| Student loans are unlike almost any other kind of | | | | poor enough for aid, not rich enough to pay out of |
| debt. | | | | pocket", federal financial aid may be no help at all. |
| These are loans offered to students to assist in | | | | Act Private Student Loans are available to students |
| payment of the costs of professional education. | | | | attending any TERI-approved school, including more |
| Over the years these loans have proven themselves | | | | and more private and non-traditional educational |
| to be a very reasonable solution to paying for school. | | | | institutions, giving you the freedom to pursue |
| They are quite unique in that they are specifically | | | | whatever path in life you want to follow. |
| designed to help students meet the costs of a higher | | | | Repayment |
| education. | | | | Repayments on a federal student loan is usually |
| Through the availability of these financial | | | | deferred until six months after graduation. |
| arrangements more students have access to higher | | | | Repayment on these loans is guaranteed, so student |
| education and are able to fulfill their dreams. They are | | | | loan debt cannot be "discharged" even if you file for |
| used by both the middle class and lower income | | | | bankruptcy. Your payments will normally start six |
| families and are common at community colleges and | | | | months after leaving school (or attending less than |
| proprietary schools as well as among students in | | | | half-time) and is generally set at small payments on a |
| traditional baccalaureate programs, but the heaviest | | | | ten-year plan. |
| dependence on loans and the highest debt levels are | | | | Stafford loans come with fixed interest rates that |
| among students at private colleges. | | | | are lower than most other forms of consumer |
| It must be stressed and realized up front that | | | | financing, there are no application fees or credit |
| student loans are most definitely financial obligations | | | | checks, and repayment is postponed until you've left |
| that must be repaid. Federal student loans are the | | | | school or dropped below half-time enrollment Need a |
| most affordable loans available to students, with best | | | | Federal Stafford Loan. No matter which option you |
| interest rates and deferred payments (principal and | | | | choose, the general goal of repayment is to avoid |
| interest) until after graduation. This type of federal | | | | default, and to make the best possible use of |
| financial aid is based largely on the ability of the | | | | resources. You just need to make sure you |
| student to demonstrate financial need (except for | | | | understand the repayment requirements before you |
| the PLUS loan), and if you fall in the category of "not | | | | take on a loan. |