Student Loans - FinAid Consolidation Loans
An education loan is a form of financial aid that must be repaid, with interest. (Scholarships, on the other hand, do not have to be repaid.)
Education loans come in three major categories: student loans (e.g., Stafford and Perkins loans), parent loans (e.g., PLUS loans) and private student loans (also called alternative student loans). A fourth type of education loan, the consolidation loan, allows the borrower to lump all of their loans into one loan for simplified payment.
Federal law sets the maximum interest rates and fees that lenders may charge for federally-guaranteed loans. Nothing prevents a lender from charging lower fees. Many lenders offer a variety of student loan discounts to attract borrowers.
Few students can afford to pay for college without some form of education financing. Two-thirds (65.6%) of undergraduate students graduate with some debt, and the average federal student loan debt among graduating seniors is $19,202 (Stafford and Perkins Loans), according to the 2003-2004 National Postsecondary Student Aid Study (NPSAS). (The median is $17,120. One quarter of undergraduate students borrow $24,936 or more, and one tenth borrow $35,193 or more.) These figures increase by about 3% or approximately $550 a year. When one includes PLUS loans in the total, the average cumulative debt incurred is $21,814. (Approximately one in ten (10.7%) parents borrow PLUS loans for their children's college education, with a cumulative PLUS loan debt of $16,218.)
Graduate and professional students borrow even more, with the additional debt for a graduate degree ranging from $27,000 to $114,000. The following table shows the percentage borrowing and average amount of cumulative debt among graduating students according to degree program. It provides the amounts borrowed for just the graduate education and also the combined totals for undergraduate and graduate education.
http://www.finaid.org/loans/
| City | |
|---|---|
| Price | |
| Phone | |
| http://www.finaid.org/loans/ | |
| Category | Services: Legal, Lawyer, Attorney |
Latest classifieds
Ecoway Movers Guelph ON
Ecoway Movers is the leading Moving Company in Guelph ON, offers reliable and cost-effective moving
Vape Street Parksville BC
At our Vape shop in Parksville BC we love helping educate new vaping users. We have the largest sele
Two Aspens Builders
Two Aspens Builders home renovation team of experienced professionals will work with you to create a
Top Security Services in Bangalore - KSFsecurity.com
Looking for top-notch security services in Bangalore? We've got your back with our leading-edge secu
Ecoway Movers Newmarket ON
Ecoway Movers is the leading Moving Company in Newmarket ON, offers reliable and cost-effective movi
Ecoway Movers Newmarket ON
Ecoway Movers is the leading Moving Company in Newmarket ON, offers reliable and cost-effective movi
Solar 360
Solar 360 offer the best 25-year service and installation warranty, and we have a wide range of paym
Countryside Construction Inc
Having septic systems designed for your property, properly installed and well-serviced throughout it
Albion Family Dental
At Albion Family Dental, we provide a full range of dental services to meet the needs of our patient
Residential carpet cleaning services
Delight Carpet Care's residential carpet cleaning services are here to change the way you live by pr