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Posted: Wed Feb 08, 2006 4:23 pm Subject: Some tips for student loan borrowers

Those who are looking for student loan to continue higher education, here is a checklist that you should go through before taking the final decision:

Calculate all your funds and sources of income. Consider grants, loans, part time jobs and shares from your parents as well.
Now this amount should not be less than the estimated expenses. While counting your expenditure, include outflows like conveyance, cost of study materials and all other campus expenses.
If you find that your fund is less than true expenses, try to look for some other ways of income, like Federal Work Study program. Else if fund received is greater than your estimated expenses, do not let the surplus money go into trash, use it effectively.
Do attend entrance and exit counseling, it helps to know your options very well. And if you are not aware of your options, how can you choose the right card? Best of luck with this.

Posted: Wed Feb 08, 2006 4:25 pm Subject:

Thanks Brian, for posting these great tips!

~Mary

Posted: Wed Apr 12, 2006 7:50 pm Subject:

I considered it all and looked into it all, but because I want a professional degree, I had to take the student loans right along with the grants, the financial aid, and all the work. I'm currently in the process of stockpiling all my extra after-bills income in order to make a super-duper first payment on the almost $30,000 total of loans I took out. I'm getting what I asked for and my grades are awesome, and I'm prepared to give back!

Posted: Wed May 03, 2006 5:17 pm Subject: student loan rates

Just so that everyone knows .... the rates on student loans and parent plus are due to go up July st of 2006

Posted: Wed May 03, 2006 5:19 pm Subject: student loans

The rates are also no longer going to be able to be at a fixed rate. Word has it they will all have to be at a variable rate from July 1, 2006 and going forward...for consolidations

Posted: Wed May 03, 2006 5:23 pm Subject: student loans

The info posted about exit and entrance interviews is so true.Most times exit interviews are able to be completed on line. A lot of good info is given from entrance and exit interviews. It is so important to be well informed bout one's loans.

Posted: Wed May 03, 2006 5:25 pm Subject: student loans

It is also a good idea to consolidate during grace period. A lower rate is able to be obtained during grace period.

Posted: Wed May 03, 2006 5:28 pm Subject: student loans

Do also realize that after completing school a grace period is only six months. So typically one is able to take advantage of some of the grace period and still be able to consolidate loans in grace period. Remember deferment is also available. In-school deferment as well.

Posted: Wed May 03, 2006 5:33 pm Subject: student loans

from my experience any of the companies that refer to themselves as any type of "resource" should really be used as just that...a resource to make you aware of the consolidation program.I suggest choosing a company that has a great "track record" will their borrowers.