Comparing Student Loan Programs
The cost of attending college can be great. Not everyone will receive enough scholarships or grants to cover the total cost of their education. This is where student loans come in. Trying to find the right student loan for your situation can be stressful. There is a lot of different terminology used - not to mention all the different interest rates and payback numbers. So, let's take a look at a couple of student loan programs.
Sallie Mae is the number one student loan lender in the United States. Sallie Mae handles two types federal loans as well as private loans. If you're in a continuing education program or are beginning an education program you can get a career training loan or a continuing education loan from the company with a minimum of $1,000.
The Federal student loans that Sallie Mae offers to students can be used to take care of costs that come with going to college. This may include, but is not necessarily limited to, paying for books, room and board, meals, and of course tuition fees. Federal loans are more likely to have lower interests rates than any type of Private loan. For this reason any type of Federal loan should be the first type of student loan that a student applies for.
Undergraduates will also find many private student loans from Sallie Mae, including the Sallie Mae Smart Option Student Loan. This loan is for students that still need money after using all scholarships and grants and allows students to borrow up to the full cost of education.
If you plan on studying abroad at some point in your college career Sallie Mae provides International student loans as well. They basically work the same way as other loans but are geared specifically towards students studying internationally. This type of student loan sometimes gives the student different options for setting up a repayment plan then normal student loans.
There are also a couple of student loans available from the United States government. These are Stafford loans and PLUS loans.
Stafford Loans are available directly through the government and are probably the most affordable student loan available. Rates are fixed at as low as 6% and can be used for tuition and any school expenses. To receive a Stafford loan, an applicant must fill out a FAFSA, or Free Application for Federal Student Aid.
The other option offered by the United States government is a PLUS loan. Once again a student is required to fill out a FAFSA, which is a common procedure when attending college any, in order to have a chance at getting a PLUS loan. These student loan programs are offered at different interest rates to undergrads and graduate students or parents. The PLUS loan usually has the most minimal interest rate available which makes paying them back easier for the student.
Students may be able to find other options when it comes picking a student loan programs, but there are the most popular option for most students. The cost of a college education can get very costly and not everyone has enough money saved up to cover all of their tuition. So, if your college tuition isn't covered by grants, scholarships, or out-of-pocket money a student loan is sometimes the only way to go.
Sallie Mae is the number one student loan lender in the United States. Sallie Mae handles two types federal loans as well as private loans. If you're in a continuing education program or are beginning an education program you can get a career training loan or a continuing education loan from the company with a minimum of $1,000.
The Federal student loans that Sallie Mae offers to students can be used to take care of costs that come with going to college. This may include, but is not necessarily limited to, paying for books, room and board, meals, and of course tuition fees. Federal loans are more likely to have lower interests rates than any type of Private loan. For this reason any type of Federal loan should be the first type of student loan that a student applies for.
Undergraduates will also find many private student loans from Sallie Mae, including the Sallie Mae Smart Option Student Loan. This loan is for students that still need money after using all scholarships and grants and allows students to borrow up to the full cost of education.
If you plan on studying abroad at some point in your college career Sallie Mae provides International student loans as well. They basically work the same way as other loans but are geared specifically towards students studying internationally. This type of student loan sometimes gives the student different options for setting up a repayment plan then normal student loans.
There are also a couple of student loans available from the United States government. These are Stafford loans and PLUS loans.
Stafford Loans are available directly through the government and are probably the most affordable student loan available. Rates are fixed at as low as 6% and can be used for tuition and any school expenses. To receive a Stafford loan, an applicant must fill out a FAFSA, or Free Application for Federal Student Aid.
The other option offered by the United States government is a PLUS loan. Once again a student is required to fill out a FAFSA, which is a common procedure when attending college any, in order to have a chance at getting a PLUS loan. These student loan programs are offered at different interest rates to undergrads and graduate students or parents. The PLUS loan usually has the most minimal interest rate available which makes paying them back easier for the student.
Students may be able to find other options when it comes picking a student loan programs, but there are the most popular option for most students. The cost of a college education can get very costly and not everyone has enough money saved up to cover all of their tuition. So, if your college tuition isn't covered by grants, scholarships, or out-of-pocket money a student loan is sometimes the only way to go.
About the Author:
Author: Max Hargis has some great information on student loans. Find out how to get a student loan and read more student loan information to better understand what can be a confusing venture.
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