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
Canada Immigration Consultants in Bangalore – Novusimmigration.com
Still Dreaming Of Migrating To Canada? Want To Get Connected To The Best Consultants For Canada Immi
MB Home Buyers
Many Home Sellers are compelled to close at the buyer’s convenience. but not here. You are free to
Kelly Mortgage Broker - Uhome Finance
UHome Finance began with a simple mission to provide world-class service to those of us who at one p
4th International Conference on Dental Research and Dental Treatments
Dental Research 2022 conference invites all the participants to attend and share their insights in t
Optimal Nurse Consultant & Associates
Whether you're an attorney client looking for a simple review of medical records for a pending case
Four Peaks Roofing
Four Peaks Roofing is a full service roofing company in Phoenix, AZ that is customer focused and ded
How to grow your online coaching business
Coaching stresses a lot on team work as it is the cumulative efforts of all the members of the team
Sanitary Parts and Accessories – Meet TriClamp.co, your sanitary fittings supplier
With the best stainless steel sanitary parts and accessories you can now overcome the problem of cor
Bella Vita Botox, Emsculpt Neo, Morpheus8, Brazilian Wax, Med Spas
We combine holistic approach and beauty treatments with modern technologies. At Bella Vita you have
Rich Stock on Switchblade Knife from Globally-renowned Popular Brands
You can find a wide range of collection on Switchblade Knife of internationally reputed brands at my