Higher Education Loans - Paves the Way for a Better Future

It is said that "failure is the stepping stone to success''. Education is an intrinsic part of your overall development, but for the same you have to incur expenses. it may be that you are not financially stable and you might not want to pursue higher studies. Do not let trivial matters like financial crunch to doom your career. It is for students like you that the loan market is offering higher education loans.

Study Loans

Study Loans 

In the present, it is impossible to alienate money from important matters. If you want something, then you are required to spend some. In the absence of finance, you will not be in a position to undertake education of your choice. Higher education loans are just designed for individuals like you. With the aid of these loans, you can take care of the various expenses such as paying admission fees, tuition fees, hostel accommodation, purchasing study materials, books, and computers and even to tackle personal expenses. Thus, it can be said that the loans present a one stop solution to all your educational needs.

Further, these loans are categorized in to secured and unsecured form. Secured form of the loans can be availed only by pledging collateral. if you do not own any asset, your parents or guardians can fill In for you by attaching their asset. This option of the loans is perfect to borrow a larger amount. On the other hand, unsecured form of the loans is just the opposite. There is no need to pledge any collateral. This option of the loans is ideal to borrow a limited amount.

The terms and condition for the loans is very lenient. First of all, you are not at all required to make repayment after availing the loans. Instead, you can complete your education and after getting a suitable job, you can start repaying. The interest rate levied too is comparatively low and depends a lot on your financial circumstances and repaying capability.

Higher education loans can be sourced easily from banks; financial institutions etc. if you want to obtain the Study Loans without facing too many complicacies and hassles, prefer to apply online. Always look for the loans that come with feasible terms and conditions so that you get the best of the education.

Source: https://educationloansinindia.wordpress.com/2016/08/25/higher-education-loans-paves-the-way-for-a-better-future/

Student Loan In India

Student Loan In India

Student Loan In India 

Income Sensitive Repayment: the Forgotten Student Loan Plan

The Student Loan talks a lot about the various repayment options available to student loan borrowers. With most of the new income-driven plans, there's usually a caveat that only federal direct loan borrowers are eligible for the plan, while Perkins and federal family education loan borrowers are not unless they jump through some hoops.

Educational Loan

Educational Loan 

There is a plan, however, that's only available to FFEL loan borrowers: income-sensitive repayment. While this plan has sort of fallen by the wayside with the creation of income-based repayment – FFEL loans are eligible for income-based repayment, but not the other income-driven plans – it could actually be the best plan out there, especially if you're a borrower who has a finely tuned budget and a payoff goal.

Here's why income-sensitive repayment might be one of our favorite repayment plans: The borrower can often pick his or her payment amount. That's right – you get to pick.

The regulations are fairly vague when it comes to income-sensitive repayment; this means that the loan holders have some wiggle room as to how they offer this plan to their borrowers. With that said, the Student Loan Ranger has found that most handle the plan in a similar fashion.

Let's go over some of the constants first. Regardless of your loan holder, the plan is based on the borrower's gross monthly income, not adjusted gross income like most other plans, from all sources. In contrast with the other income-driven repayment plans, income-sensitive repayment is never based on a spouse's income unless that spouse is a co-borrower on the loan. Borrowers applying for the plan must send in proof of their gross income in the form of tax returns, bank statements or pay stubs – most loan holders require the most recent months' worth. From there the payment will be calculated based on this income, to an extent.

Regulations require that borrowers applying for income-sensitive repayment pay at least the monthly interest accruing on the loan. If the payment is calculated lower than that, the borrower will either be placed on a reduced payment forbearance or be counseled that income-based repayment, with its limited interest subsidies, may be a more productive option.

Income-sensitive repayment can be used a total of five years and does not extend the term of the loan like the other income-driven plans do. One other aspect of this plan to be aware of is that regulations dictate that no single required payment amount may be more than three times another payment amount under the plan. If your chosen payment amount would result in such a situation, the loan holder may require you to increase the payment or use a type of forbearance.

Here's where things may vary depending on the loan holder, but most have the following protocols. Once the borrower has established his or her monthly gross income, he or she chooses a percentage of that income, generally between 4 and 25 percent, to be the required payment amount. A minimum payment of $5 is required.

So, for example, if your standard monthly payment is $500, which is too high for your budget, and your payment under the income-based repayment plan is $200, and your budget can handle a payment of $400, this may be the plan for you. Just pick the percentage of your gross income that comes closest to that $400 per month.

Note that there's no prepayment penalty for federal Educational Loan, so another strategy might be to take that $200 income-based repayment plan payment and pay extra every month. While that works for some consumers, others may not have the financial personality to maintain that type of discipline every month, and prefer that the higher payment be required.

Also, paying extra can result in a borrower's due date being pushed ahead, which can make things difficult for those using an automatic debit payment tool or service. Remember: If you choose an amount less than interest only, you're going to also have to agree to a forbearance or income-based repayment rather than income-sensitive repayment, which will likely result in capitalized interest, but that result is still better than not paying anything at all. The more you pay on your debt now, the less you'll pay in total interest later.

If you're trying to find a way to decrease or increase your monthly payment amount, and know exactly what you can afford, income-sensitive repayment may be the way to help you find that perfect payment fit.

Source: https://educationloansinindia.wordpress.com/2016/07/26/income-sensitive-repayment-the-forgotten-student-loan-plan-2/

Future of Engineering Better,Faster and Smaller

Study In India

Study In India 

Student Debt on Borrowed time

Study Loans In India

Study Loans In India

The Almost Graduate: Part III of an Adult Learner’s Back-to-School Journey

Two and a half years ago, I was contemplating going back to school for the first time in a long time.

Study loan

Study loan

After I started my education journey, I dished out advice at the midway point of my studies.

Today, I can say that I have successfully completed the Minneapolis Community & Technical College’s Screenwriting track in Cinema Studies.  I’m a step closer to my associate degree.

There’s still more to come for me. And you can start or redirect your own back-to-school journey.

I don’t have a career hinging on this degree.  This program was a passion project for me.  But while I was in it, especially at those busy times, I was more alert and tuned in to my job.  I made school and homework it work with my schedule because all of it was important to me.

You might want go back to school to start or move up in a career that requires a minimum degree or education.  The stories I write in my Cinema Studies classes have a beginning, middle and an end.  The same goes for planning your career.

Begin by assessing where you’re at, what you have, and where you want to go.  As I stated in my previous entry, there are opportunities for credit for prior learning, financial aid, and Adult Basic Education (ABE) classes.

When you’re in the middle of it, you’re bound to face everyday challenges as you work, study, and manage your family.  I kept a weekly schedule of what I needed to do, and when.

A “to-do” list helped me look out for things on the horizon. Marking them off as “complete” was a very good feeling to have, propelling me on to the next task.  I also included “me time” in order to decompress from the work and school week.

Most of my fellow college students were literally half my age! At school, I could have easily slipped into an “I don’t belong” mentality.  But we were all new students, all learning the same things.  Focusing on what we all had in common kept me going throughout.

Check out this Career wise comprehensive checklist to get a jump start your decision to return to school and the challenges you might face.

Keep your eye on the prize. What will it feel like when you’re finished?  And then, before you know it …

The end!  Congratulations!  You made it.  It was all worth it, wasn’t it?  For me, I made new friends and gained the respect of one of my instructors. He’s given me internship and freelance assignments and has asked me to be a tutor in the fall semester.  These are opportunities I never would have received had I not committed myself to the program.

Truth be told, I’m not quite done with my schooling.  After a few more cinema history classes next year I’ll earn a college certificate and an A.S. degree.  I’m piecing it together, but I’m making it happen.

Think about the next few years — where would you like to be in your career or Study loan? Start your own story today!

Source: https://educationloansinindia.wordpress.com/2016/07/23/the-almost-graduate-part-iii-of-an-adult-learners-back-to-school-journey/

Student loan : The facts you need to know

Study Loan

Study Loan