Student Loans : News, Updates and Blog Posts

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Please disregard…

My mission: In one month, learn everything there is to know about the financial aid process, and federal student aid programs so that I can get a jump start on my applications.

Armed with: ejacobs (Student Advocate from FinancialAidForum.com), a variety of web resources that I found from the Student Loan Network, some books and packets, federal student aid guides, the web-o-sphere, and my peers.

Reason: I’d like to go back to school, but I’m not swimming in cash. I recently read that incoming students often underestimate how much financial aid they will get from the government and fail to take advantage of it. I’m determined to find the maximum amount of aid possible for my situation.

There are a variety of online resources I found helpful in the start of my learning process, and I will share some of them with you below. (more…)

Can you believe it’s nearly September already? I sure can’t. With classes around the corner, this is one of the most vital times of year to get your finances in order and make sure your tuition & educational costs are covered for Fall semester and beyond.

If you’ve been waiting to apply for a private student loan, be advised that they can take up to 45 days for processing. Like any other bank product, sometimes they need more paperwork or the school certification process can be delayed which slows the entire process down. (more…)

The Wall Street Journal had a great article yesterday explaining some of the problems that graduate business schools have been facing in regards to decreased applicant and attendance volume over the past few semesters.

The author, Diana Middleton, writes:

Many full-time programs have seen a drop in applications international students, partly due to increased competition from schools abroad and because of increased difficulty securing visas and student loans.

It’s no secret that student loans are more difficult to obtain for graduate students in the past few years due to the credit crunch and slow economic recovery. However, there are more lenders and programs than ever to assist post-undergraduates with their advanced degree programs. (more…)

The key component of being approved for a low-interest private student loan is the credit score and history of you and/or your co-signer. Depending on what your score looks like to a lender, you could see a variance of anywhere from 1 to 10% on the interest rate of your approved student loan.

Aside from checking your ability to get a loan, knowing your credit is important for a ton of other things in life such as buying a car, getting an apartment and, of course, getting a credit card. If you’re just starting out and need to build your credit, check out StudentPlatinum’s page on student credit cards.

Otherwise, do yourself a favor and check your credit ahead of time; it will save you a lot of time and frustration to have the right expectations set based on your personal financial profile.

Hey, fellow college kids! It’s the time of year again for school to start. Are you wondering how you’ll be able to pay for it? Don’t let a school’s price tag or lack of financial aid scare you away. Be sure to look into getting a private student loan.

Private student loans are offered by a wide variety of companies, and allow users to borrow up to the full cost of their education.  Besides your actual school tuition, you can also use a private student loan for textbooks, housing, meals, and any other school-related fees. Unlike federal loans, interest rates for private student loans vary, and there are absolutely no deadlines. While scholarship applications and FAFSA enforce deadlines, you can apply for a private student loan at any time.

To qualify for a private student loan, you need to be a United States citizen or permanent resident applying alongside a co-signer with good credit history, and be enrolled in school at least half time.  Find out what your options are now!

Hello college-goers! This is your friendly Student Advocate Evan here to remind you that this is the last week or two you can file a FAFSA correction and expect the changes to reflect quickly on your tuition bill.

If you’re wondering what types of things require you to file a correction, here is a partial list: (more…)

Ah yes, the ever nagging question of dependency status on the FAFSA. We know it well. Recently one of our financial aid forum users, Ssully, posted this question in regards to that exact topic: (more…)

With all the financial aid choices out in the wild, sometimes it isn’t clear why one solution is better than another. For instance, consider the ongoing debate between federal PLUS loans and private student loans:

• They both are credit-based
• They both can cover up to 100% of your cost of attendance
• They both can be used for non-tuition costs such as living expenses, books and computers. (more…)

ScholarshipPoints.com, a free college scholarship rewards program, plans to draw the winner of its next $10,000 scholarship on September 15th.

QUINCY, MA (August 16, 2010) – ScholarshipPoints (www.scholarshippoints.com), an Edvisors online education company, recently announced that its fourth $10,000 scholarship drawing of 2010 will be awarded on September 15, 2010 and sponsored in part by Student Loan Network. Through their free scholarships program, ScholarshipPoints will help students of all ages achieve their dreams of a college education by awarding scholarships on a monthly and quarterly basis. To ensure funds are used for educational purposes, awards are sent directly to the student’s financial aid office.

Read the full story…