Education loan: What it Means for a Needy Student

student loans

One of the best things that a bright needy student can ever get is the opportunity to train with the able students in the same environment without the constant reminder of their needy status. There are so many students in the world today who have the potential of changing the world but are unable to do so due to their inability to access quality education. Poverty is known as one of the greatest enemies to most students excelling in their studies in both developed and developing countries.

Locked Out

studentMost students have lost some great opportunities owing to inability to raise their college fees. Some usually opt to drop school altogether and pursue other opportunities like entrepreneurship. For the most determined ones, they don’t give up entirely on their dreams; rather, they first put them on hold and go looking for employment.

Once they have raised enough money, they come back and continue with their studies. While some can get back to schooling, a good number is usually sucked into the life of pleasure and partying thereby giving up on their dreams.

Student Loans

Fortunately, the government noticed the worrying trend and has put in place some measures to ensure that fewer and fewer students have to give up their dreams of studying for lack of college fees. One of the ways to do this other than lowering college fees is by offering student loans. These loans have helped a great deal as students are nowadays able to study without the constant worry of not graduating owing to lack of fees. The loans have helped and continue to help most students achieve their dream of getting a quality education.

Bridging the Gap

student loanThe student loans have come as a big boost for the needy students who would otherwise have had no shot at a college education. Through these loans, the government has helped bridge the gap between the rich and the poor in a big way. Today, the needy can compete with the rich in the same environment.

This was impossible some time back. For this reason, the needy have been able to upgrade the kind of life they live due to liberation through education. Most of these poor kids have worked tirelessly to fulfill their dreams and are now owners of big corporations.

Conclusion

From the above, it can be seen how essential student loans are not only to the needy students but also a country as a whole. By making the loans more easily accessible to the larger needy student population, the government ensures that more students get to complete their studies and become who they wished t be.

When this happens, more job opportunities are created which is good for the country’s economy. Again, more educated people means that there will be fewer dependents on government aids. An educated population means that more people are actively employed. This will by extension even lead to decreased crime rates among other vices. There is a lot of benefits that come with the student loans for both the student and the government.

College financing – Tips to Pay for College

After choosing the right college paying tuition and fee can be a daunting task especially if your parents don’t have a stable income. In fact, research that was conducted by Young Invincible, a research and advocacy group revealed that college tuition and fee at public universities have risen at an average rate of 28% since 2010 with states such as Arizona and Georgia prices rising by up to 72% and 68% respectively. As a student you should learn various tips to pay for college. The good thing is that there are financial options that can help you lower your college fees. In this article, we are going to give you college financing tips.

Tips

Check for tuition deals

As the government pushes higher education injmkb2wr4r125sdt6y1u28stitutions to control their expenses, more and more colleges are now seeking ways to help families minimize their costs. Several public universities including Iowa state system and the University of Arizona have already proposed a freeze tuition system that will be effective form next year. This means that starting from next year, students who join this two universities will pay less fee.

Apply for scholarship and loans early

Most students usually wait until the last minute before they start applying or loans and scholarships. Applying for scholarships and loan early will enable you to get feedback on whether you are successful or not on time. This is very important because if you are successful, you will start making other plans because you know your college finance is sorted.

On the other hand, if your application does not turn out to be successful, you will still have time to come up with a second option. Some scholarship programs set a limit on the number of application that they will consider. This means that if you delay, the chances are that your application will not be accepted.

Start saving early

According to research conducted by bankrate.com, a parent who starts savjmkb2w5t6ywe7du228ing for their children fees early usually don’t struggle when the time for the kid to go to college finally reaches. Parents are therefore encouraged to start saving early to as to prevent themselves from making desperate moves that can be very costly. Start saving early, if you skip a pizza or a couple of pitchers of beer now; your child won’t struggle to go to college 20 years later.

Consider public service profession

One major disadvantage of working in public service is lower salaries when compared to another field. The government has come up with a loan forgiveness program to help a needy student who is struggling to pay the college debt. Students who have college loans and work in public service are eligible to apply for this program.

An Indepth look at a list of Countries by Education Budget

For many years, education has been one of the factors driving major world economies.

An Indepth look at a list of Countries by Education Budget (3)

It is, therefore, understandable why even the developing economies have been investing heavily in this sector.

In order to fully understand countries’ expenditure patterns on education, it is important that one begins by understanding the criteria used to arrive at this.

To begin with, a country may be deemed to be spending much on education by looking at the percentage of its Gross Domestic Product that goes on education.

Alternatively, the same expenditure may be arrived at by examining the actual amount of money the country spends per student or the actual total spent on education.

In this article, we shall review a list of countries by education budget by looking at those that spend quite heavily on this sector.

An Indepth look at a list of Countries by Education Budget (1)Many of us are familiar with the high literacy levels in Luxembourg and to be precise, a country can only achieve a 100% literacy rate if the country spends so much in education.

Luxembourg spends a whopping $19,049.81per student in education. One can, therefore, understand why this country has the highest starting salaries for teachers, with up to $64,042 per year.

The system requires every child to attend school up until they are 14 years and this runs from primary through tertiary levels. Coming second in the list is Switzerland and given that an average Swiss child goes to school until they are 16 years, this is a pretty good foundation for any country.

The country spends 5.4% of its GDP on education and has a literacy level that stands at 99%. Additionally, its teachers have the world’s third best starting salaries which stand at $47, 329 annually, which steadily rises to $52, 444 within ten years of service.

Norway also finds itself among the countries that spend heavily on education, and for the right reasons. Every Norwegian student accounts for up to $13,066.64, a figure which loosely translates to 7.3% of the country’s GDP and a whopping 100% literacy level.

For new teachers, one should expect a starting salary of about $33,349 per year. The United States is a leader in many things and appears education is one of those.

The country spends about $11,825.89 per student in education. 5.4% of the country’s GDP goes to education and the country boasts of a 99% literacy level.

The US is also among the countries that pay teachers handsomely, with a starting salary standing at $37, 594 per year.

Wrapping up the list of the top 5 is Austria.

On average, an Austrian student takes up $11,693.07 in education. The education system in Austria is so constituted that every child is required to attend the free public education until they are nine.

In terms of GDP, the country spends up to 6% on education.

Looking at the list of countries by education budget, what stands out is the fact that different countries have various means of investing in education to ensure that the overall literacy level of that particular country is at the highest expected standards.