Thanks to the Government, Student Loans Are a Better Bargain
Government reaction to the credit crunch makes federal programs the way to go this year
Reader Comments
Aide to pursue education
For any student who lacks the financial capacity couldn’t afford to pursue college education without the aid of the loan institutions.. Study now pay later program truly support the deserving but indigent ones. Thanks to the loan company’s which serve as their aide in attaining their desire. Many people love pork and pork products like bacon, ham, ribs, but not when it means government spending the nation’s cash in earmarks and easy loans that don’t benefit the majority of Americans. Well, groups like ACORN have been pressuring President Obama for spending on their interests (again, theirs, not the majority of Americans) which would be considered anything but kosher. Some of these groups pegged to receive funds have had controversial histories and policy interests that aren’t exactly mainstream – or good for a lot of people.
Magical Thinking
As a Loan Counselor in a Financial Aid office, this article has many of the facts right, but also opens the door in student's thinking they can get a better loan than the private loans offered and recommended by their Financial Aid office. I recommend that students listen to their FinAid offices about private loans because there are many loans out there that have hidden fees and more frequent capitalization. Most students do not know how to interpret the fine print and only listen to the sales pitches of the loans sales force. They will sign anything as long as they get the loan they need now to pay for college. If the financial aid offices knew about better loans than the ones we are offering, we would use them. If it's sounds too good to be true, it probably is. Co-signers are a protection for the lenders and the borrowers so that they do not get in over their heads too early.
Dumb
Kim Clark should be fired!!!
Thanks to the Gov't, students are paying higher fees.
Thanks to the recent witch hunt put forth by Cuomo and his cronies, students now pay 1-4% for every loan they recieve. These fees used to be paid by the lender on the student's behalf - but no longer thanks to the subsidy cuts recently legislated. This results in anywhere from $100 - $750 a year in fees the student is borrowing but will never see. And guess where those fees go - to the feds. Lenders are dopping out of the federal loan program like flies, and those who remain cannot offer any benefits to borrowers.
GreenNote Loans
Please check a out new service -- GreenNote -- Low cost loans from your social network
- Low rates fixed at 6.8% (same as Stafford)
- Everyone qualifies
- Get your friends and family involved in your success
More information:
www.greennote.com
Also see a student who got a loan via our service - ABC story
http://abclocal.go.com/kgo/story?section=news/education&id=6286871
