By Susan - Thursday 4 Dec 2:17 pm
Selecting to apply for a college loan is a responsible direction to choose and one that requires a certain degree of personal initiative. Once you have crossed that bridge and are opting to apply for your college loan, then the steps to having it approved are fairly simple. Not much effort will be required on your part, but it is important to carry out all the steps and to understand the process of college loan approval. Provided you have no drug convictions against your name, and do not presently owe any money on a college loan, then you can proceed further with your application.
These 10 steps to being approved for your college loan will help you to identify with the procedure taking place that could unite you with the future that you always dreamed of.
1. You will need to be applied to your college before you can apply for your college loan. You don’t, however need to have been admitted to the college, but will need to have admission to receive approval for your college loan.
2. Determine your dependency status by completing the Dependency Status Worksheet on the Free Application for Federal Student Aid website on www.fafsa.ed.gov.
3. Confirm or investigate the school code that is applicable to your college so that you are positive you have the correct information before applying for your college loan. Some codes change from year to year.
4. For federal loans you will need to apply for a pin on the www.pin.ed.gov website that will give you access to your college loan specifics and allow you to make binding legal obligations.
5. For federal loans you will need to fill out the Free Application for Federal Student Aid (FAFSA) eligibility form to verify whether or not you may apply for a college loan through federal means. This can be located at www.fafsa.ed.gov
6. You will need to have your social security number, high school diploma or equivalent and your parent’s tax information in your possession to submit for application. For private college loans you will need to submit all the requirements for a credit check. These may vary from one institution to the next.
7. When submitting your FAFSA form for application to your college loan ensure that you print out your confirmation report as it includes a confirmation number and the date and time that your application was received.
8. Submit your application for a college loan, no earlier than the 1st of January and no later than the 30th of June of the year you are applying for entrance, although some colleges may have different dates for applications so you should check this with the relevant college.
9. Try and apply early enough so that there are still funds available to supply you with a college loan.
10. Follow up by logging into the FAFSA website using your pin for federal loans to check the status of your college loan application. For private loans, each institution will have their own methods of communicating for you to be able to gauge progress on your college loan application.
Posted in: College Degrees, 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.
- Chase Private Student Loans – a market leader in private college loans offering loans of $1000 – $40000 per year
- Wells Fargo – A private college loan with an incentive of .50% reduction if you graduate, and a .25% reduction for making automatic repayments
- Sallie Mae – Considered to be the leader in private college loans, offering learners enhanced and informed opportunities across America
- 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
- Think Student Loans – Private college loans that pay out as little as 48 hours from the date of approva
- Studentloans.com – Easy application process for private college loans with fast and efficient response times for loans of up to $30000 or $40000
- Discover Student Loans – Private college loans that offer a 2% graduation rebate for all successful graduates
- College Loan Corporation – Offering private college loans for up to the full amount of your tuition fees – temporarily not offering student loans
- 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
- 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
By Susan - Tuesday 25 Nov 6:34 pm
A Stafford student college loan is a federal government student loan that offers would be college goers a fantastic opportunity in terms of affordability of and accessibility to their studies. Stafford student college loans are available to anyone wanting to study. All you need do is apply.
Stafford student college loan are the most popular form of college funding across America, and billions of dollars have already been paid out to stabilize student’s studying careers. These student college loans offer extremely low interest rates and flexible repayment options to suit student situations. Payments can be deferred until after graduation allowing college goers the freedom to focus on their studies and not have to worry about repayments at this crucial time. There is also a 6 month grace period upon commencement of college before the student needs to start making their repayments on their student college loan. The government will sometimes also subsidize the loan for students who require a student college loan on a financial need basis, in which case the government will pay all the interest on behalf of the student while they are in school. Some loans taken out are unsubsidized in which case the student is responsible for the interest accrued throughout the loan repayment period. In the case of student college loans that are unsubsidized, the loans are not necessarily awarded in their full capacity and extensive calculations are made to arrive at an agreeable arrangement for both provider and student.
Before applying you need to be enrolled in a school that supports Stafford student college loans, and you should have a reasonable academic record to prove that you are serious about studying. You need to be a US citizen or a citizen of an eligible area, have a valid social security number and high school diploma or equivalent, and you may not currently be in default. There are many different institutions that offer federal Stafford student college loans, and the school that you wish to attend will be able to put you in contact with a reliable source that you can apply to. Sallie Mae and Chase are popular choices for all student college loans, and they also accept applications for Stafford loans.
To apply for your Stafford student college loan, you will need to fill out a FAFSA form – Free Application for Student Aid Form that can be completed online or downloaded from www.fafsa.ed.gov . For a subsidized loan, you need to establish your financial need through the college you will be attending. After filling out and submitting your FAFSA form, you will be notified by means of an award letter what your eligibility is. You should then apply for your Stafford student college loan.
Take note of the application expiration dates for your school, as you will need to have your Stafford student college loan approved and in motion before application cut off dates. From there on out, all your need to do is keep up a consistent flow of academic progression and you should be able to apply for another student college loan for your years to follow.
Posted in: College Loans
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