Apply for Student Loans

Apply for Student Loans

thefilmarchive.org April 24, 2012 Higher, post-secondary, tertiary, or third level education is the stage of learning that occurs at universities, academies, colleges, seminaries, and institutes of technology. Higher education also includes certain collegiate-level institutions, such as vocational schools, trade schools, and career colleges, that award academic degrees or professional certifications. The right of access to higher education is mentioned in a number of international human rights instruments. The UN International Covenant on Economic, Social and Cultural Rights of 1966 declares, in Article 13, that "higher education shall be made equally accessible to all, on the basis of capacity, by every appropriate means, and in particular by the progressive introduction of free education". In Europe, Article 2 of the First Protocol to the European Convention on Human Rights, adopted in 1950, obligates all signatory p arties to guarantee the right to education. Higher education is an educational level that follows the completion of a school providing a secondary education, such as a high school, secondary school, or gymnasium. Tertiary education is normally taken to include undergraduate and postgraduate education, as well as vocational education and training. Colleges, universities, and institutes of technology are the main institutions that provide tertiary education (sometimes known collectively as tertiary institutions). Examples of institutions that provide post ...

Student Loan Interest Rates: Stafford Loans, Affordable Higher Education, Chapel Hill, NC (2012)

There are many sources of student aid and no student should assume that a higher education is simply beyond their means. One of those sources of aid is the student loan.

The first thing every student should do is see if they're eligible for any sort of grants, work-study, scholarships, fellowships, etc. "Free money" is always better than money the student will have to pay back. A financial aid package from colleges will delineate what monies the college or university is offering the student and, most probably, loans will be on the list.

But first things first: for colleges to decide if you are eligible for student aid, the colleges need to ascertain student financial need. Most colleges will ask a student, or a student's parents, to fill out a FAFSA, or Free Application for Student Aid. It's a long form and parents, or independent students, will need to have their latest tax returns handy when filling out a FAFSA.

Student loans come in two varieties, Federal and private.

The best loans are Federal loans.

Federal loans may be subsidized (the Federal government will pay interest on the loan while the student is in college) or unsubsidized (the student will be accruing interest on that loan while the student is in college.) There are several "levels" of Federal loans:

Subsidized Stafford Loans are for students with financial need and Perkins Loans are for students with the greatest financial need. Students who are eligible for Perkins Loans get 5% interest and ten years to pay off the loans. Some Perkins Loans can be partially cancelled if the student goes into teaching in a low income area, or teaches a subject where there are few teachers available (science and math) or joins the Peace Corp.

Unsubsidized Stafford Loans are available to students regardless of need as are Parent Plus Loans, which are actually loans to parents for use in helping put their children through college.

Private loans are available through banks and other lending institutions.

They are not as valuable as Federal loans as they will invariably cost students more. However, they're available whether a student has financial need or not.

The best private loans are available to students, or the parents of students, who have the best credit ratings and cosigners with top credit ratings.

Before students become too concerned about student loans they should always spend some time looking over their financial aid packages and then speak with financial aid advisors at their college of choice. These trained professionals are there to help students figure out the best financial packages for the student so that he or she can attend the college in question.

It's safe to say that there is financial aid and student loans available to most students today, so don't throw in the towel and decide that college is beyond your means. The needier you are, the more likely that you will be eligible college loans and other financial aid.

 

 

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