written, notarized agreement in place and that you keep careful track of your repayments. You want to ensure that your family member gets everything they are owed to them.
Most kids who apply for federally funded education loans do so when they are too young to have their own credit rating. The majority of children graduating from high school haven’t been in a position where they needed their own credit card or mortgage. For them, getting a student loan is a relatively painless process. The older you get and the more jaded your credit standing becomes, it becomes progressively harder. Although they may not be able to use the same funding sources, those with a less than stellar financial history can still find bad credit student loan resources.
The first place to start is with the typical loan funding for college students. You won’t know if you qualify unless you try and apply. If you are indeed turned down you’ll know it’s time to look for bad credit student loan aid elsewhere.
If you already have a mortgage or a car payment through your bank, consider applying for funding with them. They may be able to offer you bad credit student loan options including a line of credit or a personal loan. Although you’ll likely pay higher interest rates than a standard student would, you’ll have the bad credit student loan in place, and you’ll be able to attend school.
Private lenders can offer a light at the end of the tunnel for anyone who has faced credit problems in the past. They not only provide funding for mortgages and debt consolidation, but they offer help with bad credit student loan money too. With a private lender you can expect to have a higher repayment schedule than you would with other methods of funding, but if you pay it back on time, you’ll have no trouble at all.
Finally for some students there is only one place left to turn and that’s your family. Asking family members for money can be difficult for anyone but if you explain the situation they may be willing to offer you a bad credit student loan. If you do go this route make certain that you have a written, notarized agreement in place and that you keep careful track of your repayments. You want to ensure that your family member gets everything they are owed to them.
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