Student Loan

There are a lot of different ways of funding your way through college.

You might be one of those students lucky enough to have a full

scholarship. You may also have rich or generous parents who are willing

or able to pay the bills.

However, many students are not so lucky. Most of the above funding

sources will only pay part of the bill, not the total. And even if you can

get all your tuition paid, you still have to come up with the money for

rent, books, entertainment and other living expenses.

Students have two options, there are:

1. Employment

You may be able to get a job. This is a good idea for all students, but it

is not always easy to do so. Some colleges are located far from towns

with employment opportunities. Sometimes employers are reluctant to

hire students as they usually cannot commit to full time work and will

likely not be around during holidays. If you do manage to get a job, it

will probably not be the highest paying job in the world, and you

shouldn't work more than part time. Remember that your main aim

during your college years is to get the best grades you can, and working

40 hours a week just to pay your tuition would be self-defeating.

2. Loans

So that means that for many students, the only method of paying for

college that will be available to them is to take out Student Loans.

Going into debt is always a commitment, and it can be especially

stressful before you have even started working and aren't certain how

you will pay back the loans. Student loans however, have a number of

advantages over regular loans. First of all the rates and terms are more

lenient. Student loans are likely to be at a much lower interest rate than

most loans that will be available on the market for other purposes.

They will also give you plenty of time to get on your feet and find a job

after you finish your studies. This means they are not going to be due

immediately after graduating.

Repayment periods on student loans are probably the fairest and most

patient you'll ever get in your life. These rates and terms reflect the

faith that lenders put in today's students. They know that ultimately,

college is a good investment and most graduates will be able to pay

back their debts if they are just given the time.