Student Loans

Navigate student loans for financial success before, during and after college
By Patti Richards, Free Lance Writer PGWRites Communications
With college costs constantly on the rise, getting through college without some student loans is almost impossible. Both federal student loans and private student loans bring out of pocket college expenses down and after college payments more manageable.

For families in financial hardship, bad credit student loans make college dreams a reality. Bad credit student loans help families get their kids through college when times are tough.

Federal student loans and private student loans combined help many families who need a combination of loan options to pay for their kid’s college education. Both federal and private student loans make graduate school possible for students wishing to pursue advanced degrees. Government student loans and private student loans will:

1. Make college a reality for any family budget

2. Offer good student loan consolidation terms for repayment upon graduation.

3. Encourage graduates to consider advanced degrees with help from student loans.

Find a college student loan that offers good repayment terms after graduation

Let's face it, most college kids don't have much money left right after graduation. And unless you win a sweepstakes, chances are you need a low monthly payment with a great interest rate. Consider repayment terms carefully when choosing a student loan.
Try:  Sallie Mae is the biggest provider of student loans in the country and has great options for repayment. American Education Services specializes in all types of student loan services.  For an innovative alternative, check out GreenNote, a service that arranges for a student to borrow from family and friends.

Work with your college to take advantage of both private student loans and federal student loans

By combining both private and federal loans as well as grants and scholarships, many students find the actual college years o be quite affordable. Take advantage of your college's financial aid department to find the best combination of private and federal student loans.
Try:  EStudentLoan and Student Loan Network both offer side by side comparisons of the best loan options available for students. They offer quotes on private and federal loans as well as grant and scholarship opportunities.

Consolidate student loans when interest rates are low to decrease monthly payments

Work with your lender to find the right time to consolidate. When you consolidate, you combine all your private and federal loans into one low monthly payment at a reduced interest rate. This saves graduates lots of money over the life of the loan and provides the added convenience of one monthly payment.
Try:  StudentLoanConsolidator.com a service of the Student Loan Network and Direct Consolidation provide online applications for student loan consolidation as well as school parent services.

• Remember, all or a portion of your student loan interest is deductible on your federal income tax. Some individual states may offer some type of tax credit for student loans as well. Check with your accountant or tax preparer to take advantage of this deduction.
• Don't overlook the importance of grants and scholarships. Students don't have to pay grants and scholarships back, so check with your financial aid department to apply.