So the feds slashed the interest rate to near zero. My current student loan has like 6% interest rate. Is it possible to get a new loan for the low interest rate?
Here are some great tips on how to consolidate student loans.One good thing about government loans is that the interest rates are fixed when consolidating them, and so rest assured that the rates that the lending company will charge you are within the boundaries of the law. Albeit there is already a ceiling on the interest rates when consolidating government loans, it is always to your advantage if you will shop around for those with really low interest rates.
http://www.worldbestloans.com/student-loans.htm
Grace period of loan repayment means you are done with college and earn a degree but the part of repayment, you just have not started. The grace period is usually from the graduation day to 6 months after and is usually regarded as an excellent time to which you acquire college student loan consolidation.
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Also, I would be interested in any grant money that I am eligible for. I am married and we make too much money to get any "free" college funding…HELP.
Federal student loans have the lowest rates, the lowest origination fees, and the best terms (fixed interest rates). Apply at http://fafsa.ed.gov
You will not have to have a cosigner, or pass a credit check. Also sometimes the government will pay the interest on these loans while you are in school. Here is a good book about all the different types of loans and the interest rates for each when you apply with the above link from the Dept of Education.
Hope it helps.
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So my parents are providing my tution and cost for college, but with great student loan offers im looking at taking a student loan with an interest rate plus or minus 2.5% which is really good, what could i do with this money investment wise to try to make some money such as cd's and etc
yea thanks kman i realized that just seeing if the oppurtunity arises itself with obama possibly creating more loan oppurtunities and i know that the u NEVER buy stocks with loaned money
AFAIK federal student loans with rates under the inflation rate have to be used towards education costs, and I'd be a bit surprised if you even qualify for them given that your parents are capable of paying for your education.
Investing borrowed money is rather risky. If you're sticking to risk-free CD's and the like, you're looking at a 3.5% ish return (max)… you're not going to be making much more than your borrowing cost. Stocks obviously have better potential, but it's pretty high risk as a somewhat short term investment in this climate.
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Low-interest student loans are dependent upon a good credit score, the state of the economy and interest rate levels, whether it is a variable or fixed loan and where the loan is coming from. Find lower-interest loans, raising credit scores and having a cosigner to help, with financial advice from a guidance counselor in this free video on student loans.
Expert: Cheri Ashwood
Bio: Cheri Ashwood has a Bachelor’s Degree in psychology and education, and she has been a guidance counselor for nearly a decade.
Filmmaker: Christopher Rokosz
Duration : 0:2:11
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Many people who graduate from college have the idea that because they have a college diploma that they will go out into the world and make tons of money. They will be able to afford a style of life that will be the envy of all their friends.
The fact is that in today’s society, the cost of everyday living is rising at an alarming rate. It seems that the more money you make, the more money you need.
Many children are taught from a very early age that being responsible means that you have to pay your bills. Anything that is left over can be used in anyway that you want. The problem is, that there is usually nothing left over! No matter what type of employment you have, it seems like there is just not enough money to cover everything.
The grandiose ideas that you had in college have come crashing down. On top of your everyday expenses, there is still the expense of paying back student loans and credit card bills. It seems like it will never end.
Some people find that taking out a loan often assists them in paying off these debts and allows them to sigh with relief.
The process of finding a lending company can be very confusing. You want to find a loan that has relatively low interest, however, there are thousands of companies that offer low interest loan with hidden charges.
When you use the Internet, the process can be less stressful. Low Interest Based Loans On The Net can be found by doing a simple Google search. You will find millions of links to companies who offer loans at a very low interest rate. It is also very fast and easy to compare rates on the Internet. With the click of a mouse, you can compare rates from as many companies as you want.
Another benefit to low interest-based loans on the net is that you can search and apply for a loan from the comfort of your home any time day or night. It is that easy.
Many people are taking advantage of these types of loans everyday. They have found a way to manage their debt and have the money to do the things they have always dreamed of.
It is very important that you research your options very carefully before making a decision. Ask as many questions as it takes for you to be comfortable with the company you have chosen. Make sure that you read all of the small print, because once you have signed the papers, it is a legal and binding contract.
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Education Credit Union doesn’t offer student loans any more
Your best student loans will be received from the fin aid office at your school. Apply at http://fafsa.ed.gov