Student Loan Corporations
By Nigel Kerry
A student loan corporation is a complete financial aid services company that manages loan applications of students and client accounts. There are also a number of student loan corporations that act as civic services and are a part of the state funded loan programs. An example of a student loan corporation would be the Kentucky Higher Education Student Loan Corporation which is a non profit student loan processing service works for the Kentucky State government.
Like other educational loan services, these student loan corporations give students advice on saving for a college education, choosing and applying for the right kind of student loan. They also give detailed and comprehensive information on repaying the loan and at times give options on how to apply for debt consolidation loans.
The Student Loan Corporation is a subsidiary of Citibank and is one of the leading educational lending institutions in the country. They manage the loan accounts of millions of students and thousands of educational institutions. At present, Citibank, in conjunction with the Student Loan Corporation, has joined forces with Yahoo to offer students an online Student Resource Center.
Any student loan corporation handles the business end of college funding. It is an enormous undertaking for each bank, college and university to manage their student loans. The technological demands of such an undertaking have increased the need to outsource data management and critical account services. The business of student loans is a specialized branch of the banking industry. Therefore, most private banks have also become involved in the student loan business.
About the writer: Nigel Kerry is an American free lance writer born in Los Angeles, California. Kerry writes Sportsbook reviews, sport book articles and articles with respect to Sports Betting.
Article Source: http://EzineArticles.com/?expert=Nigel_Kerry
Saturday, November 3, 2007
Thursday, November 1, 2007
Private Student Loan vs Federal Student Loan
Private Student Loan vs Federal Student Loan
By Oliver Turner
Federal Student Loan is the most common college student loan. There are mainly two kinds of federal student loans i.e. subsidized and unsubsidized.
Subsidized college student loan: Government pays the interest whilst the student is attending the college.
Unsubsidized college student loan: there is no interest free period and you will have to pay the interest with principal amount, after completion of education.
Not all students qualify for a federal student loan. In case when students are unable to grab a federal
student loan, there is another kind of student loan known as private student loan. Many lenders offer private student loans and the rate of interest vary greatly.
Private student loan also known as personal student loan or alternative student loan will help you paying the college fees, hostel rent, stationary and other expenses, at much competitive interest rates than credit cards. Nevertheless, private student loan should be only used when there is no option left. You should be very cautious while borrowing money from the lender, as you will have to pay it back with interest.
Qualifying for private student loan depends upon the credit criteria established by the lender. Credit criteria mainly differs with private student loan, whether the borrower is a parent or a student.
Here are some factors, which decide eligibility for a private student loan.
1) Your credit report
2) Your parents credit report
3) Delinquency problems
4) Excessive debt loads
5) A cosigner will be an advantage in getting a private student loan because when primary borrower fails to repay, that responsibility falls to the cosigner.
Before applying for a private student loan you should study the offers at your local financial institutions. Then compare this search with the offers made by the online student loan companies. Only then you will be able to know the best one tailored for you.
Find more about Student Loans on http://www.LeanderNet.com/Student_loans/Student_loans.php . More useful content on LeanderNet - http://www.LeanderNet.com
Article Source: http://EzineArticles.com/?expert=Oliver_Turner
By Oliver Turner
Federal Student Loan is the most common college student loan. There are mainly two kinds of federal student loans i.e. subsidized and unsubsidized.
Subsidized college student loan: Government pays the interest whilst the student is attending the college.
Unsubsidized college student loan: there is no interest free period and you will have to pay the interest with principal amount, after completion of education.
Not all students qualify for a federal student loan. In case when students are unable to grab a federal
student loan, there is another kind of student loan known as private student loan. Many lenders offer private student loans and the rate of interest vary greatly.
Private student loan also known as personal student loan or alternative student loan will help you paying the college fees, hostel rent, stationary and other expenses, at much competitive interest rates than credit cards. Nevertheless, private student loan should be only used when there is no option left. You should be very cautious while borrowing money from the lender, as you will have to pay it back with interest.
Qualifying for private student loan depends upon the credit criteria established by the lender. Credit criteria mainly differs with private student loan, whether the borrower is a parent or a student.
Here are some factors, which decide eligibility for a private student loan.
1) Your credit report
2) Your parents credit report
3) Delinquency problems
4) Excessive debt loads
5) A cosigner will be an advantage in getting a private student loan because when primary borrower fails to repay, that responsibility falls to the cosigner.
Before applying for a private student loan you should study the offers at your local financial institutions. Then compare this search with the offers made by the online student loan companies. Only then you will be able to know the best one tailored for you.
Find more about Student Loans on http://www.LeanderNet.com/Student_loans/Student_loans.php . More useful content on LeanderNet - http://www.LeanderNet.com
Article Source: http://EzineArticles.com/?expert=Oliver_Turner
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