A student loan is a loan given out to students to finance either partly or fully, their higher education. Many students who cannot afford to pay for their education resort to taking out a student loan. There is no denying that student loans assist people to continue their education. But at the same time, there is also no denying that many people are unable to pay back their student loans and get caught up in debt as a result.
Before you go get a student loan, remember to analyze your own financial position and be very sure that you can repay the loan back later on. These are difficult times, and getting a job after graduation may not be easy. This is why, federal student loans should be the first port of call. Coming from the government, their terms are rather more lenient compared to other types of student loans.
Other types of federal student loans include the Stafford and Perkin loans. These two offer very low interest rates, and you can repay the loan back after you graduate, not before. You can also get your parents to apply for a PLUS loan if that were possible. PLUS loans are meant for parents to apply on behalf of their children.
Credit Finance
Tags: get a student loan, student loans
Posted February 7, 2012 by John under Career, Expenses, Financial Services, Loans
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Source: http://www.creditfriendlyfinance.com/student-loans-types/
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