Source: Http:financeequityloans.comCategory: Student LoansArticle Body: Get A Job! This May Be What People Are Telling You To Do When It Comes To Paying For Your Upcoming Education. The Reality Is That College Tuition Is Increasing By Approximately 7 Percent Every Year. This Means That Some Students Could Wind Up Paying Around 40,000 Annually.Realistically, It Is More Than Difficult For Young Adults To Accumulate That Much Money In One Year. That Said, What Is The Probability That Most Students Will Be Able To Pay For Their Tuition With One Part Time Or Even Full Time Job? Sure, That Job Can Help, But You Will Still Need Some Loans.Since It Is Inevitable That You Will Have To Apply For Student Loans At Some Point, You May As Well Get The Best Deals Out There, Right? So, Let's Break Down Those Confusing Loans In A Simple Manner. There Are Two Types Of Loans That You Can Apply For: Private And Federally Funded Loans.In Every Case, A Federal Loan Is The Best Option. Of Course, You Will Have To Qualify For This Type Of Loan, Which Means You Have To Fill Out A FAFSA Application. This Application Will Determine How Much Money You Can Get From Good Old Uncle Sam. The Total Amount Is Calculated In A Number Of Ways.The Government Will Take Into Consideration The Amount Of Money That You Make, The Amount Of Money You Have Saved Up, The Amount Of Money That Your Parents Make, How Many Siblings You Have, What Assets Your Parents Currently Possess, And If You Are Eligible For Grants.If You Are Amongst The Lucky Ones, You Might Be Able To Wrangle Some Grants As Well. Grants Equal Free Money With No Strings Attaches, So Snag Them! If Not, Your Loan Amounts Will Be Split Into Two Categories Subsidized And Unsubsidized. The Difference Here Is Important, So Pay Attention.Subsidized Loans Are Those That You Won't Have To Pay Any Interest On As Long As You Are In School. Unsubsidized Loans Mean That You Will Accrue Interest Even While You Are In School. Obviously, You Can Save An Absolute Bundle In Interest With The Subsidized Loans, So Try To Stick To Them If At All Possible.Private Money Lenders Will Definite Finance Your College Education. While The Government Does It Because An Educated Populace Is Good Public Policy, Private Money Lenders Do It To Make Money. This Means Much Higher Costs And Loans That Can Hang Around Your Neck Like A Weight. If You Are Considering Private Money Student Loans, You Really Need To Give The Issue Some Thought. You Might Be Far Better Off Settling For A Couple Years At A Junior College First To Cut Down On Your Financial Needs.In Summary, Go With Government Student Loan Deals Where You Can. Grants Are Also A Great Source Of Financing, But Really Try To Avoid Private Money Wherever You Can. Remember, Ever Dollar You Avoid Borrowing For Your College Education Is About 10 You Do Not Have To Pay Back Later.
