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Student Loan Repayment Program Options

August 30, 2011

Student Loan Repayment Program Options

If you are looking for a great student loan repayment program, then you are in the right place as this aricle will list off many of the different repayment programs you can use to pay off your student loans. These programs will cater to whatever you can afford as well as range in different lengths of time in which you can repay your loans, which will be listed below. If by chance you can to this Student Loan Repayment Program page and were looking for student loan forgiveness programs, which are often times confused with repayment, click on the blue link that says “student loan forgiveness”.

Student Loan Repayment

 

Student Loan Repayment Program - 5 Different Options

  1. Level/Standard Student Loan Repayment Program – This option is the most used out of all of them, where you pay a monthly payment which starts as low as 50 dollars and it stays that way until your loans are fully paid off. These plans are usually set at a 10 year repayment period.
  2. Extened Student Loan Repayment Program – This plan is for those who are in a pinch financially and are looking for lower payments. Lower payments are available through this student loan repayment progam option because the length of repayment is extended from the regular 10 years to ranging from 12 years to up to 30 years with payments as low as 5 dollars.
  3. Graduated Student Loan Repayment Program – This option allows one to start off with lower payments in the beginning of loan repayment but increases every two years thereafter. This plan is set as a way for students to get their first job where pay will be a little lower, and as the get raises and better income opportunities, the payments will go up. These plans are generally set as well for 12 to 30 years.
  4. Income Contigent Student Loan Repayment Program - This option is has many similarities as the Graduate repayment progam being that it increases after a certain timeframe. This option allows one to start out by paying as low as 5 dollars if that is all your income permits and is fully based off 15 percent of your income. The great perk with this student loan repayment progam is that if your loans total above 50,000 dollars, you can pay your loan payments for 25 years, then after 25 years is up, whatever is left on your loan will be eliminated.
  5. Student Loan Forgiveness – This student loan repayment program method can provide you with student loan relief in the form of either a percentage off every year you work, or lump payments you can use towards your loan each year of service and can be utilized by working public service jobs, jobs where the area is low income or volunteer work.

Student Loan Repayment Program – Conclusion

Some loans are limited to the different student loan repayment program methods above as well as forgiveness programs. To learn about what is available to your particular situation, you should inquire about it through your student loan lender who can give you more information. Another way that you can check out is consolidation which can offer an extended student loan repayment program as well as grouping all of your loans into one lump loan payment.

Great Lakes Student Loan – Overview & Loan Options

August 30, 2011

Great Lakes Student Loan

Since you are either looking for more information on the Great Lakes Student Loan options or you have come to this page because you have no idea who they are, we will give you information so that you can familiarize yourself with who they are and just what they have to offer. Great Lakes Student Loan options are offered through a organization called Great Lakes Higher Education and are essentially the middle man between lenders and schools meaning that they don’t provide the money for loans connect the lenders they are affliated with with borrows who come to them. Great Laks Student Loan optiosn are both federal and private loans, giving you a one stop shop to finding the loans you need for college.

Great Lakes Student Loan

Great Lakes Student Loan – Loans Offered

There 2 categories of  federal Great Lakes Student Loan options that you can choose from, federal which are in the form of direct loans and private loans. It is highly suggested that you take advantage of these first as they provide the lowest interest. The options are offered though the Federal Family Education Loan Program (FFELP) and offers these different loans:

  1. Stafford Loans – This Great Lakes Student Loan option allows you to get either subsidized loans which are based of financial need, or needs based, and unsubsidized loans. The Subsidized loans provide the benefit of your interest being paid while you are in school and never have to pay it back, and the unsubsidized loans require that you either pay the interest while you are enrolled or pay it on top of your loan after schooling is finished. These loans have fixed interest rates which are found as low as 4 percent.
  2. PLUS Loans – These Great Lake Student Loans are for both parents who are looking to take out loans for dependant students or for graudate students through their Graduate PLUS loan option. This Great Lake Student Loan option also has fixed interest rates but are found to be a little higher than Stafford Loans.
  3. Private Great Lake Student Loan - As far as the private loans go, Great Lakes is affilited with many different lenders whom you can use if the federal loans do not offer you enough funding.

Great Lakes Student Loan – Other Services Offered

Now that you know what there is to offer as far the Great Lakes Student Loan options go, they also are an excellent resource when it comes to:

  • Consolidating student loans
  • Postponing you student loan monthly payments
  • Lowering your monthly dues
  • Making changes to your repapyment plan

Great Lakes Student Loan – Conclusion

Knowing this, you can basically deal with just one organization, being Great Lakes, for anything related to your school loans, obtaining, paying and consolidating and lastly are there to help you budget when it comes to repaying your student loans. So having a Great Lakes Student Loan or multiple loans can provide a much better experience because you are dealing with a servicer as Great Lakes is, who is there to help with multiple facets of your student loan, not just there to collect at payment time.

Student Loan Repayment – Options You Can Use

August 30, 2011

Student Loan Repayment

There are many student loan repayment can be options that you can consider that can cater best to your situation. Whether you are looking to pay your loan off faster, or slower or anywhere in between there can be a method that suits you best when payment times comes, which is usually 6 to 9 months after the conclusion of your schooling. To get your familiar with student loan repayment, the different options will be listed below and if you happen to be looking to be looking for ways to pay it off faster, we’ve got you covered there too as there will be 4 different ways in which you can use to pay your loan off faster than ever.

Student Loan Repayment

Student Loan Repayment – Repayment Options

Here are 6 of the most used student loan repayment problems that people are using today.

  1. Standard Student Loan Repayment – The repyament time for this option is what all the loans are set at through the lender you went through to get your loan when you first signed your contract. This plan is usually on the short end, probably 10 years and is good if you want to pay you loan off quick, but it will yeild the highest payment plan. It is good to know that this repayment plan can be switched in the beginning, usually the first 1-6 months of loan payments. Monthly payments can be as low as 50 dollars.
  2. Extended Student Loan Repayment – These can be either negotiated with your lender or done through a consolidator. When you extend you student loan repayment period, you are taking your repayemnt timeframe and making it from usually what is 10 years with most programs to 12 to 30 years as well as at least 50 dollars is demanded for monthly payments.
  3. Graduated Student Loan Repayment Plan – This plan is one where your loan payment starts out low and increases after a certain amount of time, usually being every two years it will increase. This is a great way to pay low payments when you get your first job, and be able to establish yourself and pay more later when you are earning more. This student loan repayement option usually offers payment plans that range from 12 to 30 years as well.
  4. Income Sensitive Student Loan Repayment – This option is fully based off what you earn. You monthly payments will be adjusted to a rate at which you can afford.
  5. Income Contigent Student Loan Repayment – This is similiart to the Income Sensitive repayment plan, but this one will have monthly payment increases as your income increases.T hese payments have been as low as 5 dollars per month for some people and is based off 15 percent of your income. For loans above 50,000 dollars, after you pay 25 years of payments at 15 percent of your income, the rest of your loan will be forgiven. This student loan repayment option is the best for those who went into law school, schooling for doctors and any other schooling where loans were very high.
  6. Student Loan Forgiveness – These programs are where you work a public service job, community service or a job in a low income area or similiar, and these programs either offer you a large chuck of money for each year of service, also they can pay a percentage of your loan each year of service, or you work a low income job and make 120 straight on time payments, and after the conclusion of the 120 payments, whatever is left your loan is wiped clean.

These are methods of student loan repayement where you are paying your loan bills, other ways in which do not involve paying are forbearance, student loan default, economic hardship, student loan bankruptcy among others.

Student Loan Repayment – What To Do Now

Now that you know the differet options when it comes to student loan repayment, and you want to use one of these repayemnt methods, the first thing you should do now is to make a budget or your expenses which will give you a better idea of what student loan repayment plan would best fit your situation. After you do this, inquire through your lender or lenders about changing your student loan repayment method.

 

 

Direct Student Loan – Overview & Loan Options

August 30, 2011

Direct Student Loan

A direct student loan is a great resource to use when your other financial aid options like scholarships and grants are not providing you with enough money to complete your education. There are many benefits to taking our a direct student loan, which if you are not familiar with the term, direct student loans are federal loans that provide you with loans that are lower interest than private loans and can either be taken out by the student, or by the parent of a student.

To get you more familiar with the different direct student loan options, the next section will provide you with information on each one of them as well as the pros and cons to taking out a direct student loan so that you can make the descision if they are a good choice or not.

Student Loan Repayment

Direct Student Loan – Loans Offered

Below will be all the options you can choose from when it comes to direct student loans:

  1. Stafford Direct Student Loan – A direct student loan with Stafford can be found in two categories, subsidized which is a needs based loan,as well as unsubsidized which is not needs based, so it is easier to qualify for. The subsidized has an interest rate around 4.5 percent interest and the government pays your interest while in school, and the unsubsidized has an interest rate around 6.8 percent and interest starts from day one which you can pay while in schol or when you get out.  It is provided for under grads ad grad students alike and have low fixed interest rates meaning they will never change once your establish your loan program. For both options, there is a 6 month grace period, meaning that afer your graduate, you don’t have to pay monthly dues until after 6 months.
  2. Perkins Direct Student Loan – These loans are also offered to undergraduate and graduate students and all of your finances are dealt with by your schools office. Interest rates will these direct student loans are offered at slightly higher interest rate than Stafford loans. Perkins loans are dedicated to those who need it the most, like the subsidized Stafford loan, so you must prove that you are either low income, unemployed or similiar to prove that you are qualified. A Perkins direct student loan is given at 4000 a year for undergraduate students and 8000 a year for postgraduate students.
  3. Direct PLUS Loans – This direct student loan options has two that you can choose from: The Parent PLUS Loan and the Direct Graduate PLUS Loan. The Parent PLUS is for parents to take out a loan for their children and the Graduate PLUS is for graduate students shooting for a higher degree, which is not attainable by parents, only directly to the applicant. Both options allow you a 6 month grace period and have a fixed interest rate that starts at 7.8 percent. This option allows you to borrow up to the cost of your education minus any other funding you are receiving from other sources.

It should be known that not all schools accept direct student loans so it is best to inquire through your school to see if they do or not. Being that these are all federal loans, in order to qualify for any of them, you must fill out a Free Application for Federal Student Aid (FAFSA) which can be completed online or at the school that you attend.

Direct Student Loan – Pros & Cons

Now that you know all the loan options, here are a list of pros and cons so you know what you are dealing with by taking out a direct student loan.

PROS

  1. Fixed interest rate.
  2. You do not have to provide a good credit score to get a loan.
  3. 6 month grace periods

CONS

  1. With the Perkins and Stafford, you are very limited to what you can borrow.
  2. You need to apply each year for federal direct student loans.

ACS Student Loan – Overview & Loans Offered

August 30, 2011

ACS Student Loan

An ACS Student Loan can provide you with the means needed to attend college and better yet complete college without having to beg, borrow and steal, which will in turn provide a more stress free college existance that will enable you to foucus more on the classes you are in, instead of making money to afford the classes you are in.

If you are not familiar with ACS which stands for Affiliated Computer Services who is a Fortune 500 company who also specializes in providing excllent options an benefits when it comes to student loans, as they are a student loan servicer which means loans aren’t lended directly from them, they collect your loan payment and provide the money to the lender that they are affiliate with. They offer many loans that have great benefits for their eligible applicants, which the next section will go into major detail so can get to know the ACS Student Loan options much better.

ACS Student Loan

ACS Student Loan – Loans Offered

Being that ACS specializes in technology as well, many universities choose them over other companies because they offer technical services that make a lot of loan services easier for schools to process. Anyone can obtain an ACS student loan because they are not credit based, meaning your acceptance has nothing to do with your credit score, for the federal loans. ACS Student Loan offers both federal and private loans some of which include the following:

  • Campus Based Student Loan Program (CBSLP) – This category currently provides ACS student loan options like the Federal Perkins Loan as well as Nusing Student Loans (NSL).
  • PLUS Loans – This options provides loans for parents who choose to take out a loan for their dependent children, and provied a variety of different loan options that deal with both under graduate, graduate as well as professional students.
  • Federal Family Education Loan Program (FFELP) – This category of ACS Student Loans is where you will find Federal Stafford Loans.
  • Private Loans – There are currently multiple different private loans that ACS offers that can help you in the event the the federal loans do not quite cover what you need in the form of financial aid.

Just like many other lenders, you will have to fill out a Free Application for Federal Student Aid (FAFSA) in order to qualify for their federal loan options, where as for a private ACS student loan you do not have to.

ACS Student Loan – Further Infromation

  1. ACS student loans offer forbearance to their eligible applicants for those who are having trouble making their monthly bill payments.
  2. You can make all of your payments online as well as view the status of your account or anything else that pertains to your ACS student loan, giving you the freedom of managing your finances instead of having to go call or go to a location in order to do so.
  3. ACS also provides consolidation services which you can use in the future as a way to lower your monthly payments as well as the interest you pay on your loan.

ACS Student Loan – Conclusion

As you can now tell the ACS Student Loan options offer a wide variety of choices when it comes to getting money for college. They no doubt should be a resouce for you to use when looking for the right loan as they specialize in both federal and private options, not limiting you to one or the other. By utilizing an ACS student loan, you can get the money you need for college as well as have a provider that can help you with different services when your college has concluded.

 

Student Loan Deferment – Different Types of Deferment

August 28, 2011

Student Loan Deferment

Student loan deferment is essentially suspending or postponing your monthly payments on your student loans and in some cases, you are not even charged interest during this time period. You may have heard of it when you first applied for your loan with your lender, which lenders often boast the benefit of student loan deferment while in school meaning you don’t have to pay monthly payments until your are done with school and/or after the grace period, which is one of many ways to defer student loans. Student loan deferment can’t be used by just anyone though, there are certain specifications that you must meet in order to qualify. The next section will tell you all about the different types of student loan deferment so you can know what it takes to defer you loan payments.

Student Loan Deferment

Student Loan Deferment – Different Types

  1. Education Deferment – As spoken of above, this option requires that your school certifies the fact that you are at least enrolled in a half time school schedule, and is only applicable if you stay in a half time or more schedule.
  2. Deferment in Public Service Jobs – Certain public service jobs can also bring you student loan deferment. Deferment programs are offered in public service jobs like Americorps and Peace Corps, Army or Navy, some volunteer jobs and public service jobs in the health related profession among others.
  3. Disability – Student loan deferment can be used when one is disabled and can prove so. You must be unable to go to work because of the injury or disablity for at the least 60 days, and the disability must have happened after you got the student loan. Other types are mothers who are experiencing complications in their labor, have a loved one who requires your help or care for over 90 days which requires you to postpone the work at your job, in a rehab program,  among others. To quaify for this type of student loan deferment it is necessary to prove the above disability types by verification.
  4. Family – Mothers who are either going back to work or a left work on a parental leave situation are also able to get their student loans deferred. This can also be used by those who are caring for children who were just born or are pregnant, as well as just adopted a child.
  5. Economic Hardship – You can qualify for student loand deferment by proving things like: you are receiving public assistance aid, have loan payments that equal at least 20 percent of your income, working at least 30 hours each week and earning minimum wage, giving your service to the Peace Corps or intending on doing so in the near future.
  6. Unemployment – You can receive student loan deferment in this category if you show that you are either are actively looking for full time work, if you are a resistered client at a local unemployment agency which must be at the most 50 miles away from you, be looking for full time work during a 6 month period of your student loan deferment time.

Student Loan Deferment Conclusion

Student loan deferment is a viable option to consider if you are going through a ruff time as it can provide stress relief when it comes to not having to make your payments for a while. As you can now tell there are many different types of student loan deferment that you can use and should be used immediately if you qualify. For more information about student loan dererment the best thing to do now would be to contact your lender and explain to them your current situation.

Student Loan Bankruptcy – Overview & Ways To Avoid It

August 28, 2011

Student Loan Bankruptcy

Although it isn’t suggested that you take the student loan bankruptcy route, sometimes it is the last option for to take. But ever since 1998 when there was a huge change made the the Bankruptch Law, it has been a lot harder for people to file for student loan bankruptcy, meaning that even if you file for it, you still might actually have to pay back your debt in full. The change was to ensure that you were actually in a position of financial need and not just because you didn’t want to pay your loans. To be able to qualify for student loan bankruptcy, you must meet 3 different hardship rules, which are discussed below.

student loan bankruptcy

Student Loan Bankruptcy – Hardship Rules One Must Meet

One must meet all of the following three rules:

  1. If in the event that you were forced to pay your student loan debt, you would not be able to meet the minimal standard of living.
  2. You must also show that the financial problems that you are going through are going to be the same for a long period of time.
  3. You must have been in good standard with your lender or lenders paying your loans on time for at least 5 years. This is where they want to prove that you gave your best effort to pay off your loans.

If you meet the following requirements, then you will qualify for student loan bankruptcy and whatever amount of debt you have left will be wiped away and then you will have a clean slate once again. The drawback of being qualifying for bankruptcy is that if you ever need to take out a student loan again, chances are lenders will not give you a loan.

Student Loan Bankruptcy – How To Avoid It

Like it was said above, try your hardest to avoid student loan bankruptcy at all costs because it will stay on your credit record forever. In order to avoid this burden, there are ways around bankruptcy that you can apply to your student loan debt situation starting today. Here aer 3 ways in which you can avoid student loan bankruptcy:

STUDENT LOAN DEFERRMENT

  1. Student loan deferrment is an excellent method to use to avoid student loan bankruptcy. This process basically allows you to stop paying your loans for a certain amount of time without consequences. Defferment can be attained by proviing that you are either unemployed, on disablity or disabled, or you are serving in the military.
  2. If you cannot afford the payment total that you are paying on currently, another option to utilize is student loan consolidation. This service will group together all of your loans where you only have to pay one payment, and that payment will be a lot lower because they extend the length of time in which you are rquired to pay, usually around 3o years.
  3. Student loan forgiveness programs are another excellent way you can use to avoid student loan bankruptcy. This method encompasses you working jobs in either community service, public service and jobs in areas of low income. These programs will either provide you with a lump sum to use to pay debts off, will pay off a percentage of your loan for you each year of service, or require that you work the job for 1o years and make 120 on time payments, which after the 120 payments, the rest of your debt will be forgiven.
  4. One last option to avoid student loan bankruptcy is by talking to your loan lender and explaining to them what you are going through. Often times this simple communication can mean them working out a payment plan that better caters to what you can afford.

 

All About Federal Student Loan Forgiveness

August 28, 2011

Federal Student Loan Forgiveness

The first question that graduates ask themselves is “how the heck am i going to pay my debt off?! Well federal student loan forgiveness can be an excellent method to utilized when trying to pay federal student loans off faster, helping you pay either a big chuck of your loan off or erase the entire thing, in other words a clean slate. If you currently have a student loan and are looking for more information on student loan forgiveness, the information that follows will explain all there is to know about federal student loan forgivesness so you know what it can do for you and how to use it to you benefit.

federal student loan forgiveness

Federal Student Loan Forgiveness – Forgiveness Methods

Federal student loan forgiveness can keep you from being one of the fast growing number of students who file student loan bankruptcy which you want to avoid at ALL costs because student loan stay on your credit record forever! These forgiveness programs can be used if you used Perkins, Stafford, PLUS or FEEL loans. Anyways, there are many programs that you can use that offer you federal student loan forgiveness, to give you an idea of what is out there for you to use, here are the various ways which you can recieve some help from for you loans:

Community Service:

You can find federal student loan forgiveness programs through these three organizations: Peace Corps, Americorps as well as VISTA. These organizations will offer you either a lump sum after working a certain amount of time which is usually a year of service and around 7000, or you can provided community service through them for multiple years and each year they will pay for a percentage of your debt, usually around 15% of each years service.

Teachers:

If you are a teacher, you can get your federal student loans forgiven by working in certain ares of your community, these being either low income areas as well as areas where quality teaching is needed the most. WIth this option, you usually will have to enroll in a 10 year payment plan where you pay on time payments each month for 120 months, and at the end of the term you will be awarded by having the rest of your debt wiped away, no matter how much is left.

Medical (Doctors, Nurses)

If you are looking to enter into the medical profession, you can get your debt forgiven substantially or fully if you work you provide your services in low income areas as well. The Perkins Loan offers up to 60 percent cancellation for nurses, with the Stafford, you can get up full cancellation after working a certain amount of time in the profession.

Social Work & Lawyers

The social worker profession provides you with the chance to get federal student loan forgiveness as well in the form of total cancellation of your debt after what is usually 5 years of service. If you have just completed law school, you can get your debt forgiven completely after working a public interest job for 10 years.

Child Care – Providers of childcare can also qualify for federal student loan forgiveness, for example with the FEEL program offers you the chance to get all of your debt forgiven after providing childcare for a certain amount of time.

Military:

If you happen to be in the military or are looking to enter into the military, federal student loan forgiveness can be found in different ares of service.

Federal Student Loan Forgiveness – Conclusion

If you like the benefits of federal student loan forgiveness and apply it to your debt, the best thing to do now is to contact your loan provider and ask them what is offered for your particular situation. They will either provide you with the information you need, or will refer you to someone who will be able to help you get started. If you happen to not like the idea of federal student loan forgiveness but are still looking for ways in which you can manage your debt, you can either seek out a student loan consolidation company, talk to your lender about a possible modification of your repayment plan to where it would be more affordable for you to make your payments.

Student Loan Interest Deduction Major Overview

August 28, 2011

Student Loan Interest Deduction

If you have came to this page looking for information on student loan interest deduction, then you are in the right spot as we will provide you with all the details needed to make yourself familiar with the subject. To give you a feel for what we will be getting into, student loan interest deduction can equate to you being able to use the money you paid on interest as a tax deduction, meaning that it can save you hundreds or thousands. For all the major details on student loan interest deduction, read on the next sections will go into deep detail about it.

student loan interest deduction

Student Loan Interest Deduction – Major Overview

The Tax Relief Act states that you are able to deduct up to 2,500 dollars in the interest that you paid on your student loans each year, meaning that if you spent over that, then you are limited to getting 2,500 dollars back, which you can turn around and drop a large payment on your student loans, getting out of debt faster, and remember, you can do this every year.. A quick note to remember is to use either a 1040A or 1040 form for this, avoid using a 1040EZ tax form as this doesn’t allow student loan interest deduction. As a way for you to get the most information, the main details will be in bulet point form:

  • If you happen to be married and both you and your spouse have student loans, then you will need to fill out a joint form for both of you to qualify for student loan interest deduction.
  • You cannot qualify for student loan interest deduction if you make 70,000 + individually or  140,000 + as a couple.
  • The three categories which make you eligible for student loan interest deduction are that you are paying for your student loan, paying for your spouses loan or paying on a person whom was dependent on you when taking out the loan
  • You also must have been enrolled in school at least in a half time basis as well as graduated or completed the education you set out to get, like colleges or vocational studies.
  • The qualified expenditures aren’t limited to just tuition costs, others that are qualied are living expenses, your textbooks, school supplies as well as your transportation going to and from school. When it comes to deduction for these categories, you must prove to the IRS where and how you spent money on them.
  • Student loan interest deduction can only be used for student loans.

Student Loan Interest Deduction – Conclusion

Now that you know the basics to student loan interest deduction, you can now apply it to your student loan situation to get big money back that you can use towards living expenses or towards paying off your debt a lot quicker than normal. For more information, the best thing to do now would be to contact either your personal tax preparer, or find one in your loacal area as they will be able to get you going, and provide you with the most up to date information on student loan interest deduction.

Citiassist Student Loan – Information and Loan Details

August 27, 2011

Citiassist Student Loan

College isnt exactly cheap, we don’t have to tell you twice, but maybe a Citiassist student loan can help you. If you are looking for a more information on a Citiassist student loan because you are looking for money to go to college with, we’ve got your back as we will bring you all the detials you need to make your descision without having to browse all around the web. Below will be a main overview as well as some of the advantages and disadvantages of taking out a Citiassist student loan.

Citiassist Student Loan

Citiassist Student Loan – Overview

First off the Citiassist Student loan is offered through the bank called Citibank. They are considered a private lender being that they have no affiliation with any government programs, and are offered as a way to bridge the gap between the the money you need if your other loan programs fell short when it comes to the toal amount you need to complete college. We will first talk about some of the benefits or the Citiassist student loan, then after will be some of the negative aspects of taking out a loan through them.

CITI ASSIST STUDENT LOAN – Benefits

  1. Having a Citiassist student loan doesn’t require you to make monthly payments on your loan during the time that you are in school, and offer you the choice to either pay your interest payments or not during the time you are enrolled
  2. You get 0.25 percent off your loan total if you enroll in the Citibank auto debit payment program
  3. Often times the interest that you pay on your Citiassist student loan is considered to be tax decutable.
  4. You will have access to a personal online account where you can view the status of a pending application, and any other payment or loan history and details.
  5. They work together with the college you are attending to make sure you are getting just the right amount of money that you need to complete school and not more so you don’t have more money to pay off at the end of the process.
  6. They offer the opportunity to release the contract from your cosigners name and put it in your name which will enable you to build a good credit score.

CITIASSIST STUDENT LOAN – DISADVANTAGES

  1. The Citiassist student loan is what is called a tiered pricing loan where the fee as well as the margin over intersest rate is all determined by the credit score of your cosigner.
  2. Most undergraduate students need to have a cosigner to be able to qualify.
  3. The interest rates are subject to change, usually every 3 months.
  4. The fees for service are anywhere from 0% to 3% depending on your credit score or that of your cosigner.

Citiassist Student Loan – Is it worth it?

To be straight with you, I was a Citibank card holder for over 4 years and took out a loan for my first car through them. They provided excellent customer service, no matter who I was dealing with, or what I was inquiring about, customer service that you don’t often see at a large chains like they are. Due to this and the above benefits, all in all the Citiassist student loan is a a little above average, with some incentives that you don’t see on other programs, but require that you have a good cosigner to get the maximum benefits. If you are able to get this piece of the puzzle, then the Citiassist student loan can be a great way to bridge the gap between the money left you need to complete your college degree.