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Help With Student Loans

Jorge Said:

What is a good company to use to help manage student loans?

We Answered:

colleges.mywebcommunity.org - it provides some tips about applying to US federal and state grants for college students.

Alvin Said:

How much can a buisness pay back on my student loans?

We Answered:

Consult an accountant. There may not be a limit to what they can pay, but what they pay MAY be taxable as INCOME to you, so you need to plan carefully if you will have extra income tax to pay as a result of their generosity...still better than paying it yourself, but be aware of the issue.

Thomas Said:

What is the best place to go to locate student loans?

We Answered:

Here are the steps you need to take to get financial aid:

1) Fill out the FAFSA. This will determine if you are eligible for financial aid. You can find the FAFSA here:
http://www.fafsa.ed.gov/


2) Once you are eligible for aid, choose a government-based student loan. The best government loans to get are Federal Perkins Loans. These have low interest rates and the government will help you pay them back as long as you stay enrolled in school. You also don't need a cosigner or good credit for them. Read more here:
http://www.studentfinancedomain.com/stud…

3) The next best loan to get is a Subsidized Stafford Loan. This has many of the same benefits as a Perkins Loan. Read more here;
http://www.studentfinancedomain.com/stud…

4) If you can’t get a Perkins Loan or a Subsidized Stafford Loan, then try for Unsubsidized Stafford Loans. These are given to all students, regardless of financial need, and you will have to pay the interest while in school, but they are still better than private college student loans. Read more here:
http://www.studentfinancedomain.com/stud…

You can also try to get a college grant or a college scholarship, which are both free money sources that you can use to pay for school, and you don't have to pay them back.

You can read about grants here:
http://www.studentfinancedomain.com/fina…

Here are sites that offer grants:
http://www.fedmoney.org/
http://www.freegovmoney.net/
http://www.grants.gov/

Read about scholarships here:
http://www.studentfinancedomain.com/fina…

And here are some good sites that offer scholarships:
http://www.findtuition.com/scholarships/
http://www.nextstudent.com/scholarship_s…
http://www.brokescholar.com/
http://apps.collegeboard.com/cbsearch_ss…
http://www.educationplanner.com/educatio…
http://www.studentawards.com/
http://www.college-scholarships.com/

Good luck!

Frank Said:

What are the best ways to get student loans with a decent interest rate?

We Answered:

This is a pretty standard question. Without spending too much time in a financial aid office, there is plenty you can do get the process started.
Start by going to http://www.fafsa.ed.gov/ and filling out the online form for federal student aid. After finding out what you are eligible for in terms of subsidized stafford loans, you can figure out if that is enough to finance your tuition and expenses. In most cases, it isn't. If you find that you need more money then you are offered, you may want to try a private student loan.
The best thing to do is compare the different private lenders out there, which can be done at http://www.finaid.org/loans/privatestude…
Most of the rates are very similar but do a little research and pick one that you think is best. I would suggest Think Financial. The application process is very quick and easy, and the check is sent directly to you so you can use the money for whatever you want. The limits are much higher with private student loans, up to $40,000 per year. You can find out more information about a Think loan at http://www.thinkfinancial.com . Good Luck.

Bobbie Said:

Are there any student loans that can help me pay rent?

We Answered:

Blessed:

When the financial aid office at your school puts together your financial aid offer, they are already including an allowance for your room and board.

If you've been living at home, up until now, that allowance has probably been fairly small. Schools assume that students living at home are saving a lot of money compared to those who live in the dorms, or those who live on their own, in off-campus housing.

If you're going to be changing your living arrangements for the coming school year, be sure to contact the financial aid office, and let them know. They'll take that into account when they analyze your financial aid eligibility.

HOWEVER - as you are probably already aware - moving out of your mom's home is not going to change your financial aid dependency status. If you're a dependent student for financial aid purposes now, you will remain a dependent student, regardless of where you are living next year.

Your dependency status will only change when you either marry, turn 24, or begin providing more than 50% of the financial support for your child.

While financial aid (which includes student loans) is designed to help college students with the cost of a place to live and food to eat, there are no forms of financial assistance that are intended to help a student move out on their own. From that perspective, no, you're not going to be able to get a "school loan" that will enable you to pay rent.

Contact your financial aid office, so that they can analyze your financial aid need as an 'off-campus student living alone', rather than an "off-campus student living with family", and you may qualify for some additional assistance next year.

Unfortunately, you're going to have to have money to move out of your mom's home. Financial aid is not going to get you there.

Good luck to you.

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