Frequently Asked Question(s)
Q:What are direct to consumer private student loans?
A:Direct to consumer private student loans are a type of financial aid offered by private institutions. Students can take loans or borrow money directly from these institutions without needing the approval of their college/university. These loans normally have a fixed interest rate and repayment schedule. The process for applying for direct to consumer private student loans is simple and efficient.
Q:As I checked out the student loan options, there was mention of PLUS Loans. I want to apply but am concerned about the prepayment penalties. Can you please fill me in?
A:It is common to get to read about PLUS Loans while going through the Student Loan Options. This loan is one of the best federal loans available and is available for the parents or legal guardians of the student. The best part about this loan is that it has the facility to prepay as much as you want. There are no prepay penalties!
Q:What is the procedure for applying for federal financial aid student loans?
A:The procedure for federal financial aid student loans application is pretty straightforward. Students interested in loans are required to fill out the FASFA application and quote the federal school code for the institution. The federal school code is available from the University's official website. There might be another application that needs to be filled out, this depends on the institution's financial criterion. It is recommended that students fill out all the required information and make sure that the information is up to date and accurate.
Q:What is the eligibility criterion for students interested in applying for Direct Federal student loans?
A:Students interested in applying for Direct Federal student loans need to satisfy the following criterion in order to be eligible. Applicants need to demonstrate financial need and be a U.S. national in order to apply for federal aid. Enrollment in an accredited educational institution is also mandatory and students need to register for Selective Service if required. Eligibility also requires students not to be in default on any federal loans and have a valid social security number.
Q:As I read about the student loan calculator, there was mention of the course on Strategic Management. What are the contents of this course?
A:It is common to get to read about the course on Strategic Management while going through the Student Loan Calculator related articles. This course usually is worth 2 credits in total. It is designed to provide students with strong understanding of the strategic level management problems that are needed to be able to discuss the issues of a business environment.
Q:What are the benefits of consolidating student loans?
A:There are a number of benefits associated with consolidating student loans. Students opt for consolidation when they find it hard to keep up with their monthly payments. With the help of consolidation, students can lower their monthly payments and increase the term of their loan. Furthermore, students are recommended to make sure to consolidate federal and private loans separately. And students should refrain from consolidating loans if they are close to paying off their entire loans.
Q:Can I get student loans for living expenses?
A:There are student loans available to help students focus on their studies without having to worry about expenses all the time. In this regard, personal student loans are offered by federal government and also by private companies. Student loans for living expenses, college tuition, purchase of books etc can help ease the burden of students and can be of great help.
Q:Can I get a student loan without filling out a FAFSA form?
A:No, to apply for federal student loan, you must fill out a FAFSA form. This is one of the basic steps to applying for loans. The form is available online at FAFSA.ed.gov and can be submitted online. A FAFSA is used to determine the financial need of the applicant and eligibility for loans.
Q:What can you tell me about guaranteed approval student loans?
A:Guaranteed approval student loans are ones that fall in the federal loans category if you qualify for them on need basis. For this a student has to fill the FAFSA application, and when the need for finances is verified, loans by the government are awarded. A popular loan that is availed by many students is the Stafford loan.
Q:Is it possible to make a student loan payment online?
A:It is possible to make online payments. You will have to check with your lender to see if they would be happy to accept the same. It is likely that they will require you have a credit card. Of course, you should ensure that you have sufficient funds to make the payment. You should do your best to make sure that you make you loan payments on time.
Q:Can a student with a disciplinary record get students loans?
A:The decision to give students loan to those with disciplinary record depends on the state laws. It also depends on the type of crime convicted by the student. Generally, those with conviction records have restricted or limited eligibility for government loans. Those in federal or state institutions with conviction record may not be able to get student loan at all.
Q:What are student loans?
A:A student loan is given to students by banks and other financial institutions to help pay the costs associated with college and university study. This may include paying for tuition, living expenses, books, travelling etc. most student loans have a low interest rate and a long term loan repayment period so help students easily pay off their debt.