Govt will set up fund to guarantee student loans

New Delhi: The government will soon set up a fund that will provide surety to banks against loans given to students for higher education.

Called the higher education credit guarantee fund, it is likely to improve the credit flow to needy and meritorious students.

The fund will have a corpus of Rs.3,500 crore but will start operations with Rs.500 crore in this fiscal year. A notification to this effect shall be made next month, said two government officials who did not want to be named.

“There is a lot of delay in setting up of the fund but finally it’s going to be established in next few weeks. The human resource development (HRD) and the finance ministries have finished the homework,” the first government official said.

Both ministries believe that education loans, a priority sector, have been a sticky point for both banks and students. While students complain of reluctant banks, banks talk about the risky nature of such loans. The credit guarantee fund is expected to take care of the banks’ concern.

“It will guarantee up to 75% of the education loan amount. Successive finance ministers have spoken about handholding this sector and credit guarantee to banks will improve the confidence of banks and help needy and meritorious students get loans,” the official said, adding that less than 10% of students pursuing higher education have availed of study loans.

The fund will provide guarantees to unsecured education loans of up to Rs.7,50,000. Banks will deposit 1% of every student loan amount in this fund.

The first official said that after the moratorium period—one year after the end of studies or six months after getting a job, whichever is earlier—banks may have to give 15-18 months to the student borrower.

If, after this lock-in period, the student does not start repayment, then 50% of the credit amount will be given at one go to the bank. The remaining 25% will be paid after a certain period of time, during which the concerned bank may initiate legal action against the borrower.

As of February 2015, banks had a total outstanding ofRs.59,256 crore as education loans, compared to Rs.57,129 crore a year ago, according to data with the Reserve Bank of India. The first official cited earlier said the loan portfolio growth is not very encouraging.

The official said the HRD ministry will be the key driver of the fund. Earlier, the finance ministry had contended that such funds should be administered by it since bank loans are tied up with the scheme. The plan to start such a fund was first mooted in 2012 by then finance minister Pranab Mukherjee.

“We have told the HRD ministry that they should take over the education fund since they understand the requirements of students better,” said a finance ministry official, who did not wish to be identified.

K. Srinivasan, convenor of the Educational Loan Task Force, a Chennai-based organization working in the field of education loans, said the study loan portfolio currently is too small and it can easily double if banks become supportive.

He said that only around 2.6 million students have opted for student loans in India and that this number can go up if the credit guarantee fund is set up soon. India has around 30 million students in higher educational institutions.

Source : http://www.livemint.com/Politics/XO6qgKlGg6pKpcpDOlk2fO/Govt-will-set-up-fund-to-guarantee-student-loans.html

Education loan for MBA - Ask 4 Questions to Avoid Being Duped by a Student Loan Service

The Student Loan Ranger has discussed before the so-called "debt relief" companies that target student loan borrowers. Due to the volume of questions we've been receiving on this topic, however, we thought it might be worth revisiting.

What most of these emails have in common is the subject line, which usually reads, "Is this a scam?" While we can't opine on individual companies, we can try to give you some key questions to ask to try and evaluate these organizations yourself.

1. What is the fee? Let's be clear – just because an organization charges a fee to assist borrowers with their student loans doesn't make them a scam. It's how transparent the fees are and how clearly they explain what you will get for that fee that's important.

The Student Loan Ranger has seen too many borrowers who thought they were making payments to their loan every month of, say, $39, only to find out that the company they had worked with simply put the loan in forbearance, meaning no payments were due at all.

The $39 was a "monthly fee" to keep the loan in forbearance. In reality, eligible borrowers can obtain forbearance for free from their federal loan holder, often with a phone call, for up to 12 months at a time and no fee is charged.

Others have paid $600-$2,500 to "get their loans out of default and on a zero-dollar payment plan," only to have the company facilitate a federal consolidation with another forbearance – options the borrowers could have done themselves with maybe two phone calls and an online application, for free.

The borrowers haven't been put on a payment plan at all, but given a temporary postponement, which will actually likely increase the balance.

2. What will they be doing for that fee exactly? The bottom line is that many of these services, transparent or not, are charging for "document processing" services. You can usually find language to that effect in the fine print at the bottom of the Web page or agreement.

If you want to pay someone to fill out an application for you, that's your prerogative. Just make sure you know exactly what is being promised for that fee you're paying, and that the fee is reasonable for the work being performed.

3. Can they get you the "Obama Student Loan Forgiveness?" OK, this one's a trick question. There is no such thing as the Obama Student Loan Forgiveness Program, but this phrase seems to pop up in every ad we've seen for not-so-transparent companies. So if they tell you yes, they absolutely can get you that program, it might be time to move along.

Any legitimate student loan counselor will be quick to explain that such a program does not exist, but be able to explain in detail the eligibility requirements for those programs, such as Public Service Loan Forgiveness and income-based repayment, that do exist.

4. Are they asking for your National Student Loan Data System PIN or FSA ID? This one is a bit backward as it's a question they'd ask you, not the other way around – but it's still a big warning sign that this organization may not have your best interests at heart.

The U.S. Department of Education takes privacy and information security very seriously and has made it clear that only certain entities are allowed access to student loan information. If the organization you are working with needs your full loan info, they will teach you how to access it yourself rather than risking violation and asking for the PIN, password or FSA ID.

A similar red flag is when they request you fill out a power of attorney to give them permission to act on your behalf with your loan servicer. While it is expected that they may need written permission to allow your loan holder to speak with them about your student loans, some entities are using these power of attorney forms to change the address on the borrower's account to their own, ensuring the borrower is kept in the dark as to their loan status.

Never allow an organization to do this. If the loan should go past due or default, you would still be the one to suffer the consequences, even if someone else was "managing" your account.

The Student Loan Ranger has said it before: There's not a person or entity on the planet that can get a borrower access to a federal benefit or lowered payment on their federal loan that they can't get for themselves, for free, directly from their loan holder. There are also plenty of free services available to Education loan for MBA borrowers who have questions or may be struggling.

And remember: If something sounds too good to be true, it probably is.

Source: (https://educationloan.quora.com/Education-loan-for-MBA-Ask-4-Questions-to-Avoid-Being-Duped-by-a-Student-Loan-Service)

Saying 'I Do' Could Affect Your Student Debt

For richer, for poorer.

For centuries, couples have said this – or a variation thereof – on their wedding days. However, student loans are one thing prospective spouses haven't been dealing with for centuries, and this subject seems to be giving a lot of them cold feet nowadays.

Wedding season is traditionally the summer; however, the Student Loan Ranger has recently received many questions from borrowers about the relationship between marriage and student loans. Since our sacred vow is to help any way we can, we'll answer a couple of them here.

Note: These are real questions sent to the Student Loan Ranger, though the text has been edited for grammar and clarity.

Q: My son married a young lady with over $200,000 in student loan debt. Yes, you read it correctly. If something were to happen to her, is he responsible for her debt?

A: This is the biggest concern we hear from borrowers. After all, marrying someone means you accept his or her faults and quirks – but it doesn't necessarily mean you want to accept his or her six-digit loan balance as well.

The good news is that all federal student loans have protections in place should something unfortunate happen to the borrower, such as an accident that impairs his or her ability to earn income or results in death. You certainly don't want to have to take advantage of these loan discharges, but it's reassuring to know they're there if you need them.

With private student loans, things get trickier. Many of these do not come with death discharges, and some lenders have come after the borrower's family for payment in the past – though this is not always the case.

Note that in many cases, the amounts discharged due to death or disability is taxed as income, which could cause the borrower or estate to owe funds to the IRS.

Whether a lender comes after you for your spouse's loans will depend on that lender and that loan. In short, this is another good reason to read private loan paperwork thoroughly before signing it. If you want to protect yourself, obtaining life insurance for the borrower that covers his or her debts may make sense for you.

Of course, the advice above applies to any individual debt a spouse might bring into a marriage. Should you cosign a new loan with your husband or wife – for instance, to help him or her return to school – you would be a co-borrower for this debt and responsible were it not repaid.

Q: I'm 62 years old and in December will receive my first Social Security check. I am also receiving a small pension check.

I am considering marrying someone who has a deferment on his student loan, whose principal owed is about $65,000.

I am requiring a prenuptial agreement setting forth that I accept no responsibility of the student loan.

Under those conditions, is it correct to assume that, even if I marry this person, the federal government cannot tap into Social Security and pension benefits paid directly to me?

A: One of the consequences of federal student loan default is the government gaining the ability to garnish your wages and seize any federal payments you receive – including Social Security – to cover what you owe. This penalty could dramatically affect your life as you get older and potentially move to a fixed income, so it's no wonder this borrower is concerned about it.

When a federal student loan defaults, the borrower becomes responsible for paying its full balance immediately. Failing to do so can eventually result in the consequences mentioned above, among others. However, it does not result in the government gaining the right to go after a borrower's spouse for the amount the borrower owes.

You would have to live with the default in other ways. For instance, if you wish to buy a house with your husband or wife, you may not be able to apply for the loan together, due to the damage a default causes to credit score. They could garnish your spouse's income and tax refund, which could affect you financially as well. You may also experience the collection calls and general stress of the situation, courtesy of your spouse.

Ultimately, your best bet may be to talk about your Educational loan with your spouse before you tie the knot to know what you're getting into. After all, communication is key to a successful marriage – whether you're richer or poorer.

Source: (https://educationloansinindia.wordpress.com/2015/12/26/saying-i-do-could-affect-your-student-debt/)

Educational loans - 3 Times College Closings Can Affect Student Loan Repayments

By now, you've probably heard the news about the closing and recent bankruptcy filing announcement of Corinthian Colleges, one of the largest for-profit higher education organizations in the U.S. At its peak, the organization enrolled almost 80,000 students per year.

In April, the organization announced the immediate closing of its remaining 26 campuses, affecting nearly 16,000 students.

The coverage of these events, especially those that focused on the affected students' loan debts, left many consumers confused about their responsibilities if their college should close. While the Corinthian situation is unique, the majority of the time you can expect to encounter one of the the following scenarios when it comes to student loans and college closings.

My School Closed While I Was Attending

While most school closings are planned months, if not years, in advance, there have been situations where schools have closed suddenly with little if any notice to affected students. If you are attending or have recently attended a school that closes, you may be eligible to have your federal student loans discharged. To be eligible for this discharge, a borrower must meet all of the following criteria.

You must have been enrolled in the school within 120 days of the school closing

You must not have completed the course work required to receive the credential

You must not be completing a comparable "teach-out" or transfer program at another institution

If you have federal student loans and meet these criteria, you can request a loan discharge application from your loan holder. While there is no time limit as to when a borrower must apply for this discharge, if the school closed some time ago, it may be difficult for the borrower to prove they met the criteria for discharge, particularly proving that they were enrolled within that 120-day window.

If your school closes, it's always best to apply for the discharge right away, preferably before you start receiving bills for the loans.

My School Closed Before I Could Receive My Degree or Certificate

If you weren't enrolled at the school within that 120-day window, or did complete the course work required to receive the credential, even if you didn't receive the actual diploma, then in most cases you are still required to repay your student loans.

If you feel that the school misrepresented their courses or outcomes in some way, or the close date being used doesn't accurately reflect when the school ceased operations, federal student loan regulations do allow the Department of Education to make exceptions in some closed school situations.

I Completed My Degree or Certificate, but the School closed because it was Committing Fraud

Some Corinthian alumni who are ineligible for a closed school discharge are pressuring the Department of Education to relieve them of their debt under a little-known regulation, sometimes called the "defense to repayment" rule that exists under the direct loan program regulations.

This rule allows a borrower to have their loan discharged if it can be shown that the school did or claimed something that potentially violates state law. As far as the Student Loan Ranger is aware, this rule has yet to be enforced in the Corinthian or any other direct loan dispute.

In most cases, if a student had a dispute with the school, he or she would pursue action against the school, and use whatever relief received to pay off any loans. While we wait to see how the Department of Education will handle these claims for borrowers with direct loans, those with private or other types of federal loans that don't qualify for a closed school discharge may have to do just that to have any chance of being let off the hook for their loans.

I Completed My Degree or Certificate, the School Probably Wasn’t Fraudulent, but I Didn’t Learn Anything Useful

The Student Loan Ranger regrets to inform you that not liking the school, not being able to find a job in your field or feeling like the quality of the education received is not what it could have been are generally not reasons to have your federal student loan discharged. The only exceptions are if the school misrepresents itself or the outcomes of the students who attend these institutions.

What about Private Loans?

Private loans are tricky. There are generally no discharge options available, even in closed school situations. The Corinthian case is unique in that part of what the organization was cited for was the alleged predatory private loans the schools were offering students.

In an unprecedented event, the Consumer Financial Protection Bureau announced a settlement offer that would result in at least a 40 percent reduction in debt for these private loan borrowers. There has been no discussion of any type of relief being provided for those who took private loans from other sources.

Schools closing, especially without notice, are thankfully a rare occurrence. Most schools show signs of "illness" well before the event is announced, so doing your homework before choosing a school will increase your chances of never having to worry about dealing with debt, no degree and a locked, empty building where your college used to be.

 If that does happen to you, your Educational loans holder, regardless of what type of loan it is, can help you apply for any relief that may be available.

Source: (https://educationloan.quora.com/Educational-loans-3-Times-College-Closings-Can-Affect-Student-Loan-Repayments)

Student loans in India - Know How to Resolve Student Loan Disputes

In federal fiscal year 2014, the Consumer Financial Protection Bureau received more than 5,300 complaints from consumers about their private student loans. The Department of Education ombudsman handled approximately 7,800 ​federal student loan disputes during a similar period. These numbers do not include those student loan borrowers who chose to fight their battle themselves, directly with the loan holder or through the court system.

The proposed student loan complaint system within the Obama administration's Student Aid Bill of Rights and the more recent announcement from the Consumer Financial Protection Bureau of a student loan servicer survey are indicators that policy makers and program administrators recognize the issue and are trying to improve the borrower experience.

But nobody's perfect, so even if student loan servicing reached a 99.9 percent accuracy rate, disputes would still come up. Regardless of the problem, the important thing is understanding how to get your student loan dispute resolved.

It's All in the Presentation

If you have a dispute with your student loan servicer, how you present that dispute can make all the difference in the world. Your first reaction might be to call, demand a supervisor, and if that doesn't work, demand the next level up.

While that could work, you should handle disputes in writing as much as possible to ensure that you have proof of what has happened and what has been agreed to.

Aim to present the servicer with a clear, concise and polite listing of the facts of the situation, as well as a specific, reasonable outcome you are trying to achieve. Sending the dispute in writing also ensures that you are able to present any additional documentation you might have to back up your claim or request.

Make sure you keep copies of everything you send and receive during the dispute process. If it comes to it, the burden of proof will be on you.

Finally, ensure that what you are asking for is reasonable, or even legal. Federal student loans are heavily regulated, so the loan holder may not even be allowed to do what you are asking. It's sometimes a good idea to go back through the promissory note terms before filing a dispute to see if that explains the problem.​

Who Do I Complain To?

Where you send your dispute can be almost as important as what you send. Most disputes can be sent to the servicer's general correspondence address that can be found on their website. You can expect the loan holder to respond within 30 days.

If you are not satisfied with the response, most loan holders have an escalated customer care or ombudsman office. These areas are generally charged with being neutral parties whose goal is to ensure that the dispute is fully vetted and that the dispute process is handled thoroughly and accurately.

What to Do If You're Still Unhappy

If you think the answer you get from this office is still incorrect, advocates would recommend reaching out to a senior staff member such as a vice president or CEO of your student loan holder​. But in the case of a student loan dispute, doing so may just cause your dispute to loop back around to where it started. Instead, it might be time to forward your dispute to the organization that provides oversight to the loan holders themselves.

The federal Department of Education maintains an office of the office of the ​ombudsman to help resolve federal student loan disputes. If there is a resolution to be had, this team will find a way.

Keep in mind that this group should be considered a last resort rather than a first one. If they find that you haven't given your loan holder the opportunity to resolve the dispute on its own, the ombudsman may just forward your dispute directly to the loan holder to give them that opportunity. This is where your paper trail will come in handy, as it will allow you to show the ombudsman what has already been presented and the response you received.

Private and federal student loan borrowers also have the resource of the Consumer Financial Protection Bureau to help them resolve escalated defaults. Consumers can submit complaints through their online database and use that same database to follow the process of the dispute.

Some consumers have had success contacting their members of Congress for assistance. While this can be very effective, remember that they can only request or effect change within existing law or regulation. If your dispute is that your interest rate is too high, and that rate is set in federal law, your congressman isn't going to be able to force your loan holder to change it.

In the end, most disputes can be avoided by ensuring you understand the terms of your student loans in India before you even sign the promissory note. Many disputes originate from the stress of a consumer realizing that they may not be able to afford their loan payments, or by how long it may take to pay in full.

Knowing what you are getting into ahead of time can help you plan and understand how these products work, and avoid future disputes. But if there is a mistake, knowing an effective process for resolving those mistakes is half the battle.

Source: (https://educationloansinindia.wordpress.com/2015/12/23/student-loans-in-india-know-how-to-resolve-student-loan-disputes/)

Educational loans - Understand Financial Aid, Payment Options for Summer Classes

Now, you’re likely bracing for finals, finishing semester long projects or sweating how little time you have for either task. Classes are the first thing on your mind, yet enrolling in more of them may be the last thing you’re thinking of. That could be a mistake.

While April is an important milestone in the spring semester, it’s also the gateway to the summer college semester. If you’re interested in taking summer classes at your school or a different location, you should get everything in order now. And that includes how you plan to pay for them.

The Value of Summer Classes

A lecture hall is likely near the bottom of your list of preferred summer destinations. After a long year in school, many students prefer to use their breaks to recharge, not re-enroll. In addition, the summer months offer a great opportunity to work a full-time job and earn money to pay for the upcoming year.

However, enrolling in summer classes can actually be a smart way to decrease college costs. For one, the classes themselves can be cheaper, especially if you opt to attend a less expensive community college. You'll just need to make sure any credits transfer.

Additional costs could be less expensive too. For instance, since fewer people enroll in the summer, you’ll likely have an easier time finding affordable, used textbooks.

The biggest potential savings come from accelerating your graduation date. By taking summer credits throughout college, you could shave a term or even an entire year off your education. That not only equals savings in the form of tuition payments, but it also cuts down on room, board, and other living expenses, not to mention getting you into the workforce and earning a salary faster.

Ways to Pay for Summer Classes

While classes may be less expensive in the summer, they still won’t be cheap. To pay for them, you’ll first want to exhaust your free money options. Scholarship providers offer opportunities year-round, and your school or state may have grants just for summer classes. For example, Pennsylvania has a summer grant program for in-state students.

In addition, you may be able to receive federal Pell Grant funding. While the year-round Pell Grant program was eliminated in 2011, you may be able to use this aid for a summer semester. However, this will depend on whether you’ve already received your full annual award amount or maxed out the full 12 semesters allowed.

Other types of federal student aid, such as Perkins, Stafford and PLUS loans, work similarly. The amount of each you received in your award letter is meant to cover a full academic year. If you already reached the annual maximums for these different types of aid, you won’t be able to use them to fund a summer semester. If that happens to you, you can shop around for a private student loan to cover your enrollment costs.

Your Next Steps

Ask your school’s financial aid office about its different summer funding options, whether they require a separate summer loan application – many do – and its definition of an academic year. For most schools, the academic year begins with the fall semester and ends with the summer semester, though some begin with the summer semester and end with the spring.

Depending on their answer to that last question, you’ll need to complete either the 2014-2015 or the 2015-2016 Free Application for Federal Student Aid if you haven't already. This will allow you to receive your federal student aid for the summer, either the amount remaining on your 2014-2015 award or the amount you’re eligible for in the upcoming year.

This information will also help you figure out how to best allocate your aid in the future. That’s because if attending summer classes is part of your larger college plan, you’ll want to review your annual federal Educational loans maximums and plot out how much you’ll need for each semester.

Remember, you don’t have to accept the full amount that your school awards you. Consider turning part of that aid down, replacing it with a different funding source and saving the remainder for a future semester. If you’re unsure how much federal student aid you’ve received in a given year or overall, you can find out by visiting the National Student Loan Data System.

Source: (http://educationloanformba.blog.com/2015/12/22/rahul-5/)

3 Student Loan Discharges to Hope You Won't Need

A few weeks ago, the Student Loan Ranger shared some information about a discharge available to federal loan borrowers whose school closes before the student can complete their credential. While it's nice that the federal student loan programs have a bit of a safety net for those situations, having your school close suddenly is not ideal, to say the least.

This got us thinking about some other safety nets that the federal loan programs offer that are good to know about, but you hope you never have to use. Here are a few to get started.

• Unpaid Refund Discharge: If a student withdraws before completing 60 percent of the academic period for which their federal loan was for, the school is required to return or cancel the appropriate portion of the loan. If they do not, a borrower can apply for what's called an unpaid refund discharge to have that portion of the loan forgiven.

Keep in mind that in most cases, a student must go through the school's posted withdrawal process to be considered officially withdrawn, and therefore eligible for the loan refund. Also, a school's tuition refund policy may not be the same as the federal loan refund policy. So even if the school returns funds to the loan holder, you may still end up owing that money to the school.

• Death Discharge: Unlike some private loans, federal student loans are discharged upon the death of the borrower, or in the case of Parent PLUS loans, the student for whom the loan was taken. To receive this discharge, the family must submit an original or certified copy of the death certificate to all federal loan holders. For Perkins loans, the death certificate must be sent to the school.

Any payments made on the loans since the date of death will be refunded.

Some private lenders also offer discharge upon the death of the borrower, so it's worth asking about. Keep in mind, however, that if a co-signer is involved, the death of the borrower or the co-signer can complicate things.

• Ability to Benefit Discharge: Another discharge the we hope you never need to use – is called the ability to benefit discharge. In this situation, the federal loan borrower states that they have a condition, which could be physical or not, that prevents that student from practicing in the field for which their credential prepared them.

This condition has to have existed when the student borrowed the federal loans, and the school had to have been aware that the condition existed. Examples of this would be a student who was legally blind obtaining loans to attend truck-driving school or someone with a criminal history that would prevent him or her from working with children taking loans to obtain a credential in child care or teaching.

Less specific degrees and certificates, such as accounting or business, would be difficult to apply this discharge to, as there are multiple career options available to those who pursue them.

If you do need to explore these discharges further, contact your Education loan holder or check out their website for further instructions and applications. Note that in many cases, you will continue to be due for payment until a completed application is received and you'll need to send an application to every loan holder.

Source: (http://www.usnews.com/education/blogs/student-loan-ranger/2015/06/24/3-student-loan-discharges-to-hope-you-wont-need)

Education loan in India - Income-Driven Student Loan Repayment Plans Can Cost More

Last week, U.S. Secretary of Education Arne Duncan announced that plans are moving forward to expand access to an income-driven repayment plan that caps federal student loan borrowers' payments at 10 percent of their discretionary income.

He was talking about the newest proposed income-driven repayment plan, tentatively called Revised Pay As You Earn, or REPAYE. ​Under the proposal, all direct loans, Stafford loans and consolidation loans that don't include parent PLUS loans would be eligible for the new plan, which would forgive any remaining balance after 20 years for undergraduate borrowers, among other benefits.

As with existing repayment plans, forgiveness would be taxed as income. The new plan would be an improvement for some borrowers, but others may find their current plan is a better fit for their circumstances.​ 

The income-driven plans have been promoted and discussed quite a bit over the past few years to ensure that borrowers having difficulty making payments on their federal loans are aware these options exist. But these plans aren't a good idea for everyone, and there are cases where these plans might not make sense.

Many borrowers beginning repayment are looking for the lowest payment they can get. When you're just starting out, that lowest payment might be the only payment you can afford.

Seeking out the lowest payment you are allowed, however, can become a problem once your income increases. Remember, with federal student loans and most private loans, interest accrues daily off of the current balance. This means the longer you take to repay the loan, the more you'll pay back in the long run.

When borrowers use one of the income-driven plans, they often think this risk is minimized due to what they assume will be loan forgiveness. The thought might be, "I must be paying less if I'm getting money forgiven."

In many cases, however, you actually may be paying back more. Here's an example:

A borrower has $45,000 in federal direct loans at a 4.5 percent interest rate. Let's say the borrower has $20,000 in direct subsidized Stafford loans and $25,000 in direct unsubsidized Stafford loans. His or her first job out of college provides an adjusted gross income of $35,000. The borrower lives in Massachusetts, is not married and has no other dependents.

According to the Department of Education's repayment calculator, which assumes a 5 percent income increase annually but no change in marital or dependency status, the various payment options make a huge impact on the bottom line of total amount paid. Note that REPAYE isn't represented here, as it's still in draft form.

As you can see, under income-based repayment and Pay as You Earn, the borrower does receive forgiveness of about $6,000; however, she will end up paying over $15,000 more over the life of the loan under this plan than she would have under a standard 10-year plan. If you consider that this $6,000 will likely be taxed as income, the benefit loses even more of its sparkle.

So should you stay away from the income-driven plans? Absolutely not. Just like other consumer debt, the goal with student loans should be to pay them back as quickly as possible to reduce interest, while keeping your other financial goals, such as retirement and emergency funds, in good standing.

It's a good idea to get into the habit of reviewing your budget, including your student loan payment, on an annual basis to see if you're still on the plan that's best for you in the long term. The final version of the REPAYE rules are expected at the end of October, with implementation at some point a few months after that.

The Education Loan in India will be sure to keep you updated as things progress. Just remember: That lowest payment may end up being the most expensive payment in the long run.

Source: (https://educationloan.quora.com/Education-loan-in-India-Income-Driven-Student-Loan-Repayment-Plans-Can-Cost-More)

Educational loans - Discover More Methods of Student Loan Forgiveness

We recently devoted an entire post to explaining all the details, facts and myths surrounding the Public Service Loan Forgiveness program. If you're a regular reader, you know that we talk about loan forgiveness a lot, but that's because we get asked about it – a lot.

And while we firmly believe that if you borrow funds it is your obligation to repay them as agreed, we also believe just as strongly in getting the word out on the programs that have been put into place specifically to help the financially challenged and other targeted constituencies such as teachers and medical personnel manage their debt.

While most student loan borrowers have at least heard of the federal forgiveness programs such as Public Service Loan Forgiveness or income-driven repayment plans, you may not be aware that there are dozens of other options.

There's not enough space to describe them all here, but you can check out the loan forgiveness e-book​ 100+ Ways To Get Rid Of Your Student Loans Without Paying Them. In the meantime, here's an overview.

• Forgiveness based on what you do: What teachers, lawyers and medical personal all have in common is the need for these professionals, especially in lower income areas, and the high student loan debt that graduates of these professions tend to incur. This can result in student loan borrowers having to forego often lower-paying jobs in high-need areas to ensure they can afford their student loan payments.

To counteract this, several student loan repayment programs targeting these high-need professions have been put into place over the years. Teachers for example, especially those considered highly qualified, may be eligible to have up to $17,500 of their federal loans forgiven under the Teacher Loan Forgiveness​ program if they teach in a low-income serving school or educational agency for five years. Perkins loan borrowers with similar employment can have their entire loans forgiven.

Some health professionals can receive up to $40,000 forgiven for as little as a two-year commitment at a site that provides health care services to American Indian and Alaska Native Committees. Those who join the National Health Service Corps ​can receive up to $50,000 for a two-year commitment with the possibility of additional awards for additional years. Both of these options will pay private as well as federal loans, which can be a significant benefit to those with high private loan balances.

• Forgiveness based on where you live:  If we're going to categorize student loan forgiveness programs, the biggest category by far is state-based programs. These are programs that are trying to attract members of certain professions to relieve a shortage, usually in lower income or rural areas. The majority of these programs focus on teachers, health professionals who serve-two-legged and four-legged patients and attorneys.

One of our favorites is the CDA Foundation student loan repayment grant, which will repay up to $105,000 for three years of full-time dentistry in California.

The Michigan State Loan Repayment ​program is another favorite, and will repay up to $200,000 of federal and private loans for up to eight years of medical service. Physicians, dentists, nurse practitioners, psychiatric nurses, certified nurse midwives, psychologists and those practicing in other areas are eligible.

If you graduated with an undergraduate degree from a New York college or university and agree to operate a farm full time for five years, the New York State Young Farmers Loan Forgiveness Incentive Program will reward you with up to $50,000 toward your federal, state or private loans.

North Dakota's veterinarian loan repayment program will repay up to ​$15,000 for the first two years and $25,000 for years three and four for large food animal veterinarians in high-need areas​.

• Forgiveness based on how you give back: Most people are familiar with the military loan repayment programs. The GI Bill is considered the start of the concept of federal financial aid​.

But if the military is not for you, there are other ways to serve and still receive forgiveness benefits for your student loans. AmeriCorps members, for example, receive a varied amount depending on the year and the program served in. In 2015, the maximum amount of the award is a little over $5,700.

If you're unable to make a long commitment, the website sponsorchange.org matches volunteers with sponsors willing to pay toward members' student loans in exchange for these same volunteers providing manpower at participating nonprofit organizations.

As with any type of contract, it's important to read the fine print before you sign up for any of these forgiveness programs. Is the amount taxable? What happens if you don't fulfill the service commitment? Is the amount guaranteed or can it be changed due to law or budget changes? What kind of student loans can the award be used for?

All of these questions are important to know before you start any type of service commitment – or even financial planning. As always, never ever take on Educational loans debt assuming a program will exist to forgive it later. All of these programs rely on federal or state budgets, which can and do change often.

Source: (http://educationloanformba.tumblr.com/post/135310688970/educational-loans-discover-more-methods-of)

Pros, Cons of Helping Grandchildren with College Costs

Sept. 13 marks National Grandparents Day, and some college students should be sure to thank Grandma and Grandpa for something extra special this year: help paying for school.

According to Sallie Mae's How America Pays For College 2015 report, contributions for college costs from relatives and friends increased 40 percent from 2014 to 2015 – the largest increase among all categories. Overall, these contributions averaged just $1,247​. However, even that small amount could have a big effect on a grandparent on a fixed income due to retirement.

The number of people over age 50 with student loans has increased 130 percent in the last seven years. But many older borrowers are battling their own debt into retirement, so cosigning additional loans could create financial trouble for them. If one of your retirement goals is to help pay for your grandchildren's education, consider the following pros and cons before you do.

Grandparents can take advantage of a few different funding options to assist their grandchildren. The one familiar to most consumers is a 529 college savings plan. These plans allow you to put money toward your grandchild's education costs and let this investment grow tax free.

You can contribute to an existing 529 plan or start your own in your grandchild's name. The downside to the latter option is that the federal aid calculation considers the funds the student's asset, which weighs significantly in the need-based aid calculations. Instead, you could give the money directly to your child – not your grandchild. When given to a parent, this money is considered the parent's untaxed income on the Free Application for Federal Student Aid, which is counted less significantly than in the student's calculation.

Also, be aware of the gift tax consequences should you provide more than $14,000 to that beneficiary annually. Trying to get around those tax penalties by paying the funds directly to the university can backfire, as most schools verify how tuition is paid and can count such gifts as untaxed income, potentially lowering the student's aid eligibility.

Before using these options, talk with both a tax professional and a financial aid professional to understand each choice's impact fully.

Grandparents may also be able to help their grandchildren win scholarships. Your grandson or granddaughter may qualify for an award based on your military service, ancestry and more.

If unable to make a direct financial contribution via their savings, grandparents can help their grandchildren borrow student loans. Grandparents themselves are ineligible for federal loans unless they have legally adopted the child they're borrowing for. However, they could cosign a private loan with their grandchild.

Private student loans do not offer the same benefits as federal student loans, which can allow borrowers to reduce, postpone or even eliminate their payments altogether, should they meet certain qualifications. Some lenders may provide similar options, but they are not entitlements and you may actually have to pay to take advantage of them.

By cosigning a student loan, you take on equal responsibility for that debt. Even if your grandchild agrees to handle the payments, you would still be on the hook if he or she does not. So, should something unforeseen happen to you or your grandchild, the remaining party would likely have to pay the remaining debt.

And it's even been reported that some student borrowers face "auto-default," meaning full repayment of the loan is required immediately, should their cosigner die or file for bankruptcy. If you're in retirement and living on a fixed income, you should be sure you could manage that full debt before cosigning.

If you are already repaying federal study loans from your own schooling or your children's, you may be able to choose from a number of different plans that could decrease the amount you pay on them each month. In particular, there are a few different plans that base your payments on your income and forgive your remaining debt after 20 or 25 years.

These income-driven plans could especially be of benefit when you're in retirement. Retirees typically have less income, and that may qualify them for a much lower payment – one that could be as low as zero dollars per month​. With that extra money, you could help fund a number of different retirement goals, from travel to helping with your grandchildren's education. ​Note that if you're paying Parent PLUS loans, they are only eligible for income-contingent repayment, and only if consolidated under the federal direct loan program.

Source: (https://educationloansinindia.wordpress.com/2015/12/15/pros-cons-of-helping-grandchildren-with-college-costs/)

Best Education loan - Follow 4 Tips to Stay on Top of an Income-Driven Repayment Plan

A few weeks ago, the Department of Education announced that as of midsummer, nearly 3.9 million federal student loan borrowers had an income-driven repayment plan – a 56 percent increase from the same time last year.

This was great news, as it indicates that not only are more consumers aware that such lower payment options exist, but they are also using them to ensure their payments are manageable. The same announcement showed a 2 percentage point drop in the proportion of federal student loan accounts that were past due during that same period. Coincidence? We don't think so.

So now that we've got borrowers utilizing these programs, we can stop worrying about them, right? Wrong. According to data published by the Department of Education last year, almost 60 percent ofstudent loan borrowers who have chosen an income-driven repayment plan fail to submit their annual renewal applications on time. This is an especially alarming number if you consider the consequences of submitting late.

A borrower who pays under one of the income-driven repayment plans such as income-based repayment, income-contingent repayment or Pay As You Earn is required to renew that plan annually. While these plans are all slightly different, in general, failure to renew your plan on time can result in some or all of the following consequences:

• Your monthly payment may convert to a ten-year standard repayment plan, which can be a very significant jump from your income-driven repayment payment.

• Any outstanding accrued interest can be added to your principal balance.

• If applicable, there could be a ceasing of the interest subsidy allowed on some loans during the first three years under the income-driven repayment plan.

With such expensive consequences, why do so many borrowers fail to renew their income-driven repayment on time? After talking to affected consumers and participating loan holders, the Student Loan Ranger has come up with a checklist to ensure that you don't become part of this statistic.

1. Know whom you owe: This might seem like an unnecessary reminder, but the Student Loan Ranger gets questions almost daily from folks who don't know who holds their student loans. If you're one of them, you can find a list of loans, loan holders and their contact information by logging into theNational Student Loan Data System.

2. Open your mail – all of it: The number one reason that borrowers fail to renew their income-driven repayment plan on time is because they don't see the reminder notices and instructions. According to the consumers we've talked to, this is consistently because they don't open their mail.

Many borrowers pay their student loans via automatic payments through their bank or have a payment of zero under their income-driven repayment plan – yes, that's possible. So when they receive emails or snail mail from their loan holders, they assume it's a bill and toss it into the physical or virtual trash bin.

Expect to start receiving reminders for the renewal between two and three months before the end of your current 12-month income-driven repayment period, with the renewal documents due up to a month before the end of that period. It's very important to make this deadline as, in most cases, if the loan servicer doesn't receive the documents on time, all of the consequences we mentioned previously will kick in. It might be a good idea to set your own reminder on your cellphone or other device.

3. Keep track of your financial situation: Many consumers using the income-driven repayment plans don't realize that they actually don't have to wait for the 12-month period to expire if their financial situation changes.

If your income increases or decreases, you can contact the loan servicer at any time to submit updated financial information, have your payment adjusted accordingly.

On a related note, remember that if something causes you to not be able to afford your payments at all, it's important to contact the loan servicer right away. Especially with federal loans, there's almost always something your loan holder can do to provide relief and help you avoid late fees and credit hits.

4. Again, remember to open your mail:  Seriously – remember that statistic we listed earlier – almost 60 percent of borrowers don't renew their income-driven repayment plan on time, and that's mostly due to failure to open their mail and see the reminders. What that number doesn't show is that we see that many of those borrowers who fail to renew on time fall past due on these loans.

Remembering to renew your income-driven repayment plan can be a challenge, which is why organizations like ours and federal student loan servicers are being much more proactive about reminding borrowers when it's time to renew.

Still, it's always best to take initiative on your own. Know your Best Education loan servicer and how to reach them, understand your payment plan and reach out if you get in trouble.

Source: (https://educationloan.quora.com/Best-Education-loan-Follow-4-Tips-to-Stay-on-Top-of-an-Income-Driven-Repayment-Plan)

EDMC settlements chart new direction for private-sector education loan

As someone who has long believed in the importance of private-sector education, I read with interest the announcement that one of the sector's leaders, Education Management Corporation (EDMC), has settled with both the U.S. Department of Justice (DOJ) and attorneys general from 39 states and the District of Columbia.

Private-sector opponents position the agreements as a victory for students. I agree — but for reasons that are very different from the sector's critics.

While the DOJ settlement was substantial, it largely related to the past. I find the consent judgment with the state attorneys general much more interesting — that one looks forward.

Opponents see the agreement as a weakening of the sector. But if you read the judgment, you see that the agreements that EDMC and its academic institutions have worked out with the various states are good for students, will strengthen the company's schools and, I believe, provide a template for all institutions of higher education to follow.

As presented in various news releases, the agreement outlines important areas of change.

First, there will be improved transparency. For students, from the very beginning, EDMC's academic institutions will provide a one-page, easy-to-understand, clearly worded overview of costs, loan default rates, job placement rates and the relationship between debt and earnings for the programs offered. EDMC says that it will also build an interactive website to allow students to plug in their own financial information to personalize their decision.

That information will help all students answer the critical questions: Is this program really for me? Should I make the commitment? Answering those questions in advance is going to dramatically lessen the mismatches between expectations and the realities of educational decisions.

EDMC will also take steps to make sure that, where relevant, programs are aligned with local market demand and licensure requirements. Since most students are from and remain in the areas where schools are located, they will only be enrolled in programs that lead to licenses in their home states.

Further, EDMC institutions will offer a no-cost orientation program to help students determine for themselves if they can make the commitment and handle the requirements of the course work.

Finally, EDMC commits to stepped-up enforcement of its recruiting policies — particularly, increased scrutiny on their recruitment practices as well as those of third-parties who assist the institutions in their recruitment efforts.

These changes are not general statements of good intentions; they are binding. They are going to create fundamental improvements in transparency and accountability, and all of higher ed should sit up and take notice!

But there is also a bigger picture here.

EDMC is one of the private sector's largest, most visible companies. What they have called their "blueprint for change" will certainly have influence. And it is all happening at a particularly important time.

Pick any survey, in virtually any industry, and it will say that America is experiencing a growing shortage of workers trained and ready to fill open positions. Now, compare that with the fact that private-sector institutions award the majority of all allied health and culinary arts credentials earned. They provide 38 percent of all electrician credentials and 40 percent of all vehicle maintenance and repair technology credentials. The list goes on.

Can the private sector do a better job of matching students and educational opportunities? Experience says: absolutely. Should we tear down the infrastructure and replace it with something else? Reality asks: why?

Based on recent political rhetoric and talking points, some would have you believe that the go-to solution would be to replace the private sector with free community college education — often pointing out the community college programs already offer many of the same programs as the private-sector schools. I would happily wrap my arms around that argument if the community college system was able to take on that responsibility. It's not.

Writing in the Sept. 17 issue of U.S. News and World Report, Judah Bellin, a higher-education policy researcher at the Manhattan Institute, said that the president's plan "mostly ignores an unfortunate truth about America’s community colleges. They're in bad shape. Without serious reform, it makes little sense to send more students to these institutions."

Administration estimates put the bill for strengthening the system at upward of $60 billion — a budget item you won't get from petty cash. The plan would cover 75 percent of student tuitions, with the states asked to kick in the rest. Those two facts alone, in a time of stretched state budgets, make the plan a long shot at best.

As an observer with a rooting interest in providing students with an education that enables jobs that change lives, it makes much more sense to allow the private-sector institutions to do their good work, making corrections where necessary and building on the innovation and nimbleness that is characteristic of the sector.

I believe EDMC should be commended for leading the sector in establishing greater accountability and transparency, and in doing a better job of helping students pursue the right Education loan to enable the careers they choose and the lives they want to lead.

Source: (https://educationloansinindia.wordpress.com/2015/12/12/edmc-settlements-chart-new-direction-for-private-sector-education-loan/)

Tips to Avoid Student Loan Default Before, During and After College

Last week, the Student Loan Ranger talked about the most recent statistics on student loan default rates. The cohort default rate is published annually by the Department of Education; while few additional details are provided, this week's blog will revisit some strategies to ensure that you don't become part of those default statistics.​

Before You Start

The most important part of the not-defaulting strategy is to choose the school that's right for you. That's because the majority of borrowers who default on their student loans never completed their degree or credential.

If you're not happy or struggle at your school of choice, you're much less likely to complete your education, and if that happens, you're much more likely to default on your loans.

Even if the school is a perfect environmental fit, if you're going to end up with an unaffordable debt level, you might as well be paddling backwards. Too many borrowers have made the college decision an emotional one, rather than the significant financial decision that it is. Do your homework: compare college costs, graduation rates, student income after graduation and loan repayment rates, among other factors.​

While You're at College

It's so much easier to take out a student loan these days than it was 10 or 15 years ago, when most of the application process, including the Free Application for Federal Student Aid, was paper that had to be mailed for processing.

The downside to today's more streamlined process is that it makes loan monies more easily accessible, and therefore, easier to let it get out of hand. A $10,000 or even $20,000 loan may sound manageable until you multiply​ it by the four or five years it's going to take you to get your degree, and suddenly you're looking at a $1,000 per month​ student loan payment.

Budget creep can be equally dangerous. A modest $3 per day coffee is going to cost you almost $5,000 over a four-year period if you include the interest that will accrue on the student loan funds you used to pay for that drink. If you decide to use your summer job money for an exotic spring break trip instead of for books and school year​ living expenses, that's another couple of thousand dollars gone.

Having a budget and itemizing expenses is a good way to ensure that you keep a handle on your spending and keep the student loan borrowing to a minimum.

After You've Left School

A common denominator for student loan defaulters is that many of them never once connect with their loan holders – and that's just maddening. What's worse is that many of these same defaulters aren't even sure what loans they have or who the holder is.

The National Student Loan Data System will not only list all of your student loans for you, but it will also give you contact information for your loan holders and each loan's status, approximate balance and what school it was for. If you have private loans, your credit report will help you track those down. ​

If you're struggling or think you might struggle down the line, contact your loan holder to learn what lower payment and other options you might be eligible for.

Many borrowers who default, especially those who do so within the first three years of payment, do so without ever making a single payment. Some explain this by claiming never to have received a bill or phone call. Not receiving a bill is not a good defense for not paying it – and that goes for most consumer debts, not just student loans.

It's your responsibility as the borrower to keep your loan holder current on your contact information and mailing address, as well as knowing when your first payment is due.

Finally, educate yourself on the terms of the loan and what options may be available. ​​​Doing so can help you make smarter decisions as to how to pay those Education loans in an affordable and efficient manner.

Source: (https://educationloansinindia.wordpress.com/2015/12/11/tips-to-avoid-student-loan-default-before-during-and-after-college/)

Explore How Presidential Candidates Stand on Student Loan Debt

While the race for the Democratic and Republican presidential nominations remains an early and crowded one, the Student Loan Ranger thought it might be a good time to start getting an idea of where some of the candidates stand on student debt.

We're glad to see that so many candidates are making student debt a priority this early in the race, because it is usually an issue that candidates don't take a public position on until the general election. Since there are almost too many hopefuls to count right now, we'll just focus on the current top two from each party.

Hillary Clinton

Democratic candidate Hillary Clinton rolled out her higher education plan, called The New College Compact, this past August. The plan can be summed up by a quote from a speech she gave in New Hampshire the day it was officially released: "No family and no student should have to borrow to pay tuition at a public college or university," Clinton said. "And everyone who has student debt should be able to finance it at lower rates."

The plan isn't so much about new ideas, but about picking and choosing from policy proposals currently being batted around by both sides of the aisle. Therefore, it seems to hit some liberal as well as conservative notes.

To reduce future student debt, Clinton proposes offering grants to states that reinvest in and work with their public colleges to allow students to attend with a minimal, wage-based contribution and no debt. Community colleges would be completely tuition free.

Existing student loans would see a significant decrease in interest rates and simplification of the current myriad of income-driven repayment options. The plan would also encourage higher college completion rates, require college accreditors to require more flexible and robust education methods and require colleges whose students are unable to reasonably repay their loans to contribute to a program that supports schools that serve low-income students.

The $350 billion price tag may prove to be one of the most controversial parts of the plan. Clinton proposes this be paid for with tax adjustments for the wealthy.

Ben Carson

While Clinton's proposals focus on increasing funds for higher education assistance, Republican candidate Dr. Ben Carson has somewhat of an opposite view. His solution for paying for college comes in the form of existing Pell Grant funding and, as he noted during a 2014 interview, "there is a four letter word that works extremely well, it's called w-o-r-k, work."

In a more recent interview, he expands his position to say that while student loans are OK, their interest rates are not. He says that schools should carry part of the responsibility of student loan debt by paying for the interest on the loans for the students they enroll.

In a more official statement on education, Carson criticizes the federal Department of Education, but unlike other Republican candidates who have called for it to be eliminated, Carson would like to use the department to "monitor our institutions of higher education for extreme political bias and deny federal funding if it exists."

Bernie Sanders

Also currently at the top of the Democratic hopeful list, Bernie Sanders's position on higher education debt mirrors some of the issues that Clinton is pushing for, but goes a step further. He too calls for free higher eduation by requiring public colleges and universities to meet the financial need of the "lowest-income students."

Under this plan, low-income students would use state, federal and institutional aid to cover tuition, living and other expenses. He would also like to see an increase in federal aid programs, on his campaign website specifically calling to "more than triple the federal work-study program to build valuable career experience that will help them after they graduate."

Sanders's website doesn't expand on this statement, but this could be interpreted to mean that more students would have the ability to work for their aid money, rather than receive it in the form of loans or straight grants. Sanders' position on these other programs remains unclear, but he's also a proponent of lowering interest rates on both future and existing student loans. He suggests paying for all of this with a new tax on people he calls Wall Street speculators.

Donald Trump

While Republican hopeful Donald Trump hasn't issued an official plan regarding student loans, he has made one of his views pretty clear. In a July interview with The Hill, Trump said, "That's probably one of the only things the government shouldn't make money off – I think it's terrible that one of the only profit centers we have is student loans."

While Trump has never outlined his plans to change that, what's most surprising about this statement, one he repeated in a Twitter chat last month, is that it's one espoused by arguably one of the most liberal politicians out there – Massachusetts Sen. Elizabeth Warren.

TAGS: education student loans students paying for college debt financial aid colleges Carson, Benjamin Clinton, Hillary Sanders, Bernie Trump, Donald

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Betsy Mayotte, director of regulatory compliance for American Student Assistance, regularly advises consumers on planning and paying for college. Mayotte, who received a B.S. in business communications from Bentley College, is a frequent contributor to ASA's SALT Blog; responds to public inquiries via the advice resource "Just Ask;" and is frequently quoted in traditional and social media on the topics of Educational loan and financial aid.

Source: (https://educationloansinindia.wordpress.com/2015/12/10/explore-how-presidential-candidates-stand-on-student-loan-debt-2/)

Enjoy Lucrative career Opportunities with MBA in USA

Everyone wants to utilize his or her degree to the fullest in order to set up a fine career with attractive pay packages. Speaking on this context, MBA is the most striking educational degree where students can establish a bright future surrounding the spheres of business management. Today the value of MBA is very high at various industries since they demand professional who would be smart, diligent with managerial and leadership qualities. Nothing can be better than obtaining MBA from a prosperous study destination such as USA.

What IDP has to Offer?

IDP Education Pvt. Ltd is a leading group offering placements to the students for fulfilling their dreams of international education. IDP acts like a guardian angel in a student’s life where the professionals guide and assists a student in their educational journey who seeks global education. There are a plethora of profitable career opportunities for students who have MBA graduates in USA. The business schools situated in USA can be broadly classified under two categories private or autonomous universities and public or state supportive universities.

Why Should a Student Choose MBA?

MBA in USA is a study program of 2 years where students can learn by gaining complete knowledge over the various aspects of business and management studies. MBA is a study program which sharpens your brain with the thorough knowledge of the fundamental principles of business, the different ways of implementing business strategies to different situations. This kind of study instills upon a student the ability to take the right decision at the right situation in a business.

Various MBA Programs that can be opted:

There are wide arrays of MBA courses which have been specifically designed for the aspirants so that they can opt the suitable one that matches their interest. Different MBA programs like Finance, Banking, Sales and Marketing, IT and Systems, Human Resources, Rural Management, Real Estate, Insurance and Risk management, Entrepreneurial Management, etc.

Eligibility Criteria for MBA in USA:

Now we are going to discuss about the eligibility criteria required during admission to the MBA programs offered in USA. Students should at least have 16 years of undergraduate qualification to opt for MBA in USA. Students must complete 4 years of education after qualifying high school or junior college from an accredited university or college. The universities in USA check for the TOEFL or IELTS scores to check the student’s proficiency in English language. The university highly accepts the GMAT scores of the students, GMAT or graduate management admissions test is a well-recognized Education loan for MBA entrance test. Apart from this students are required to submit letters of recommendation or assessments or referrals and personal statements or admission essays.

Source: (https://educationloan.quora.com/Enjoy-Lucrative-career-Opportunities-with-MBA-in-USA)