10 Best Student Loan Options
Written by: The Student Loan Today Group
There are several different options available for students in terms of student loans; however, following are the 10 Best Student Loan Options:
1. Subsidized Stafford Loan
2. Unsubsidized Stafford Loan
3. Federal Perkins Loan
4. Federal PLUS loan for parents
5. Direct PLUS loans
6. Federal consolidation loan
7. Federal Nursing Loan
8. Federal Insured Student Loan
9. Health Professions Student Loans
10. Private student loans
Let's take a closer look at more information regarding the 10 best student loan options that anyone considering college student loans should consider:
1) The Subsidized Stafford Loan is available for both graduate and undergraduate study. While the student is in school, the interest on the loan is paid by the federal government. This loan is need based, so not all applicants may qualify.
2) The Unsubsidized Stafford Loan is also available for graduate and undergraduate study. Unlike the Subsidized Stafford Loan, with this loan the student is responsible for the interest that is accrued on the loan while they are in school. This is not a needs based loan, so students may be eligible for the loan even if they do not show a financial need for the loan.
3) The Federal Perkins loan is a type of student loan that is available to both graduate and undergraduate students. Applicants must demonstrate financial need in order to qualify for this loan. Funds are disbursed by the school and must be repaid to the school.
4) The PLUS loan program gives parents of students the option to borrow up to 100% of their child's cost of education. Parents are eligible for this loan even if they do not demonstrate a financial need and regardless of income.
5) Direct PLUS loan: this type of student loan is available to parents and guardians of dependent undergraduate students. Borrowers do not need to demonstrate financial need and may borrow up to the cost of attendance; minus any amount of financial aid that may be received. Loan funds are first applied to tuition and fees. This type of government and federal student loan has a variable interest rate.
6) The federal consolidation loan program gives students and their parents the option to consolidate loans and take advantage of lower interest rates and monthly payments.
7) The federal nursing loan gives students who are enrolled in nursing school the option of a low interest loan and flexible repayment options. Loan cancellation is available in some cases.
8) The Federal Insured Student Loan program gives students who might not otherwise qualify for a student loan the ability to receive the funds they need to complete their education.
9) The Health Professions Student Loan provides long-term, low interest loans to students pursuing degrees in dentistry, optometry, pharmacy, veterinary medicine or podiatry.
10) Private student loans require a credit check for borrowers; however, students and their families are typically able to borrow more money than they would have been able to through a federal student loan.
For more in-debt information on the 10 best student loan options, and many other student loan topics please visit http://www.student-loan-today.com.
About The Author
The Student Loan Today offers insight into the various options students have for student loans, aid, and student assistance. For more valuable tips on this topic and much more visit http://www.student-loan-today.com.
Is a COnsolidation Loan Right for You?
Consolidation loans allow you to consolidate your monthly payments to several creditors into one, larger monthly payment. These loans can help individuals to lower their monthly payments, pay off debt faster, and lower the amount of money that you...read more
What is a Secured Personal Loan?
A secured Personal loan is any personal loan that is secured on your home or property. Secured loans are more easily accessible to those with a poor credit record. This means that persons who are self-employed, or who have recently changed jobs, or...read more
Relax, Unwind, and Enjoy With American One Secured Personal Loans
Secured Personal Loans are those loans against which you don't have to put your home or other property as security. The path of Secured Personal Loans is very easy and dependable. These loans are helpful to you in more than one way. With the help of...read more
Return to Home