Students loans

Dear Friends
Surviving the student loan meltdown. I feel like were going back to the 70’s and 80’s. Remember those days when you had to pay cash for school? First off there are many different types of student loans, so I’m not going to go into them all. Applying online for a student loan is silly since most banks are automated. If you make a mistake you will get turned down automatically.

If you’re planning on going to a school, the first thing you need to do is get accepted to that school.Once accepted, you can move forward in the admissions process. There are so many student loans and grants available that you MUST meet with the school’s adviser. My advice on student loans is NEVER give up. Some career schools will give you a direct loan. Also, most of the banks now are automated; if you get turned down the first time, try again for a lesser amount. Schools don’t want to leave students behind; find out all the programs available for that particular school.

The government has just passed a bill that has a lot of money going out for education. If you were turned down in 2008 wait a few months and try again in 2009. Banks constantly change their loan parameters. Consider getting a co-signer if you are having trouble qualifying on your own. A co-signer dose not have to be a family member, and some banks will take up to 3 co-signers together on one loan.

Once you get an education, no one can take it away from you, not like a house or a car. It is the best investment out there, it doesn’t depreciate.

Tomorrow I talk about credit card consolidation, and getting a lower APR.