Public-Private Partnerships Leveraging Resources for Student Success

Building communities of collaboration on behalf of America’s most vulnerable children is the reason that Secretary Duncan praised public-private school partnerships at the recent Annual Private School Leadership Conference, hosted by ED’s Office of Innovation and Improvement’s Office of Non-Public Education (ONPE).

Duncan noted that independent private schools across America are partnering with public schools and other community organizations to address the academic and social needs of some of our nation’s most vulnerable children. One such example is the Private Schools with Public Purpose consortium, which encourages America’s independent and parochial schools to coordinate and leverage their resources, expertise, and experience with those of the public schools to benefit public school students and teachers.

During ONPE’s recent conference, a panel of PSPP leaders joined the Secretary and described partnerships across the country that aim to level the educational playing field for America’s young people. The panel highlighted the Middle Grades Partnership in Baltimore, where area private schools collaborate with public schools and other community organizations to create support programs for low-income middle school students and professional development for public and private school teachers.

(from left to right) Jacqueline Smethurst, Co-founder, Wingspan Partnerships; Al Adams, Former Headmaster, Lick-Wilmerding High School; Secretary Duncan; Jim Scott, President, Punahou School; and Roger Weaver, President and Senior Consultant, The Weaver Group and President, The Crossroads Community Outreach Foundation.

Another successful example of private-public school collaboration is Horizons National, which is a national network of partnerships between private and public schools that provides multiyear summer enrichment programs for low-income students. In other private-public school collaborations, private school associations, such as the Hawaii Association of Independent Schools, offer coaching, mentoring, and consulting services to public charter schools.

Public-private partnerships such as Private Schools with Public Purpose are a “collective brain trust,” Secretary Duncan told ONPE conference attendees, with such partnerships offering a “huge potential” to improve achievement for high-need students. He encouraged private schools to dedicate resources to assist underperforming schools in high-poverty areas to produce results and ensure all children receive a high-quality education.

To learn more about public and private school partnerships, visit:

Contact the ONPE, ED’s liaison office to the non-public school community, at ONPE@ed.gov for additional information.

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Public-Private Partnerships Leveraging Resources for Student Success

Building communities of collaboration on behalf of America’s most vulnerable children is the reason that Secretary Duncan praised public-private school partnerships at the recent Annual Private School Leadership Conference, hosted by ED’s Office of Innovation and Improvement’s Office of Non-Public Education (ONPE).

Duncan noted that independent private schools across America are partnering with public schools and other community organizations to address the academic and social needs of some of our nation’s most vulnerable children. One such example is the Private Schools with Public Purpose consortium, which encourages America’s independent and parochial schools to coordinate and leverage their resources, expertise, and experience with those of the public schools to benefit public school students and teachers.

During ONPE’s recent conference, a panel of PSPP leaders joined the Secretary and described partnerships across the country that aim to level the educational playing field for America’s young people. The panel highlighted the Middle Grades Partnership in Baltimore, where area private schools collaborate with public schools and other community organizations to create support programs for low-income middle school students and professional development for public and private school teachers.

(from left to right) Jacqueline Smethurst, Co-founder, Wingspan Partnerships; Al Adams, Former Headmaster, Lick-Wilmerding High School; Secretary Duncan; Jim Scott, President, Punahou School; and Roger Weaver, President and Senior Consultant, The Weaver Group and President, The Crossroads Community Outreach Foundation.

Another successful example of private-public school collaboration is Horizons National, which is a national network of partnerships between private and public schools that provides multiyear summer enrichment programs for low-income students. In other private-public school collaborations, private school associations, such as the Hawaii Association of Independent Schools, offer coaching, mentoring, and consulting services to public charter schools.

Public-private partnerships such as Private Schools with Public Purpose are a “collective brain trust,” Secretary Duncan told ONPE conference attendees, with such partnerships offering a “huge potential” to improve achievement for high-need students. He encouraged private schools to dedicate resources to assist underperforming schools in high-poverty areas to produce results and ensure all children receive a high-quality education.

To learn more about public and private school partnerships, visit:

Contact the ONPE, ED’s liaison office to the non-public school community, at ONPE@ed.gov for additional information.

View the original article here

Student Loan Locator

A student loan locator can be found on the Internet by getting referrals from the school the student wishes to attend, or by using a local bank depending upon one's preference. After a scholar has tried to get scholarships and grants to help fund his education, chances are he will still need additional funds. A student loans locator will help in these circumstances. According to one such online organization, Federal aid is available through Perkins, Stafford, and PLUS loans. Applications must be made between January 1 and June 30 for the following school year which includes the first half of the summer term. In four to six weeks, there will be a Student Aid Report outlining the amount granted, and outlining the expected contribution from the family. The locator organization points out that these loans must be applied for each year, and they frequently leave a tuition gap, which must be filled by private funding.

The organization selected to locate funding will direct an applicant to one of the large banks that offer financing via the use of the Internet online. Generally the same requirements are made by each of these lending institutions, according to the student loan locator, a scholar is informed about an institutions specific requirement. For instance, applicants must be a U.S. Citizen or permanent resident; must have a satisfactory credit history over the previous two years (or have a co-applicant who does); proof of income; and at least a two year history of activity if self-employed. After approval is granted for the first year, a satisfactory academic progress must be maintained for subsequent tuition payments to be granted. Several possible lenders will be available to the scholar through a student loans locator, so any variations in requirements and amounts can be studied for the best possible contract.

It is fair to note that included in the information by a locating organization for college funding is the fact that all these financing programs are made with a variable interest rate. The process of seeking funding via information provided by a student loan locator is not complicated, but must be begun early. As soon as a scholar has decided on a school and has been accepted, he should contact the student loans locator so that funds are available in time for registration. "If any of you lacks wisdom, let him ask of God, that giveth to all men liberally, and upbraideth not; and it shall be given him" (James 1:5). An organization that searches funding sources on behalf of the scholar takes some of the pressure off the student and his or her family when they have so many things to do getting ready for college. Every scholar would like a four-year scholarship, but few are actually going to get that kind of help. The search for funding Internet sites are there for those who are unsure how to make the tuition payments for an education.

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Student Loan Companies

A student loan company provides financing for people wishing to receive an education from a college or university. Student loan companies are in business to make money, but like any company they are willing to work with an individual to create a payment that will at least ensure that payments are made each month. The students goal should not be to deceptively get out of paying the balance owed, but rather to work with lenders so they will receive the money they provided and the individual will have a good credit score for making timely payments.

Lenders vary in rates, loan packages, and general ways of doing business. It is important to research many student loan companies before deciding which provides the best services for the individuals need. It is important to look at the interest rate, rules about taking classes, and deferment options. Often, a student loan company will require the individual to take 12 credit hours per semester in order for to receive assistance. Others may only require the individual to take one class. The individual must make sure they are involved with a lender that will work with their needs.

The chosen lender should be one that can be easily contacted if there are problems with funding or any further issues or questions that need to be discussed. If a person is unhappy with the service or funding they receive from a student loan company, they have the option to switch to other lenders that may offer better programs or services. It is important to talk with the various student loan companies to learn about the different programs that are offered. The individual might find programs that offer discounts based on high grades, educational fields, or other details. Financial assistance can be found from many places other than the traditional companies that most people use. A local bank might offer options that are more appealing for the individual.

"Give instruction to a wise man, and he will be yet wiser: teach a just man, and he will increase in learning" (Proverbs 9:9). Financial aid programs and packages for college education provide opportunities to people who may not be able to pursue a degree otherwise. Student loan companies offer a great service to society by offering the funds to put individuals through college. As a student, it is important to take advantage of financial aid, but understand the interest rates and other fees that might accrue over time. Gaining knowledge on repayment, budgeting, and a variety of financial aspects will allow the student to make wise choices when it comes time to repay these debts and obligations.

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Direct Student Loans Consolidation

Direct student loan consolidation organizations vie for a student's business in this day and age when the major source of funding for a higher education is through educational lending. Every year a college attendee must reapply for borrowing, and many times throughout a student's educational career, their college lending is bought and sold, resulting in a mess of different options, a variety of payment amounts, and repayment schedules. Direct student loans consolidation can ease the burden of such disarray and allow the borrower to make just one monthly payment to one lender.

The most popular consolidating organizations are those that receive guaranteed government funding. Some private direct student loan consolidation groups have insurance from organizations up to a certain limit, and therefore must allow certain restrictions and limitations with their deferment options and repayment terms. The best organizations allow for deferment periods indefinitely while a student is enrolled in school. Some direct student loans consolidation require that a college attendee be enrolled in a degree seeking program not to exceed 4 years, while others allow a flat 3 year deferral and never more.

Government sponsored and guaranteed programs allow repeat consolidating if the student takes out another amount at a later date to pursue their education further. When this happens, a new loan is formed, including the offering of a new deferment period. This deferment period is especially essential to borrowers and could make the difference in selecting one direct student loans consolidation program over another, far more than the interest rate. Borrowers opting for a better deferment or forbearance period should stay within the government guaranteed participating lenders. These lenders offer no time limitation of in-school deferment periods, as long as the student is enrolled half time, and as long as the school participates in federal financial aid programs.

These lending programs utilizing the governmental guaranteed program do have maximum limits. These limits can be stretched into a repayment term not lasting longer than 25 years and usually carry the absolute lowest interest rates. Students choosing the government direct student loan consolidation programs need to be aware that just because the government guarantees the program, doesn't mean the government is responsible for repayment. When a Christian borrower makes a promise to pay, that promise is first to God. The Bible says in Ecclesiastes 5:4-5 " When thou vowest a vow unto God, defer not to pay it; for He hath no pleasure in fools: pay that which thou has vowed".

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Guaranteed Student Loan

A guaranteed student loan is a loan that is backed, or guaranteed, by the Federal Government and extended to college and university students. Through this means, students can qualify for financial aid and the government guarantees that the college will be paid. Each state has a service that provides distribution and management of federally guaranteed student loans. The very latest information from colleges in each state regarding federal financial aid, can be found online by searching for the particular state's requirements.

Most colleges will encourage students to investigate several financing options before applying for Federal Student Aid with a Free Application for Federal Student Aid (FAFSA). There also are grants and scholarships that can help to pay for attending college. Therefore, financially responsible kids and parents should consider the responsibility to exhaust all avenues possible, before applying for a Federal Stafford Loan with an FAFSA. While this is a guaranteed student loan, there are special considerations with interest fees and payments with a Federal Stafford guaranteed student loan. They do not require payment until six months after graduation from college. However, some exceptions to the rule, include leaves of absence and dismissals from the college campus. Generally, these loans have variable rates for interest fees.

The application for assistance with college education can be filled out and submitted to any college. The extensive application is online or can be gotten from the financial aid office at the college. These applications for guaranteed student loans ask questions about a family's finances, and should be completed with as much detailed information as possible. Also, families are encouraged to read all documentation and to completely understand the promissory note, including personal rights and repayment strategies, because the guaranteed student loan must be repaid.

With college costs seemingly increasing each academic year, families may need additional help paying for education. An advantage therefore, with this financing option, is that payments are not due until after graduation, although they will need to be made. Defaulting on guaranteed student loans can result in damage to a credit report and compounding interest and late fees. There even can be serious consequences with tax returns and refunds. In some cases, the federal government can have a paycheck garnished to repay the debt. Careful consideration is therefore advised, before applying for the money to cover tuition, books, and living expenses. "Only by pride cometh contention: but with the well advised is wisdom" (Proverbs 13:10).

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The Different Types Of Citibank Student Loans

Financing higher education may seem like a nightmare for some. However, for those looking into student loans, there are several types offered by Citibank that may meet your needs. Depending upon the state that you live in and the type of degree you are seeking, you could find Citibank student loans that meet your exact specification to further your education. By researching what is available and meeting with a representative of Citibank, you can decide on a student loan to help make your education goals become a reality.

Citibank student loans are labeled as CitiAssist loans and are generally divided among different career paths. Each sector has its own benefits for those pursuing their particular field of study. For those seeking undergraduate and graduate degrees, CitiAssist offers private loans to cover all kinds of expenses associate with going to school. Books, computer and tuition can all be covered with this type of loan from Citibank. With flexible financing, competitive APR rates and no loan fees, students are offered a way to finance their education rather reasonably. Another advantage is the ability to borrow up to the cost of your education less any kind of federal funding you have received.

For those who are pursuing a medical degree or any kind of health profession, Citibank student loans geared toward this field are available. Competitive APR rates, flexible financing and co-signer benefits all are included with this particular loan. The fields of study approved by Citibank include allopathy, dentistry, optometry, osteopathy, pharmacology, podiatry and even veterinary medicine. You must be at least a part time student to take advantage of this type of loan and there are no required payments you must make while in school.

The third type of student loan offered by Citibank is one built for those seeking a law degree or profession in the field. Like the undergraduate, graduate and health degrees, competitive APR rates and flexible financing come as part of the package deal. There are no payments required while in school or after graduation during the nine month grace period. Another feature for law degrees is there are no loan fees as well. You must be a part, half or full-time student to apply for Citibank student loans built for law degrees. When you are ready to take your bar exam, there is a CitiAssist bar exam loan available to you from your third year through the final year of your schooling. This also extends through to a year past graduation.

Alexander Sutton knows all too well how hard it can be to get started in the professional world. But now that he's established himself he'd like to share both his successes and failures in order help others enjoy the most efficient route to success. For more information, please visit Citibank Student Loans.

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Student Loans For Living Expenses

Student loans for living expenses can be received through the approval of a private lending institution and not guaranteed by the federal government. Borrowing while in college can cover such expenses as an automobile purchase, gasoline costs, childcare costs, rent, utilities, tuition, books, food, etc. Government guaranteed loans are not for bills and other costs as the funds are to be spent on tuition, book, dorms, and in some cases childcare costs. A student loan for living expense can be obtained through any lending institutions such as a bank or credit union. These lending institutions need confirmation of enrollment at a qualifying college or university before funds can be distributed.

Typically, borrowing such as this requires a co-signature, and thus co -responsibility of a parent, spouse or other friend or family member willing to share in the repayment obligations. This co-signer should have adequate income to repay the funds, since it is assumed that the borrower will be a full time student. Repayment usually begins on a student loan for living expense anywhere from 6 months -2 years after loan disbursement, but could be deferred up to 4 years while the student is still completing their education.

Caution should be taken when deciding on applying. Combining the costs of living and tuition together will require the student to take out some very high student loans for living expenses. By the end of the student's educational pursuit they could owe well over $100,000. This is the average price of a home is some geographical locations. A student loan for living expense should be used for mandatory living expenses only, as it is a loan, and must be repaid. Borrowers need to be honest with their lenders. "Remove far from me vanity and lies: give me neither poverty nor riches; feed me with food convenient for me" (Proverbs 30:8).

The incompletion of a college program will not render lending void, so the borrower must be sure of his/her intentions and major before applying for any student loans for living expenses. In addition, applicants may qualify for governmental grants or scholarships. Adult students returning to school have a wide variety of financial aid options concerning the upkeep of a home and family while simultaneously trying to improve their mind. Student loans for living expenses should be carefully reviewed and the lowest interest rate sought in order to benefit the most.

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Get Rid Of Student Loan

Get rid of student loans by either creating a budget where significant payments can be made on account balances each month or look into debt consolidation. To get rid of debts borrowed for educational expenses, the borrower needs to be dedicated to the goal of repayment without recurring the financial situation. This may sound easy, but there is always somewhere else that the money could go instead of paying faithfully on student loans.

Creating a manageable budget is one way to get rid of student loans. This would include being serious sticking to the plan. If it seems impossible to pay off large amounts of student loans, but don't want them to go to collections it is necessary to 'buckle down' and try to make the most of the money being earned. One way to create a budget to separate everything into percentages. Figure in all fixed expenses like rent and car payment and write them down. Figure out what percentage of total income they represent and go from there. The average person spends 125% of their income. Being dedicated to the goal to get rid of a student loan will enable following a budget much better than someone who half-heartily decides to create a budget.

Debt consolidation or debt settlement is another way to get rid of student loans by lowering the payments on the debt. Debt consolidation will allow grouping all debts into one debt hopefully at a lower payment. If serious about eliminating education debt, but just can't come up with the money this is definitely a viable option. Eliminating educational financial aid indebtedness is a great relief not only financially, but also emotionally. If a reputable company is contacted that will help prepare a plan for how to get rid of a student loan, the borrower can start to feel better about their education and the new income being earned.

Federal student loans are still due and payable in the event of filing bankruptcy. It is important not only get rid of student loans, but also make sure that it is being done in a way that is ethical. To get rid of a student loan by not paying on it will not exclude these funds in a bankruptcy situation. It is important to trust that God has put the graduate into the place and career He wants and He can therefore be trusted to provide for the repayment and elimination of the debt incurred while in school. Believe that "I can do all things through Christ which strengtheneth me" (Philippians 4:13).

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Student Loan Consolidations

Student loan consolidations may be what you need to find your way out of the pile of debt you accumulated in your college years. Perhaps your debt has become so massive that you fear you will never get from under it. Each month you accumulate more late fees and penalties. The interest rate you have on your loans is outrageous. With a student loan consolidation, you can solve many of your financial problems and begin to see your way clear. These types of loans are now available over the Internet. You can apply for this kind of financing at any time of the night or day!

Have you noticed how the interest rates have dropped over the past few years? Interest rates are now lower than they have been on the average over the past forty years. Your parents probably never dreamed they would see interest rates this low. You can take advantage of these low interest rates by applying for a student loan consolidation. Getting help can make your financial picture brighter immediately. What are you waiting for? You could be paying off your debt right now! You could be enjoying those low interest rates instead of paying outrageous rates.

Student loan consolidations are available to you no matter what credit rating you have. If you want to begin repairing your credit rating, consider consolidating your debts. You can refinance various student loans, and a big advantage is that you will have only one payment per month, which will be lower than the sum of all those payments you make right now. Another plus to consider is that with this kind of loan, you will rid yourself of those calls from collection agencies and letters regarding your late payments. Additionally, you will have the satisfaction of knowing that not only are you are messing with your financial future, but you are instead improving your financial situation.

Perhaps you haven't found that perfect job as quickly as you dreamed you would. Or perhaps you didn't expect that an entry-level job in your career field would pay this low. Or maybe the expenses of your college days just got a way from you and now you groan under a mountain of debt. Whatever your reason, you can apply for a student loan consolidation and begin your pathway to debt-free living. These types of loans are easy to apply for and quick to complete because you can apply from the privacy of your home or office computer. No convincing a bank loan officer of your trustworthiness. No filling out piles of forms. So what are you waiting for - get started today with a new sense of financial freedom.

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Private Student Loan

Private student loans are a smart way to finance a college education with the benefits of competitive interest rates and deferred payment plans, usually based upon credit worthiness, with proof of income required. For the borrower who is self-employed, being in business for at least 2 years is necessary for approval. Borrower must be a U.S. citizen or permanent resident in order to qualify. Foreign students applying for a private student loan may need a co-signor who is a U.S. citizen or permanent resident. There is a maximum amount that can be borrowed. This financial aid will not be taken into consideration regarding approval and the amount of financial aid received will not affect the amount to be loaned.

Repayment plans vary, and the options usually include immediate repayment, due 45 days after last disbursement; deferred repayment which begins 6 months after graduation; or pay interest while enrolled in school and begin repayment of the principal after graduation. An undergraduate program may include no payment up to 4 or 5 years. A graduate program may include no payment up to 8-1/2 years based upon internship or residency requirements. A certificate program will depend on the certificate and the time to completion for repayment of private student loans. Most lenders offer up to 20-year terms for repayment on a private student loan. There are usually no prepayment penalties and, origination fees are usually charged by the lender and added on to the loan. These fees are based upon a percentage that varies depending on payback options.

To apply online is very easy with an online application. It is important to know the school of choice information when applying for private student loans. The lending institution will need to know the information and must have the school on their approved lists of schools. Online applications include fast fax back options that make the process fast. When applying for a private student loan it is a good ideal to know the degree program desired and the time it will take to complete the program. Having communicated with a school enrollment counselor will help the student to make these decisions and have this information available to the lender at the time of application. This will speed up the process. "How much better is it to get wisdom than gold! and to get understanding rather to be chosen than silver!" (Proverbs 16:16)

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Student Loan Consolidation Companies

Student loan consolidation companies help graduates consolidate their financial aid obligations into one amount at a reasonable interest rate. Typically, college students finish college with multiple loans. A lot of these loans are from different lenders and are at different interest rates. With a student loan consolidation company, students can change five payments into one and possibly cut down on the overall total they are paying each month. For this reason and more, it can be very helpful for graduates to work with lenders to consolidate.

Before finding a student loan consolidation company, it is important for the individual to gather all of the information on their debt. They should know the lenders, terms of agreement, monthly payments, and interest rates for each. The graduate will have to provide this information to the student loan consolidation companies. Also, they will need to know this information to compare offers and quotes to the rates and terms on the current obligations. It is important to aim for an interest rate that is lower than current rates. The individual should be prepared to have their credit checked along with employment status verified. Applying with a lender to consolidate payments is just the same as applying for any loan. The lender wants to know that the individual is reliable and not a risk.

A person will probably want to begin searching for lenders that offer the option to consolidate before graduation. The college financial aid office can recommend a good lender. If possible, the individual should plan to consolidate as soon as loans come due - typically, payments begin six months after graduation. If the graduate is far beyond that point, they can still call the college's financial aid office for advice. Asking friends, former classmates, and other graduates which student loan consolidation companies they have chosen, will also provide some help and insight into a good service to pursue.

The next step to finding student loan consolidation companies is to check on the Internet. Many states have college foundations or education information websites. These are particularly helpful when looking for a lender referral. Also, an individual can use a search engine to find a national student loan consolidation company. There are more than enough choices available. It is important to be discriminating when choosing the best one. The individual should be very concerned about fees, rates, terms, and penalties that are included in the consolidation process.

Working with a student loan consolidation company is probably one of the wisest choices a person will make coming out of college. This can save hundreds of dollars in interest and possibly shave years off of the terms of current obligations. The key is to work hard at paying off the education debt that has accrued over time. The individual must realize they made a promise to repay the debt by signing promissory notes. "Sanctify them through thy truth: thy word is truth" (John 17:17).

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Student Loan Deferment

Getting a student loan deferment is an option provided to new college graduates who find that the repayment of their student loans will be hindered in some way. Since the period of grace on student loans following graduation is six months, the primary reasons to ask for student loan deferments are usually a situation of being unable to get a job. Other reasons are that although a job is secured, the pay is insufficient to meet the amount of the payments established by the lender. Another cause for requesting a deferment would be emergency circumstances such as health problems or medical bills. Circumstances can vary greatly between requests, and the lender is usually accommodating, subject to viable proof of need.

Lenders realize that not all graduates will be able to meet the amount of scheduled payments when they end their six month grace period. It isn't an uncommon request to have student loan deferments requested. It isn't a privilege to be abused however, and the lenders will require specific documentation to approve. Also, the conditions of economic hardship or lack of full-time employment are only eligible for student loan deferments for up to three years. Continued study at least at half-time credit hours or in a graduate fellowship will also qualify, but proof of enrollment is required each semester.

If the repayment period has begun, it is important to continue to make the monthly payments until the request for a student loan deferment is approved and documented. Otherwise, if the payments are stopped prematurely after the initial filing for, the loan will be considered to be in default and the problem now becomes accentuated for the borrower. Staying in close contact with the lender is an all important issue to assure that requests are approved and completely in place before stopping the monthly payments.

Getting financial aid to assist going to college is a privilege not to be abused or taken for granted. These loans are special by their deferred nature and lower interest rates, and their use is to be carefully undertaken. Requesting a student loan deferment is not a reason to think that the loan can be ignored forever, either. It is simply another special opportunity to better oneself through the higher education they afford. Repayment is a responsibility to be fulfilled, even if it "hurts." Jesus knew the difficulty of fulfilling a responsibility, even unto death as repayment, and in His case, FOR someone else's debts. But He noted, "Think not that I am come to destroy the law... I am not come to destroy, but to fulfill" (Matthew 5:17). He paid for our debts by doing it by the law. Therefore no one could give an excuse that would deter His purpose.

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Personal Student Loan

Personal student loans can help a coed finance the education needed to start a new career or move up the professional ladder of success. These contracts come from different sources and can be used in many ways and require specific qualifications. Most personal student loans require the person to attend classes, at least part-time, in order to qualify. They are available through the government, local banks, and online. The first place to search when looking for these types of funding is at the educational institution the coed is planning on attending. Most schools gladly help applicants fill out forms, provide paperwork verification, and do whatever is necessary to help them get a personal student loan.

Some people think that getting a personal student loan is a bad idea. For some, that's true. A wise borrower carefully considers all the options before entering into a contract. If the education gained will allow the borrower to enhance employment opportunities and make more money, than certainly it's a good idea. Make sure that the school is accredited and the professional field is feasible. Look for the lowest interest rate available and endeavor to pay the money back as quickly as possible after graduation.

Gaining wisdom and knowledge is never a bad idea. Proverbs 1:7 says, "The fear of the LORD is the beginning of knowledge: but fools despise wisdom and instruction." Our first source of knowledge is God, the creator of the universe and the one who knows the future. When an undergraduate uses a personal student loan to better himself and increase his self-confidence, that is a wonderful idea. But just because the contract is for education, doesn't mean that it is a sound financial decision. The borrower will have to pay back the money in the future. A wise borrower reads all the information he can find about the contract and understands all he is signing. An unwise person could get in over his head and spend the next ten years repaying a personal student loan because he didn't read what he signed. Some people are attracted by the low interest rates offered and neglect to consider the impact it could have for years to come. Prayerfully consider the decision to take out personal student loans. Only God can lead us into the right financial decisions. When we follow His leading, we will avoid many of the financial errors that come our way.

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Repaying Student Loans

Repaying student loans is a necessity if borrowers want to be responsible and maintain good credit ratings. It is wise for students to make the most of their repayment schedule and to set up a budget to help plan. Repaying a student loan can be a positive experience if the individuals are organized about how they will do it. Of course, the first step is to generate income by having a job. However, making a plan to repay is something that can be considered well before graduation. In fact, if it is possible, borrowers are encouraged to start making payments before they are charged much interest.

Some may think that making payments before graduation is a silly idea, but the agreement is that there are no interest charges as long as the borrower is in school. Therefore, if the student can make just small payments toward repaying student loans, he or she will be making significant long-term progress toward the overall amount that needs to be repaid. Another option is to put some money away each month in a high-interest savings account or certificate of deposit (CD). This way, the saver will be gaining interest on the money, but could still access it if an emergency arises. When the time is right, the entire account can be closed, the monies withdrawn, and the whole amount can be put toward repaying a student loan. Seeing a big chunk immediately applied toward the balance can be extremely motivating.

When weighing options for repayment, it is important for students to consider what the likely salary range is for the first job they will get after graduation. It is important to be realistic. If the goal, for example, is a teaching job with a salary in the $25,000 to $35,000 range, then the amount paid toward debt will not likely be high. However, graduates can make short-term and long-term plans to help them stay on track and eventually pay off the debt. Repaying student loans should be a priority, as with any debt that is incurred.

If the borrower is ever in financial strife (if an emergency arises or a period of unemployment occurs), he or she can always ask for deferment from repaying a student loan. This means that payments will not need to be made for a certain agreed-upon amount of time, such a three to six months or even twelve months. However, the interest will still accrue, so deferment ought to be a last option. If students have more than one account, consolidation should be considered as a viable option to decrease monthly payment amounts and save on interest charges.

It is important to have a mindset that repaying a student loan is really investing in the future. Without the loan, there would be no degree and thus, the future would be bleak. This will help keep a positive attitude about repaying student loans. People who are having trouble budgeting money to repay their loans should seek wise counsel in the matter. "Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal: But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal," (Matthew 6:19-20).

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Student Loan For College

Student loans for college are necessary for a lot of families, and the sources are numerous, depending upon how much the family can contribute toward a student's education and the credit standing of the borrower. Students can get information on a student loan for college through the school they plan to attend, by contacting their bank, or by looking on the Internet. Federal loans are often the first place families look, and student loans for college are available through the Perkins, Stafford, or PLUS funding programs.

A loan from any of the federal sources has a low interest rate, which is attractive, but there is red tape involved. This money must be applied for between January 1 and June 30 for the fall academic year. In April the awards letter go out, and if the student loan for college is offered, it will be for approximately one-half of what is needed. The family is expected to pick up the rest. Education is important at home and in a university. Proverbs 22:12 instructs parents to "Train up a child in the way he should go: and when he is old, he will not depart from it."

In the years between 1993-94 and 2004-05, the cost of attending a public universities has gone up 51.4%, and private universities have seen an increase of 61.7%. Parents hope their children will be eligible for a full scholarship for college, making this type of funding unnecessary. However, the chances of that occurring are not high. Those who must borrow all or part of the funds needed for college often turn to private lenders. The cost will vary according to the credit rating of the borrower. For someone beginning payments on student loans for college immediately after disbursement rates can vary from 1.5%-10% depending on credit score. Interest rates are calculated monthly, but payments can be extended for a period of four to twenty years with this kind of student loan for college, and no family contribution is expected.

Still another way to obtain this funding is a home equity line of credit. Amounts are available up to the amount of equity the homeowners have in their place at a low interest rate, and they are deductible at income tax time. This is probably a last resort kind of student loan for college for most parents because it places a lien on their home, and if payments are not made for any reason the lender can foreclose on the house. There are enough options for student loans for college that most students who desire an upper level education can get one.

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Student Loan Consolidation Programs

A student loan consolidation program provides the opportunity to pursue financing with lower monthly payments and can be found through many educational and financial institutes. They provide the opportunity to receive lower fixed interest rates on outstanding debts and is a great opportunity to repay outstanding debts sooner while saving money in the long run.

Many federal, state, and local companies will provide this option and the information can be obtained through a myriad of different lenders. More often then not, the schools themselves, through financial aid programs, can provide information on consolidation of debts. Through a student loan consolidation program, one has the ability to take all the loans that have accumulated over the years and replace them with one at a single rate versus several with differing rates. With the many companies and terms that are offered with student loan consolidation programs, it is more than feasible that the best rates and terms can be obtained.

Many times, upon graduation, employment may not be available immediately. While the job search process takes time and money, student loan consolidation programs can offer the benefit of paying one monthly payment instead of numerous payments that often have been accumulated through years of college. The option provided by a student loan consolidation program offers the individual a lower monthly payment and the ability to write one check instead of maintaining information on every separate one that has to be repaid.

Lower interest rates is an attractive incentive to take advantage of consolidation. Many student loans have high interest rates with a short time period to repay. Often, student loan consolidation programs can offer a much lower fixed interest rate and a longer period to repay the loan, usually double the original time offered. While this may make the total amount to more to be repaid, it allows the individual to pay less per month, especially in the beginning when a job may be hard to find.

Finding oneself out of school and without employment and/or a regular salary coming in be scary place to be. With debts looming over, student loan consolidation programs are a wonderful option for those individuals with loans to repay. The lenders that work with these financial programs can offer lower monthly payments and lower interest rates, if the individual is willing to lengthen the term of repayment. Christians needing to repay student loans also have the option of pursuing a student loan consolidation program. In gathering information and determining the best choice, it is always important to ask God for answers. The Bible says, "Commit thy way unto the Lord; trust also in him; and he shall bring it to pass." (Psalm 37:5)

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Student Loan Debt Elimination

Student loan debt elimination is the goal of any and every college student who has become inundated with educational debts. The cost of attending a four year university or private college has increased every year due to the cost of living, salary increases for professors and maintenance costs. With the increase of costs annually it becomes a full time pursuit for the college graduate to repay educational debts. To achieve student loans debt elimination of monies owed, the graduate must exhibit extreme determination and dedication to this goal.

While state community colleges and four-year universities have a manageable tuition, private institutions have annual salaries as their bottom line cost. Tens of thousands of dollars are charged for many private colleges each semester, and even the best financial package will not cover the entire cost. Student loan debt elimination for the higher end will take years to pay off, but if the student starts with consolidating all the financial disbursements, the actual monthly payment can be managed or an optional repayment plan can be set up with the lender. The truth is the lender wants the graduate to succeed in repaying them, so they will give and take a little to make sure the process will work for both parties.

Lenders of Stafford financing for instance, will provide the documents compiling all Stafford subsidized and unsubsidized loans into a total amount to be repaid. These will be amortized over the appropriate period of time that the student loan debt elimination qualifies for, usually 20 - 25 years, based on the consolidated total.

The repayment process will offer graduates several options to choose from. The equal monthly repayment; an option of paying only interest for the first two years at a reduced payment amount then converting to a slightly higher amount on the third year; another option will do the same interest only payments for the first two years, a slightly higher student loan debt elimination payment from years three - five, then a bit higher payment from year six. For student loans debt elimination that require special attention, there are a couple of other options through Income Sensitive and Extended Repayment plans.

Repaying the costs of higher education can be one of the higher debts a person ever repays. But the benefits of a higher education are well worth all the effort student loans debt elimination requires. It is important to first realize the seriousness of the debt when first signing the financial aid request. The debt will be waiting for the graduate when they complete their schooling and as Christians, it is important to repay debt of any sort: "Render therefore unto Caesar that which is Caesar's; and unto God the things that are God's." (Matthew 22:21) There is no excuse for shirking the repayment of any loan, even a student loan.

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International Student Loan

International student loans allow students the freedom to travel in their studies without worrying about the overwhelming costs right away. With an international student loan, students can pay off tuition gradually over a number of years after they graduate with their degree. These are especially attractive to those who intend to travel to the United States to study or Americans who intend to study abroad. Each international student loan is different and each lender has specific requirements. Learning about each of them will make the process go smoothly.

Like other financing, international student loans can be paid off over long periods. Most lenders will allow up to 20 years or more to pay it back. There is, however, an interest rate attached, but often it is considerably low compared to other types of loans. Plus, one could always consider consolidating it with other debts in the future to get a lower interest rate.

Many lenders will require that international students borrowing money to come to America must apply with a United States citizen co-signing. The United States citizen must make a minimum amount of money each year. Should the student default on the international student loan, the co-signer will be equally responsible for paying it back. American students who don't have a good or solid credit history will have to attach their parent's name to the loan. This will increase their chances of being approved and increase the amount granted.

Being able to study abroad can boost a student's education and increase their career opportunities. Studying abroad can be especially helpful if majoring in a specific language or wanting to study where that language is primarily spoken. Also, studying abroad can be invaluable if majoring in a particular culture, country's history or literature. Living in that country can give priceless experience. These are the types of ventures that international student loans would fund. They provide the money for books, tuition, and living expenses to make studying abroad possible.

To find international student loans, check online. If currently attending college, check with the college's financial aid office and speak to an advisor to see what student travel opportunities are available and how to fund them. Use only known and reputable lenders for any type of financing. If a potential co-signer is available, discuss the decision with them and make sure well in advance that they are willing to co-sign. Most importantly, pray about going abroad. "Thou shalt guide me with thy counsel, and afterward receive me to glory." (Psalms 73:24)

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Fixed Rate Private Student Loans

Fixed rate private student loans offer coeds the opportunity to stay at one interest rate and not fear that they will be forced into a higher interest percentage due to inflation or the crash of the economy. It is important to track the history of interest rates to understand the advantages and disadvantages of these types of contracts. With the world changing so quickly and dramatically, the economy has fluctuated so much that it is hard to determine when percentages are at an all time low. Therefore, when a coed locks into a fixed rate private student loan, he cannot be certain that the percentages in the next month (or sometimes the next day) will not be lower or higher than the one he has locked into. Fixed rate private student loans are good for people who will be paying off their contract over a substantial amount of time. If an applicant feels that there will be continued funding or that the payoff may not happen for a while, it may be wise to stick with a stable percentage.

When choosing between fixed and variable rates, it is important to know what the whole package is. For example, if a coed gets a fixed rate private student loan and later finds out that it would be better to have a variable, what are the penalties that he will pay in order to change the terms? So when an undergraduate is deciding whether to look at a fixed rate private student loan, he should consider all the options and terms. This includes the percentage at which the contract is locked into, the repayment schedule, and penalty charges. If a person is going to keep the contract for three years or more, a fixed rate student loan is probably the best way to go. If the person intends on paying off the balance in under three years, a variable is probably better.

The Bible cautions believers about borrowing money. Proverbs 22:7 says, "The rich ruleth over the poor, and the borrower is servant to the lender." For those who can't afford to get a higher education, fixed rate private student loans may be the answer. However, a person headed for graduation needs to evaluate the future, assessing the salary he will receive in his career field, and comparing that to the indebtedness he is planning to acquire. A person going into a field that pays about $30,000 per year is not wise to accumulate $100,000 worth of debt. The wise borrower checks carefully at the terms, costs, and the monthly payment he will incur. That person will also take his decision to the Lord in prayer.

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