Source: Http:financeequityloans.comCategory: Student LoansArticle Body: When Thinking About Students, Usually Teenagers Or Early Twenties Spring To Mind, Although Now That We No Longer Live In The Age Of 'a Job For Life', Educational Needs Are Continually Changing, So More And More Students Can Be Of Any Age Now.This Article However Does Not Deal With The Needs Of The More Mature Student, But Concentrates On The Younger Age Group. It Also Tends To Concentrate On Students Based In The USA, As There Are A Number Of Federal Based Loans Available. In The UK, Students With Bad Credit Will Have To Contact Many Of The 'student-friendly' Private Organisations, And Be Dealt With According To Their Particular Credit History. But For Those Students In The UK With Bad Credit - Just Take Care When Approaching Some Of These Private Companies - We Have Seen Interest Rates As High As 48 APR, Which Will Soon Drain Your Resources Whatever Great Well-paid Post Educational Employment You Go For!Now, For A Youngster Of Course, Many Of You May Not Even Have A Credit History, Which Can Be As Frustrating For You As A Bad Credit History. It May Be Advisable For You To Have Some Bills Made Out In Your Name Rather Than Your Parents - Such As A Phone Bill - Which Is Paid Promptly, Or Perhaps A Small Loan From Your Bank, Which Is Repaid In Full In A Very Short Time Period, Far Quicker Than The Actual Life Of The Loan. In This Manner, You Will Start To Build Up Your Own Excellent Credit Score, Which Will Do You Much Good As You Progress Through To Your Chosen Career.There Are Three Main Types Of Student Loans Available To Students In The US, And We Will Now Go Over The Pros And Cons Of Each Of Them, Especially In Regard To Any Bad Credit History There May Be Surrounding Any Application.These Three Types Of Student Loans Are The Stafford Loan; The Federal Perkins Loan; And The Federal Plus Loans. All Three Are Offered In An Attempt To Encourage The Student To Get Stuck In To An Academic Advancement, Without Being Held Back By Financial Constraints.The Stafford Loan. This Is Probably The Most Well Known And Most Used Facility. The Most Interesting Thing About This Loan Is That There Are Two Types, The Subsidized (no Interest - That Is Paid By The Government) And The Unsubsidised Or Interest Bearing,. The Latter Is Only Offered To Students Who Need Certain Criteria For Financial Needs. You Have To Apply For A Loan At The Beginning Of Each Academic Year, And Is Disbursed Via Your College Or University You Attend. On Average, A Stafford Loan Is Around 2,500 And 5,000 Per Academic Year. The Repayment On Both Versions Of This Loan Start Six Months After The Student Ceased To Be Enrolled At Least Half Time At The Institution. In Cases Of Hardship When The Loan Repayments Are Due To Start, There Are Options For Deferment If Real Hardship Can Be Proven. The Federal Perkins Loan. This Low Interest Long Term Loan Is Aimed At Students With A Proven Financial Hardship. A Lot Less Of These Type Of Loans Are Provided Than The Stafford Loan, And Is Also Aimed At Helping Students Coming From A Poor Family Background, To Try And Bridge The Gap Between Academic Ability And Financial Support. These Loads Tend To Be Of A Higher Value (20,000 For Undergraduates, 40,000 For Graduates). Repayment N These Loans Start Around 90 Days After Graduation, Giving You Time To Settle Into Your New Career. They Are Commonly Spread Over Ten Years. As With The Stafford Loans, With Proven Financial Hardship, The Repayments Can Be Rescheduled. The Federal PLUS Loan. (Parent Loan For Undergraduate Loan). This Loan Is Aimed At Parents (biological And Adoptive) And Grandparents (or Legal Guardians) Who Wish To Assist Their Dependents Through Their Education. It Is A Low Interest Loan With Flexible Repayment Options. Although Anybody Can Apply, Unlike The Two Previous Loans, It Is Never Made To A Parent On Financial Need, And You Must Have A Good Credit Rating To Apply For It. Repayments Start Three Months Or So After Then Loan Is Disbursed. This Low Interest Loan Demands No Collateral, So Parents, Grandparents Or Legal Guardian Can Use Their Collateral For Other Financial Investments. What Ever Type Of Loan You Go For, Our Suggestion Is That You Look At Federal Based Loans First. You Are Looking At A Financial Investment In Your Dependant Child's Future, And You Should Make Sure That They Do Not Get Saddled With A Massive Loan With Massive Interest Rates That Will Cripple Their Fledgling Attempts At Building A Career In A Very Demanding World.
