Source: Http:financeequityloans.comCategory: Student LoansArticle Body: Going To College Is An Expensive Investment. Most Families Cannot Afford The Luxury Of Giving Their Children The Advantage Of A College Education Without Going Into Debt And Without Taking Out A Student Loan. But What Is A Student To Do Once These Loans Are Subject To Payment?Sometimes These Loans Are Due While The Student Is Still Going To School. This Means The Student Will Have To Work And Only Go To School Part-time. This Hinders Both The Ability To Pay Back The Loan As Quick, Plus The Ability Of Graduating As Quick.Other Times The Loan Payments Are Due Once The Student Graduates From School. This Sounds Like An Ideal Situation. Yet, Some Students Do Not Find Jobs As Quick As They Want Or They Have To Take Lower Paying Jobs Than They Thought They Would Be Taking Upon Graduating. Both Of These Situations Make It Harder To Pay Back Those Loans.What Is A Student To Do? Here Are A Few Ideas On How One May Be Able To Pay Off Those Student Loans Quicker Or How They Can Get A Handle On Some Of That Financial Burden That Is Threatening Them:1. First, Realize You Are Not Alone. Knowing This Won't Actually Help You In Paying Off The Debt. But Once You Realize That You Are Not The Only Person In The World That Is Going Through This, You May Feel A Bit Better.2. Call The Officers In Which You Got The Loan In The First Place. Talk Over Your Problem. If You Can't Find A Job, Explain This. Maybe They Can Hold Off Payments For A Couple Of Months. If You Have A Lowering Paying Job Than You First Thought You Would Have, Maybe They Could Extend The Payment Deadline Or Lower Your Monthly Payments. It Doesn't Hurt To Ask And You Definitely Do Not Want To Totally Default On The Loan. Defaulting Will Ruin Your Credit.3. When It Comes To Student Loans There Are Different Ways In Which You Can Repay Them. Two Popular Repayment Choices That Are Beneficial To Those Just Coming Into The Marketplace Looking For Work Is The Graduated Repayment Schedule And The Income Sensitive Repayment Schedule. The Graduated Repayment Schedule Is Based On The Fact That Borrowers Should Be Making More As They Progress Through Their Careers. Thus, When A Student Begins Their New Career Their Payments Are Lower. But With Time They Slowly Increase Because Their Income Level Should Be Increasing. The Income Sensitive Repayment Schedule Is Similar, But More Flexible And A Bit More Expensive In The Long Run. The Borrower Applies Yearly Giving Proof Of Their Annual Income Levels. The Loan Payment For The Following Year Is Based On That Income. This Should Help The Borrower If The Income Is Less Than Hopes It Should Be Based On Their Education. These Are Two Options You May Consider When Taking Out Your Student Loan Or When Reapplying.4. You Could Just See If You Could Change The Date Of When The Loan Is Due. Maybe The Due Date Falls On The Same Day Of The Month As Your Rent And Other Expenses. Could A Week Later Make It Easier For You To Make The Payment Each Month?5. Do You Have More Than One Student Loan? Could You Consolidate These Into One Big Loan? If You Could, You May Actually Be Lowering The Amount You Have To Pay Each Month. Sure You May Pay More Interest In The Long Run. But It May Get You Out Of The Tight Squeeze You Are In Now.6. Should You Ever Apply Your Student Loan Payments To A Credit Card? Quite Possibly, It Can Help You To Build Your Credit Rating, If You Are Able To Pay This Credit Card Amount. But You Do Not Want To Do It Month After Month And You Don't Want To Use Your Credit Card For Every Purchase You Make. But If You Save That Credit Card For Those Emergency Months When Things Are Severely Tight And These Months Are Not Every Month, They Could Be A Way To Help.7. Ask Your Family For Help. You Probably Hate To Do This. You Want To Be An Adult And You Want To Make It On Your Own. But If Your Family Has The Resources, They Love You And They Generally Will Also Want To Help You. Make A Plan On How You Can Repay And Then Try To Treat This As You Would Any Regular Loan.The Cost Of An Education Is High. There Is No Getting Around It. Most Students Will Have To Apply For One Student Loan, If Not Several To Make It. Sometimes They Will Have To Come Up With Plans And Make Sacrifices When These Loans Are Subject To Payment.
