What is College Loans?
Usually college or university lends you money that you can pay
back when you leave education and get a job. In other words loans
given to a student for the purpose of studying in the college by
the university is called as College Loans
. Other lenders are
likely to show you the door: most mainstream bank sites have an
age limit of 22, which means most College students aren't
eligible, and others simply won't lend money to anyone that isn't
in full time employment.
The problem with College student loans is that College students
are a bad risk for banks: no regular income means no regular
repayments, and in many cases students – particularly new students
– don't have a credit history. It's unfair, but banks often see
College students as alcoholic nutcases who'd only use the money to
buy snakebite in the Union bar for the next few years.
are available on a selective basis for a
number of purposes.
Government sponsored College Loan Companies allows cheap loans for
educational support to graduates and covers the cost of tuition
and other expenses for under graduates. The loan is charged at the
current inflation rate for interest rate purposes and is subject
to a repayment program only when the College student has found
work and earning over a certain amount.
The commercial banks also offers College loans for the costs of
courses and other facilities often at preferential rates to both
university graduates and other students over the age of 18.
How do College students get money in the form of grants?
Students apply for government grants for college by filling out
the Free Application for Federal Student Aid (FAFSA). This is the
first step in the financial aid process. By completing this
application form, students will be matched with aid programs that
they qualify for.
Grants are awards based upon financial need that are given to
college students by the government. Many students will qualify for
government grants for college.
Loan amount on College loans vary with the kind of education you
want to pursue. The repayment options with College loans will
similarly accommodate your personal financial preferences.