Student Loans

When Will I See My Student Loan Money?

2008-10-31T10:38:00.000-07:00

What a relief. You finally finished filling out all of those forms. You returned everything you were supposed to return by the right dates. You finally got approval and have been awarded a specific amount of money through a student loan program. Now you are watching the mail and nothing is happening. This has many students wondering, “When will I see my student loan money?”
When and how student loan money is distributed depends on what type of loan you received. For example, Stafford Loan money can only be distributed one-half at a time. Even then, it depends on whether you were awarded a Federal Direct Loan (FDLP) or a Federal Family Education Loan (FFEL), commonly known as PLUS loans, for parents.
If you are looking for Federal Direct Loan money, then you will not actually get a check. The check is sent from the U.S. Treasury to the Department of Education. Then they will send it to your school. So, one-half of your student loan money has probably been sent to your school. Your school will use the money to pay for your tuition, books, room and board, or any other school fees that come up. Then they will receive the other half. They will use that half for any remaining fees and then present you with the remainder in the form of check or cash.
Federal Direct Loans have a six month grace period in which you do not have to start paying back the loan. If you were awarded a subsidized loan, then the interest is subsidized by the government. This means that the government pays the interest on the loan for you while you are in school. If your loan is unsubsidized, then you will be responsible for all interest that accumulates while you attend school.
Federal Family Education Loans are loans taken out by parents that wish to pay for their child’s tuition, room and board, books and other expenses. These payments are also sent out to the school one-half of the total amount at a time. The money will, again, be applied to tuition, room and board, books and other expenses. Your parents will receive any remaining funds and they are responsible for making the payments on the loan. There is not a deferment period on these types of loans and your parents will need to start making payments as soon as the funds are dispersed.
So, you can stop checking your mail for student loans. They are probably on their way to your school if they are not there already.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

Will the Market Affect Student Loans?

2008-10-31T10:34:00.000-07:00

Market fluctuation is normal, but recent declines have grabbed the attention of everyone. Students and parents may be feeling the crunch. Credit based student loans may be harder to get. We may assume that we know what will happen. Fewer loans may be available. Rates could increase. As a result, more people may default on loans causing things to look even worse for the future. But is this really how it will happen?
Not necessarily. The main reason for loan defaults in the past has been that loans have been generously given out in amounts that maybe they should not have been. Everyone was issuing high-risk volatile unsecured debt to just about anyone. This tightening of the belt should help everyone’s situation improve.
The crunch can also help to balance the scales between private and state schools. Private schools have been able to charge whatever they wanted in the past. They could constantly increase tuition rates knowing that basically everyone that wanted to could get a student loan to cover it. They also were not very concerned about students defaulting later because their upper education reputation would almost guarantee higher paying jobs for their graduates.
State schools are reporting little or no difficulty in getting Federal Student Loans for their students. Private schools are having the greatest difficulty because they do not always have access to the funding that state schools receive. Without the money to offer scholarships to top potential students and without paying students having the ability to secure enormous student loans, they have to consider the alternative of lowering their costs and tuition rates.
This can make a private school higher education possible for more students. It can drive more students unable to obtain large loans to the state schools. This brings in more money for the schools to use for loans and there is a trickle down affect. College educations become more balanced, tuition can be lowered, and students will no longer be given big loans that they can never repay.
All of the problems that we have created can certainly start to even themselves out because of the market crisis. It really may turn out that everything is more fair and an even playing field for most people involved. At the same time, a lot of student loan programs are being restructured so that students and parents are not left destitute for sometimes decades after graduation. Student loans and private student loans will be getting more organized, widely available and with flexible terms so that defaulting is no longer such a concern for lenders.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

Financial Aid Plan

2008-10-07T16:11:00.000-07:00

Most people need help getting through college. It can be very expensive, and if current trends continue, it will only get more and more expensive. Many families have been unable to keep up with the rising costs of tuition, not to mention the cost of living on or off campus. This is why it is very important for prospective college students to thoroughly prepare.
While you are in high school, you need to be involved in as many clubs and organizations as possible. This includes sports, academic clubs and community service organizations. Holding office in your clubs is helpful as well. If you are a captain or co-captain of a sports team, then there is a chance that you could receive a scholarship to help pay for college. Remember, you could be the best soccer player in the state and still be denied a scholarship for grades, standardized test scores, attendance, or lack of involvement in other school organizations. It also does not hurt to be involved in your community outside of school.
Scholarships can be very hard to obtain, even for the cream of the crop of your school. You should never assume that you will get a scholarship and delay preparing for college expenses. Save as much as possible and try to get debt, cars or your home paid off before college begins. Students rarely have the time or earning power to pay for their own expenses in college. Those who do often fall behind on class work because of their job responsibilities and it can be detrimental to their entire college career.
After scholarships have been exhausted, you should look into Federal Student Aid offered by your state. Fill out the Free Application for Federal Student Aid (FAFSA) available online or through your school. This money is offered to college students from the Department of Education. Make sure that you talk to your school counselor at the beginning of your senior year of high school to meet all of the deadlines for this type of money.
Next, do some research and look for education grants. Grant money is often overlooked by students looking for financial aid. Many times, money just goes unclaimed when it could have saved someone years of student loan payments.
Student Loans can be used to pay for remaining college expenses. Some are only earmarked for tuition, and there may be other restrictions. Private Student Loans can be obtained quickly and easily, depending on your or your parents’ credit history. Student Loans generally have flexible repayment options, good rates, and can sometimes have deferred repayment plans that do not start until after graduation. Be careful not to take out more than you can handle. Private Student Loans are popular for taking care of costs not covered by scholarships, grants or other Private Student Loans.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

What Types of Student Loans are there?

2008-10-07T16:06:00.001-07:00

Many people do not know where to start when considering student loans or even private student loans. The first thing you should do is study up on the different types of loans that are available. You may consider taking notes so that you can carefully review the different types and determine what you might qualify for and what types would best fit your financial situation.
First you apply for all of the grants and scholarships you can get your hands on. When you determine how much of your tuition will be covered by these types of awards, then you will have an idea of how much student loan money you should apply for. Remember to pay as much out of pocket as possible so that you or your parents do not end up in over your heads when the loan payments come due.
The first loan that most people apply for is the Stafford Loan. Stafford loans are subsidized by the government so your interest is paid for you as long as you are in school. If you have a life crisis that falls into the Stafford Loan guidelines, you may qualify for a loan deferment later on. Again, the government will make the interest payments for you while you are getting back on your feet. Having the government involved makes lending you money a lot less risky. For this reason, you can receive some of the best rates and terms available on Stafford Loans. You also do not have to start making payments until after graduation.
The Government Subsidized Stafford Loan has strict income guidelines and everyone may not qualify. If you do not, then you may qualify for an Unsubsidized Stafford Loan. In this loan, the government is not involved so you will be solely responsible for all of your payments and interest. You will still be able to defer payments until after graduation and in the case of a qualifying emergency. These types of Stafford Loans are the ones that most people qualify for and hope to get.
If your Stafford Loan money is not enough or if you simply do not qualify, your parents may choose to apply for a Federal Plus Loan. Low income families may qualify for a Federal Perkins Loan. These loans are the responsibility of the parents to pay off. They have good terms and interest rates. If you do not qualify, you may consider Private Student Loans.
Private Student Loans can be taken out by parents or students. The application process is a lot quicker and easier than Federal Loans and the terms are still favorable. Private Student Loans have more strict terms and may have higher interest rates, but you have the freedom to use Private Student Loans for whatever you need while you are in college. Your credit will determine what types of terms and rates you receive for your Private Student Loans.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

Stafford Loan Basics

2008-10-07T16:03:00.000-07:00

Most people struggle to pay for college. If you are looking for financial assistance, you may be considering a Stafford Loan. Before you start applying for loans, make sure that you have exhausted all grant and scholarship opportunities. If you can obtain grant money or scholarship money, then you will not have to pay back the money that you receive. The fact of the matter is, that most of the time students are not able to secure enough funding through these avenues to pay for the school that they need. This has the majority of parents and students turning to student loans for help.
Getting student loans can be confusing if you do not know where to start. Many people start with the Stafford Loan for many reasons. First of all, the Stafford Loan has a fairly low interest rate and can usually beat out other types of loans in this area. The Stafford Loan also lets you put off, or defer, your repayment until after graduation. There are a few flexible repayment plans that you can choose from, making repayment fit your personal situation as closely as possible. This can help you to avoid lapses in payment and ultimately lose your good deal or tarnish your credit history.
Either the student or the parents can fill out the FAFSA (Free Application for Federal Student Aid) available online or through your school. This application will take many things into consideration when determining how much financial aid you are eligible for. It will consider the number of children attending college, income, number of people the family is supporting, savings including retirement accounts. The FAFSA will estimate how much your family can pay out of pocket for college expenses and a Stafford Loan may be awarded for the remainder.
This process is designed to keep people from taking out more in student loans than they need to. The formula used on the FAFSA is very accurate and most people are happy with the outcome. You will send in the FAFSA application and then wait for the Student Aid Report (SAR) to come in the mail. The SAR will let you know what you qualified for. If you approve the information, then another form will be sent to the school of your choice. An additional form will be sent to the state to see if you qualify for any additional monies from the state. After you fill out and approve the acceptance form, you will be sent details on how to get the money that you need.
If further assistance is needed, then you and your parents may look into other types of student loans or private student loans to fill in the gaps.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

529 Plans and Student Loans

2008-09-07T11:13:00.000-07:00

Saving for college is always a good idea. Some people start with a regular savings account through their bank. Others choose to invest in mutual funds or other security. There are some state sponsored plans that can help you get the best tax benefit for your money.
These state plans are referred to as qualified tuition plans, 529 plans or 529 programs. The money you put in is actually invested, so there is some risk. This is much like a 401K plan where your contributions are invested. Every state in the US offers at least one 529 plan. If you invest in a Texas 529 plan, live in Alabama and your child chooses to go to school in New York, you can still use that Texas sponsored 529, as long as the school your child is attending qualifies. Basically, the 529 savings plan has to be used at an accredited school. Check online for eligible institutions before you choose a school.
There is also a prepaid 529 plan that works a little differently. This program allows you to prepay for college tuition in-state. If your child decides to go to school out of state, then all is not totally lost. You can transfer your prepaid 529 to another state, but depending on the state, you could end up losing part of your money.
Colleges can offer their own 529 plans. If you choose to prepay for a specific institution, make sure that you know what terms you are agreeing to. There may be special restrictions about transferring to another school.
The best thing about 529 plans is the tax breaks. State tax breaks can vary from state to state, so check with your state to get the facts. Many states offer a state tax deduction for contributions that you make to the plan. You will not get a federal tax break on the contributions, but your earnings will grow tax-deferred.
You remain in complete control of the 529 account. The money is not in the child’s name and you can take it out whenever you wish. If you use the distributions to pay for college tuition, the distributions are federally tax-free. Your state may also let you have tax-free withdrawals, but this depends on the state. If you want to take the money out and use it for something other than college, then the distribution will be a taxable event, federally and from your state. Additionally you will be charged a 10% penalty for withdrawing for something other than school.
Most people do not end up saving near enough for college and start looking for other forms of financial aid. There are a lot of special benefits and terms for college students who need to take out student loans or private student loans. Do your research and college could be easier to pay for than you planned.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

No Co-Signer Student Loans

2008-09-07T11:07:00.000-07:00

Most students seek out some form of financial assistance when getting ready to pay for school. This is not surprising considering the cost of tuition. Even if you have saved a considerable amount for college, chances are you will quickly run out. The cost of living at college can become a huge burden to most people and that savings account just may not be enough. College costs can soar way above the money spent on tuition and books. If you are looking for student loans or private student loans with no co-signer, then you will need to do some research first.
There are a lot of different kinds of financial help out there. Most require that you have good credit, which sends many students searching for a co-signer. If having a co-signer just is not an option for you, then you may be limited to certain types of federal aid or private student loans. Of course, scholarship and grant money are best, but you may still end up needing additional help.
If you have good credit then you are in a good spot. Many college students have yet to establish their credit and can use student loans to do that. Lenders recognize the fact that students have a high potential to make a good salary when they graduate, so they are more lenient on loan amounts and interest rates.
If you are a student, you want to go for the best terms possible to begin. This means trying your hand at the Federal Student Loan level. Perkins loans and Stafford loans are fairly easy to qualify for. They also may have favorable terms for students, such as payments deferred until after graduation, low origination fees, fixed low interest rates and low fees. If you do not qualify or if you do not get enough money from these types of loans, then you may want to move into the financial aid sector through your school.
You will need to fill out a FAFSA, Free Application for Federal Student Aid, application. With this application, you can possibly get grant money or other Federal aid that is out there. You will need to fill this out for the Perkins or Stafford Loans as well. When you have exhausted all scholarship, grant, Perkins and Stafford Loan money, you may need to turn to a private lender for additional help.
Your school may offer a list of lenders to choose from, but you can actually compare many lenders at once by going online to look for private student loans. This service has ended the days of driving from bank to bank, putting multiple inquiries on your credit, and still possibly ending up with unfavorable terms. This could be a very important step when securing private student loans without a co-signer.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

Alternative Student Loans

2008-09-07T11:02:00.000-07:00

Many students are awarded all types of financial aid and student loans that cover tuition. Unfortunately, college costs can far exceed the price of your class. Private student loans, or alternative loans, can help to bridge the gap between your financial aid, scholarships and living expenses.
Private student loans can be used for just about anything that you need while you are in school. You can use them for a laptop, car, food, and gasoline, whatever you need while you are in school. Many private student loans will allow you to defer payments on the loan until after graduation. This can be a big help when it comes to getting yourself through school.
You will need to do some comparison shopping before you apply for a private student loan. Compare rates, terms, perks and fees before you fill out an application. Some loans may require a hefty origination fee. Some may not offer deferred payments. Some will offer specials circumstance leeway with payments for future times of need. Educate yourself on the types of benefits you can receive from different types of private student loans before you apply.
Some students may get the idea to apply for as many loans as possible instead of doing the legwork and figuring out which private student loan is best before applying. This can be detrimental to your cause. This is because each application you put in reflects as a credit inquiry on your credit report, and can affect your credit rating. Your credit rating will determine whether or not you qualify for those better loans. So, do not jump the gun and just start filling out random applications, shop around and compare lenders before you commit.
Once you have your loan, stick to making payments on time, every time to protect your credit. Paying a loan on time can really help your credit score. Paying more than the minimum is also helpful. If you ever anticipate not being able to make a payment, call your lender right away. Keep in touch with them and make a concerted effort to resolve the situation. This could mean the difference in having a bad hit on your credit or keeping it blemish free. Do not ever blow off a loan payment. Every late payment goes on your credit. It can also cause you to lose good interest rates or other benefits.
Some private student loan lenders offer special reduced rates to customers that make on time payments for an extended period of time. One late payment could count you out of this special deal and could even cause your rate to increase.
Be wise and educate yourself about private student loans before you sign on the dotted line. Make sure that you know exactly how the payment plan works and work towards the goals of better rates and special deals. Keep your payments on time and your credit in check.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

Student Loan Market Struggles and Avoiding Default

2008-08-07T20:29:00.001-07:00

Due to many recent defaults on student loans and fluctuations in the market, lenders are projecting lower and lower profits made on student loans. This has caused some lenders to pull out of the student loan market all together. The government has also cut subsidies to student loan lenders giving them less incentive to offer special rates.
This does not mean that you cannot find good rates and good terms on student loans. You may not see as many deals and incentives as you used to, but there are still good loans out there. You may just end up shopping around more than you expected. Use web sites that offer comparisons of terms and rates from many lenders to help bring some clarity to your search.
Once you have your student loan, it is important to follow the rules and avoid defaulting at all costs. Defaulting is a major problem that could be avoided if more people had shopped around before they got into a situation with a loan that may not have been the best fit for their situation. The internet gives us the advantage of sitting at home and doing our own research. Long gone are the days of driving from bank to bank, or just accepting the list of lenders that our school offered.
Avoiding default can be as simple as calling your lender. Ask about repayment programs. Some payments can be figured using your income, meaning that you pay more only when you make more money. Forbearance can be granted or payments can be deferred if you qualify. The trick is that you have to ask. Simply not making a payment is not a wise decision.
Student loans are considered in default after only sixty days. Your loan balance can jump up to more than you originally borrowed. Even bankruptcy does not make all student loans go away. Even worse, the government has the power to collect on many loans. They first go the IRS and take any refunds or credits that you have due. If the balance is not covered by that, then they can garnish your wages. You will have no control over the government getting to your money before you do. They even collect your Social Security benefits or any other government monies that you have coming to you. If they cannot get enough that way, then they can sue you.
Defaulting on student loans is a serious matter and you should take every step possible to avoid it. Make sure that the student loan you select meets your needs. Shop around and make sure that the terms are acceptable before you accept. Ask about special terms such as forbearance, deferments, financial hardships and repayment options. Once you have compared lenders and types of loans online, you will be better equipped to avoid defaulting on your student loans.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

Comparison Shopping for Student Loans

2008-08-07T19:45:00.000-07:00

Finding the ideal student loan lender can be a nightmare if you plan on driving from bank to bank. If you only go to your school for suggestions, you could end up with unfavorable rates or even worse, unfavorable terms that could end up costing you a fortune in the long run. Shopping around to compare student loan lenders is a very smart move. The problem is that many people do not know where to begin.
The good news is that finding the right student loan has never been easier. Thanks to the internet, students and parents can now shop multiple top lenders without ever leaving their homes. Web sites are available that have comparison tools to help you compare loans and lenders. This can make a huge difference in the amount that you end up paying or the terms that you end up with.
Shop around for loans that you may qualify for. If you have good credit, then you can get some great rates and terms for repayment. If you do not have perfect credit, relax. There are still loans out there that will fit your needs. You may have questions about which facts you need to compare.
The first thing to look for is a good APR. Percentage rates can affect how much you pay in the long run. Fixed rates make repayment a lot easier to plan for. Fluctuating rates can change your minimum payment with short notice and get you into trouble. If you do accept a rate that can change, find out if it changes yearly or on any other type of schedule. Be prepared for a larger payment if it happens to come up.
Ask about your monthly minimum payment. No matter how great terms and rates are, you have to be able to pay the monthly rate or you may not keep those great terms for long. Some loans have deferred payments that can let you suspend payments until after graduation. This brings us to terms.
Find out about origination fees. Many loans have an origination fee, which simply means that you will have to pay a lump sum up front before you can get the loan money. This amount can be a hefty sum, so make sure you ask before you accept a loan. Find out about any other special incentives and compare them from lender to lender, loan to loan. Some lenders reward you for on time payments by lowering your rates. There may be other useful terms of the loan that you may not know about until you ask.
Once you narrow down the lenders and loans, make yourself a chart and compare incentives and rates. Using an online source to do this can save you a lot of time and energy. Getting your student loans should not be a shot in the dark. It is an important decision that you do not want to take lightly.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

Where is my Student Loan Money?

2008-08-07T19:25:00.000-07:00

Turmoil in the market has caused many companies to suspend student loans and private student loans leaving many students empty handed this school year. Many companies have discontinued offering Federal Student Loans as well. Lots of students, left empty handed, have turned to their schools to get the loans that they need.
What they may not realize is that there are a lot of reputable lenders still out there offering good rates and terms for student loans. Shopping around could really pay off. If you are a student in immediate need of a loan for school, do not panic and run straight to the first person that offers you a loan. It actually does not take as long as you would expect to compare lenders. Look for web sites that offer many different types of student loans and private student loans. These comparison sites can be crucial in your student loan shopping.
You can compare only companies and lenders that fit your criteria. This will help you to quickly narrow down the field and make a good decision that will reward you for years to come. Choosing a company to borrow from can be a very important part of getting your student loans. Use the tools that are out there to make sure that you make a wise decision.
Make a list of your questions and compare lenders. If you have good credit, then you could be eligible for some private student loans. They are quick and easy to get, in general. Check to see if the loan you need will require a co-signer. Look at interest rates, but be sure to weigh good interest rates against other factors. For instance, some lenders will offer great interest rates to attract borrowers, but be sure you understand the fine print. There may be hefty origination fees due at the beginning of the loan. They may have other fees built in that will end up costing you more than a loan at a higher interest rate with better terms.
When taking on a student loan, make sure you have the facts. Some offer fixed interest rates which can make them easier to manage. Some offer deferment, allowing you to not make payments until you are out of school. Some will offer no interest accrual while you are in school. Other perks may include putting off payments when you have a financial hardship. There are lots of payment plans to choose from, depending on which type of loan you receive.
Make sure that you do not accept the first thing that comes along until you research each type of loan and lender. Getting the right student loans for yourself can be done quickly and wisely if you take a little time to do it right.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

Travel Abroad Teaching English

2008-08-07T14:37:00.000-07:00

If you are looking for a career that takes you to places all over the world, you might want to start with the skills you already have – your language. Teaching English As A Second Language or ESL can help you visit the countries you always wish you could see.

What does it take? First of all, read up on the profession. Understand what kinds of opportunities are available. Make sure you know the qualifications for specific jobs. There are classes you can take to become better qualified. And if you are worried about paying for those classes, don’t worry about that as there are student loans and grants out there to help you out.

Second, become an active member of TESOL (Teaches of English to Speakers of Other Languages) and your local affiliate. Volunteer. Attend a conference. Give a presentation on any teaching idea you have.

Third, find out what jobs are available where you want to go. Talk to people. Ask questions. Consider all possibilities. A number of web sites carry information about jobs overseas, but try to talk personally with people who have spent time in the field. Remember that each person’s experience will be colored by their own expectations, perceptions of the world, and their working situations.

Fourth, ask yourself if you are you mentally prepared for teaching overseas? Too often, teachers who go to another country soon return home disenchanted because things did not turn out the way they expected. While the employer bears some of the responsibility for preparing the new recruit, this does not exempt the employee from gathering as much information as possible about the host country and the place where they will work. Study up and consider the following:

Fifth, go with a purpose in mind. Teachers who have clear professional goals and can sustain themselves by nurturing their professionalism through outside activities and (and don’t blame the foreign culture for personal misfortunes) have the best chance of a successful teaching experience.

Sixth, study the language and culture of the host country. Although many training programs focus on the linguistic elements of the profession, an equally compelling reason should lead us to focus attention on diversity training to help teachers in the acculturation process they will need to undergo in a foreign land. Teachers themselves should make an earnest attempt to learn something about cultural adjustment and training that will lead to successful experiences abroad. Learning the language is a key step to adjustment, so you are able to become an active participant in everyday life. Tapping into what is "hot" and "what's not" with our students shows them we are not removed spectators.

In addition to looking at the country you want to move to, look also at the school you will be working for. Ask for the email addresses and phone numbers of three of their current teachers? (The more the better, as it gives you a more honest picture of the school.) You can also check up on a school by checking blacklists and grey lists. There are web boards that list disreputable schools in various countries. Korea, in particular, has a large number of dedicated blacklists. So many, in fact, that the best advice may be to avoid working in Korea completely. Search the lists for schools you are considering. Post a question to the board... ask if anyone has had problems with the school you are considering. While this may yield results, blacklists are notoriously unreliable. Just because a school is not on the list does not mean it is a good one. Most bad schools, in fact, will not be found on any of the blacklists.

Last, enjoy the process and see where your new career can take you.

Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of private student loans and information on student loans and consolidation. For more information, please visit http://www.student-loans.net

Athletic Scholarships Abound

2008-07-21T12:34:00.000-07:00

You are a great athlete and feel it could help you pay for your education. The problem is, many athletic scholarships are set aside for elite athletes and they are very competitive and political. But have faith, there are many smaller colleges and universities willing to bring in athletes with funds and, most importantly, they are not only looking for athletic skills but also academic achievement and drive.

The most advertised and competitive athletic awards are the NCAA scholarships, by far, but there are so many more opportunities that go under-advertised for student athletes: those with schools in the NAIA and the NJCAA open up exponentially more scholarships. And an especially hot trend: emerging women’s sports.
NCAA Scholarships

The NCAA is by far the largest collegiate athletic association in the U.S. with well over 1,000 schools in its fold. Divisions I, II, and III serve to demarcate the sizes and monetization of athletic programs: formal athletic scholarships can be extended to athletes that play for Div I and II schools, but not for athletes in Div III schools. What determines which schools fall into which divisions? Generally a combination of school size along with types and sizes of athletic programs. If you are interested in how to position yourself for a NCAA scholarship make sure to check out the eligibility rules and get yourself registered in the Initial-Eligibility Clearinghouse. The NCAA’s list of athletic scholarships is separated into categories: Undergraduate, Post-Graduate; and then further separated by Division.

Athletic programs at Div I and Div II schools are mid- to large-sized and extremely competitive. Coaches at these schools are in the business of wooing top athletic talent, the best of the best across the country. Div III schools do not offer athletic scholarships, per se. Their athletic programs are much smaller, but make no mistake—many are quite competitive.

Here are a couple of the unique “athletic” scholarships that the NCAA funds:

* The Freedom Forum NCAA Sports Journalism Scholarship Program. This award is given to college students with a fierce desire to pursue sports journalism.
* The NCAA Ethnic Minority and Women’s Enhancement Postgraduate Scholarship Program is open to students heading into post-grad studies with an eye on sports administration, coaching, or a closely related career. Eligible applicants must be ethnic minorities to be considered for these awards.

The NAIA represents a much smaller contingent of member schools—about 300, and is located in Canada and the U.S. The NAIA sponsors athletic divisions I, II, and III—not to be confused with the NCAA divisions. Sponsored athletics are those generally outside the scope of NCAA Div I levels with a marked emphasis on the academic records of student athletes. Only about a dozen sports are represented and member institutions tend to be smaller. NAIA Div I and II sports programs may offer scholarships.
NJCAA Scholarships

Two-year colleges are represented by the NJCAA. There is divisional breakdown in some of the most competitive men’s and women’s sports, but not in others. Scholarships, called grant-in-aid by the NJCAA, may be available in the Div I and II sports. NJCAA scholarship sports for men are: baseball, basketball, cross country, golf, outdoor track and field, soccer, and tennis. NJCAA scholarship sports for women are: basketball, cross country, fast-pitch softball, outdoor track and field, soccer, tennis, and volleyball. Make no mistake, community college athletics can foster fiercely competitive athletes. If you’re considering transfer to a four-year school, a two-year athletic program can get you really prepared to compete.
Full Scholarships vs. Partial Scholarships

So how much money does an athletic scholarship include? Scholarships awarded for athletic ability typically fall into one of two categories: full scholarships and partial scholarships. These are completely dependent on the schools themselves. In the NCAA, over 125,000 student athletes are on full or partial athletic scholarships. Full scholarships regardless of division may include tuition, books, transportation, room and board, plus other expenses. Partial scholarships may cover various portions of those expenses just listed.

There are other sources to search for when you’re looking for scholarship money as well. First, browse our athletic scholarships by sport. In almost every instance you will find athletic scholarships from untapped sources alongside larger, “reach” scholarships. For example:

* Under hockey scholarships you’ll find memorial funds, money from hockey associations, and a scholarship from the Pittsburgh Penguins.
* Search rodeo scholarships you’ll find a blend of scholarships from colleges and universities that have rodeo teams, and a few good scholarships from regional rodeo associations.
* Browse archery scholarships and find a slew of archery and bow-hunters association scholarships alongside college and university scholarships.

The secret is to check out the less competitive scholarships, those especially from regional clubs and associations. Remember there are plenty of awards that are based as much on other personal attributes as they are on athletic skills: leadership qualities, extracurricular involvement, and community service.

Many schools offer partial scholarships to talented athletes in efforts to grow successful athletic programs. The opportunity just to play is as important.

So with a little education and some work, you might find that athletic scholarship just for you.

Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of private student loans and information on student loans and consolidation. For more information, please visit http://www.student-loans.net

Turning to Private Student Loans

2008-07-07T20:31:00.000-07:00

College is getting more and more expensive along with gas, housing, and many other aspects of our lives. Many people find it very difficult if not impossible to save for their children’s education despite their best efforts. Many students are able to get grants and scholarships to help fund their education, but often those monies run out or fall short of what is truly needed to go to school. More than half of all students are now turning to student loans to help fill in the gaps between jobs, money saved, scholarships and grants.
There are many types of student loans. Most often, students will apply for Federal student financial aid. Stafford Loans, Federal Perkins Loans and even PLUS Loans for parents may not be enough. If you do not qualify or if you simply do not get enough money from your Federal efforts, then check with your school. Many schools offer their own loans. State Aid is also available to many families that can help pay for your school. Some loans have restrictions and can only be used for tuition, room and board or books. College can become extremely expensive and extra money is almost always needed. Many students just need help paying for food and gas. Private Student Loans are becoming a popular option to help pay for some of these extra expenses.
Private Student Loans are not backed or subsidized by the government like other types of student loans. These types of loans are much like standard loans. They are backed by financial institutions and banks. Private Student Loans can be dispersed directly to the school of your choice to help pay for normal college expenses. They can also be paid directly to you and can be used for just about any college expense. Federal loans generally have a loan limit. This can leave a lot of students short. Private Student Loans do not really have a cap. You can borrow as much as you qualify for. Most Private Student Loan lenders require good credit, occasionally a cosigner, proof of enrollment in school, and a verifiable income. Standards can vary from lender to lender, so shop around. Some web sites offer submission to multiple institutions so that you can compare rates, terms and amounts approved by many institutions at once.
Many people think that private student loans will have a high interest rate. This is not necessarily true. They usually have a slightly higher rate than government backed Federal loans, but lower rates than conventional loans. When shopping around, check out and compare rates, terms and payback plans. Also be aware of origination fees, fiduciary fees, late fees and other types of fees. You should be made aware of all fees as well as the annual percentage rate before you take out a loan. Some lenders may offer special benefits that make them more similar to Federal loans, such as deferred payments until after graduation or forebearences which allow you to suspend payments during times of financial struggle. It can be hard to qualify for a forebearence, so make sure that you are aware of all the details before you make your decision.

Consolidation of Student Loans

2008-07-07T19:30:00.000-07:00

Student loans can be consolidated to reduce payments, fix interest rates and extend the life of the loan. Certain loans can be consolidated, including Stafford Loans, Federal Perkins Loans, and PLUS Loans. Although extensions of loans through consolidation can increase the total amount paid by the end of the loan, it can offer some financial relief and simplification of payment plans to student loan customers.
Stafford Loans are offered to students at a lower interest rate than most loans. Eligible students can enjoy delaying payments until after college. Subsidized Stafford Loans are given on a financial need basis. The government pays the interest on subsidized loans during the time that the student is enrolled in school. Unsubsidized loans accrue interest while you are in school and you are responsible for the repayment of this interest. Stafford Loans, subsidized and unsubsidized, can be consolidated into one loan with a fixed interest rate. This will generally extend the life of the loan, but can offer relief from high payments. Consolidation also helps simplify your payments, so that you can make only one payment per month instead of multiple payments with varying due dates to multiple loans.
The Federal Perkins Loan is subsidized by the government like a subsidized Stafford Loan. The government pays the interest that accrues on the loan during the time that the student is enrolled in college. Keep in mind that you must be enrolled at least half-time to qualify. The Stafford Loan has a six month after graduation or withdrawal grace period in which repayment does not begin. The Federal Perkins Loan has a nine month grace period. The Federal Perkins Loan has a special provision for teachers. Teachers may be able to cancel part of the amount that they owe on their Federal Perkins Loans. Teachers can qualify for a percentage of their loan to be cancelled for each year that they teach in special low-income schools, or in areas where there are teacher shortages. The Federal Perkins Loan carries a fixed interest rate of five percent and has a ten year repayment period. This repayment period can be extended through student loan consolidation.
PLUS Loans are sometimes referred to as parent loans. They can also be obtained by graduate students and students in professional study. Unlike Stafford Loans and Federal Perkins Loans, PLUS Loans do not have a grace period. Payments may be immediately due after the loan monies are dispersed. PLUS Loans usually have higher interest rates than Stafford Loans or Federal Perkins Loans, but they are generally not as difficult to qualify for. You are not required to have a financial need to qualify for a PLUS Loan, but you will, however, need to have good credit to qualify. Repayment plans are not as flexible with PLUS Loans, so many people turn to consolidation if they are having trouble repaying the loans.
Many students end up with Stafford Loans, Federal Perkins Loans, and PLUS Loans to repay. Students can now consolidate all of these loans into one easy to manage loan. Most student loans must be repaid within about ten years. But, with consolidation, you can extend the repayment period of these student loans for up to thirty years. This can make student loan debt a lot more manageable and repayment more attainable.

Scholarships for Artists

2008-06-27T18:20:00.000-07:00

It used to be that parent’s discouraged their kids from becoming artists. Now, the world of art is broad and can be very lucrative. And if you need another reason to convince your parents you want to go to art school, there are many schools offering scholarships and funding.

Art scholarships run the gamut from drawing to painting to photography to design and even include art of the culinary, musical and literary variety. Many art scholarships are specific to a particular state, county, or even a college in addition to the art major or art interest/ability requirement.

To get you started, here are some resources:

• Your University: Most Art Departments offer scholarships to students attending their schools, either directly through the school or through business, benefactors and foundations that support the school. Many schools also offer them to prospective students.

If you're attending or planning to attend a university, contact your Program Advisor to ask what scholarships may be available through the school or department (if you're already attending, definitely check in with your Art Instructors, too!). Don't forget to look for scholarship opportunities on the university department's web site or on a bulletin board near the Art Department office on-campus, where they also are often posted. Here are some typical departmental scholarship listings:

Baum School of Art
Birmingham Southern College
Cranbrook Academy of Art
Goshen College
Hendrix College
St. Lawrence University

Most universities do offer scholarships to students attending their schools. That's because they really, really want to keep you there. These kinds of scholarships are the easiest to find out about, but somehow overlooked by many students who could benefit greatly from the funding...and from the prestige of winning!

Just to reinforce this idea of funding from your university or college, the Department of Education reports that at public universities, scholarship and fellowship expenditures have risen consistently from 1980 through 1995.

This may be an indication that there are opportunities waiting for you. Again, at the very least, you should ask your Advisor about other sources if there are none available at your university for your circumstance.

• L. Ron Hubbard Illustrators of The Future Contest. Established in 1988, the L. Ron Hubbard Illustrators of The Future Contest is an ongoing merit competition for new and amateur artists. Run on a quarterly basis, an eligible entry is comprised of three science fiction/fantasy illustrations done in a black & white medium rendered from the artist's imagination. Should the artist win with this entry, he is then sent a story from the companion L. Ron Hubbard Writers of The Future Contest for which to render an illustration. This illustration then becomes his or her entry in the yearly Grand Prize competition. More

• Liberty Graphics Art Scholarship - Liberty Graphics is a Maine company, designing and printing t-shirts with concern for the environment. We are committed to the local economy and wish to encourage local talent. Liberty Graphics conducts a yearly juried art contest, and presents the winner with a $1000 award. The contest is open only to high school seniors who are a resident of Maine. Each year the contest theme may change. This year the contest title is "Art and Our Natural Environment". Entries should reflect an appreciation of our natural environment. More

• NFAA Arts Recognition and Talent Search ARTS (Arts Recognition and Talent Search®) is NFAA's core program. ARTS identifies high school seniors and other 17 and 18 year old artists in the disciplines of Dance, Film and Video, Jazz, Music, Photography, Theater, Visual Arts, Voice and Writing for scholarships and financial support. Through ARTS, NFAA annually awards up to $900,000 in cash awards (with individual awards ranging from $10,000 - $100)and makes available $3 million in scholarship opportunities to America's most outstanding high school senior-age artists through its Scholarship List Service (SLS). More

• The Scholastic Art Awards -The Scholastic Art Awards honor students currently enrolled in grades 7-12, recognizing about 50,000 regional winners. Nationally, 800 young artists' individual works receive Gold and Silver awards in each of 14 art categories. Art Categories are: animation, ceramics & glass, computer art, design, digital imagery, drawing, mixed media, painting, photography, printmaking, sculpture and video & film. Graduating high school seniors seeking scholarships must submit a body of eight works of art or photography for Portfolio Awards to their regional office of The Awards. More

• The WorldStudio Foundation Scholarship - Applicants must be pursuing an undergraduate or graduate degree in the fine or commercial arts, design or architecture – one or more of the design/arts disciplines below – and plan to enter a career in the creative professions. Applicants must be matriculated (or planning to matriculate) at accredited colleges and universities in the United States for the fall of the coming academic year and intend on maintaining full-time status for the entire year. International students studying at accredited colleges and universities in the United States may apply. More

• Charitable Foundations - The competition to receive funding from charitable foundations is pretty stiff, even from the local ones. That's because they do a very good job of soliciting applicants, and the awards are often larger than the smaller groups. Nevertheless, there are hundreds of these organizations giving away millions of dollars every year. If you know of any locally, you should inquire. Or, you can take a glance at these, too:

• National Foundations -Andy Warhol Foundation, Donna Reed Foundation for the Performing Arts, Jackie Robinson Foundation
You can see that there's a lot of work involved just to find these opportunities...but that's nothing compared to the work you'll need to put in to win them.

Bottom line: There's plenty of scholarship money available in the arts. You just need to show that you're worth the investment. And, if you are dedicated to pursuing a career in the arts, you may even enjoy the work it takes to stand out from the crowd anyway.

Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of private student loans and information on student loans and consolidation. For more information, please visit http://www.student-loans.net

Faith Based Funding for Students

2008-06-18T11:25:00.000-07:00

Your spirituality is very important to you, so much that you want to apply it in your career or maybe you just want to attend a Christian or Faith Based College. If so, here are a few places to look for funding.

1. Your College – Before checking any place else, check with the school you are interested in. Since a great many of these are awarded to students that are enrolled at the institute that they are offered at, you should schedule an appointment with your financial aid advisor and request information from her/him concerning what awards would be available to you.

2. Churches – Ask your pastor or head of your church if they offer grants or scholarships. Your church may not offer a specific scholarship, but church members may be willing to help fund a portion of your college education.

Additionally, church foundations offer scholarships, such as the United Church of Christ's scholarships. Ask your clergyman for the list of scholarships available from your organization. Many exist for those wishing to enter the clergy or do missionary work and several exist for those applying for general scholarships in both graduate and pre-graduate studies.

3. The Government - Another place Christian teens can find money for college is the government. There are government supported loans and grants that many college students opt to use to pay for their college costs. Grants are the better option, because they do not need to be paid back, but federal loans should not be discounted if scholarships and grants do not cover all costs. Every U.S. student, no matter how much contribution they receive from their parents, should put in a FAFSA application.

4. Private Lenders -Not every Christian teen will be eligible for government-backed loans and grants, and those same students may not receive as many scholarships they need. Another option for those students could be private loans. Several private lenders are now offering loans to students or their parents in order to help pay for a college education. However, these loans often come with higher interest rates and less flexible repayment options, so other options should be explored first.

Want to explore some more specific organizations that offer funding? Try these:

• Women's awards are also available for Christian women and minorities. Two notable ones are the Women's Missionary Union Scholarships and Lee Frances Heller Memorial Award.
United Church of Christ.

• The UCC offer the Brown Scholarships, which award awards up to $10,000 annually for students seeking pastoral degrees. This award is administered by the seven seminaries of the United Church of Christ and the Council of Racial and Ethnic Ministries (COREM).
• American Bible Society -Scholarships for Education, Medical and Seminary Students. The American Bible Society has received two endowments to fund scholarships.
• The William and Alice Brown endowment will provide a $3,000 scholarship for outstanding academic accomplishments and leadership potential in the fields of Medicine and Education.
• Lt. Colonel Robert and Mrs. Rae M. Goodridge, USAF Reserve Retired, Phd, have made possible four scholarships of $3,000 each, only for residents of Hawaii, who are full-time students in a post-graduate Protestant seminary or divinity program.
• Woman's Missionary Union - The WMU offers a number of scholarships to women or children of women missionaries and clergy. The foundation seeks to advance the support of Christian values through charity, educating and missionary work. Most of the awards are under $1000.
• R. Keith Parks Scholarship Fund: For post-graduate work for students wishing to enter the foreign missionary field.
• Carolyn Weatherfod Scholarship Fund: Another post-graduate award for students entering foreign missionary work.
• Julia C. Pugh Scholarship: This is for children of international and North American missionaries.
• Mattie J. C. Russell Scholarship: Another award for children of North American missionaries
• Lee Frances Heller Memorial Award

This is a scholarship sponsored by Julie Ann Johnson and awarded to a Christian transgendered student and can be used at any college or University for religious studies. Ms Heller made her life's work seeking to educate people in the Christian faith, focusing on her sisters of the transgendered community. This scholarship does require an essay of how your transgender identity and your membership in a church have related to one another. They also ask you to submit your home church and any other related leadership experience. Successful applicants will receive the scholarship in the amount of $1500.

Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of private student loans and information on student loans and consolidation. For more information, please visit http://www.student-loans.net

Take the Most Effective Notes in College

2008-06-18T10:03:00.000-07:00

Organization and diligence are paramount to success in college courses. It is up to you, the student, to understand the course material that is presented through various avenues including class lectures, textbook readings and assignments. Attending class lectures is extremely important because professors often emphasize valuable information that is critical to succeeding on the test. Taking detailed, accurate and legible notes will help you grasp the organization of material and will benefit you greatly at study time. Below are some simple note-taking techniques you can employ to help boost your test grades:

-Keep notes organized with lecture dates and chapter numbers. Staying organized helps ensure that you are not missing important material when you study for a test. Writing the date on all of your notes will help you stay organized should the pages get out of order, and also help remind you if you have missed any class meetings for which you need to get the notes. Likewise, noting the chapters being discussed in each lecture will help keep your notes organized and make it easy to reference material for which you need clarification or reiteration.

-Summarize important points and abbreviate words. Professors often speak quickly when lecturing. As a student, you will likely not have enough time to write down the lecture word for word, which is why summarizing material and abbreviating words is helpful. Rather than attempting to write down the lecture verbatim, summarize the most important points being covered by the professor. Be sure to include key terms, dates and names in your summary. If you create abbreviations of your own, be sure to make them obvious or make a side note of what each abbreviation means to avoid confusion later.

-Revisit your notes after class. After a class session of note taking, it is a good idea to read through your notes while the lecture material is fresh on your mind. The point of doing this is to be sure that your notes will be legible and understandable when you revisit them later. Many students find it beneficial to take this process a step further and rewrite or type their class notes. Not only does this give you a more streamlined set of notes to reference later, it reiterates the material, making it easier to learn.

-Read between the lines. Sometimes professors make note taking easy by specifying “this will be on the test.” When you are given such a valuable piece of information, be sure to highlight or otherwise notate its importance in your study material. Professors often provide insight into test material in more subtle ways as well. For instance, a professor may repeat a certain concept more than once, or mention “this is important,” “be sure to know this” or “you will see this again.” These clues should be noted as well to help ensure that you study the appropriate material. It is also a good idea to study heavily concepts that are emphasized in both lecture and the textbook.

-If appropriate, make recordings of lectures. For professors who approve, recording lectures is a good way to ensure that you do not miss important material covered during class. While you should still take notes during the lecture, a mini-recorder can help you fill in the blanks in your notes later if there is something you have missed. Listening to key parts of recorded lectures may also help you study, since material presented in a variety of ways is easier to remember.

Successful note taking is a skill that may take some practice to master. Developing and fine-tuning your own approach to thorough note-taking will help improve the quality of your notes as well as your grades.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of private student loans and information on student loans and consolidation. For more information, please visit http://www.student-loans.net

Studying Abroad

2008-06-10T14:08:00.000-07:00

You have always wanted to see other countries, learn first hand about their architecture, people, languages, land…..whatever your reason, studying abroad is a good way to do this.

Studying abroad can be a fun and safe experience but it is important to realize that you are subject to the laws and customs of another country. Here are some tips prepared by the Office of Overseas Services to help keep you prepared and safe.

* Although most trips abroad are trouble free, being prepared will go a long way to avoiding the possibility of serious trouble.
* Become familiar with the basic laws and customs of the country you plan to visit before you travel.
* Remember: Reckless behavior while in another country can do more than ruin your vacation; it can land you in a foreign jail or worse! To have a safe trip, avoid risky behavior and plan ahead.

Preparing for Your Trip Abroad

Apply early for your passport and, if necessary, any visas: Passports are required to enter and/or depart most countries around the world. Apply for a passport as soon as possible. Some countries also require U.S. citizens to obtain visas before entering. Most countries require visitors who are planning to study or work abroad to obtain visas before entering. Check with the embassy of the foreign country that you are planning to visit for up-to-date visa and other entry requirements. (Passport and visa information is available on the Internet at http://travel.state.gov .)

Learn about the countries that you plan to visit. Before departing, take the time to do some research about the people and their culture, and any problems that the country is experiencing that may affect your travel plans. The Department of State publishes Background Notes on about 170 countries. These brief, factual pamphlets contain information on each country''s culture, history, geography, economy, government, and current political situation.

Read the Country Specific Information. Country Specific Information provide up-to-date travel information on any country in the world that you plan to visit. They cover topics such as entry regulations, the crime and security situation, drug penalties, road conditions, and the location of the U.S. embassy, consulates, and consular agencies.

Check for Travel Warnings and Travel Alerts. Travel Warnings recommend U.S. citizens defer travel to a country because of dangerous conditions. Travel Alerts provide fast-breaking information about relatively short-term conditions that may pose risks to the security of travelers.

Register with the nearest U.S. embassy or consulate. Register with the nearest U.S. embassy or consulate through the State Department’s travel registration website. Registration will make your presence and whereabouts known in case it is necessary to contact you in an emergency. In accordance with the Privacy Act, information on your welfare and whereabouts may not be released without your express authorization.

Remember to leave a detailed itinerary and the numbers or copies of your passport or other citizenship documents with a friend or relative in the United States. (U.S. embassy and consulate locations can be found in the country''s Country Specific Information.) If your family needs to reach you because of an emergency, they can pass a message to you through the Office of Overseas Citizens Services at 202-647-5225. This office will contact the embassy or consulate in the country where you are traveling and pass a message from your family to you. Remember consular officers cannot cash checks, lend money or serve as your attorney. They can, however, if the need arises, assist you in obtaining emergency funds from your family, help you find an attorney, help you find medical assistance, and replace your lost or stolen passport.

Find out what information your school offers. Find out whether your school offers additional information for students who are planning to study, travel, or work abroad. Many student advisors can provide you with information about studying or working abroad. They may also be able to provide you with information on any travel benefits for students (e.g. how to save money on transportation and accommodations, and other resources.)

Before committing yourself or your finances, find out about the organization and what it offers. The majority of private programs for vacation, study or work abroad are reputable and financially sound. However, some charge exorbitant fees, use deliberately false "educational" claims, and provide working conditions far different from those advertised. Even programs of legitimate organizations can be poorly administered.

Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of private student loans and information on student loans and consolidation. For more information, please visit http://www.student-loans.net

How to Save Money in College

2008-06-06T11:19:00.000-07:00

Living with little money in college is no picnic. Almost all students go through college this way. When your paycheck or allowance barely covers your expenses, it can be a struggle to afford all of those extra things that you need in college. Saving money where you can will make a big difference in the long run. Little by little, you can save up a substantial amount.
Overspending is a big problem among college students. Most are experiencing freedom and independence for the first time in their lives. Avoid impulse items at the checkout and avoid the mall at all costs. Shopping thrift stores and trading up outfits with friends can save you a lot on clothing. Be a bargain shopper and go straight for clearance racks. Save those pricier items that you really want for your Christmas and birthday lists! Learning patience with yourself will be one lesson that will serve you for your whole life.
Making extra money can be very helpful as well. When you do not have too much studying to do, take over shifts for co-workers or ask for a little overtime. Do not hesitate to fill out applications at places that might pay you more or give you better experience for your major. Clothing can be sold at consignment shops, books can be resold to the campus book store and household items, as well as name brand clothing, can bring in more money than you might have realized on online auction sites.
Think about your skills and determine what types of services you might can offer on the side. Are you good at painting, lawn care, babysitting or housecleaning? You may be surprised what people are willing to pay for these services. People are generally happy to help out college students over professionals in these areas as well. You can even make flyers or signs to attract people’s attention. Some other ideas include washing cars, tutoring, cleaning gutters, cutting grass, typing term papers, or delivering groceries for those who do not have time.
Saving money on your frivolous purchases is job number one. If you depend on fast food calculate how much you are spending every month and figure out how much you can save by cutting it down to once a week. Calculating how much you save every month will serve as a great motivational tool.
Saving on transportation can make a huge difference with gas prices soaring through the roof. Start a carpool, take the bus, train or subway, or simply ride your bike to work and school. Find other ways to lower your bills. Compare cell phone services, cable, home phone and internet bundle services. Cut back on the energy that you use in your home. Do not leave the TV, radio, or phone chargers plugged in when you are not using them. They still drain power even if they are turned off.
Stick to a budget. This is the hardest part! Figure out how much money you make and overestimate what your bills will be. If you really are in over your head, you might consider student loans. Make your payments on time and build your personal credit.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

A Generation of Convenience-How Does this Affect College Students?

2008-06-06T11:14:00.001-07:00

Kids are growing up today with a world of modern conveniences at their fingertips. Instant gratification is of the norm. Everything is automated, from retrieving money from the bank, to having your bills automatically withdrawn on time. When you need gas, you just wave a tiny keychain device in front of the pump. We can remotely crank our cars, control the doors or open the trunk. No more going to the library for information, just type in a question online and a world of knowledge just pops up in front of you. Enormous record collections are all stored in a tiny device that you can drop in your purse. Our lives are jam packed with conveniences and luxuries that our parents never dreamed of. Food delivery, microwaves, convection ovens, we can have great meals in a snap, without gardening for the entire summer, canning vegetables and hunting for all of our meat.

Some would say that this generation is spoiled rotten. They have never had to work for anything. They have never had to develop patience. Anything they want, they can pretty much instantly get. Cell phones and remotes ensure that we are not inconvenienced in anyway when we need to make a call or change the channel. We can even fast forward through every commercial. The big question is, how has this automated world affected the psyche of college students? Will they be able to handle the pressures of the real world? Will they learn to be patient and responsible with their money? Will it be harder for them than it was for us?

College students have had their entire lives automated and geared for convenience. They now have easy access to student credit cards and online payday loans to help keep the convenience and instant gratification coming. As a parent of a college student, it is up to you to teach your child to be responsible with money and credit. This is not something that they learn in class, it is usually a trial by fire. More and more college students are learning the hard way how to manage their money.

Qualifying for loans and credit cards is incredibly easy now days. In fact, when they show up for college orientation, they will most likely encounter many kiosks offering t-shirts, book bags and other appealing free gifts to students who fill out a credit card application. Credit card companies have figured out that they can nab people early in life, take advantage of inexperienced money handlers like college students, and get a customer for life simply by offering a free magnet or insulated cup. Make sure that your student is prepared to reject these offers and find more responsible ways of building their credit.

If they need enough extra money to warrant carrying a credit card, then you might have them consider a student loan. Interest rates are low and the loan terms are geared to fit a student’s lifestyle. Many offer payback options that do not start until after graduation. Student loans are helpful when it comes to building credit. Payments begin after your student has learned a few life lessons and is not as likely to blow off payments for a new pair of shoes. Talk with your child and utilize the benefits of student loans.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

Creating Your College Budget

2008-06-06T10:45:00.000-07:00

Budgeting can be new territory for students. Managing money will be one of the biggest new responsibilities for most students. Many students have not had any guidance or education about managing their money. Most people end up learning the hard way and costing themselves a bundle in the process. It is up to you to educate yourself about budgeting and other money matters.
You may be surprised to find out that many college students do not even know what the word budget means. If you think about it, they have, for the most part, never had to worry about budgeting any kind of money because they have always lived at home. At worst, they might need to figure out how to make their gas money last another week.
Adults know how hard it can be to stick to a budget and you should realize that your son or daughter in college will struggle with this as well. It helps to remember that this may be the first time in their lives that they have to discipline themselves, something some adults struggle with.
When preparing your child for college, simply explain what budgeting is in terms that they can understand. Give them an example using a monthly income and a list of bills. Figure out together how much is needed for gas, food, electricity, phone and school. Whatever is left over needs to be divided into savings, emergency money, and fun money. It helps to figure out the monthly budget and then divide the total amount of accessible money into a weekly allowance for yourself. It may help if you open more than one account to keep money separated. A simple way to explain budgeting is to say that it is a plan that lists all of your money coming in and money going out.
Create a template spreadsheet that your child can use to track unexpected expenses month to month. They should note any extra expenses that pop up during each month. Things like oil changes, auto repairs, medical expenses, buying clothes and other unexpected expenses can be planned for to a degree. Keeping track monthly will help them look back and determine if their emergency funds are enough.
Keeping up with the budget will be challenging and you should not expect them to be really consistent. Expect setbacks and be supportive of the efforts that are made. Offer remedies for mistakes, such as taking out cash on payday instead of using a debit card or checks is a very effective way to stick to a budget. When the money is gone, you know that you are not allowed any more. Encourage your child to leave their debit card at home so that they are not tempted to spend any money from their bill or emergency funds. If there really is not enough money to get them through, then you may consider student loans to bridge the gap.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

How to Financially Get Through College

2008-06-06T10:37:00.000-07:00

When you go to college, you have your future on your mind. Choosing a major, meeting new friends and enjoying your new-found independence can make college a very exciting time. Books, car payments, tuition, life necessities, travel and lab fees can also make college a very expensive part of your life. Many students need a little help along the way. In fact, the majority of students are now taking out student loans to get them through these expensive years.

When you start shopping around for student loans, there are a few things you should know. In the past, loans have been very hard to obtain. Students could just about never qualify due to the fact that almost every lender required a high-paying steady job. Very few college students have the time or the experience to get a qualifying job. Today, the rules are a lot more lenient. Lenders recognize that students may not have money now, but they are in college working on starting a career. Since college educated employees should make considerably more money than their non-educated peers, the potential for college students to pay back loans is much higher than other people without that high-paying steady job.

Be smart about the amount that you take out. Keep in mind that lenders may be counting on your lack of experience with dealing with money. They may have hefty penalties for late payments. They may try to sneak in some yearly or monthly fees on top of your annual percentage rate (APR). Make sure that you read the fine print and compare many loans before accepting one. Check payment schedules and pay attention to dates. Many companies have a 28-30 day billing cycle, making your monthly payment due just a little earlier each month. Over time, you may find your payment due at the beginning of the month instead of the end. Little traps like this are legal and it is up to you to pay attention to the terms of the loan.

Make every payment on-time and pay more than the minimum if at all possible. When you are in college, you are just starting out on your personal credit journey. When your credit is fresh, one late payment can be a major blemish on your record. This can bar you from future car loans or mortgage loans. Use student loans, which generally have better terms and payback options than conventional loans, to build your credit and show your responsibility on your credit.

About the Author: Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of student loans and information on how to get private student loans as well as consolidation. For more information, please visit http://www.student-loans.net.

How to Manage Bills in College

2008-06-06T10:30:00.000-07:00

Students generally find it very challenging when learning to pay their own bills. It is just new territory and setting limits on yourself is not always the easiest thing to do. Until college, your parents probably took care of all of the financial responsibilities of the family. Learning to teach yourself how to budget and make responsible on-time payments is easier said than done.

College is about more than getting your degree. It is literally about learning to live a responsible adult life. Getting your degree is only the first step in setting yourself up for a financially secure future. Paying your bills on-time may sound like a small part of college, but really it can have a long-lasting affect on your life.

Many students blow off a bill to take a weekend trip with their friends, go shopping, or in some cases, buy groceries! The truth is, many people only become educated about the ramifications of missing payments by actually missing them. This can take a very long time to recover from and it really is not worth learning the lesson the hard way.

Unfortunately, many people are under the false impression that a penalty fee is the only repercussion to paying a bill late. This may even seem true for a little while, until it is too late. You go to buy that first car or home and you simply get denied. This is because utility bills, rent, credit card bills and student loan payments all flag your credit when you miss a payment. After a couple of flags, you suddenly are labeled as a person who overextends themselves financially and then does not manage their time or money well. Once you are seen this way, it can take years of on-time payments to prove otherwise.

Even one late payment can blemish your record. This means that if you do qualify to buy that house or car, you will end up paying a lot more than your peers. This is because banks and loan institutions will require a lot more money down to cover the loan. They will also charge you a much higher interest rate than people that pay their debts on-time. Many mortgage companies require that all bills be paid on-time for at least one solid year before they will approve a loan at any interest rate.

The bottom line is that you really have to take every single bill seriously. Keep your credit as clean as possible so that you can eventually qualify to buy a house or car at low enough rates to afford it. Make sacrifices to pay your bills on-time. Have your paychecks direct deposited if possible and have your bills automatically withdrawn the day after your paycheck clears. Open a second bank account that is specifically for money other than your bill money so that you do not accidentally dip into your bill funds before you get the chance to pay them. Take every precaution necessary to keep your credit card payments, student loans, and utility bills paid in full and on-time.

Do I Need a Stafford Loan?

2008-06-06T10:22:00.000-07:00

College can cost more than most parents prepare for. The cost of college has been steadily on the rise for many years. Most experts agree that college costs will continue to increase unless something drastic happens. Historically, college expenses and tuition has risen about seven percent a year and it is expected to continue to do so. This has many people turning to student loans for help. One type of loan, which we will discuss here, is called a Stafford Loan.

Stafford Loans are student loans configured in a way that allows you to defer your payments until after you graduate. There are multiple payment plans to choose from and the interest rates are considerably lower than other types of loans.

When trying to qualify for a Stafford Loan, your income will be considered. In addition, the number of people in your family, other children enrolled in college, your assets and your retirement accounts will also be taken into consideration. All of these things will be put into a formula which will estimate the amount that your family will be able to financially contribute to college. Once that amount is determined, the Stafford Loan amount will be calculated based on the outcome.

To start the process, you need to fill out a Free Application for Federal Student Aid (FAFSA) form. You can get a hard copy from your school or fill this application out online. The FAFSA application can be filled out by either the parents or the student. You will need to fill it out every year that you would like to receive financial aid. The FAFSA application will determine how much financial aid you are qualified to receive from the government and from the school that you will be attending.

After the form is examined, you will receive a Student Aid Report (SAR) in the mail. The SAR will explain your eligibility based on all of the information that you provided. If you find no mistakes on the SAR, then all of the information will be sent to the school or schools that you selected on the FAFSA application. This form is called the ISIR. The ISIR is not only sent to the schools of your choice, but also to the state government organization responsible for determining any financial aid amounts that you may qualify for from your state.

Next, you will receive financial aid award letters from the schools detailing financial aid amounts that you are eligible for and how you can go about collecting the money. You must fill out the acceptance portion of the award letter and return it to the school that you wish to attend.

You do not necessarily need to be a low-income family to receive a Stafford Loan. Many other expenses are taken into consideration. It is generally accepted that the Stafford Loan is the first loan that you should apply for before exploring the options of other parent or student loans. Discover more about Stafford Loans, other student loans, private student loans and parent loans at www.student-loans.net.