Tag: student loans

student loans

Education loan: What it Means for a Needy StudentEducation loan: What it Means for a Needy Student

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.


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 CollegeCollege 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.


Check for tuition deals

As the government pushes higher education instudents in a classstitutions 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 savstudentsing 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.

college students

How to Choose the Best Private Student Loans LenderHow to Choose the Best Private Student Loans Lender

If you are considering to get a private student loan, there are different sources where you can get these loans. To get the best, it is good to consider the different private student loans lenders. Here are some of the things to consider when looking for the best lender.

What to consider

Look at the number of lendersstudents illustration

You need to do a lot of homework and compare the different lenders. Even if the first lender that you come across seems to have good rates, it is not advisable to sign up before you check up other lenders. Getting another lender with friendlier terms is possible. It is also good to note that the loans are more complex and differ significantly by the lender, so it is good to perform research and make comparisons.

Check the most favorable terms

As mentioned above the loans are more complex. There are variable and fixed rates usually provided by the same lender. According to LendEDU, variable rates tend to be lower and are usually tied to a key index that will go down, but might end up going higher in the long run. Repayment periods also differ and the longer repayment terms offer lower monthly payments. However, you will be required to pay higher interest rates. Shorter terms might results to unaffordable payments, so you need to balance to find out the one that suits you.

Search for a credible lender

It is good to certifigate and moneylook for a lender who has been in the business for a period. It is also good to consider a lender that has high chances of staying in the business for a while. If you are considering getting the loan from a private institution, you need to perform more verification before you choose them. This is because they are not established as sustainable financial institutions. Banks and credit unions are more sustainable financial institutions. Your lender should also be ready to offer you the amount of loan that you need.

Check for loans that are specifically for education

Some lenders give generic loan that is not specifically designed for an education program. You need a lender who offers loan specific loan because they will understand your loan better. They will also understand what you need better and how to communicate with you. Look for a lender that will not require you to make repayment until you have completed your education.