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| Loans Article | | Parent Loans or Student Loans - What is Going to be Best for My Child?Parent Loans or Student Loans – what is going to be best for my child? At least 20% of college students need some type of loan to help pay for their college education. Such a statistic can lead to students graduating with an unmanageable debt load. An alternative is for parents to help out by taking out loans themselves. But which is the better option – student loans or parent loans? Each has distinct advantages and uses. Federal student loans Federal student loans have the lowest interest rates and best repayment options. If you need to take out loans and you qualify for federal loans, this is your best choice. Just be sure to accept only the funds you need, even if you are offered much more. Parents can always help their children pay off these loans once repayment begins after graduation. Federal parent loans PLUS Loans (Parent Loan for Undergraduate Students) are another loan option that comes with low interest rates. If you are a parent with dependent students attending college at least part-time and you have a good credit history, you are eligible to receive a PLUS Loan. These loans are not needs-based. You can borrow up to the total cost of undergraduate education expenses, minus other financial aid already received. Unlike federal student loans, payment is not deferred until after graduation; instead, your first loan payment will be due about 60 days after the loan is disbursed. Also unlike federal student loans, PLUS Loans require an application fee. Private loans Both students and parents can take out private loans to cover funding gaps. Terms are basically the same for these loans, although students may be able to have their repayment deferred until after graduation. Another consideration is that students may wish to take out small loans to begin to establish a credit history. You may need to cosign for private student loans. Other options Parents do have some additional options for college funding, such as home equity loans. These often have rates as good as private loans. So which type of loan should I get? This really comes down to a personal decision. Ask yourself these questions as you are trying to decide: - What level of debt do you feel is manageable for your child to graduate with? - How important is it to you that your child takes responsibility for paying student loans? - Will you and your child work out a repayment plan to repay PLUS Loans and other parent loans? This article is distributed by NextStudent. At NextStudent, we believe that getting an education is the best investment you can make, and we're dedicated to helping you pursue your education dreams by making college funding as easy as possible. We invite you to learn more about Parent Loans or Student Loans at http://www.NextStudent.com. My goal is to help every student succeed - education is one of hte most important things a person can have, so I have made it my personal mission to help every student pay for their education. Aside from that, I am just a pretty average girl from SD. |
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 | Student Loan Consolidation Program - http://www.student-loan-consolidation-programs.us Consolidate your Federal student loans with Student Loan Consolidation Programs and get a low monthly payment with a fixed interest rate. Consolidating with Student Loan Consolidation Programs gives you the opportunity to reduce your monthly student loan payment; with Student Loan Consolidation Program's borrower benefits, you could reduce your interest rate and save thousands of dollars in interest over the life of your Federal Consolidation Loan. - more |
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 | Bad credit loan - http://www.badcredithomeloansmortgage.com If you have bad credit, go through our special Bad Credit Loans articles, where you will find bad credit loan, bad credit personal loans, bad credit home loans, & debt consolidation information. - more |
 | Consolidate Student Loans - http://www.howtopaystudentloans.com/ Offers Perkins Loan Consolidation, Stafford Loan Consolidation, Plus Loan Consolidation, Private Student Loan Consolidation at How to Pay Student Loans - more |
 | Bad Credit Loans - Bad Credit Personal Loans - Easy Bad Credit Loans - http://www.easy-bad-credit-loans.co.uk/ Do you have bad credit history and want to apply for an easy loan, then don't hesitate, because Easy-Bad-Credit-Loans can help you whenever you need. Easy-Bad-Credit-Loans offers best bad credit personal loans in UK like car loans, easy cash loans, home improvement loans, unsecured loans, and tenant loans for bad credit at low APR. - more |
 | Small Business Loans - http://www.EZUnsecured.com Rates start as low as 7.75% APR, and Loan Amounts range from $10,000 to $350,000 under our NO DOC Program, and can go as high as $1,000,000 on our Full Doc Program, which requires Full Income and Asset Documentation. - more |
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 | Compare Home Equity Loan - http://www.equity-home-loans.org Put very simply, a home equity loan is a loan that is taken out on the appraised value of your house. The borrower can generally borrow up to 100% of the appraised value of the house minus any liens or prior commitments. The trick to getting more for your loan amount is to artificially inflate the value of your house for appraisal purposes. The techniques will be discussed later. - more |
 | Cheap Loans, Cheap Payday Loans UK - http://www.cheaploanonline.net Cheap loans online provides various financial services to borrowers at cheap rate of interest like cheap loans, cheap payday loans UK, bad credit personal loans and cheap personal loans online with good or bad credit in the UK. - more |
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