College Loans Interest Rates: What Borrowers Should Know
An interest rate represents how much it costs to borrow money from a lender. In return for loaning the money, the lender gets a percentage of the money loaned over a particular period of time. The subject of college loans interest rates is an important one because the amount of interest factors into how much a higher education is going to cost. Interest rates on student loans vary depending on the specific type of loan. A student loan is either federal or private. Federal loans are disbursed by the U.S. Department of Education, while private loans are offered by banks, credit unions and lending companies.
The most popular type of loan is the Stafford Loan. This federal loan features declining interest rates over time. With a subsidized Stafford Loan, the government pays the interest while the student is in school, or while the loan is in deferment. The interest rate on a subsidized Stafford loan obtained between the time period of July 1, 2008 and June 30, 2009 is 6 percent. Both subsidized and unsubsidized Stafford loans feature low rates of interest. The difference is that the borrower is responsible for paying the interest on an unsubsidized Stafford loan.
Another type of federal student loan with a low interest rate is the Perkins Loan. This loan is awarded based on student need. Although the interest rates are very low the amount of the loan is also comparatively low. Students who receive the Perkins Loan will almost always need to obtain additional funding for their education through Stafford loans, private loans, grants or scholarships. There are also Parent PLUS loans with interest rates at approximately 8 percent. Parent PLUS loans are for parents who wish to pay for their child's college education.
Interest rates from banks, credit unions and lending companies will vary depending on the company and the loan type. To find out about the college loans interest rates from private lenders, speak with their lending department. You may also want to consult with a student financial aid counselor. They can help prospective and current students and their parents find appropriate loans and financial aid programs. Some of the factors to be considered when choosing a college loan are income, assets, tuition cost and living expenses.
College Loans Grants
| Student loan debt keeps going up Outstanding student loan debt surpassed $1 trillion in 2011, an amount that now exceeds what the entire nation owes in credit card debt. The amount of money owed on student loans has continued to rise, even as recession-minded consumers pay down debt elsewhere... | ||
OJSC Transcontainer - Replacement - Results for the Nine Months 2011 This is a replacement for the announcement sent on Tuesday, 17 January 2012 at 07:00, RNS number 6739V. The amendments have been made to the dates in the first two tables in the Key operating results ... | ||
Can I combine parent and child student loans? Dear Dr. Don,Someone recently told me you could consolidate all student loans, or the government is working on that to happen in the near future. My daughter has federal and private loans in her name. ... | ||
Students React to Obama's Assessment of College Costs - LoanSafe
| ||
'Pay As You Earn': What students need to know For families struggling to pay for college, 2012 won't be pretty. This year, interest rates on some federal loans will increase, tuition will go up, and it will become harder to qualify for a full Pell Grant. But there is also some good news... | ||
How You Pay for College Impacts Your Tax Bill - Fox Business
| ||
Consolidating Privarate Student Loans to Lower Debt Repayment - ClimbTheNet
| ||
Will President Obama's Blueprint Cut College Costs? - New York Times (blog)
| ||
OJSC Transcontainer - Results for the Nine Months 2011 For immediate release OJSC TRANSCONTAINER Interim Unaudited Results for the nine months ended 30 September 2011 OJSC TransContainer (together with its consolidated subsidiaries, "TransContainer" ... | ||
Why we make the financially wrong choice when paying off debts A study says "debt account aversion" drives us to pay off small debts first, even if paying the highest-interest debt is always smarter financially.. | ||
Wonkbook: Robert Kagan, Obama's favorite Romney adviser Robert Kagan is a prominent neoconservative who advised John McCain in the 2008 race and is advising Mitt Romney in 2012. But after publishing a cover story in the New Republic arguing against "the myth of American decline," he has found himself a new fan: President Obama. Read full article >>.. | ||
Technorati Tags: College Consolidation Loans, Collage Loans Consolidation, College Loans Interest
- How To Pay College Loans
- Alternative College Loan
- Alternative College Loans
- College Direct Loans
- College Loan Forgiveness
- College Loan Repayment Plan
- College Loans Interest
- College Loans Parents
- College Scholarships Loans
- College Stafford Loan
- College Students Loans
- College Tuition Loans
- Federal College Loans
- Graduate College Loans
- Money For College
- Consolidate College Loans
- Private College Loans
- Student Loan Debt
- Student Loans Without A Cosigner
- Undergraduate Loans
- Social Bookmark This Page
- Privacy Policy
- Sitemap
Articles