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Saturday, 03 November 2007 |
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By Peter Kenny
 All prospective college students should be in the position to make an educated decision about how to finance their higher education. There are many different kinds of student loans available, and this may make the choice more difficult. But by becoming educated about the differences among the various loans, it will be easier to choose the best loan for you.
Private and Federal Student Loans
The most basic way to categorize student loans is by separating them into federal and private loans. Federal student loans are provided and supported by the federal government. Private banks may fund some federal student loans, but even in these cases the interest rate, fees, and maximum amount are set by the federal government.
Private loans are provided by private lending institutions. Private student loans usually have higher interest rates than federal student loans. Private loans also have a more stringent approval process and usually require a good credit rating and a minimum income level.
Types of Federal Student Loans
Federal loans can be further categorized.
Stafford Loans |
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Last Updated ( Saturday, 03 November 2007 )
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Friday, 02 November 2007 |
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By Tom Dawson
 While savers are often applauded for their self-control in putting money aside, it may be the case that a large number are not the brilliant budgeteers they claim to be.
According to new research, around two-thirds of savers admit to looking to their savings when they want to buy themselves a treat, rather than starting a separate fund or sourcing money from elsewhere. Price comparison site Moneysupermarket has published the results of a survey indicating that many regularly raid the piggy bank to buy things which might be better funded by cheap loans.
The habit would be less surprising should consumers be saving in order to purchase high-value items or explicitly to fund such personal rewards - but in many instances this is not the case. Some 54 per cent of people stated that they save for peace of mind should unexpected expenses arise, while almost the same number (53 per cent) were saving for the future or for their retirement. Furthermore, consumers are not raiding their savings to cover the cost of unforeseen necessities such as repairing or replacing a |
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Last Updated ( Friday, 02 November 2007 )
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