Tips On Applying For Loans - Articles & Advice
|
Browse home equity loans, check today's rates, and quickly compare payments.
Get great deals and fast, friendly service
at E-Loan, even with problem finances.
Pick your best loan deal. Get approved in minutes!
Click here to
Check Current Rates (opens
in new window) |
Federal PLUS Loans
Vanessa McHooley
As a student entering college, it is very unlikely that you have a few spare checks lying around that you can cash and magically use to pay for college. Most college-aged students, ranging from late teens through mid-twenties, have no line of credit and cannot receive much money in loans if they need to do so in order to attend college. Therefore, a loan like the federal PLUS loan through the federal government and U.S. Department of Education makes it easy for you, as a potential college student, to use your parents’ line of credit in order to gain financing options for your higher education.
How Your Parents Can Help You Apply
If your parents have good credit and you obtain them a copy of the Direct PLUS loan application, you are well on your way to cracking the college books and arriving on campus in the fall. Keep in mind that in order to receive a federal PLUS loan, you must be a dependent potential undergraduate at any college or university in the U.S. You also must be planning on attending college for at least half-time during the upcoming semester. If these all apply to you, obtain a Direct PLUS loan application and promissory note, fill them out with signatures completed, and hand them in to the financial aid office at your college or university.
Fill Out A FAFSA Form First!
Have you tried filling out your FAFSA form yet? If not, you may already be entitled to financial aid and/or loans and scholarships that could benefit you! While it is not required for you to fill out the FAFSA form to receive a federal PLUS loan, be aware that you could receive thousands of dollars without even having to use your parents’ credit in the first place. Still, if you are not eligible for any other scholarships, the federal PLUS loan will enable you to receive financing for any portion of your college or university bill not covered by other financial aid (i.e. If college costs you $5000 a year and you already receive $4000 in financial aid, a PLUS loan will lend you the other $1000). Federal PLUS loans can help put you through college, even if you do not have a solid line of credit yet.
This article is distributed by NextStudent. At NextStudent, we believe that getting an education is the best investment you can make, and we're dedicated to helping you pursue your education dreams by making college funding as easy as possible. We invite you to learn more about how to get Federal Plus Loans at www.NextStudent.com .
My goal is to help every student succeed - education is one of hte most important things a person can have, so I have made it my personal mission to help every student pay for their education. Aside from that, I am just a pretty average girl from SD. |
Related Pages
Refinance Tax Advice
- Tax treatment and deductions for points paid to refinance mortgage - How and
when points are deductible for mortgage refinance loans.
Mortgage Refinancing
- Tips on when mortgage refinancing is the right decision - How to
avoid paying points and other lender fees when refinancing your mortgage.
Real Estate
Investment Tips - Seven real estate investment tips - Best sources
for investment property loans - How to find good real estate investment
properties for resale.
Mortgage
Brokers - Shop these top lenders for comparison quotes.
Credit History
and Approval - How to get a free credit report - Quick fixes to qualify for a
better rate.
Down Payment
Leverage - Avoid PMI with a two-loan strategy. How to grow your equity faster.
Online
Lenders - Tips on evaluating online lenders and their offerings.
Refinance-
Tips on when refinancing is the right decision - How to avoid paying points and
other lender fees.
Home Loan Online
- Discover the best ways to get the lowest rates - Links for checking current rates.
Real
Estate Settlement Procedures - Your rights under the Real Estate
Settlement Procedures Act - What protections you are entitled to and what needs
to be disclosed to you.
Private Mortgage
Loans - When to use private mortgage loans as an alternative funding
resource - Qualifying for a private mortgage loan is based on the property
value, not your personal credit.
In The News
|
