Powered by Blogger.

A Guide To Education Loans

Friday, September 6, 2013

Money plays an important role in the primary and higher education of a child. There are very few opportunities left for children to excel in life, without education. Parents should ensure that the education of their children is not affected due to lack of financial resources. In order to solve this problem, there are a number of education loans available for graduate as well as undergraduate students. These loans provide all financial support to the students, so that they are able to complete their education without any constraints. It is important for students in need of financial help to research and refer to a proper guide on education loans. It is observed that most students in the United States prefer federal education loans. The Federal Stafford loans and Federal Parent Plus loans are the most common ones, preferred by the students and parents.

Federal Stafford loans are granted directly to both graduate as well as undergraduate students, whereas Federal Parent Plus loans are granted to the parents of only undergraduate students. The most important feature of these loans is their low interest rate, which does not exceed 9%. The interest on Federal Stafford loans is paid by the federal government, including the interest during the grace period, before the beginning of repayment. On the other hand, the borrowers are responsible for the interest to be paid on Parent Plus loans. These federal loans come under the Federal Family Education Loan Program, of the U.S. government. Most federal loans require the students to be U.S. citizens, but the Parent Plus loans do not stress on this.

Education loans are a real boon for students with weak financial backgrounds. It is advisable that students and parents must take complete advantage of the education loans available and the various options and facilities available.

 

Partner

Most Reading

Popular Posts

Blog Archive