Education Loan Assistance

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Education Loan Debt Help​

An education loan is simply a form of loan designed specifically to help students cover the costs associated with post-secondary education, including tuition, college books, and supplies, and other living expenses not covered by a grant or scholarship. The U.S. Department of Education, through the Direct Loan and Federal Family Education Loan Programs, provides most student loans. In return, the federal government pays interest on behalf of the student throughout the duration of the loan grace period. When the student graduates from college and is no longer eligible for federal student loan assistance, he or she may be able to obtain a private student loan. Private student loans typically carry more interest than federal student loans, but they do offer a lower interest rate.

Getting Federal Loan Forgiveness

One way to get federal student loan forgiveness is to work and serve and serve as military personnel. Although the majority of federal student loans are made directly by the government, some loans are made through private, for-profit companies. The federal government offers student loan forgiveness to active military service members and their immediate family, but there are certain qualifications that must be met in order to apply.

Get a Reputable Lender
As with any loan, you want to be sure that you are working with a reputable lender that will loan you the money that you need and afford. For many borrowers, the best place to start their search for a reliable lender is online. If you do not have Internet access at your current workplace, you may be interested in speaking with a previous or current student loan borrower who can help you with your application. You may also find this same individual on an online forum or website that specializes in student loan issues. Whatever method you choose to pursue, make sure that you do everything possible to keep your finances healthy and avoid defaulting on your loan repayments.​

 

[Alexandoy]

My brother's youngest daughter in the US has temporarily stopped her master's degree studies because she doesn't want to avail of an educational loan. She is working for a time now to save money for her schooling expenses. She said that it is not easy to avail of an educational loan and it would take a long time for the repayment.

 

[Kingsley]

To be candid it is not easy to student as a student with getting enough funding to support yourself as there is always new things to buy and do in school, some of these things are very connected to one's academic work and while others may be more connected to one's social life, and as a student one must always look out for ways to blend the social life and the academic life, this is what will make Jack not to be a dull boy on campus. In considering all these there is one thing that can make all these things to become a reality, And that thing is money. So money indeed is very essential in the life of a student but unfortunately not every student has that luxury or opportunity to have enough money to cater for all their needs. Hence they need to depend on loans to meet upwith their academic obligations whichI do not consider a bad thing, mostly if it is guaranteed that the student will be able to get a good paying job after graduation. And then payback those loans. But if it is otherwise I will not consider it a wise move, it will be better to work first and gather money for education.

 

[Kendy]

Education loan assistance to me is a good way of helping many students not to become dropouts. There are some tertiary institutions in my country and most especially the state institutions, whereby they offer loans to students with no interest rate attached, although it includes lot of paperwork but it is not a problem so long as the money would be accessed. There are so many students who have become dropouts due to financial limitation. I have been a beneficiary of education loan and this was my last resort because I had thought to defer my admission until when I have enough money but I saw the opportunity and wasted no time in grabbing it. The most interesting and encouraging thing is that there is no interest rate attached, although there is a collateral, which you must issue or tender an important certificate of yours,just incase you still decide to abscond with the money. If at the end of the programme, you are still unable to repay the debt, then your certificate or statement of result would be withheld by the school until you repay the complete funds. This method should be harnessed because it would save students the stress and also help them focus on their studies.