Student Loans, Grants & Scholarships

Online Hard Money Loans, who is the right Lender?

2010-08-16T09:43:00.000-07:00

Author: Do Hard Money

Can we grade equally all the hard money lenders or not is the query. And the answer is quite simple and straightforward that we can’t grade all the hard money lenders equally. There are certain logical reasons behind this as we may divide them into different categories based upon their financial pool or the way they deal with their borrowers and their outlined terms, conditions and policies. At first place if we talk about their financial pool hard money lender could be a guy that has $100,000 who is willing to lend it or could be a company that is multimillion dollar company that has money to lend so hard money lenders.

There is another way in which we can categorize hard money lenders and that is based upon their outlined terms, conditions and policies. If hard money lenders won’t give you specifications about their term, conditions and policies, and say we just have to check the property out or we take things on case by case scenario stay away from that. You need an outline. You need to know what they are willing to do and what they are not willing to do. If they are giving answers like we will just have to see or we take that on a cases by case basis or it just depends on the neighborhood; such kind of answers mean that they are emotional hard money lenders. They are making decisions based upon emotion not making decisions based upon logic. That was one of the problems that we experienced almost a decade ago that hard money lenders were not outlined their terms and conditions and areas of expertise; one day they will be happy doing a property and the next day they would not be willing to lend on that and the question was why they are willing to lend on this property formerly and why not when we did a couple of months ago and the answer would be we just felt good about it at that time. Question would be why you don’t feel good about it now. Well we just don’t even though another property may have been a successful one. They are lending based upon emotions not based upon logic.
On the other hand there are logical hard money lenders who have clearly outlined terms, conditions and policies on their professionally maintained website. They clearly define the areas for which they serve. They openly publish all their expertise and areas of interest for hard money lending. They fall themselves in a defined category of Online Hard Money Loans. The list is open to the public, everybody sees it that there is not some way that they can change overnight, it’s widely available, it is widely accepted that you know the areas they are willing to serve.

So, Logical hard money lenders are going to lend based upon the value of the real estate and they are not going to be concerned about emotional issues. They are going to evaluate based upon established guidelines and also including their flow charts, and underwriting criteria that are put together and hard money lenders are going to lend based upon the value of the property not based upon the individual. So an emotional hard money lender is going to be worried about a variety of different things that how it relates to a potential owner or a borrower rather than how it relates to a property. So bottom line is that hard money lenders are not graded equal. There are emotional hard money lenders and there are logical hard money lenders and farther you can stay away from emotional hard money lenders the better off you are going to be and more successful you are going to be as a real estate investor.

Do Hard Money provide funding to Real Estate Investors across USA .Get online Hard Money Loans and Real Estate services from Do Hard Money: --http://dohardmoney.com/

Email: info@dohardmoney.com

Phone 800-284-0076

Fax 888-857-6067

Article Source: http://www.articlealley.com/article_1703848_19.html

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Consolidate Federal Student Loans

2010-04-06T14:11:00.000-07:00

Consolidate Federal Student Loans

Author: Jim Kesel

When the need for a student loan arises due to the peak of financial challenges in your college years, you can usually can find the funding you need. In many cases a student will have to apply for more than one student loan before reaching graduation. Even if you happen to acquire several student loans, there is no need to panic as graduation nears. Remember that you still have the option to consolidate those loans.

There are basically two major types of student loans. First is the federal student loan which is guaranteed by the US Government through the US Department of Education. They have implemented a Federal Student Aid program as a part of their campaign to provide equal education opportunity for all aspiring college students in the country. Federal student loans are not considered direct loans to the student from the US Government. However the loans are provided by the US Department of Education and a loan servicing institution, When you need to consolidate federal student loans you have the opportunity apply for single loan to accomplish the needed consolidation. One example of federal loans used to make a loan consolidation is a Stafford loan.

As an alternative you can use private sources consolidate your student loans. Private student loans, on the other hand, are administered by privately owned lending institution. Some of the most well known private lending partners are also the leading financial institutions such as Citibank, Chase and Sallie Mae. In general private student loan rates are higher than public sector loans. However there may be more benefits in terms of payment schedules, payment deferments and longer loan repayment schedules.

For those who have incurred a number of federal student loans, the problems of managing the loans can be a problem for some people. As a result many wise student borrowers may opt to consolidate federal student loans in order to better manage their finances and save money.

Once a student has decided to consolidate their federal student loans, there are conditions that must be before they can qualify. First is that they should have more than one federal student loan. Next is that students should be in good standing with each of their existing loan accounts. This means they are either in their six-month grace period or they have already made three monthly repayments for each of the existing loans.

Under the wing of a federal student loan, there are also distinct differences between a subsidized and unsubsidized federal student loan. Although they can still be merged into one loan account, iIt is important to know the type of loans you have before you apply to consolidate your federal student loans.

It is obviously very important for the student to do their research prior to applying to consolidate their student loans. Only then will the student be able to make an informed decision. In many cases a student loan consolidation will save you money and reduce the stress of student loan repayment. Federal student loan consolidation is a wise investment in the future.

Article Source: http://www.articlesbase.com/education-articles/consolidate-federal-student-loans-333013.html

About the Author

James Kesel, MS, is the publisher of the Student Loan Consolidation Advice website at http://www.student-loan-consolidation-advice.com. Providing important information on Student loans and student loan consolidation including how to consolidate federal student loans

Is Student Loan Consolidation on Private Loans Really An Option?

2010-04-05T14:07:00.000-07:00

Is Student Loan Consolidation on Private Loans Really An Option?

Author: Bill Miller

Private student loans are credit-based and have more attractive repayment terms as well as interest rates. It can really help in saving money every month unlike the Federal student loans. Private student loan consolidation is simply the process of refinancing and combining private student loans into a single debt only. It may result to a lower monthly loan payments thus will also lessen your worries about your multiple loans.

The very main essence of a private student loan consolidation is to lessen the monthly payment of students who have multiple loans. By getting quotes from various lenders, a student can have knowledge about how to get the best deal with all the prevailing market rates present nowadays. Furthermore, private student loan consolidation can result to an extended loan payment. This gives the student borrowers enough time to pay their loans with fewer burdens. These beneficial advantages offered by the private student loan consolidation are not possible if students have several loans to handle.

There are various private student loan consolidation companies which offer more benefits. One of these is the interest rate reduction which can result to lower loan monthly payments to think of. The options for the loan repayment procedures depend upon the qualifications being required by a particular lending company. Thus, it is also the work of the lending company to choose the best private student loan consolidation program suitable for a particular student loaner.

Indeed, private student loan consolidation brings various benefits. However, one should still be aware of some situations like the drawbacks of having a private student loan consolidated.

Student loans are indeed a very big help for students who are deeply in need of some financial aids. However, all students who have decided to avail of a particular student loan should bear in mind the responsibility in repaying the borrowed amount of money. In fact, there are so many ways on how to pay off student loans.

The very first thing to do is to develop a plan on how to pay off student loans. Second is to look for a summer jobs or internships to be able to save a lot of money and not waste your valuable time. Part-time jobs will also do to help pay a loan.

Also, take into consideration to consolidate current student loans to have lower interest rates. Furthermore, one should perform volunteer works like teaching, medical works or even military works to reduce at least somehow a debt. It would also be good to apply for some grants and scholarships while in school to lessen the burden.

And lastly, take good care of the credits. Late payments should be avoided to have a good credit score.

It is important to pay off private student loans as quickly as possible. Sometimes, early paying off of the loan will lessen the burden along with a particular student loan. To make paying off easy, one can start paying off first the non-subsidized loans for it has an obligatory interest. Also, if one has several loans already, paying off first the smallest loan would be much better.

Just always remember to always do the best in paying off student loans. Be a responsible student loaner!

Failing to pay off student loans can stick with you for decades. You can't go bankrupt on student loans so don't count on that as saving you down the road!

Article Source: http://www.articlesbase.com/debt-consolidation-articles/is-student-loan-consolidation-on-private-loans-really-an-option-554498.html

About the AuthorThe Student Loan Guru brings you this timely article on Private Student Loans. You can find more information on Student Loans and College resources at his student loan blog.

Student Loans Consolidation

2010-04-04T14:03:00.000-07:00

Student Loans Consolidation

Author: Poor Student Life

Student loans consolidation is when one loan is taken out to pay off many others. You basically combine all your private student loans into one manageable loan. By getting student loans consolidation, you may save money in several ways. If your credit rating has improved while you have been at university, you may be able to find a better interest rate, or lower your monthly repayments by extending the repayment period. Read my tips below on student loans consolidation to see if it’s the right thing for you to do. Student Loans Consolidation tip #1 Figure out all the monthly repayments you are currently paying, as well as the interest rates and whether they are variable or fixed. If your interest rates are variable, I would recommend asking for a fixed interest rate when you consolidate your student loan, so the rates won’t rise if rates increase. Student Loans Consolidation tip #2 Make sure your credit history is good by checking Experian. A free credit report can be requested once a year, and they do a 30 day free trial for new customers. If your credit rate is good, your interest rates should be a lot smaller! Easy! Student Loans Consolidation tip #3 Contact local banks to see if your total private student loan debt is over the minimum they require to consolidate, and compare them against each other. If you are looking to lower your monthly repayments, see how many years could be added on when consolidating, as you could end up paying more overall if you have a poor credit rating (but you shouldn’t). Student Loans Consolidation tip #4 Once your consolidated student loan is approved, you can save more money on interest by paying extra each month if it is possible. The additional amount will go directly toward your principal, decreasing the amount of interest that you'll owe, and the number of years that you will have to repay your consolidated student loan for. Decided that it’s the right thing for you to do? Get out there and and get your student loans consolidation now! Orginal article was published here.

Article Source: http://www.articlesbase.com/college-and-university-articles/student-loans-consolidation-1489489.html

About the Author

Why Student Loan Consolidation?

2010-04-03T14:01:00.000-07:00

Why Student Loan Consolidation?

Author: Student Consolidation

Why Student Loan Consolidation? Due to the rising cost of higher education, a large number of students have been forced to finance their education by getting student or education loans. While student loans are easy to get and come with the cheapest rates of interest, paying them off is not so easy for the vast majority of students who find themselves facing mountains of student loan debt.

People generally find it tough to pay back student loans because the loan installments are not calculated keeping in mind other types of student loan debt. Most students also accumulate a number of other loans like huge credit card bills and car loan, which also require financing upon graduation. The best way of getting out of this kind of debt trap is to go in for student loan consolidation. A student loan consolidation program can be a lifesaver for a student and can totally turnaround a negative student loan debt situation to one of good fortune.

There is no logical reason not to seek out student loan consolidation. By finding a student loan consolidation program that meets their personal student loan debt needs, students can avoid defaulting on payments which will leave a permanent red mark on life long credit history. This would make it difficult to get any kind of financing when necessary in the future. On the other hand, by undertaking student loan consolidation, there is the opportunity to easily reduce student loan debt or in some cases eliminate the student loan debt while obviously at the same time streamlining finances and budget. Most student loan consolidation programs also offer credit counseling, which will help you in managing your finances wisely in the future.

The student loan consolidation company pays off all of the student loan debt. This means that the student loan consolidation program payment will be the only payment obligation and can be paid off in easy monthly installments. Students have the option to pay back student loan consolidation charges over a period ten to thirty years. With student loan consolidation, student loan debt has been reduced or eliminated with future obligations becoming due at a time when more earning power is likely. To apply online for student loan consolidation where student loan debt lenders compete and where students can lower their monthly student loan debt payment up to 70 %, students visit: Studentdebtconsolidationprograms.com

Student loan consolidation programs are presented with the goal of reducing student loan debt with students in mind.

Article Source: http://www.articlesbase.com/finance-articles/why-student-loan-consolidation-211733.html

About the AuthorJay Rosenthal is the author of this article on Student debt consolidation. Find more information about Student Loan Debt here.

Student Loan Consolidation! Why?

2010-04-02T13:59:00.001-07:00

Student Loan Consolidation! Why?

Author: Student Loan Consolidation

Why Student Loan Consolidation? Due to the rising cost of higher education, a large number of students have been forced to finance their education by getting student or education loans. While student loans are easy to get and come with the cheapest rates of interest, paying them off is not so easy for the vast majority of students who find themselves facing mountains of student loan debt. People generally find it tough to pay back student loans because the loan installments are not calculated keeping in mind other types of student loan debt. Most students also accumulate a number of other loans like huge credit card bills and car loan, which also require financing upon graduation. The best way of getting out of this kind of debt trap is to go in for student loan consolidation. A student loan consolidation program can be a lifesaver for a student and can totally turnaround a negative student loan debt situation to one of good fortune. There is no logical reason not to seek out student loan consolidation. By finding a student loan consolidation program that meets their personal student loan debt needs, students can avoid defaulting on payments which will leave a permanent red mark on life long credit history. This would make it difficult to get any kind of financing when necessary in the future. On the other hand, by undertaking student loan consolidation, there is the opportunity to easily reduce student loan debt or in some cases eliminate the student loan debt while obviously at the same time streamlining finances and budget. Most student loan consolidation programs also offer credit counseling, which will help you in managing your finances wisely in the future. The student loan consolidation company pays off all of the student loan debt. This means that the student loan consolidation program payment will be the only payment obligation and can be paid off in easy monthly installments. Students have the option to pay back student loan consolidation charges over a period ten to thirty years. With student loan consolidation, student loan debt has been reduced or eliminated with future obligations becoming due at a time when more earning power is likely. To apply online for student loan consolidation where student loan debt lenders compete and where students can lower their monthly student loan debt payment up to 70 %, students visit: Studentdebtconsolidationprograms.com Student loan consolidation programs are presented with the goal of reducing student loan debt with students in mind.

Article Source: http://www.articlesbase.com/loans-articles/student-loan-consolidation-why-1809901.html

About the AuthorStudent Loan Consolidation http://www.studentloanconsolidationcalc.com

Differences between Stafford, Perkins, and PLUS Student Loans

2009-12-09T15:47:00.000-08:00

Differences between

Stafford, Perkins, and PLUS Student Loans

What is a Stafford student Loan?

The Stafford Loans program is a government based program that essentially guarantees lenders they will not lose money by loaning to students. The responsibility of repaying these Stafford Loans falls on the student, not their parents.

Stafford Loans are either subsidized or unsubsidized. Subsidized loans, available to students demonstrating certain levels of financial need, get a slightly better rate of interest, which the government actually pays until six months after graduation.

What is a Perkins student Loans?

Perkins Loans are also loans available through government programs, but are reserved for undergraduate students with the greatest of financial need. Their rates and terms are even more generous than the Stafford Loans.

Because the maximum loan amount on Perkins Loans is a fraction of the Stafford limits, it’s very common for a student to have both Perkins and subsidized Stafford Loans. It’s even possible that they’d have unsubsidized Stafford Loans on top of all those.

What is a PLUS Loan?

PLUS Loans are for parents of dependent undergraduate students who are enrolled in college as at least half-time students. Unlike the federal loans we have already discussed, this particular loan is taken in the parent’s name instead of the students.

Parent borrowers may be denied approval for PLUS loans, however, if one or both parents have an adverse credit history. Just like the different kinds of Stafford Loans, there are FFEL PLUS loans as well as direct plus loans.

With a direct PLUS program, parents borrow from the federal government through the college or university or through a private lending institution. The college or university participates in either one or the other type of PLUS program. The financial aid office can supply instructions to parents on how to apply.

PLUS Loans are the only federal government undergraduate loan program that parents are truly responsible for repaying (although independent graduate students also have access to this program). These loans are meant to absorb any remaining costs of education not met my other financial aid sources.

If the parent of a student is denied for a PLUS loan, then the student’s educational institution is authorized to automatically award the student as much as $4000 to $5000 (for undergraduate freshmen and sophomores or juniors and seniors, respectively) in the form of additional, unsubsidized Stafford Loan funds.

For many parents, these loans are helpful. Even if their son or daughter receives close to 100% of their financial aid, just a few thousand dollars in leftover costs can strain man families’ budgets to the breaking point.

PLUS Loans are the least generous of all federal loan programs, but are still well in the range of good debt. PLUS Loans currently have an annual interest rate ranging from 7.90% to 8.50%, and must begin being repaid within 60 days of their issuance.

How to Cancel Perkins Student Loans

2009-12-07T15:54:00.000-08:00

How to Cancel Perkins Student Loans

Compiled by: Cassandra George Sturges, MA, Ma, Psy.D

You automatically get a nine-month grace period with a Perkins Student Loans, but there may be ways to postpone repayment even longer. Under deferment, you can temporarily stop repayment of your Perkins Loan to prevent interest from accruing. Deferment rules for Federal Perkins Student Loans are somewhat more relaxed than for other federal student loans programs. If you're unable to find work on a full-time basis, deferring your Perkins Loans for up to three years may be possible.

If your meet the following conditions, you can discharge your Perkins Student loans:

If you enlist in certain specialties in the U.S. Armed forces, the Depart of Defense may repay a portion of your Perkins Loan. Up to 50% of your Perkins Loan can be forgiven provided that you serve in areas of hostilities or imminent danger.
If you become a full-time teacher at a designated elementary or secondary school in a low-income area up to 100 percent of your Perkins Loan can be forgiven.

If you become a full-time special education teacher or a teacher of children with diagnosed learning disabilities at an elementary school, a secondary school, or a nonprofit institution, up to 100 percent of your Perkins Loan can be forgiven.

If you perform early intervention services for the elderly on a full-time, professional basis, up to 100 percent of your Perkins Student Loans can be forgiven.
If you become a full-time teacher of math, science, languages, bilingual education, up to 100 percent of your Perkins's Student Loans can be forgiven.
If you serve as a full-time nurse or medical technician, up to 100 percent of your Perkin's Student loans can be forgiven.

If you become a full-time staff member in the education division of a Head Start Program, up to 100% of the Perkins Student Loan can be forgiven.

If you enlist in the VISTA Program or become a Peace Corps volunteer, up to 70% of your Perkins Student Loans can be forgiven.
In rare cases, if you go bankrupt, up to 100 percent of Perkins Student loans can be forgiven, provided that the applicable bankruptcy court rules that repayment would cause undue financial hardship.
If your school closes before you can complete the program in which you enrolled (and for which you received a Perkins Students Loan), 100 percent of the loan amount can be forgiven.
If you die or become permanently (and seriously) disabled, 100 percent of your Perkins Student Loans will be forgiven.

Student Loans Forgiveness Programs

2009-12-05T14:00:00.000-08:00

Student Loans Forgiveness Programs

By Cassandra George Sturges MA, MA, Psy.D

Student loan forgiveness programs reward your service with a certain agency, program, or community by paying off a significant portion of your student loan for every year of service. In fact, some of these programs can completely eliminate $50,000 or more in student loans in four to five years.

These loan forgiveness programs are typically an employee benefits in addition to your normal salary and benefits. Working with a student loans forgiveness program can be the equivalent of receiving $20,000 to $30,000 bonus each year for your first few years. Of Course, after your loan is paid off, you can leave your employment there and go work somewhere else.

List of Student Loans Forgiveness Programs

Programs for teachers

There are numerous federal and state loan forgiveness programs for credentialed teachers. Under the federal programs, teachers can get 100% of their Perkins Loans forgiven, as well as, up to $17, 500 in Stafford Loans. For a comprehensive listing of state and federal programs, visit the American Federation of Teachers website at www.aft.org/tools4teachers/loan-forgiveness.htm.

Programs for medical Professional

Substantial loan repayment programs are offered for individuals who choose a professional career in medicine, nursing, mental health, and related professions. The National Health Services Corp. http://nhsc.bhpr.hrsa.gov/ offers up to $50,000 in loan repayments for qualified medical professionals. The Health Resources and Services Administration at http://bhpr.hrsa.gov/ offers to pay up to 60% of qualified nurses' loan balances.

Military benefits

Many graduates assume that they've missed the boat on the military funding their college education because they enrolled after college was paid for. You may have missed the opportunity to use the Montgomery GI Bill, the U.S. Army, Navy, and Air Force all offer loan repayment as an enlistment bonus. In fact, the army and navy offer to repay up to $65,000 in student loans, and the air force offers up to $10,000. Check out http://www.military.com/ for easy-to-read info on this and the Montgomery GI Bill.

Peace Corps

People with a Perkins Loan get %15 of their loan forgiven for every year of service, up to 70% of their total Perkins Loan Balance. Join the Peace Corps, see the world and come home with less debt! You can find more info at http://www.peacecorps.gov/

AmeriCorps

If you want to volunteer in the United States, AmeriCorps employees provide the backbone for many nonprofit and social programs located in the United States. In addition to annual stipend of over $7,000, employees also receive loan forgiveness of & 4, 725 in return for 12 months of full time service. Partial Amounts are available for part-time employment. Visit http://www.americorps.org/ for more info.

This blog is dedicated to all people who want to pay for college without going into student loan debt, loan consolidation, alternatives to student loans, and policies and laws pertaining to student loans.

Student Loans Consolidation Options

2009-12-05T08:00:00.000-08:00

Student Loans Consolidation Options

By Cassandra George Sturges MA, MA, Psy. D

Imagine this: you are 18-years-old, you have never had a job, you have never lived on your own, purchased a car or even a motor bike, and you have no credit history to speak of. Don't worry our government is willing to let you borrow hundreds of thousands of dollars in student loans in order to pay for your college education.

When you graduate from college with your student loan debt hanging over your head, there are two primary things that you should do right away: consolidate your student loans, and select a repayment option.

In nutshell, when you consolidate your student loans you instead of making payments to individual student loan lenders, you will combine all of your student loans into one loan. So basically this will allow you to make one easy payment instead of paying multiple loans.

Student loan consolidations typically average together all your previous rates and then round them up to the nearest one eighth of a percent. This is called the weighted average technique and basically preserves the nature of your previous loans.

The only advantage to consolidating your student loans is to simplify the paper process if you have more than one student loan.

Student Loans Consolidation Pointers

These are some other points you should consider before consolidating your student loans:

Wouldn't it be great if you and your spouse could combine your student loan payments? Parent and student loans, as well as the loans of individual spouses, cannot be consolidated together into one loan.

Federal loan consolidations are free. Don't get suckered into paying someone to consolidate your loans.

Are you interested in a free .25% to 50% reduction in your student loan rate? Many lenders offer discounts for making your payment on time for 24 to 48 months, as well as for using automatic withdrawal to make your payments. Check with your lender for more details.

There are plenty of companies out there whose loan consolidations don't have anything to with the federal programs. Check directly with your lender about your loan consolidation options.

Herewith listed are some government websites that will help you consolidating your student loans:

http://www.loanconsolidation.ed.gov/

http://www.ed.gov/offices/OSFAP/DirectLoan/index.html

http://www.studentloanconsolidator.com/

http://www.ed.gov/offices/OSFAP/DCS/consolidation.html

http://studentaid.ed.gov/PORTALSWebApp/students/english/consolidation.jsp

https://www.dl.ed.gov/borrower/BorrowerWelcomePage.jsp

http://www.finaid.org/loans/consolidation.phtml

http://www.salliemae.com/after_graduation/manage_your_loans/consolidate_student_loans/federal/student_loan_consolidation.htm

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This blog is dedicated to all people who want to pay for college without going into student loan debt, loan consolidation, alternatives to student loans, and policies and laws pertaining to student loans.

Reduce Student Loan Debt

2009-12-04T18:07:00.000-08:00

Reduce Student Loan Debt

Cassandra George Sturges, MA, MA, Psy.D

If you are contemplating right now, this very moment, as to whether or not you should take out a college student loan, please read this article before making your decision.

I am over $150,000 in college student loan debt. I have 5 college degrees, an associate, a bachelor, 2 masters and a doctorate degree and there isn't a single day that goes by that I wonder whether or not I would have been better off being a crack-head-prostitute-stripper. I am always 2 steps from a nervous breakdown—even on my happiest days.

When I took out my student loans, I was under the mindset that I would be a millionaire by the time I was 35-years-old. I believed in myself, my dreams and my educational goals and there was never a single moment of doubt that my dreams would not come true. I am now a single mother in my mid-forties, with two teenage children who need to go to college within the next two years. I can't sleep most nights worrying about how they will go to college, in addition to my own student loan debt.

My philosophy was that I was investing in educating myself and that my life would be financially rewarding. I never imagined that my first job as a social worker would be $8.00 an hour. After I finished my first master's degree, I got another full-time social work position making $11.22 an hour, with medical benefits and 4 weeks paid vacation. I worked for the state earning about $40,000 a year as social worker and this still was not enough money for family.

When I took out my college student loans, I never thought about how much money I would earn helping people. I wanted to be social worker; I wanted to help delinquent adolescent girls because I was a troubled teenager myself. I wasn't thinking rationally, I was thinking emotionally and now I feel like I have made a huge mistake.

I wish that someone had sat me down and talked to me about how to reduce college student loan debt and how much certain jobs pay, no matter what school you graduate from. If your degree is from the University of Michigan, Yale, or Eastern Michigan University, the field of social work does not pay an affordable salary that would include rent, food, a car note, car insurance—and Lord forbid if you choose to have children.

I earn a decent wage now, but because I am mired in college student loan debt and child support doesn't begin to cover my children's basic needs, I feel like I live in abject poverty. I don't own a home. I can't afford to travel. I am deeply miserable and superficially successful. I spent the prime years of my young adult life working and going to school full-time. I didn't party or hang out. I feel like I am living in a college student loan hell. I often think about when will I be able to afford to enjoy my life—before I retire—ever? Pleased reduce your student loan debt by getting good grades to earn scholarships.

Think long and hard before you take out a college student loan, it can be one of the most detrimental long-term devastating decisions that you could make. I am not saying that you should not go to college. I am merely suggesting that taking out a college loan should be a desperate last option reserved for a career where you will earn enough money to pay it back and be able to afford to eat at the same time.

Institutional Grants versus Private Grants

2009-12-04T11:00:00.000-08:00

Institutional Grants versus Private Grants

Compiled by: Cassandra George Sturges MA, MA, Psy.D

A student's need for financial assistance for college is considered to be the cost of attending college minus the expected family contribution calculated by the" Free Application for Federal Student Aid" (FAFSA).

What is an Institutional Grant?

You might have heard terms like "college grant," "presidential grant," or "education award." Some colleges and universities offer grants from their institutional funds based on things other than financial need. If there is a grant available for musical talent and you excel in that area your college or university may have grant funding available for you. Go to your financial aid counselor and ask about opportunities for grants based on such things as talents, abilities, or religious affiliation.

For more grants visit the Free Guide to All U.S. Government Grants and Loans at: http://www.fedmoney.org/

Institutional grants might be available based on your financial need or they might be aimed at student with special talents or other qualifying factors. Some colleges and universities award as much as 60 percent or more of a student's financial need in institutional grant money.

When dealing with institutional grants, you should remember that you will have to apply for need-based aid each year (unlike scholarships, which have a set duration and amount of award.) In other words, if you get a certain grant for one academic year, you are not assured of receiving the same grant in subsequent years.

What is a Private Grant?

Unlike scholarships, which can be easily found on the Web or through your school, private grants can be very obscure and difficult to find.

Look for private grant opportunities from private companies as well as nonprofit organizations. For example, here are a few of the private grants available to students: the Princess Grace Dance Grant, The Double Take Sweepstakes, and the ASCAP Foundation Morton Gould Young Composer Award (just to name a few).

The Princess Grace Dance Grant

The Princess Grace Dance Grant is a national program whose goal is to find up and coming artists in dance, theater, and film, and then give them the assistance they need to realize their goals. Dance scholarships are available for students with at least a year of formal dance training, undergraduate instruction, or graduate work with a nonprofit organization.

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How to Apply for Financial Aid

2009-12-04T05:00:00.001-08:00

How to Apply for Financial Aid

By Cassandra George Sturges MA, MA, Psy.D

The acronym FAFSA stands of "Free Application for Federal Student Aid." The information you put on the FAFSA is entered into a formula call the Federal Need Analysis Methodology which measures the financial strength of your family unit.

There are three different formulas. One is for dependent students, and two are for independent students. There are two types of independent students who need financial aid. One type of independent student who needs financial aid is a student who has children and a spouse; or have only children. The other type of independent student who needs financial aid has a spouse and no children.

The central processing system (CPS) uses these formulas to calculate what is called and "expected family contribution" or (EFC) for each applicant. This is the amount of money that the federal government determines your family should pay toward your education.

The EFC formula has two parts: the parent's portion and the student's portion. Each portion is based on a formula that included both the family members' continuous income from the prior calendar year as well as their owned assets.

The parent's portion of the EFC is based on the parents' adjusted available income, which is a combination of available income and a portion of the parent's assets. First, the formula takes the parent's available income listed on the FAFSA (both taxed and untaxed income) and subtracts certain allowances for nondiscretionary expenses (such as taxes and minimal living expenses).

The amount that is subtracted from available income is determined according to a special table in the formula that considers the number of parents and college students in the household.

The FAFSA does not require you to include investments such as your principle place of residence, the value of life insurance policies, retirement plans, and pre-paid tuition plans, cash, savings, and checking account balances reported in other questions.

Next, the parents' assets are considered. Not all assets are counted in determining the adjusted available income. A portion is protected based on the age of the older parent, according to another table in the formula. If you would like to calculate your family contribution for the current school year visits this free websites:

http://www.finaid.org/calculators/finaidestimate.phtml

http://www.collegeanswer.com/paying/est_efc/efc_index.jsp.

The student's portion of the FAFSA, though oftentimes lower, is of substantial importance. The student's available income is determine by taking his or her total income (both taxed and untaxed), and then subtracting certain allowances. Some of the income protection allowances for figuring out the student's portion are different than those that are made for the parents.

Anything that a student earns up to a certain point is protected and is not counted toward the expected family contribution. Unlike the contribution calculation for the parents' portion, there is absolutely no protection for a student applicant's total assets (meaning cash, savings and checking account balances, investments, and business net worth that are not part of the student's occupation / regular income) are counted at 35 percent.

Once the parents portion and the student's portion of the EFC are determined, they are added together to get the total EFC for the student's upcoming academic year. That amount will be the same regardless of what institution you decide to attend.

To apply for financial aid go to this website: http://www.fafsa.ed.gov/FOTWWebApp/complete013.jsp

Federal Grants and State Grants for College

2009-12-04T05:00:00.000-08:00

Federal Grants and State Grants for College

Compiled by: Cassandra George Sturges MA, MA, Psy.D

There are two kinds of federal grants—the federal Pell grant and the federal Supplemental Educational Opportunity Grant (also referred to as the FSEOG). The only application needed for these two federal grants is the FAFSA.

Colleges and university do not have to decide who receives Pell grants and how much each student receives. Institutions that participate in federal student aid (FSA) programs must award Pell Grants for the U.S. Department of Education according to FSA formulas that determine which students are eligible and how much each student receives.

Federal Pell Grants

Federal Pell Grants go to students with the greatest financial need (meaning the lowest expected family contributions). Financial aid administrators award Pell grants based on the U.S. Department of Education's charts for a given academic year.

The Pell grant award is considered an entitlement, which means that in a given year, every student who qualifies for it can get it. Congress sets the levels of spending for this program.

To be eligible for federal aid programs, including Pell and FSEOG, students must make satisfactory academic progress. Every institution is required to have a policy outlining satisfactory academic progress that includes quality and quantity (number of credits taken and grades earned). The institution's policy may include the requirements of a probationary semester if the student does fall below one of the required levels.

Federal Supplemental Educational Opportunity Grant (FSEOG)

This grant supplements the Pell grant for a number of students. The FSEOG program is not an entitlement program, so not all Pell grant students will be able to get a FSEOG. Instead, FSEOG is considered a "campus-based" program, which means that a sum of money is given to each institution on an annual basis. The college or university is then able to award the money according to its own policy. Nevertheless, there are federal guidelines that each college institution is required to follow in awarding this money.

State Grants

Some States offer generous grant programs for residents who are attending, or who plan to attend, a college in their home state. Some state grants are even allowed to follow a student who chooses to attend college in a neighboring state, as long as the two states have reached a reciprocal agreement regarding their respective grant programs.

Some states only require that you complete the FAFSA to apply for one of their grants. However, other states may request an additional form or some other kind of supplemental information (such as a copy of the student's and parent's tax returns for the prior fiscal year) in order to determine a student's eligibility.

To find out about what state grants are available in your state and the application requirements, go online to the federal government's education website at http://www.ed.gov/ and search for EROD (The Education Resource Organizations Directory). EROD lists the name and address of every state's higher education agency, along with its telephone and fax numbers, Website, and email address.

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Who is Eligible for a Grant?

2009-12-03T12:51:00.000-08:00

Who is Eligible for a Grant?

By Cassandra George Sturges, MA, MA, Psy.D

The term grant and scholarship are used interchangeably because there isn't an exact definition that differentiates the two terms. For the most part, the term grant, scholarship and / or award are all considered to be grant assistance to professional who work in the financial aid field. Scholarships and grants financially equal because the bottom line is that someone wants to give you money to complete your education that you do not have to pay back. Student loans must be paid back six months after graduation.

Unlike scholarships grants are typically rewarded to students on a need basis. If you come from a low income family it will be much easier for you to be awarded a grant than a person from a high income family. You can receive a grant from the federal government, your state government, the college or university that you attend, or from various alternative private financial institutions and foundations.

Some students make the mistake of not filling for FAFSA because they assume that their income level is too high. Do not make this mistake because some financial organizations and foundations put more emphasis on awarding the grant to an academically strong candidate in a particular field than they do on helping out the applicant with the greatest amount of financial need.

For example, there is a shortage of male teachers at the elementary and secondary levels of education. There is a significant need for minority male teachers as well as; reading, math and science teachers. So if you are an African American male who plans to teach math there would be a plethora of educational grants available to assistance you because of your race, gender and field of study.

To apply for federal grants, you need to complete the FAFSA by your school's deadline. To apply for a state grant you must complete the requirements by your state deadline. Please pay close attention to these deadline dates for grants because if your application arrives late or incomplete you will automatically be disqualified.

The most important fact that you must understand about applying for a federal and state need-based grant is that the eligibility criteria is standardized across the board for everyone based on their expected family contributions and the college's cost of attendance.

No matter how bad you want or need a grant, no compassionate financial aid counselor can award you a grant based on how much they like you, or reject your application based on how much they may dislike you—your eligibility for a grant is based on your financial circumstances.

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This blog is dedicated to all people who want to pay for college without going into student loan debt and reduce, eliminate, and provide alternatives or change policies and laws pertaining to student loans.

Consolidate your Student Loans

2009-12-02T09:09:00.000-08:00

Consolidate your Student Loans

By Cassandra George Sturges MA, MA, Psy.D

Once you graduate from college you will have probably accumulated several student loans from various financial institutions. For most people it would be very difficult to manage all of the student loan payments from so many sources. The best thing for you to do is to consolidate your student loans into one big payment which is called loan consolidation.

The benefit of consolidating your student loans is that it will significantly lower your monthly payments. In addition, when you consolidate your student loans it will extend the duration of your student loan terms without penalties for paying off the debt sooner.

Another important factor about consolidating your student loans is that instead of having variable interest rates, consolidated student loan interest rates are fixed. In the past, consolidated student loan rates were variable meaning that the interest rates would increase from year to year, making it difficult for you to make future payments. Fixed rate interest consolidated loans payments remain the same regardless of the Federal Reserve rates.

Why you should consolidate your Student Loans

Did you know that interest rates on Consolidated Loans can never exceed 8.25 percent?

Did you know that by law participating lending institutions can't refuse to give you a consolidation loan based on how many or the variety of types of loans that you want to combine?

Did you know that a participating lending institution cannot reject your student loans based on your choice of school, whether or not you attended a minority college, trade school or Christian college?

Did you know that a participating lending institution cannot refuse to consolidate your student loans because of the durations of time that you request to pay back your student loans?

Another good reason to consolidate your student loans is that it may lower your payment interest rates than what you are currently paying on your various smaller loans. You should shop around for the best deal on interest rates to consolidate your student loans by checking your local banks and credit unions.

The student loan consolidation process is typically easy, but because I am not a very organized person it general, it was difficult for me to find all of my promissory notes, from so many schools and various semesters. Please keep up with all of your student loan promissory notes and place them in a special file arranged by dates, semesters, schools or whichever method is going to be easiest for you to remember ten years later.

For more information on consolidating your student loans call 1-800-577-7392 or visit the web as http://www.loanconsolidation.ed.gov/.

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Scholarships versus Student Loans

2009-12-01T20:41:00.000-08:00

Scholarships versus Student Loans

By Cassandra George Sturges MA, MA, Psy.D

When I was a college student it never crossed my mind to apply for scholarships because my grade point average fluctuated between a 2.8 and a 3.4 until graduate school. I was also the first person in my family to go to college, so I didn't understand the financial details and options for paying for college.

Now that I look back, I think that I did not believe that I was good enough or smart enough to apply for college scholarships. But now that I am doing research on the various types of scholarships so that my children are not required to take out student loans, I see that I did not need to have a perfect grade point average.

Applying for scholarships is a good way to eliminate the need for student loans. In your search for scholarships for college you will find that they are targeted to a particular population. Individual donors and scholarship foundations have a variety of eligibility requirements that focus on talents other than academic performance such as athletic ability, musical or artistic talent, social class, ethnicity, religious background, gender, life experiences, and or sexual orientation. There are two primary categories of scholarships those based on merit and those based on need.

Many people typically confuse the difference between a scholarship and a grant. In a nutshell, a scholarship is typically awarded for people who have special gifts and talents or unique socioeconomic circumstances, whereas most grants are based on a student's economic status.

Unlike student loans, you are not required to pay the money back. However, the typical college scholarship will include a laundry list of educational requirements that must be met and maintained before the scholarship money would be awarded. If for some reason you are unable to fulfill the eligibility requirements, you will be required to pay the scholarship money back.

Some employers provide college scholarships for their employee's children. Check your human resource department for opportunities. Scholarships are also available for children of veterans. You can visit the U.S. Department of Veterans Affairs at http://www.va.gov/.

Looking for a scholarship is a major undertaking that I somewhat looking forward to. These are some websites with excellent search engines for scholarships:

http://www.fastweb.com/

http://www.petersons.com/

http://www.collegeboard.com/

You should include the following items in your scholarship packet:

A resume

A well written cover letter

A College essay

A video or multimedia materials

Education is a great asset that doesn't need to be funded with student loans.

The Social Implications of Student Loans

2009-12-01T12:11:00.000-08:00

The Social Implications

of Student Loans

By Cassandra George Sturges MA, MA, Psy.D

What types of people are more likely to take out student loans? Answer: People who come from poor, working and middle class backgrounds who want to reach their full potential. Wealthy people do not have a need to take out student loans because they can afford to pay for a quality education. Pretty simple right?

What types of people who are more likely to work with underprivileged families, babies born with fetal alcohol syndrome, teenage mothers, poor performing students, people who suffer from mental illnesses, sick and dying patients, criminals, students with learning disabilities, people who are homeless and hungry, senior citizens who are not mobile, runaway teenagers, people with eating disorders, and people who are depressed and suicidal? A person who is most likely to help people under these circumstances is psychologically and socially able to relate to people who are going through difficult and hard times because of their own personal, family, and economic issues.

The person who is most likely to help people in these types of situations is a person who probably needed or need student loans to go to college. People who typically go into helping professions are people who want to give back to and nurture society's most precious, valuable and irreplaceable assets—human beings. Wealthy people typically invest in stocks, bonds, real estate, businesses and products—material things.

American Society doesn't care if you stop a person from committing suicide, help a mother to stop using crack-cocaine, help a homeless person find shelter, or teach a child with a learning disability how to read; but if you are able to flip a home, build a profitable company in a third world country or buy low and sell high-- you will be hailed as a valuable human being. If your business fails to earn a profit, you can file bankruptcy and the government will forgive and remove your debt; but if you graduate with a degree and can't afford to pay back your student loans because you chose a profession in a non-profit organization—you cannot file bankruptcy to have the government remove your student loan debt

Taking out student loans has given many people access to careers in teaching, social work, health care, and the legal justice system that would not have otherwise been able to afford college. The irony is that the jobs that help the most people in need pay the least amount of money.

Should financial aid officers be honest with students and tell them the truth about their future ability to pay back their student loans based on their chosen profession? Should we tell students who want to be teachers, social workers and nurses that when they add up their car note and insurance, rent / mortgage, utilities, food, and gas that they will financially struggle to pay back their student loans—unless they marry someone without student loans, who is wealthy or both?

Do we want a society where the only educated people are the rich and wealthy? Do we want people to base their career choices on their income potential and not their gifts, talents and interests? Do we want a society where people who graduate from college are so deeply indebted with student loans that they fail to reach their full potential as citizens, parents and consumers?

This blog is dedicated to all people who want to pay for college without going into student loan debt and reduce, eliminate, and provide alternatives or change policies and laws pertaining to student loans.

Alternatives to Student Loan Debt

2009-11-29T19:54:00.000-08:00

Alternatives to Student Loan Debt

Cassandra George Sturges, MA, MA, Psy.D

I am writing this for any person who is contemplating as to whether or not taking out a college student loan is a wise decision; looking back this is what I would have done instead of taking out student loans…

I would have volunteered or found any job in my field to determine if I was suited for the job. The field of social work is a save-the-world-fantasy-job, but after a few years you learn that you have no control over other people's destiny. Not only was the social work field low paying, everyday was pretty depressing dealing with people at such low-points in their lives. After seeing enough suffering, I had had enough. But the catch 22 is that once you get experience in a certain field; you become stuck because of your experience.

I would have interviewed at least 10 people at different points in the field that I was interested in. How a person will feel during an internship is not how they will feel 20 years later. Many college professors have never worked at any other real job than teaching for a long period of time to tell you the ins and outs of majoring in certain fields. You must explore your chosen profession for yourself. Do the leg work. It will save you thousands of dollars later.

Money matters. When you want to pay back your college student loan, but you can barely make ends meet—trust me you will wish that you had made another decision. Remember this—the more money you make; the more people that you will be able to help; the more lives that you can touch and change. When you can barely make it through the day and keep your own cable on—you're not helping anyone. Doing well inspires people; they want to emulate your success.

If you marry a rich person who can help with living expenses you must hope and pray that that person remains healthy throughout your life and that you don't get a divorce. But I don't think that it is wise to depend on someone else to help you with your college student loan debt. Plan to pay your college student loan debt back by yourself. Calculate your living expenses and what you expect to earn, minus $10,000. It's better to under estimate than over estimate.

I would have stayed home with my parents and worked three jobs, instead of living on my own working three jobs. All of my money went to paying bills and trying to survive. I could have worked for 3-5 years, saved my money and then gone to college. I don't regret my college education, I just regret taking out college student loans.

I would have gone to college part-time, taking one or two classes a semester that I could afford. Or maybe, I could have worked 2 full-time jobs for a year and saved my money, and the following year, I would have paid cash for my college classes full-time.

Additionally, I wish that I had explored scholarships. I was never a 4.0 student, but I had a decent enough GPA to seek college scholarships. Please investigate every scholarship possible before signing your life away with student loans.

I wish that I had majored in something other than liberal arts from my community college. I should have acquired a real skill that I could fall back on while paying my way through college, such as accounting. I don't have the stomach for the medical field but if you do, you can look into radiography or healthcare. Heating and cooling, computer technology and other fields would be good options also. Trust me; after you graduate from college no one will give a shit about Shakespeare or Marxism. Get a real skill that will put food on the table.

I could not join the military because of an injury to my left knee that prevents it from bending completely. But if you can join the military in order for them to help you pay for your college education I would look into this option.

This advice is free. I wish someone would have been honest with me; I would be a different person today. And if I had still chosen to take out college student loans, I would have known what to expect and this would have reduced some of my pain.