What College Loan and Scholarship Programs are available to Veterans?

By Susan - Friday 12 Dec 4:06 pm

Veterans need not be excluded from going to college, applying for college loans or scholarships. There are options available for every individual, especially for Veterans, and these options are inclusive of college loans and scholarships.

By serving the country during your military career, it is felt that the country is indebted to your service and it is thought that the opportunity to study might not have presented itself to you before as time was spent in service of your country. For this reason, Veterans are highly eligible for college loans and scholarships, and there are benefit programs in place that Veterans and their families can take advantage of. Scholarships are more frequently offered to veterans than college loans are.

There are numerous college loan opportunities that are funded by the government, but also state funded college loan and scholarship programs. In addition to this, there are many private institutions that will offer veteran college loans and scholarships, but at a slightly higher interest rate. These rates are determined by the individual institutions and should be confirmed before an application for your college loan is made. Scholarships and benefits are also made available to the children of military Veterans.

Application forms for government funded college loans and scholarships as well as for privately funded college loans can be obtained from the colleges or schools that you are planning to study at. These forms can be handed in at the school’s reception and will then be submitted to the Department of Veteran Affairs by the registrar of the school you are applying at. You can apply for your college loan or benefit directly to the Department of Veteran Affairs by clicking here. Veterans have 10 years from the date of being released from duty to take advantage of their education benefit.

Sallie Mae has teamed up with Veterans Advantage to offer a competitive college loan available only to military veterans. Veterans Advantage is a portal that offers veterans incredible rewards in all spheres of retail, financial, health, entertainment and many other dimensions of day to day life. College loans are another dimension that offer veterans an opportunity they might not have received during their service. Sallie Mae has a few options available for veterans, and VA (Veterans Advantage) card holders can use their membership cards to log into the Sallie Mae College Answer website to find further information on college loans specifically tailored to suit their needs and financial situations.

Standard government funded college loans (FFELP) are probably the best place to start when applying as a veteran. Alternatively, college loans can be applied for with private institutions provided the applicant is willing to pay a substantial amount more in interest charges than as would be with federal college loans. By shopping around for college loans, you will become familiar with the advantages and disadvantages of all available college loans, and you will be able to make an educated (excuse the pun) decision.

Posted in: College Degrees, College Loans

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10 Best Sources for Private College Loans

By Susan - Tuesday 25 Nov 6:54 pm

Applying to college is an important time in every student’s life, and it is something that has a lot of emphasis placed on it from a very early age. There are numerous exceptional schools out there, but some are just not affordable to the general public. Private College Loans allow for anybody to be able to apply to the colleges that they wish to attend, even in lieu of the ever escalating costs of education.

There are a few financial institutions offering private college loans that are highly regarded in offering competitive deals in this niche. Private college loans are generally offered at a higher interest rate than federal loans, and will often require that a credit check and history be compiled before approval is made.

At present, with the increase in stringency on credit applications, there are many private college loans that are currently not accepting any further applications, and those that also stress that their policies are strict and will only accept those you qualify 100%. Here you will find 10 of the best sources for private college loans that are actively accepting new candidates, and can offer these services to a broad spectrum of applicants. The selections are also based on popularity of the private college loans scheme, ease of application and the overall competitive package.

1. Chase Private Student Loans – a market leader in private college loans offering loans of $1000 – $40000 per year
2. Wells Fargo – A private college loan with an incentive of .50% reduction if you graduate, and a .25% reduction for making automatic repayments
3. Sallie Mae – Considered to be the leader in private college loans, offering learners enhanced and informed opportunities across America
4. College Loan Solutions – A division of Student Loan Network, they offer private college loans for up to .5% lower than prime, based on your credit evaluation
5. Think Student Loans – Private college loans that pay out as little as 48 hours from the date of approva
6. Studentloans.com – Easy application process for private college loans with fast and efficient response times for loans of up to $30000 or $40000
7. Discover Student Loans – Private college loans that offer a 2% graduation rebate for all successful graduates
8. College Loan Corporation – Offering private college loans for up to the full amount of your tuition fees – temporarily not offering student loans
9. Citibank – A private college loan where you can receive up to .75% reduction in your loan repayments. .50% for 48 consecutive successful repayments, and .25% for opting for automatic repayment
10. Student Loan Financial Group – Private college loans for between $1500 and $40000 annually

All of the above institutions offer informative application processes that are easy and stress free. Some are more competitive than others in interest rates, while others pride themselves on being efficient in the application process. Whatever you want from your private college loan will be found in the above recommendations.

Posted in: College Loans

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