|Students can still consolidate their loans at rates at all time lows. It is also possible for the first time this year to consolidate bank-based Stafford loans while still in school. You can do this by putting them in repayment status then asking to defer payments until graduation.Few students can afford to pay for college without some form of education financing. Two-thirds of undergraduate students graduate with some debt, and the average debt is over $20,000. Graduate and professional students seeking Masters degrees and Doctorates borrow even more enormous amounts. Grants, scholarships, work-study and other forms of aid do not cover the full cost of a college education. Student Loan rates are going up along with other interest rates. On July 1, 2005, the federal government reset the student loan interest rates from 1.625% to 3.45%. Student PLUS loans went from 2.17% to 4.1%. Now is the time to get into a student loan or PLUS loan while rates are still low.Many students find that they must supplement their savings with government and private loans. Education loans come in three major categories: student loans, parent loans and private loans. A fourth type, consolidation loans, allows the borrower to lump all of their loans into one loan for simplified payment. We now offer tips on student loan defaulting, EstudentLoan and FinancialAid to help you find the best loan that suits your individual needs.|
|Financial Aid Online offers great research for college students before and after college on loans and university expenses and gives you a choice of what lender you want to pick!
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|Tips to getting more out of a financial aid loan…