Student Loans & Financial Aid

Student Loans & Financial Aid
Student loans easy? The hard part about how to get a student loan is “getting a good rate.” Some people spend years with student loan payments. I bet they never imagined
how long it would take to to repay their student loans.
Applying for a Student Loan
It is so easy to apply for a student loan these days. You can be approved for a student loan in a matter of 24 hrs or less. It is just like applying for a credit card and if your reading this article you probably already know how easy that was.
Also you probably have received some spam mail saying you qualify or you are already pre-approved for a student loan.
The catch is the rate. They don’t spend much time explaining the rate, they just want to lock you in and they hope that their clients will worry about the rate when it is time for repaying their loans.
Paying Student Loans
The amount of students struggling with payments on their student loans is at an all time high. Most likely because of this scenario you get out of college and get a good paying job. Now you want to move out of your parents house, and now you want a new car to further show your independence. Not a good move but a move that many college graduates are making within 1 -2 years of their graduation.
Now I’m not telling you to stay at home with your parents until your 30 but just think logically, think student loan debt relief. You want to pay back your student loans; not turn the payments into a mortgage.
Student Loan Payment Options
Some students have graduated and overlooked their options during
their grace period. This is very common because of the lack of information. You can deffer your payments temporarily- stop making payments.
You can default your student loans – stop paying your loans altogether or in some cases you can consolidate your student loan.
Student Loan debt relief or Mortgage
With the lenders financial security being so great they don’t mind extending your repayment time while reducing your payments. They know that they are going to get their money regardless. What you don’t realize is that you most likely will pay more money over time with these low monthly long term payments. With ridiculous loan repayment plans you will never achieve student education loan debt relief. Some loan repayment plans now allow you to extend your payments for 15-30 years. Sounds like a mortgage doesn’t it? Exactly stay away.
Student Loans – Recap
1. If you need a student loan apply for it and examine the terms closely

2. Make repaying your student loans a priority when you graduate and look into grace period options.

3. Shop around for the best repayment terms and don’t by any means turn your student loan into a mortgage.

4. Consider all of your Payment Options.

5. Achieve student loan debt relief before you buy that car of your dreams. You want to enjoy it don’t you?