Get different types of loans to fund higher education for U.S. students or international students studying in U.S.A. Student Loans are often the cheapest as compare to other loans for a lower or middle – income students and families. Loans are given to those students who are under graduate, graduate or have qualified some exams. Students can apply for loans on this website as it is very user friendly and easy to understand.
This website is filled with all the necessary information needed to choose the best loan and how to keep money management is also provided in this website.
The loan when taken while studying can be paid back once the study is completed. The student loans have interest rates and the rates are variable. Student Loans plays an important role in U.S. higher education. Student loans are basically of two types:
- Federal loan – This loan are directly made to the students. This loan provides short term liquidity to the student lenders. The 4 major Federal loans for students are:
- Direct loan – Direct loans are initiated and funded directly by the U.S. department of education.
- Guaranteed loans – These loans are initiated and funded by private investors but guaranteed by the U.S. Federal Government.
- Graduate Plus loan – This loan is available to graduate and professional school students. It offers a low fixed interest rate. A co–signer is not required.
- Parent Plus loan
For federal loans, all students are eligible to receive loan from U.S. Federal Government. These loans are popular with U.S. students in the U.S.A. but not available to international students.
- Private loan – This loan can be made to parents or students directly. This loan can be used for any education related expenses such as tuition, room and boarding, books, Laptops & Computers and previous due balances. Students can even use these private loans to add-on with federal student loans when federal loans, grants and other forms of financial help are not sufficient to cover the full expenses. These loans are available for international students studying in U.S.A. Private students loan are of two types :
- School – Channel loans
- Direct – to – Consumer
Students can borrow loan up to the full cost of their educations minus other aid received. This helps the students to save money, build good credit and pay off their student loan faster. These loans are available students studying in Colleges and Universities using fund pay out directly to the school. One of the largest Student Loan Providers and guarantors in United States is Great Lakes Higher Education Corporation.