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Deferment of Student Loans – Different Methods of Deferment

September 3, 2011

Deferment Of Student Loans

Deferment of stuent loans can be used in many different ways, but just to give you a feel for what it means, deferment of student loans is when both the borrower and the lender both come to an agreement that the borrower is going to postpone their payments on their student loan debt for a certain amount of time. Deferment of student loans is also a way that one can stop paying student loan payments without being penalized as well as sued. As said before, a person can use student loan deferment for many reasons, those reasons are listed right below.

Deferment of Student Loans

Deferment of Student Loans Methods

  1. Educational Reasons – This method of student loan deferment is where most if not all loan lenders allow you to wait until school has concluded to begin making your payments, usually this applies to those who are enrolled in at least a half time schedule. This method also applies to the 6 month grace period in which most lenders offer where for 6 months after you either graduated or dropped out, you do not have to pay monthly payments.
  2. Disability – Deferment of Student Loans is also offered to those who are disabled. The guidlines to obtain student loan deferment is that the injury is going to take you out of work for at a 60 day time period. There are other types of disability deferment of student loans like; complications during the birth process, taking care of a loved one which will take you away from work for at least 90 days as well as if you are attending rehab or something similiar to the above options.
  3. Unemployment – With this method of deferment, you must prove that you are unemployed as well as it requires that you have been actively searching for work. Other requirements for this deferment of student loans option is that you must be working with an unemployment agency as well as searching for work for the entire time of the deferment period which is usually around a 6 month timeframe.
  4. Economic Hardship – Deferment of student loans can also be applicable for those who are truly in a financial pinch. The requirement to be accepted to this type of deferment is that you are either working at least 30 hours at minimum wage rate, receiving public assistance, are making payments on a loan in which your monthly payment is 20 percent of your income or greater, as well as offering community service or intend to do so soon.
  5. National Service – Deferment of Student Loans through offering national service like through the military is also a great way to receive deferment. This option is great for those who are looking to go serve their country as well as be able to get most or their entire debt wiped away.
  6. Family Matters – This option is available for mothers who are have just given birth and need to attend to their children, parents who are either just going back to work or just leaving work to attend to newborns, pregnancy as well as attending to a newly adopted child.

Deferment of Student Loans Conclusion

These different deferment of student loans methods are some of the most used ways when it comes to stalling your payments for a while. If you need the deferement of student loans that you have, the best thing to do now would be to contact your lenders and set up a meeting with them where you will need to verify one of the above options. If the student loan deferment methods above didn’t touch on something else that you think it may grant you deferment, the best thing to do again would be to inquire about it through your lender.


Dept Of Education Student Loans – Loans Offered

September 2, 2011

Dept Of Education Student Loans

The Dept of Education student loans are offered to students as a way to make the insanely pricey option of college a lot more affordable. The Department Of Education has three different categories that one can choose from when it comes to student loans which are: Direct Loans, Stafford Loans as well as PLUS Loans which consist of both loans that parents can take out their children as well as their Graduate PLUS loans that are at the graduate and professional level. Dept Of Education student loans can be applied by anyone at no cost through the FAFSA application form which stands for Free Aplication for Federal Student Aid.

Dept Of Education Student Loans


Dept Of Education Student Loans – Loans Overview


  1. Subsidized – These Dept of Education student loans are rewarded to the most financially needy. To qualify for this option you must prove different specifications such as low income or unemployed etc. This one is interest free while in school as well as during its 6 month grace period. Interest rates are often as low as 3 percent which is a fixed interest rate meaning that it will never change.
  2. Unsubsidized – These loans are the opposite of subsidized as they are offered to anyone regardless of their financial need. This one is much easier to qualify for but makes one pay interest while in school, but not during the 6 month repayment period. Interest payments are usually a bit higher with unsubsidized Dept of Education student loans but are fixed like subsidized.
  3. Direct PLUS Loans - Like it was said before, these Dept of Education student loans are for parents who are taking out loans for their dependable child, as well as for those who are going into grad school or professional students as the borrowing limits are much higher. These loans both have low fixed interest rates and provide benefits like deferrment options, you don’t have to have a cosigner to qualify and you monthly payments are considered tax deductable.
  4. Direct Consolidation – This last option allows you to combine all of your federal student loans into one lump payment instead of paying on multiple different payments each month. By doing this you can get a lower montly payment as well as lower interest payments.


  1. Stafford loans are offered to both undergraduate and graduate students and is the most used loan program around for federal loans. These as well come with low interest payments and can be used for anything related to school like tuition, books, transportation and more. These Dept Of Education student loans offer a fixed interest rate as low as 3.4 percent, and up to 20,5000 dollars per year in borrowing funds depending on where you are at in you schooling.

Dept Of Education Student Loans – What Should You Do Now?

This is what there is to offer as far as the Dept Of Education student loans go, but it is highly suggested that you exaust your free financial aid resources first, like scholarships and grants which can be inquired about through the college you are going to attend as well as on the internet. After you have exausted your resources when it comes to free financial aid, then it is suggested that you start looking into the Dept of Education student loans and private loans.



Student Loans Consolidation – 5 Comanies & Pros and Cons

September 1, 2011

Student Loans Consolidation

Student Loans Consolidation

If you have been contemplating student loans consolidation, there are many companies out there that are offering consolidation services that you can use. If you are unfamiliar with what student loans consolidation is, it is grouping all of the loans you have into one single monthly payment, which is accomplished by you consolidation company essentially purchasing your loans from your lenders so now you just pay the consolidator, although one student loan can be consolidated as well and still enjoy the benefits that come with consolidation.

These programs offer a lower monthly payment as well as a fixed interest rate by repayment period of your loan. Below will be 5 different resources you can use tha offer student loans consolidation as well as information on each as well as the pros and cons that come with consolidating student loans.

5 Student Loans Conslidation Companies

  1. Next Student - This company offers private student loans consolidation as well as federal loans. With this option you can receive a payment term of over 30 years, they have low introductory rates, no repayment penalties as well a there is not collateral required for service.
  2. – WIth this student loans consolidation company, they offer no fees for their service, a mximum rate of interest being at 8.25 which is often way lower, fixed interest rates as well as if you choose to pay more, you will not be penalized. They also offer 4 different repayment plans that offer different scales of pay that suit your income best. They as well offer private and federal student loan consolidation services.
  3. US Department Of Education – This option focuses on just federal loan consolidation, and offers up to 30 years to repay your student debt.
  4. Loan Approval Direct – Student loans consolidation through Loan Approval Direct offer many benefits like consolidation of up to 125,000 dollars of debt, interest rates at as low as 3 percent, and collateral is not a requirement.
  5. Debt – This is another great resource for student loans consolidation and their online application process is very simple. With this option you will know how much you will save within minutes after applying.

As you may be able to tell, the abvoe student loans consolidation companies are both federal and private. This was done this way because you must choose a federal consolidation company for all your federal loans and the same with private loans, they must be with a private student loans consolidation company, although most companies offer the services of both.

The best thing to do if you are considering student loans consoidation is to submit application for multiple companies as you can compare their rates and service and choose the best one.

Student Loans Consolidation Overall Overview

Student loan consoidation offers advantages and disadvantages. Just so you know what to expect, here are some of the pros and cons.


  1. Lower interest rates that are fixed and they will never change. This is great as interest rates are at an all time which means even when they go up, you will still have the low interest rate.
  2. Student loans consolidation offers one payment instead of mutliple payments as well as one phone number to call for questions.
  3. You can consolidate loans with your spouse giving you both just one lump payment.


  1. Longer payment terms mean you will pay more in intererst. Although you can still consolidate and enjoy the benefits and still pay your student loan debt off faster with a higher payment.
  2. Requirement is sometime tough, as you must have a certain amount of debt as well as loans you must have came from a certain group of lenders.
  3. It is overall all an okay way of saving, there are better ways like student loan forgiveness that can offer low payments as well as get a lot of you debt wiped away.
  4. Other benefits you had with your other lenders do not carry over with the studnent loans consolidation company.






How To Pay Student Loans Off – 6 Methods

September 1, 2011

Pay Student Loans

If you have just finished college and are looking for some insanely fast ways to get your debt cleared, we have just what you need, in the form of 6 different pay student loans off methods that you can use to eliminate your debt way faster than the normal rate so you can be debt free and not have to worry about student loans every again. By using thes pay student loans off methods, you will be able to bank all of the money you make, or spend it on the good stuff instead of forking it over to lenders for years and years.

Pay Student Loans

Pay Student Loans Off With These 6 Methods

  1. Start Saving For Retirement – This may sound weird and totally irrelevant but it is far from it. When one saves for retirement, the funds you put away are considered to be a tax write off. Meaning the more you put away, the better tax refunds you will get. If you do choose so, you can pay student loans off with the retirement funds that you saved as well. This can be a very powerful method that you can apply each year, giving you large sums of money to drop on your loan debt.
  2. Ask Your Employer – This may seem like a terrible idea at first, but it has worked countless times. Basically with this method of paying student loans off, you can ask your employer if they can either help you pay off your student loan or pay it  off completely, either by agreeing to stay with the company for a certain amount of time, as well as substituting some of your pay raises for a while to go towards your loans. Companies like this as they would rather keep a good employee instead of hiring a new one which is expensive. You can also try and negotiate your job offer, even a couple of thousand dollars extra per year. By explaining your motives of the boost to your potential employer, they will often time lend a help hand in the form of higher annual pay.
  3. Keep Livign Like A Student – You can pay student loans off a lot faster if you keep living like you did when you were as student. This includes continuing to bargain shop, avoid the shiny object symdrome, and flat out be cheap for a while. The money you save with this method can go towards paying off your loan. Althouh don’t forget to splurge sometimes because going cold turkey is never easy.
  4. Student Loan Repayment Programs – This option to pay student loans off consists of either working community service jobs through organizations like Americorps, VISTA and Peace Corps where each year they either pay off a percentage of your entire student loan, usually around 15 percent, or give your a large lump payment at the end of the year of service, in the thousands, which can be used for your debt. Other student loan repayment programs are found in public service jobs as well as jobs in areas of low income, where you can get most of all of your debt forgiven. To find out how you can pay student loans off with forgiveness, contact your lender who will have the most up to date information.
  5. Pick The Shortest Repayment Period – Picking the shortest repayment period will allow you to pay student loans off much quicker. Although the payment will be higher than longer repayment periods, you will both save money on interest as well as monthly payments and be out of debt years before a longer repayment program.
  6. Get A Roomate – By getting a roomate, or renting a room from somebody, this can result in your saving hundreds or even thousands a month. You can pay student loans debt off with this method alone years ahead of planned.

Pay Student Loans Conclusion

Now that you know some of the great and fastest ways to pay student loans off fast, you can now take advnatage of one or all of them which will ebable you to pay student loans debt off faster than you may have ever thought. Millions of indviduals of used these methods to pay student loans debt off quickly and you can do so as well, giving you the peace of mind that a debt free life brings.



Direct Loans Student Loans – Major Overview & Loans Offered

September 1, 2011

Direct Loans Student Loans

Direct loans student loans are offered through the William D. Ford Direct Student Loan Program with the lender of these loans being the Department of Education. Direct loans student loans are 100 percent federal loans and are offere to students as well as parents of dependable students, in the form or low interest loans as well as many other benefits that can make your college education a lot more affordable. There are different options that one can choose from that can help you attain your degree all of them are discussed in full detail below as well as the repayment options that are available to you when you start paying off your loan.

Direct Loans Student Loans

Direct Loans Student Loans Offered

There are two different types of direct loans student loans offered through the Ferderal Direct Student Loan Program (FDSLP), those are subsidized and unsubsidized Stafford student loans. Each type is discussed below:


Stafford direct loans student loans that are subsidized are given based totally off the financial need of the student, meaning those who need them most tend to get them most. These loans provide benefits to the student like:

  •  You do not have to pay any interest payments while in school as the government pays them for you, and you don’t have to pay them back if you are in full time enrollment.
  • 6 month grace periods where you do not have to pay your student loans for 6 months prior to your graduation.
  • You can defer these direct loans student loans as well which means that, which is an agreed postponement of your monthly loan payments.
  • These loans are offered at sums start at 2,625 for your first year, 3,500 for your second year, 5,000 dollars per year after you the completion of your first two years, and lastly 8,500 dollars a year for graduate students.


The ubsubsidized direct loans student loans option is not needs based meaning that it is much easier to qualify for, but it charges you with interest payments from day one, which can either be taken care of while in school, or paying them offer later when school is over. Here is the major information on unsubsidized direct loans student loans:

  • Interest rates start as low as 3.10 percent.
  • 6 month grace period is offered where you will not be charged interest as well.
  • There activation fee for the loan is 4 percent.
  • Borrowing sum totals are up to 4000 dollars for both first and second years of schooling, 5000 dollars per year after you complete your second year of enrollment which can be attained all the way up to graduate school, for graduate and professional students you can borrow up to 10,000 dollars per school year.

Direct Loans Student Loans Repayment Options

Direct loans student loans have 4 different repayment options which you can choose from, whichever one best suits what you can afford as well as how fast you want to pay it back. Here are the direct loans student loans repayment options:

  1. Standard Repayment – This option provides you with up to a 10 year repayment term.
  2. Extended Repayemnt – This direct loans student loans repayment method allows anywhere from 12 to 30 years of time for you to repay you student loans.
  3. Graduated Repayment – This option also provides a 12 to 30 year repayment plan and with this method your monthly payments increase every two years.
  4. Income Contigent Repayment – This last direct loans student loans repayment method is based on a percentage of your monthly income, usually having your monthly payments being set at 15 percent of you montly income.

Direct Loans Student Loans Deferment Options

If you want to defer your direct loans student loans, you need to prove one of the following categories:

  1. Economic Hardship
  2. Forbearance
  3. Default
  4. Disablility
  5. Unemployed

This is a main over view about direct loans student loans which can assist you in making your education more affordable and have provided millions of individuals with money to go back to school and further their education.





Federal Student Loans Payment Options

August 31, 2011

Federal Student Loans Payment

There are many federal student loans payment methods that you can use that you can use that work best to your specific situation. Being that we are talking about federal student loans payment, good chances are that you just graduated, if this is the case, a big congrats! There are basic methods as well as newly established methods in which it can make it easier for you to make payments and avoid default. The 6 different ways are discussed below.

Federal Student Loans


Federal Student Loans Payment - 6 Different Options

  1. Standard Federal Student Loans Payment – This option allows one to pay over the course of what is usually 10 years, and payments can start as low as 50 dollars. This plan usually has payments stay the same over the course of the repayment period until the loan is fully paid off.
  2. Extended Federal Student Loans Payment – This method allows a student who may be low on cash to extend their repayment period from the basic standard 10 year program to anywhere from 12 to 30 years. Being that many do this because of a shortage of money, monthly payments have been as low as 5 dollars.
  3. Graduated Federal Student Loans Payment – Option three allows one to gradually increase their payments, usually every 2 years, where it starts out low and works its way up higher and higher each two years. This is a great option for those who either don’t have a job or have a low paying job right out of college, but as the years go by will advance in their job and get better pay.
  4. Income Based Federal Student Loans Payment – This method of repayment is a lot of what is sounds like, being that your payment are based off what you earn, which is usually 15 percent of your income. Like the extended payment plan, payments can be as low as 5 dollars a month, and are adjusted whenever you wither make more money or less money.
  5. Income Sensitive Federal Student Loans Payment – This option is only availble for direct student loans. This plan is very similiar to the income based option and is based of of 4 to 25 percent of your income and your monthly payment must be at least equal to your interest payment. This plan is available to direct student loan holder for up to 5 years and must be applied for each year. Being that payments are usually lower than normal, yoru repayment period will be extended with this option, around 12 to 30 years.
  6. Income Contigent Federal Student Loans Payment – This last option is only for FEEL loans and has a maximum repayment period of 25 years. This federal student loans repayment option is for those who have low income jobs or are participating in forgiveness programs which usually have low income. The monthly payment is factored either by up to 20 percent of your income or the amount in which it would take you to pay off your loan in 12 years.
  7. Student Loan Forgiveness – This federal student loans payment option is an excellent way to get your debt wiped out by a big percentage or completely. This option is available in public service jobs for many different careers as well as in community serivce like Americorps, VISTA or Peace Corps. These programs either pay a percentage or your loan off each year of service which is about 15 percent and is usually found in community serice, or they pay the rest of your loan off after 10 years of working in a public service job.

Conclusion to Federal Student Loans Payment

Now that you know the different options as far as federal student loans payment options go, you can now figure out which one will work best for you. Although you may start out by paying low, you can always change it in the future when you start earning money, which in the beginning will take off a lot of stress, and as you earn more money you will be able to pay it off faster. Hopefully this federal student loans payment information was exactly what you needed and great luck on getting the best one for you.


Federal Direct Student Loans – Loans Offered & Overview

August 29, 2011

Federal Direct Student Loans

Federal direct student loans are offered through the government as a way for you to get the money you need when it comes to affording college. Knowing that those straight out of highschool or wanting to go back to school don’t exactly have the funds needed to attain a degree, The Federal Direct Student Loan Porgram (FDSLP) was designed as a way to provide low interest loans as well as many other benefits that cater to being a student usually without a job.

These federal direct student loans are offered in two categories, one being subsidized loans and the other being unsubsidized and are offered by the Stafford Student Loan program. These two options are discussed in much further detail in the next section.

Federal Direct Student Loans

Federal Direct Student Loans – Major Overview

Subsidized Federal Directs Student Loans

  • These loans are designated for those who need it most, also known as an as needed basis. These loans are given upon proof that are low income or live in a household that is low income among other speficications and these federal direct student loans allow you to not have to worry about paying interest while you are in school as the government pays you interest payments until you are finished with enrollment. With subsidized federal direct student loans, you can borrow anywhere from 2,365 to 10,000 dollars depending on where you are at in your schooling,

Unsubsidized Federal Student Loans

  • These loans are offered to anyone, unlike subsidized student loans, you don’t have to prove your need. This option charges you with interest from day one, and you can either choose pay your interest each month, or allow it to accumulate and pay it off later, although this isn’t suggested as if you do, you will pay much more then you would if you paid it off each month while you were in school. These federal direct student loans allow you to borrow anywhere from 4,000 to 10,000 per year depending on what level of education you are entering. These loans have an 4 percent activation fee meaning you pay 4 percent of your loan amount when service starts.

Federal Direct Student Loans – More Details

  • You receive a 6 month grace period with each of the federal direct student loan options above, meaning that you do not have to pay monthly payments on your debt for the first 6 months out of college. This rule also applies to dropping out or dropping below the level of half time enrollment.
  • Interest rates are found to be around 3 to 9 percent and are fixed meaning they stay the same for the entirety of your loan repayment.
  • There is no penalty for early repayment.
  • Federal direct student loans repayment plans are set at 10 to 30 years depending on which plan you choose to go with.
  • They have student loan deferrment options that can be used in the following categories; education, unemployment, economic hardship, forbearance, disability and default.

If you are intersted in using fedreal direct student loans for tuition fees, the best thing to do now would be to fill out a Free Application of Student Aid online which will show you which federal direct student loans your are eligible for.



Government Student Loans – Programs to Use & Overview

August 29, 2011

Government Student Loans

There are multiple government student loans that you can use that will enable you to be able to attend college and better yet afford college. These loans are federal loans which should be your first choice when it comes to looking for loans before you inquire about private loans, just because you will find that interest is going to be a lot lower with federal options, as well as many of them being non credit based, meaning they really could care less what you credit score is, and it doesn’t factor into your qualification. There are 4 different government student loans that are available to you, those being; The Stafford Loan, The Parent PLUS Loan, The Perkins Loan & The Graduate PLUS Loan. These will be discussed in the next section as well as the pros and cons when it comes to government student loans.

Government Student Loans

Government Student Loans – The Different Options

  1. The Stafford Loan – This government student loans program offers you a fixed interest rate meaning that it will never change and can be found as low as 3.4 percent, it ranges from the borrowing limits for first years getting up to 5500 dollars to graduate students getting up to 20,500 dollars as the loan limit increases each year, you don not have to make payments on your loan debt while you are in school and you do not have to have a good credit score to qualify for Stafford government student loans.
  2. The Parent PLUS Loan – This loan is for parents who are looking to pay for the education of their children where the funds will be sent to the school in which their child is enrolled at. These government student loans offer a fixed interest rate at 7.9 percent, you can borrow up to whatever your other financial aid resources aren’t covering, deferment options, a 10 year repayment period and you can get 0.25 percent off your interest rate by choosing to have your funds automatically deducted from your account.
  3. The Perkins Loan – You will find the interest with these government student loans to be at a rate of 5 percent. You do not have to pay back your student loan until 9 months after graduation if you are enrolled half time or more, 10 years to repay your debt, deferment options and the possiblility of having your payments be considered tax deductable and lastly you will not be charged an activation fee, or in other words there is no service charge.
  4. THe Graduate PLUS Loan – Graduate loans come with an interest that is at a fixed 7.9 percent. These government student loans offer you many of the same benefits of the Parent PLUS program and requires that you either have good credit or supply a co signer who has worthy enough credit for you to qualify.

Government Student Loans – Pros and Cons


  • Most of them offer you the chance to get a loan and not have to have a good credit score in order to qualify.
  • You get a 6 to 9 month grace period with government student loans where you can focus on getting a job before you have to start paying loans.
  • Interest rates are significantly lower than you would find in private student loan programs.
  • Student loan forgiveness is always available to you through governemtn student loans programs.


  • With lower levels of schooling, government student loans have borrowing limits that are a lot lower than what you would need in order to be able to afford a years tuition and other schooling costs.
  • You need to apply for the loan each year meaning that you will have to pay each one off seperately
  • More often than not, government student loan funds will be given to you by your school, taking the way the freedom of having access to the money at all times, meaining whenever you need funds you will have to go through your school.

International Student Loans – Overview & Lenders To Use

August 28, 2011

International Student Loans

International student loans are you ticket to studying abroad! Over a quarter of a million college students study abroad every year and now you can be one of them by using international student loans. They provide you with a way to both allow you to visit a foreign country as well as have the funding to do it without having to keep a job. In order to get you more familiar with international student loans, the next section will provide you with an overview, what is needed to be eligible as well as 4 great lenders to use for your loan.

International Student Loans

International Student Loans – Overview

International student loans are offered in two different categories, short term and long term. Below are the details on each:

Short Term:

These loans are called Study Abroad Student Loans and are given upon proof that you are currently enrolled in a college and have completed credits at the college. Your specific school must be enrolled in the study abroad program to get international student loans and if it is, then you are able to go wherever you want to study abroad. These loans will offer you up to about 50,000 per year you are studying. These loans can be used for anything related to schooling like tuition, books, supplies, living and food and even medical needs.

Long Term

The long term international student loans are called Foreign Enrolled Student Loans and offer you the chance to atttain a degree through a foreign college. These loans offer around up to 50,000 dollars for students who are undergraduates and up to 70,000 for studies like dental, law, medical among others. The best way to become qualified for these international student loans is to provide a co-signer who has a good credit score, unless you think that you have built up your own credit score to a level that would qualify you. Like Study Abroad Student Loans, Foreign Enrolled international student loans can be used towards anything school related.

Internatioal Student Loans – Lenders To Use

Federal -

Just like with any other student loan, international studen loans are offered on both a federal and private level. Here are two options you can use for federal international student loans: Stafford Loans and PLUS Loans which can be applied for by filling out a Free Application For Student Aid (FAFSA). You will want to get an early start on these applications because it can take a couple months for verification.

Private -

Private international student loans are provided by many great lenders, and are credit based meaning that you must provide a good credit score to qualify for the loan. The best program to go through for private inernational student loans is go go to a site called where you can find more information by filling out an application which can be found on their main page. They have a database of thousands of colleges that are approved and provide you with fast lending and very competitive interest rates on their international student loans.


Graduate Student Loans – Loan Programs & Lenders To Use

August 27, 2011

Graduate Student Loans

If you are looking for information on graduate student loans, that means you have at made it pretty far in your schooling. so first off, congratulations! Although your potential for income and better jobs increases after your completion of graduate school, it isn’t going to be cheap as you probably already know, which is what makes a lot of people decide against going back to school. But don’t let that be you as graduate student loans can be lend you the helping hand you need when it comes to getting your graduate degree. Below will be a detailed overview of the multiple loan lenders and programs that you can use to obtain these graduate student loans.

graduate student loans

Graduate Student Loans – Federal Programs to Use

First off, just like other levels of schooling loans, there are two options that you can use, federal and private. Federal will yeild the lowest interest rates as as well as other benefits, although private graduate loans do hold their own especially when you can get enough money with federal loans as well as they are usually more flexible when it comes to repayment. Being that you may need both, the information below will offer you with both federal options and private organizations who offer graduate student loans.


Stafford Graduate Student Loans:

  • This graduate student loans option has two different loan methods, subsidized which is a financial need based loan, offers a fixed interest rate as low as 4.5 percent, you don’t have to pay a cent on your loans until you are completely finished with your schooling, and your credit score doesn’t factor into your acceptance as well as you don’t have to pay interest while in school as the government pays it for you, and you don’t have to pay it back. The next options for their graduate student loans program is their subsidized loan which offers benefits like a fixed interest rate as low as 6.8 percent or less, you can borrow up to 20,500 dollars each year for tuition and school costs, and do not have to pay in school. The drawback to the subsidized student loan is that you will be charged with interest the day you take out the loan.

Grad PLUS Graduate Student loans

  • Grad PLUS is another federal program who offers graduate student loans. They offer a fixed interest rate of 7.9, you don’t have to pay monthly payments until shcool has concluded, can be obtained by either having a good credit score or prviding a cosigner who has a good credit score, and best of all your payment are often considered tax deductable.

Graduate Student Loans – Private Lenders

Now that you know two great federal graduate student loans methods, you can also consider using private lenders as well. Here are 2 accredited and highly reputable private lenders who offer graduate student loans.

Sallie Mae Graduate Student Loans

  • Sallie Mae is an excellent lender who provides you with the chance to get money for grad school. They offer their eligible applicants with many benefits like minimal fees for service, low interest rates which range from 2.05 percent to 10.05 percent, anywhere between 15 and 30 years for you to pay back your loan, and you get a 6 month grace period with them as well.
  • Chase Bank – This national bank is another great resource for getting graduate student loans. With Chase Bank you will enjoy no activation fees, you can borrow up to the cost of your attendance or however much is needed to suffice what your other financial aid resources aren’t supplying and they offer consolidation services if you ever need it in the future.