Archive for the ‘Student Loan’ Category
Student Loan
Student Loan
The amount of erroneous information about student loans is amazing. The media has become all about ratings (read money).
The new student loan law changes included in the design of health care reform is a good example. Taking out the loan guarantees by credit institutions (not all of you student loans unpaid fee) and collecting interest on loans directly to students. Basically took the intermediary that are guaranteed not to lose money and all profits earned from the interest on these loans. Student loans are big business and even with a high rate of default is still a strong field, regardless of the economy.
OK, let’s go to the biggest myths about student loans, now that the government has changed many of the basic rules.
Student loans will now be more expensive
The main changes involved the expansion and reduce the amount of the payments after graduation.
Available financial aid will be reduced
The financial assistance covers many areas of grants, scholarships, private grants or scholarships to college or university and rebates, and loans. Student loans are the most common system of financial aid and student are still available, just as they were before the changes have occurred. Not sure what you can qualify for up to go to your college financial aid office and let them assess your specific situation.
Not qualify for financial aid because of the income of my parents’
Some financial aid is based on need and financial status of parents. But most colleges to review the whole picture and not just income. private grants and subsidized programs are based on criteria other than financial needs (a good example if you or your parents work for a company that provides financial aid for college).