subject: How Do Student Loans Help Student For their Cost of Higher Education? [print this page] As we know that many college student might not be able to pay their education cost. They need a financial aid such as student loans. It is a helpful way for them. The most common loans are federal student loans offered by the government, though private student loans are also available from banks and credit unions.
The federal government offers a Stafford Loans program, which most students are eligible to participate in. You must fill out a Free Application for Federal Student Aid (FAFSA) in order to be offered such a loan. You do not have to pay on federal loans while still attending school. However, if you receive unsubsidized loans, interest accrues on your debt while you are in college. These loans are offered to almost any student who does not have a drug-related felony, regardless of financial status. Subsidized loans, which do not incur interest while you attend your education program, are usually offered to only those with the most financial need.
For Private student loans, Lenders such as Chase and Citibank (see Resources below) offer private student loans. However, these require credit and income qualification. Many students will need a co-signer who has solid credit and provable income, though there are exceptions. Some banks will lend as much as $50,000 to help pay for college, and this can be a helpful tool if you want to attend an expensive college you may not otherwise be able to afford. Like government student loans, private student loans normally do not have to be paid back until you leave school.
How Do Student Loans Help Student For their Cost of Higher Education?
