For those students who are at a financial disadvantage and find that they are having a hard time making ends meet; the good news is that they might be eligible for a student loan.
There are many types of student loans that cater to the different needs of individuals.
Some student loans do not have to be paid until the student has graduated from college. But this type of loan tends to be limited in amount. Almost all students may qualify for this type of loan. There is also a six month interval before students have to start paying their loans. This is called the grace period.
While there are other student loans that are directed towards the parents of the students. Since the parents are the ones that are going to have to make the payment, this type of loan offers a bigger amount.
The important thing to know with this type of loan is that the parents would have to start repaying immediately. There is no grace period when it comes to this type of loan. The interest rate for this kind of loan is around 8 percent.
Another way to go is to secure a private student loan. A private student loan comes from a variety of sources, such as financial lending institution, banks, etc.
When it comes to availing of a private student loan, a person's credit history counts a great deal. Those individuals who have an outstanding credit history will receive lesser charges and fees than those who do not have as good a credit record.
Before applying for a student loan there are few things individuals need to do such as:
1. Figure if they are eligible for a student loan. There are various grounds for eligibility depending on the situation of the individual. In different countries there are different stipulations that specify who actually qualifies for a student loan. Parents' income are often one of the consideration that goes into the assessment.
2. Payment method that a student loan is requiring.
3. The grace period being offered in the student loan.
4. They must also look into the rate of the interest that they have to pay.
For those who have graduated and have gone on to more lucrative jobs, but find that they are still struggling paying for the loans that they have incurred as a student, they can also benefit by consolidating their loans.
Consider loan consolidation
Loan consolidation is a great option. This basically means that all of the loans that students borrow from various financial institution will be combined into one loan that they would then only have to pay.
The great thing about loan consolidation is that individuals will be able to save money this way by eliminating the various interests that add up from all the loans that they would have to pay.
Many financial institutions that offer loan consolidation offers individuals flexible payment plans. They can choose to have a longer payment plan. Allowing them a longer period in which to pay their loans. The down side to this is that a longer payment plan tend to have a higher interest rate.
Paying for a college education is expensive these days. This is why students need all the help they can possibly help. Thanks to student loans- students would have the opportunity to complete their education, and be given the best chance to be successful in the future.
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Everything You Need To Know About Student Loans | The 3-Minute Guide
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Erin from Broke Millennial gets into the nitty gritty about student loans.
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Everything You Need To Know About Student Loans
In the ninth episode of The College Student's Guide To Money, Chelsea covers everything you need to know about taking out student loans. Whether you're still in college or recently graduated, try to learn everything you can about your debt situation!
Student debt statistics:
Types of financial aid:
Paying back loans:
Federal vs. private student loans:
Federal loan rates:
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How Student Loans Work...EXPLAINED!
This video goes out to Tyler Oakley, who asked us to explain student loans! Here's the essential info on financial loans, Stafford loans, loan forgiveness, Perkins loans, loan debt, and more!
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What I Wish I Knew About Student Loan Debt that I Know Now
I was clueless in my early 20’s when it came to money. Student loan debt was racking up quicker than my bar tab. There are several things I wish I knew in college about student loan debt that I know now. Had I known these things in my collegiate years, I would have entered the workforce financially stable with a realistic plan to tackle my money goals and student loan debt.
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Everything You Need to Know Before Taking Out Student Loan Debt - Student Loans Explained 2020
Everything You Need to Know Before Taking Out Student Loan Debt - Student Loans Explained 2020
Finally making a video covering everything you need to know before taking out student loan debt. I graduated with $50k worth of college debt, and have been documenting my journey paying off debt ever since. There's so much info about student debt that no one teaches you in school, so this video is going to cover everything I wish I knew before taking out student loans. This is a 'student loan debt explained' intro video to anyone who is having trouble understanding how student loans work, how much student loans do I need to take out, how student loan interests rates work, etc. I also explain the difference between government vs private loans for college, and which ones are better.
Let me know if you have any questions or want to see a part two on paying off student loan debt!
1:08 student loan basics
2:32 government loans
6:45 private loans
9:18 how much should you borrow
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Student Loans Explained In Under 2 Minutes
Whether you’re reaching your final year of high school or just planning your education ahead of time, it’s important to know your options when it comes to student loans.
In this video, we discuss everything you need to know about student loans.
-What are student loans?
-What student loan options are available?
-Which student loan is right for you?
-How interest rates work
-Student loan repayment
The responsibility of taking out a loan may seem overwhelming, but understanding student loans and student loan terms before you borrow could prevent financial hardships and allow you to decide which loan options are best for you. If you’re thinking about student loans, these are some things you should know.
Student Loans 101: Everything You Need To Know
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Iove college and higher education and for a lot of us student loans are a necessity. I had a subbie ask if I could give a break down of all the ins and outs of student loans for her sons. I hope this answers all of her questions and yours. If you have any questions feel free to comment down below. Below are links to more information and where to apply for these loans. Thanks for watching!! Love ya :)
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Don't Worry about your Student Loan - Everything about UK Student Loans Explained
As a student myself I wanted to make this video to relieve any undue anxiety over student loans.
Whether you're stressed at the sheer size of the debt or perhaps don't know much about the UK student loan system, this video will take you through the facts and explain why these need not be a concern.
For more finance-related videos, subscribe to my channel and hit the notification bell so you don't miss an upload :) many more videos in the works!
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Calculating Student Loan Interest
This video will show people how to use simple math to calculate student loan interest. I made this video to give people a basic idea of how to calculate their debt, so that they know what they are walking into. As someone that borrowed a bit carelessly, I did not expect to lose so much money to the interest gained by the loans. So hopefully this video helps people save some money!
In one of my newer videos, I talk about how my wife and I paid back nearly 200k of student loans in 5.5 years:
If you found this video to be helpful, please click the LIKE and SUBSCRIBE buttons below, it helps me grow the channel. If you have any video requests, leave the topic you want me to cover in the COMMENT section below. Thanks for watching!
#EducationLoan #Repayment Process- Steps to know | Ep #29
This 29th episode will give you a broad idea about the education loan repayment process in India. For assistance on your education loan, request a call back @
Our Financial officer will get back to you and assist you until the sanction. All the services offered by WeMakeScholars are free of cost as this initiative is supported by the IT Ministry, Govt. of India.
Education loan repayment is on everyone’s minds. However, very few candidates are well aware of the education loan repayment rules of different types of lenders. With this episode, we aim to provide you with the correct information about the entire student loan repayment process followed by both government banks as well as NBFCs.
The education loan repayment rules of many lenders vary depending on the nature of education loans provided by them. Both government banks and NBFCs follow different education loan repayment process. In this episode, our expert on abroad education loans has bifurcated the education loan repayment process into two different categories. One with respect to government banks and the other with respect to NBFCs. The episode covers the following talking points.
- Repayment holiday in the education loan repayment process (1:33)
- Education loan repayment policy of government banks: When to begin the repayment process? (2:24)
- Education loan repayment of NBFCs: When to begin the loan repayment process? (4:23)
- How does the exact education loan repayment process work? (6:20)
- What is the ideal tenure for education loan repayment? (6:44)
Loanflix is the most comprehensive web-series on abroad education loans. The motive is to empower students and their guardians so that they can take an informed decision about the education loan. The titles of our previous episodes in this series and their links are as follows:
#1. Introduction to study abroad education loan -
#2. Secured education loans -
#3. Abroad Education Loan without collateral -
#4. Documents for Education loan -
#5. SBI education loan for abroad studies -
#6. SBI Education Loan- Documents, Process & Timeline -
#7. Bank of Baroda Education Loan for abroad studies -
#8. Education loans from Government Banks, Issues and solutions -
#9. Unsecured education loan from NBFCs - An overview -
#10. International student loan: Prodigy finance student loan & MPower finance (Part 1) -
# 10. International student loan: Prodigy finance foreign education loan & MPower finance (Part 2) -
#11. Education loan for abroad: Public banks Vs. Private Banks/NBFCs -
#12. Education loan interest rate: Simple or Compound? -
Other episodes up to 28th one can be found in the Loanflix playlist @
By the end of this episode, you will get the complete idea of all aspects of the education loan repayment process of the various lenders in India. The next episode will tell you all about the documentation procedure for non-collateral education loans. Do not forget to subscribe to our channel so that you don’t miss out on the notifications about future Loanflix episodes.
Please subscribe to our channel for more such informative videos. Also, do like and share it with your friends. Good luck!
Script editor- Arjun R Krishna
Shot, Edited & Directed by Sreeman Reddy
About the Presenter - Damini Mahajan is a visionary entrepreneur and co-founder of WeMakeScholars.com, an education finance start-up for international education. Damini has been mentioned as Top Women in Tech by The Asian Entrepreneur. She has also been awarded as the winner of Silicon Valley Challenge by Action for India 2016 and was in Top 75 start-ups in the Power of ideas by Economic Times at IIM Ahmedabad.
What to know about financial aid packages and student loans before committing to a college
The deadline for students to commit to a college is next Wednesday. For many, figuring out financial aid is a key part of the process. CBS News business analyst Jill Schlesinger joins CBS This Morning to discuss how your family can get the best financial aid plan, as well as Democratic presidential hopeful Sen. Elizabeth Warren's proposal to eliminate tuition at public colleges.
How To Pay For College (The Right Way)
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Americans owe over 1.6 trillion dollars in student loan debt. Many parents and students believe the myth that paying for college isn’t possible without student loans. But that’s just what it sounds like – a myth.
Your kids CAN graduate debt-free and ready to succeed. Here are four tips for paying for college without debt:
Choose a school you can afford. Take a look at what colleges you can realistically pay for. If you can’t cash-flow a 4-year university, community colleges or trade schools are a great option to get an education. It doesn’t matter what kind of school you go to, as long as you’re not going into debt to get there.
Apply for scholarships and grants. Treat the scholarship search as a part-time job! You should be spending an hour a day filling out every single scholarship opportunity you can find. It’s free money!
Work during college. Look into work study programs, working on or off campus, or even starting your own business.
Live at home. This could save you thousands each year in room and board fees!
Sending your kids to college can be overwhelming. But remember, it IS possible to pay for college without going into debt. Anthony Oneal’s new book, Debt-Free Degree, shows parents how to help their kid pay for college without student loans and set them up for financial success. Get a copy today:
Student Loans: 5 Things Everyone Should Know (2019)
With tuition and student loan debt increasing every year it’s important to have a basic understanding of your student loans so that you can eliminate any surprises. (This is specific to Federal Student Loans)
I'm going to go over 5 things you should know about your student loans:
1) 0:12 2) 1:50 3) 2:55 4) 4:25 5) 5:59
1st: You should Understand the types of loans you have along with their interest & fees.
There are basically 3 different categories. Loan type, (Subsidized, Unsubsidized, & Grad Plus explained), Borrower Type (undergrad, grad, professional, & parent) and interest rates (Varies year-to-year).
Subsidized loans - are available to undergraduate students with financial need. While in school and under other certain circumstances these loans don't accrue interest; however, they will start accruing interest after the grace period. They also have relatively low interest rates.
Unsubsidized loans - are granted to undergraduate & graduate/professional students at a higher interest rate.
Direct Plus loans - include the previous types of borrowers plus parents. *Avoid these as much as possible because they have the highest interest rates & fees.
**Federal student loans have fees associated with them. This means the money you receive will be less than the amount you actually borrow. And you’re still responsible to pay back the full amount. This means if you borrow $10,000 at the current fee (4.284%) for Grad Plus loans, you’ll actually receive only $9,575.20. The fee apparently goes to your student loan servicer.
2nd: Understanding your repayment plan & how it’s structured.
There are a number of repayment plans which fall under:
Standard repayment plans, Forgiveness programs and Income Driven Repayment plans. They each have variable repayment periods ranging from 10-30 years, with advantages and disadvantages.
3rd: Just because you’re making payments doesn’t mean you’re paying off your loans.
Let’s say a recent college graduate took out $32,000 in unsubsidized loans and by the time they graduated the interest brought the total amount to $37,000. The graduate decided to go with the 10yr repayment plan making $405 payments per month. After making 18 monthly payments they decided to check the status of their loans, only to be surprised by the fact that they still owe $32,000 in principal.
Unlike a mortgage or other debts where a payment applies toward the interest & principal, student loan payments apply to the interest first.
Federal student loans are calculated by Daily Simple Interest, which means the loans outstanding balance grows every day; rather, than being compounded on a monthly basis.
So, a principal amount of $32,000 at 5.7% earns $5 per day in interest. Using the example above, if the first $405 payment reduces the total amount from $37,000 to $36,595 then the next payment made is 30 days later the new total then becomes $36,342. This loan will continue to accrue the $5 per day until enough payments have been made to reduce the total amount to less than $32,000.
On some repayment plans the monthly payments are lower than the interest that’s growing per month, which referred to as “Negative Amortization”.
4th: Avoid Loan Capitalization - Capitalization is the addition of unpaid interest to the principal balance of a loan.
Essentially if you have a Principal amount of $10,000 with $1,000 in interest if this was capitalized the Principal amount would then become $11,000 increasing how much the loan is accruing in interest each month.
There are a number of ways the interest can be capitalized, which occur due to the following:
-At the end of a grace period for unsubsidized loans
-Failing to recertify for your income-driven repayment plan
-Voluntarily leaving an income-driven repayment plan or no longer qualifying for certain income-driven repayment plans
-Following periods of deferment on an unsubsidized loan and/or after forbearance on any types of loans
5th: Save Money - Most if not all federal student loan servicer's allow you to set-up an “Autopay” which in most cases will reduce your loans by .25%, which doesn’t sound like a lot but over 10 or 20 years that can save you hundreds if not thousands of dollars.
**Student Loan Forgiveness Video:
DISCHARGE YOUR STUDENT LOANS! THEY WERE PAID OFF WITH A SURETY BOND AGREEMENT!
LEARN HOW YOU CAN DISCHARGE YOUR STUDENT LOANS PERMENANTLY AND 9 THINGS YOUR GOVERNMENT WON'T TELL YOU ABOUT THEM!
For more details log on to kokinvestors.com debt elimination page start with STEPS 1 AND 2 to get started today
What they dont tell you about student loans...
This video is about what nobody talks about when it comes to student loans
Student loan debt is a hot topic right now and this video is going to be about the predatory nature of the current college landscape when it comes to student loans. We are going to go over how student loans are different than ANY other type of loan and what makes the unique differences so insidious.
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I make this video so that you are aware of what you're getting yourself into when you take out student loans. I still think that certain degrees are worth it, and I make videos about that, but the truth is if your degree doesn't have a good ROI, it isn't worth being in debt for the majority of the rest of your life.
Also, I'd just like to mention that I spend a TON of time researching these videos to give you all the best possible information. This video was TOUGH to research. Finding this information was like finding a needle in a haystack. There are vague warnings about the things that can be done to you with student loans, but it's tough to find exact numbers.
Why all the secrecy? This stuff should be out there. Student advisors should be warning people about this in high schools and colleges. It should be made extremely clear that these things can happen to you when you take out loans.
These videos are for educational and entertainment purposes only. I am not an attorney, CPA, insurance, or financial advisor and the information presented shall not be construed as tax, legal, insurance, safety or financial advice. If stocks or companies are mentioned, Shane might have an ownership interest in them. Please don’t make buying or selling decisions based on Shane’s videos. If you need such advice, please contact the qualified legal or financial professionals, not the opinion of a stranger on the internet.
Student Loan Default - Everything You Need To Know About It
Everything You Need To Know About Student Loan Default
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The Truth About Student Loans
Student loans for a college education are cement boots on the feet of drowning youth—student debt is crushing the dreams of today's youth. But like everything, there is a reason that they are destroying the future of the youth of the US and the UK.
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7 Things You Need to Know About Unsubsidized Student Loans
Need to know more about what an unsubsidized student loan is? You’re in the right place! This video goes over the 7 things you need to know about unsubsidized student loans in order to pay them off on the schedule you choose, and how they’ll impact your life in the years to come. Enjoy!
Everything You Need to Know About Student Loans
Figuring out how to pay for college can be overwhelming. One option to help foot the bill is student loans. In this video, we explain the different types of student loans and what you should keep in mind when trying to decide which loans are best for you.
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How To Remove Student Loans From Your Credit Report | Credit Repair Hacks |Student Loans | LifeWithC
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The Student Debt Sentence: The British Election
The reform to higher education in England, which among other things tripled annual university tuition fees, sparked mass protests in 2010. In the lead up to the general election on May 7, only 0.3 percent of the policy debates dealt with the contentious issue of higher education.
VICE News follows students who feel let down by those in power and are once again taking to the streets and occupying their campuses. They are taking direct action against the new loan-backed fees system, which they fear is a ticking debt bomb, and their universities being turned into profit-driven corporations, rather than places to expand the mind.
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How U.S. Student Loans Became A $1.6 Trillion Crisis
College is more expensive—and important—than ever before. Some 44 million Americans collectively hold nearly $1.6 trillion in student debt. And these numbers are growing. This decade alone, college costs increased by 25% and student debt increased by 107%. Today, college graduates earn 80% more than those with just a high school diploma. That dichotomy is putting students in a difficult situation: Do they risk going into crippling debt at the beginning of their adult lives in the hope the investment turns into a career financial stability that goes with it?
Some 44 million Americans collectively hold over $1.6 trillion in student debt. And these numbers are growing.
At the same time, advancements in technology, especially automation, are making it harder to earn a living wage without some type of advanced degree. Today, college graduates earn 80% more than those with just a high school diploma, on average.
College is more expensive — and important — than ever before. And that dichotomy puts students in a difficult situation: do they risk going into debt they can’t pay back or miss out on the benefits of a college degree?
Experts have long labeled this dynamic a “crisis.” But then, another kind of crisis hit: the coronavirus pandemic. And then, an economic crisis followed.
In February, the United States officially entered an economic recession and between mid-march and June, over 42.6 million Americans filed for unemployment.
During the 2008 recession, many opted to go back to school and gain new skills. However, since then, the cost of a four-year college degree increased by 25% and student debt increased by 107% and many are less sure if college will be the solution to riding out a recession this time around.
CNBC Make It spoke with students, borrowers, historians and experts to learn how student debt became a crisis, how the pandemic will impact borrowers and who is to blame for putting students in an impossible position.
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How U.S. Student Debt Became A $1.6 Trillion Crisis
I Co-Signed My Son's Student Loan And He's Not Paying
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Things to consider when applying for a student loan | Money for Life
This first episode of our Money for Life series focuses on the first big financial decision many of us will make - whether to take out a student loan. As our video explains, when it comes to student loans, it can be useful to think less about the total potential debt hanging over your head, and more about how much of it you’ll actually need to pay back.
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HOW I'M MANAGING TO PAY OFF MY STUDENT LOAN & HOW YOU CAN TOO!!
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How Kelsey Paid off 40,000 Dollars of Student Loans in 19 Months!
Kelsey paid off over 40,000 dollars of student loans in 19 months. She made up in her mind that she didn’t want to live a life that was hindered by the weight and stress of being in student loan debt.
Listen to Kelsey's remarkable story here (audio-version):
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3 Ideas You Must Know To Reduce Your Student Debt
OH MY CHANGES! Change is the only constant right now and If you have any student debt, you must know these 3 ideas that can help you with your repayment! Both Federal and Private student loans are being impacted and a few quick phone calls can save you thousands of dollars. This is a 6 minute tutorial that could pay off!
$82,000 Debt Free Lessons You Should Know (student loan debt credit card debt)
Are you in the process of getting out of debt? Are you thinking about getting out of debt? I've been debt free for roughly 8 months and a lot has changed since then.
I wanted to put this video together to give you an idea as to the changes I've noticed in my life since paying off all of my student loan debt, credit card debt, and car loan.
I hope this helps you decided whether you're ready to get started or gives you an extra push of motivation if you're in the middle of your debt free journey.
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Disclaimer: This video is for educational purposes only. Please take all of my suggestions/recommendations and do your own research before making any decisions with your money. Contact a professional before trying anything that I talk about. I know you're smart and you'll use that big brain of yours :)
#debtfreejourney #financialfreedom #debtfreeblueprint
Student Loan Repayment Options
Understanding how to repay your federal student loans can save you a lot of time and money. There are several repayment plans available, providing the flexibility you need. For more details, visit
Topics this video will cover:
0:18 – Loan consolidation
0:41 – Which repayment plan should you choose?
0:49 – Standard 10-year repayment plan
1:03 – Graduated repayment plan
1:23 – Income-driven repayment plans (REPAYE, PAYE, IBR, and ICR)
1:53 – Recertifying your income-driven repayment plan
2:25 – Using the repayment estimator
2:52 – How to make a loan payment
3:20 – Finding out who your loan servicer is
3:27 – Auto debit benefits