education loans

education loans

Obama Highlights Education in Nomination Acceptance Speech

During his speech at the 2012 Democratic National Convention, President Barack Obama accepted his party’s nomination to run for president and hopefully take on another four years. Among the topics he covered were weighty issues like the economy, the national debt, battling environmental pollution, medicare, and taxes. He also gave his views and ideas on education and how it should be strengthened.

Obama was optimistic about the state of education in America, saying that some of the country’s worst schools have improved their math and reading scores, and that nearly every state has committed to raising their teaching and learning standards. He spoke to concerns about college tuition, bringing up more than once his commitment to keeping rates low.

“Education was the gateway to opportunity for me. It was the gateway for Michelle. And now more than ever, it is the gateway to a middle-class life,” Obama said in his speech.

The president gave several specific goals for raising the bar with education. For college students, he asked his fellow Democrats’ help in putting two million students into community colleges that will guarantee them a job once they leave. He also wants to cut the growth of the cost of tuition at colleges and universities in half over the next decade. Read the rest of this entry »

Resources for Student Loans

Many people choose not to attend college not because they cannot afford the education. Many individuals believe that they do not qualify for scholarships and simply give up the dream of attending college. There are numerous misconceptions about college loans as well. College loans are an excellent way to pay for school without having to add stress while in school.

A lot of individuals think that they do not qualify for loans. The fact is that banks, companies, private entities and even the government all give out loans for educational purposes. Anything related to education is considered an expense such as tuition, books, housing, lab fees, food and many other factors. The question remains as to how and where can someone receive access to these loans?

The best option is to talk to a college or high school admissions counselor as to what specific loans are best for your personal needs. Once you have found the school you wish to attend talk to a financial or admissions counselor about the specific requirements that the school has concerning tuition and financial obligations. Although rare, some institutions allow individuals to pay for tuition on a payment plan instead of lump sum payments. If you do decide to do a payment plan then you will need a smaller loan over a longer period of time from the loan provider.

Take the time to apply for grants and scholarships. There are thousands of hidden organizations willing to give away money to eager students. Do online research to locate scholarship opportunities. Fill out the FAFSA and SAR government aid options to further augment your monetary situation. After you have applied for financial aid and received any scholarships from the college of your choice, factor in the bottom line total of how much money you are going to need to cover all costs of a college education.

Check with your local bank first before reaching out to a specific college loan provider. Banks will usually offer more reasonable interest rates than other private loan providers. Banks will have college loan options tailored to your specific degree and major. Some banks will also have access to many different types of private and sometimes government loans such as the Stafford Loan, PLUS loans, School Certified Private Loans, which are dependant upon your school’s participation in the program, and Non-Certified Private Loans. The greatest plus banks have is that your loan can be repaid in a time frame that is comfortable with your schedule. Many private loan providers want students to repay loans starting within 6 months of graduation.

Private loan companies such as Astrive Loans, eStudent Loans and American Educational Services make college loans their top priority. Each company is different but mostly offers more information than banks on the student loan process. Students can easily search and apply for thousands of loans, research financial aid options and gain quick access to money. The downside of private loan companies is the structured repayment schedule, high interest rates and the impersonal feeling of not having a private banker at your disposal.

Before making any decision research all options thoroughly and decide which loan is best for your personal situation.


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