Find and Take Advantage of Free Student Grant Loan Money, The scholarship application process is very similar to the college application process. First, you filter a large list of possible choices into a focused list that matches you. Then you create compelling applications that are supported by your achievements, essays, recommendations, and interviews. Here are some tips to help you create strong scholarship applications. and Government Loan Opportunities Available, You can Accept one of our "top picks" website to FREE Apply TODAY!

Is it possible to get a Student Loan without Credit Checks?

Paying their way through college has become increasingly difficult for students in the past few years. Credit Score requirements prevent most students from accessing private student loans without the help of collateral or a cosigner. Not being able to study the career one wants to pursue can be very frustrating, fortunately there are other solutions.

Think Ahead and Get Ready
As always, it is better if you think ahead and start preparing yourself for obtaining a student loan. To do so, it is good to start establishing a credit history by opening a savings and a checking account on a bank. What you need to do is prove yourself worthy of credit by showing the bank you can put aside at least a small amount of money every month.

Bank Accounts with Pre-agreed Student Loans
Some banks offer accounts with pre-agreed loans for students. Even if you do not qualify yet, get a regular account on one of those banks as you will be able to upgrade your account later and seize the benefits of having a pre-agreed loan or line of credit.

These special accounts offer this benefit without doing credit checks. If you wonder why no credit checks are carried out, the reason is that a credit check was performed when the account was opened. Since a lender has no records of your credit behavior, a credit check is mandatory. But the bank has a history of your financial transactions carried out with your accounts and thus does not need to pull your credit report.

Student Loans or Lines of Credit
These loans come in the form of regular loans or lines of credit. Lines of credit remain open as the lender retrieves money and returns it as long as a certain limit is not reached. However, the interest rate charged is variable and thus changes along with market conditions. Pre-agreed student loans on the other hand, come with fixed interest rate, a fixed amount and preset repayment program. When paid off, these loans can be renewed, but at this stage, the bank may require a credit check.

Not a Comprehensive Solution
Pre-agreed student loans are a great way to finance extra expenses during college season. The loan amount will not be enough to finance all your way through college. However, combined with federal student loans, these loans provide relief to cash flow difficulties and emergencies. And given that there are no credit check requirements, they really come in handy under difficult financial situations.

So if you are looking to finance your everyday expenses or some extra expenses like study material, a month of rent, groceries, a new computer, etc. these loans are the right option for you and you will not have to go through stressful loan application processes and credit checks.

Just make sure there are no stains on your financial relationship with the bank. Avoid late payments, bouncing checks and missing payments. Otherwise you will have to resort to other lenders that will definitely check your credit report before granting you a loan.

Mary Wise, a professional consultant at with twenty years in the financial field, prevents consumers from falling into the hands of fraudulent lenders.
By Mary Wise

Monday, November 26, 2012

Student Loans Simple Options to Avoid Defaulting

Student Loans: Simple Options to Avoid Defaulting

College is a major undertaking for high school graduates, not only because of the new responsibilities studying away from home can present, but the financial pressures that come with managing life on campus. Paying tuition fees is one thing, with a student loan simply handed over to the college administration office, but managing living expenses too.
In most cases, mistakes are made before the reality of managing finances finally sets in. But unless the trick is learned quickly, a student can simple set him or herself up for some serious financial pressure. Knowing how to manage college debts is hugely important, and the good news is that there are plenty of options available.
While student loan consolidation programs are hugely beneficial in avoiding defaulting on loan repayments, there are also other ways to ensure that the debt is repaid.
How Consolidation Works
The basic concept of loan consolidation is that different individual debts are bought out by one loan with one lower interest rate, thus lowering the size of the monthly repayments. Student loans can build up over the time a student spends in college, so pulling them together into one debt is a positive thing.
The biggest problem with having four or five individual debts is that each has an interest rate of their own. These can vary and so the repayments on the five loans can add up. Replacing these rates with one low rate lowers the interest paid dramatically. But managing college debt effectively also means extending the term of the loan, thus slashing the overall repayments.
However, it is important to note that by extending the term, the amount of interest paid over the lifetime of the loan increases. It is a small note, but the overriding fact is that student loan consolidation programs are designed to lower the monthly burden - and that is exactly what they do.
Consider Federal Employment Programs
Instead of seeking consolidation loans, it is possible to work back a portion of the debt from student loans. The Federal Employment Repayment Office of Personnel Management provides information on how to access this method or loan repayment, and what conditions exist.
Simply explained, the program sees federal departments hire recent graduates and, in return, pay a portion of their college debt each year. Currently, a limit of $10,000 can be repaid by the department in one year, and a maximum of $60,000 in total. That means that a graduate can be hired for a maximum of six years on this basis, though student must sign a three-year work agreement at least.
Managing college debt in this way has many benefits. Not only are repayments covered by the new employer, but the new graduate gets valuable work experience too. In this way, it holds an advantage over a student loan consolidation program.
Loan Forgiveness Programs
Another method of clearing the existing student loan debt through work is to sign up to the Teacher Loan Forgiveness Program. This is designed to benefit the education system, with trained teachers sent to low income schools, whether elementary or high schools. In return, the government will forgive a maximum of either $5,000 or $17,500 from the loan balance.
The lower sum is forgiven from the loan balance for teachers who taught for five consecutive full academic years in a qualifying school, while the larger sum is secured if the teacher specialized in teaching mathematics or science, or if they provided special education services for students with disabilities.
This is obviously a highly effective way of managing college debt, especially for long-standing graduates who are too long out of school to qualify to join a student loan consolidation program.
Hilary Bowman is a Financial Expert who specializes in Loans for People with No Credit and Bad Credit Loans
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Sunday, July 15, 2012

Student Loan Forgiveness Programme - Stafford

Student Loan Forgiveness Programme - Stafford

Stafford Loan Forgiveness is a student loan forgiveness program for people who meet certain requirements. If you don't qualify for federal loan forgiveness, consolidating your student loans can help ease your repayment. Consolidation can stretch the repayment term from 10 years to a maximum of 30 years, making the monthly impact on your cash flow much lower. Read more about Student Loan Consolidation.

Circumstances for Federal Stafford Loan Forgiveness

Under certain circumstances, the federal government will cancel all or part of an educational loan. This practice is called "loan forgiveness". To qualify for Federal loan forgiveness, you must:
  • Perform volunteer work
  • qualify for public service loan forgiveness
  • Perform military service
  • Teach or practice medicine in certain types of communities
  • Meet other criteria specified by the forgiveness program
Stafford Loan Forgiveness for Volunteer Work

These volunteer organizations offer federal Stafford loan forgiveness:

AmeriCorps: Serve for 12 months and receive up to $7,400 in stipends plus $4,725 to be used towards your loan. Call 1-800-942-2677.

Peace Corps: Volunteers may apply for deferment of Stafford, Perkins and consolidation loans and partial cancellation of Perkins Loans (15% for each year of service). Volunteers make a real difference in the lives of real people with two years of service in more than 70 developing countries. Contact the Peace Corps at 1111 20th St., NW, Washington, DC 20526 or call 1-800-424-8580 or 1-202-692-1845.

Volunteers in Service to America (VISTA): Volunteer with private, non-profit groups that help eradicate hunger, homelessness, poverty and illiteracy. Provide 1700 hours of service and receive $4725. Call 1-800-942-2677 or 1-202-606-5000.

Military Stafford Loan Forgiveness

Students who are in the Army National Guard may be eligible for their Student Loan Repayment Program, which offers up to $10,000. (Note, the military and veterans' associations provide many scholarships and tuition assistance programs. See the section on Military Aid for details.) This practice is comparable for federal Stafford loan forgiveness.

Teaching Stafford Loan Forgiveness

Students who become full-time teachers in an elementary or secondary school that serves students from low-income families can have a portion of their Perkins Loan forgiven under The National Defense Education Act. This program forgives 15% of your loan for the first and second years of teaching service, 20% for the third and fourth and 30% for the fifth. Contact your school district's administration to see which schools are eligible for federal loan forgiveness.

Students who majored in education and teach in Mississippi may be eligible for the William Winter Teacher Scholar Loan. This program forgives one year of your loan in exchange for one year of service (it forgives two years of your loan if you teach in a shortage area). Contact the Mississippi Office of State Student Financial Aid, 3825 Ridgewood Rd., Jackson, MS 39211-6453; 1-601-982-6663.

Circumstances and Conditions for Loan Forgiveness

If you have taken out a loan to help pay for your education, all or part of it may be cancelled for several reasons. You may qualify for total or partial cancellation if:

  • The school closed within 90 days of your enrollment and they were unable to finish their program of study.
  • The school did not properly qualify your status before they began studies.
  • You did not receive a refund that was due to you.
  • Your signature was forged.
  • The school did not properly evaluate your ability to benefit from the coursework before beginning studies.
  • You become totally and permanently disabled.
  • If you or the dependent for whom the loan was borrowed, dies.
  • Your loan is discharged due to bankruptcy. (Typically, student loans cannot be discharged in a bankruptcy.) Consult your legal counsel regarding your particular situation.
Federal Stafford loan forgiveness cannot take place solely because you believe that the school your child attended did at least one of the following:
  • Provided poor training, had unqualified instructors, or inadequate equipment
  • Did not provide job placement or other services that it promised; or
  • Engaged in fraudulent activities (other than falsely certifying the loan)
  • If you believe you are eligible for loan forgiveness, contact the holder of your loan.
Consider Federal Student Consolidation

Consolidating your student loans can help to ease the repayment of the loan. Consolidation can stretch the repayment term from 10 years to a maximum of 30 years, making the monthly impact on your cash flow much lower. Consolidate your Student Loans

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Friday, July 13, 2012

List of documents required for the Education Loans

List of documents required for the Education Loans

Declaration/Affidavit confirming that no loan has been availed from other Bank/Institution
  • Completely filled Application Form with Photographs.
  • Letter of admission from the Institute
  • Letter from the Institute stating cost break up of the program (term-wise, year-wise)
  • Marksheets from SSC onwards till the latest examination passed
  • KYC Documents for the Applicant & Co-applicant (Residence Proof , ID Proof , Signature Verfication Proof , Age proof )
  • Income Documents of the Co-applicant ( Pay Slips / ITR copy etc )
  • Declaration/Affidavit confirming that no loan has been availed from other Bank/Institution
For studies abroad – In addition to the above list of documents – Pls Provide :
  • Letter from the Head Of Department ( University)
  • Visa approval papers
  • Travel papers
  • GMAT/GRE/SAT score

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Monday, July 9, 2012

Loans For unemployed Students

Loans For unemployed Students

Educating in high level courses is in fact extremely knotty for those students who are going for regular courses but to pay for their educational expenses, such students do not have enough money. Under this kind of situation, students do not need to be worried while they can depend on the loans for unemployed students which are specially crafted to assist the students to make their dream come true. By taking the help of this loan they can meet their expenses right in possible time. Once students take help of this finance, they do not need to do part-time job while they can concentrate on their target.

Loans for unemployed students are available in unsecured form offered to the borrowers without the demand of collateral and other any kind of security. Under these loans student borrowers can avail amount varying from $1000 to $25000 as per their requirements and fiscal capability. This amount can be given for the limited time period of 1-10 years from the approval date. For this reason, you have enough time to reimburse the amount on time. The interest rates can be somewhat higher but it can be negotiable by systematic research so you don't need to fret regarding it.

With the approved loan amount student borrowers can carry out their miscellaneous needs without having restraint of the lender. The borrowed amount can be used for purchasing new books, paying off professional course fees, paying college or school fees, paying examination fees, traveling expenses and debt consolidation and many more. As long as student borrower is suffering from bad credit complications in their life, they can also apply for these finances and get hold of rapid money without any hassle. After applying online the cash will directly transfer into the bank account of the borrower. As a result, being student if you even come across yourself in need of loan amount you can successfully apply for loans for unemployed students and do away with you fiscal catastrophes without any restriction. Your higher study will not be restricted more in this day and age. Loans for unemployed students are crafted to assist the powerless and helpless students in their absence of money. All the education expenses will be eliminated by using these loans.

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