2016 Kiwanis Club of Sandwich Scholarship
The Kiwanis Club of Sandwich is offering a scholarship to graduating seniors. The application deadline is April 17, 2016. Selection criteria for scholarships are based on an applicant’s service to the community and family, participation in high school activities and...Student Loans for Bad Credit
Can I get a Student Loan with Bad Credit?
If you have bad credit, you may be reluctant to start a college education for fear that you won’t qualify for a student loan to pay for school; but fear not! If you have bad credit, you have several options for getting a student loan. Federal loans and private loans (with or without a co-signer) are avenues to pursue to help pay for school.
Federal loans, both Stafford and Perkins loans, are available for students with bad credit. These student loans for bad credit are ideal for nearly all students, including those with bad credit because they are easy to obtain, offer low interest rates, and have flexible repayment terms. Generally, repayment is not required until after graduation so the chance that you will have a better job making enough money to afford the monthly payments of these student loans is pretty good.
Direct Student Loans
What are Direct Student Loans?
Direct Student Loans are funds made available to students and parents to help pay for college. Direct student loans are low-interest loans, and while the lender is the U.S. Department of Education, individuals may work with a private business who releases the funds or directly with the federal government. Direct student loans include subsidized, unsubsidized, and parent-only loans. These loans are simple to apply for, and unlike other forms of financial aid, are not based on financial need. These funds must be paid back after graduation; however, there are payment programs, opportunities to consolidate multiple loans, and loan forgiveness programs for qualifying individuals.
Student Loan Consolidation
What is Student Loan Consolidation
Student loan consolidation combines all your student loans and often lowers your monthly payment. If you spent four or more years in college, you are likely to have a number of student loans from subsidized to unsubsidized, Stafford and Perkins loans, and perhaps some privately-funded student loans as well. After graduation, you enter the repayment period and each loan requires a monthly payment. Not only can keeping track of several (or more) monthly payments be difficult, each loan’s minimum payment may become a financial burden when they are added together each month.
Consolidating your student loans is a lot like consolidating any other debt. A new loan is taken out to pay off all existing student loans so that only one monthly payment is made each month to the new lender. There are many benefits and a few disadvantages to this option so be sure to consider your options carefully as student loan consolidation is not required.
Scholarships for Minorities
Finding Scholarships for Minorities
Finding scholarships for minorities is just like finding any other scholarship, except these types of scholarships are given to individuals meeting specific conditions such as race or ethnicity. Scholarships for minorities are meant to help individuals pay for college. Since minority students are generally underrepresented in colleges today, there is a wide range of scholarships available to help offset the cost of a post-secondary education.
Take a few moments to talk with your high school guidance counselor or financial aid officer who should be able to recommend at least several minority scholarship programs. These individuals can also help you gather documentation you may need to apply for scholarships, such as letters of reference and school transcripts.
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