| What is a Student Loan? |
| By: John Mussi |
Not everyone is aware of what is a student loan? Student loans, as the name implies, are available to students who require help with living costs while studying.
Student loans are part of the government's financial support package for degree only students embarking on a course of higher education. For most students, a student loan is their largest single source of income. So unless you have very generous parents, you will need to apply.
Regardless of where you are studying, if you are from England and Wales you will apply to your Local Education Authority using an HE1 form. They will then calculate how much you're entitled to receiving – as well as working out whether you need to pay tuition fees.
They will then send you back a form that you need to forward to the Student Loans Company (the government organisation that administers your student loan) who will process your application. This usually takes a month, so make sure you get the paperwork done well in advance of the start of term.
Although it is only a loan, you'll never be able to borrow money more cheaply, so it's the most cost-effective way of borrowing money while you're studying to pay for all those bills. The interest charged is only equal to the rate of inflation.
Unlike support towards tuition fees, you have to repay any loans. The Student Loan is repaid after you graduate (or after you leave the course, should you leave before completing). Repayments are calculated on a sliding scale and are repaid monthly directly to the Student Loan Company.
Should your salary fall below £10,000 payments are suspended until you earn above this figure again whereupon you will recommence payments. Interest on the Student Loan is calculated at a preferential rate which is far lower than any commercial bank loan rates.
Loans have the unfortunate tendency to mount up your debt. If you take the full £4,000 a year for three years that means you'll be £12,000 in debt by the end of your course – and if you're on a longer degree programme, that total could be even higher.
You may freely reprint this article provided the author's biography remains intact:
About the Author
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.
|
|
| Keywords: aware of what, they will, they will then, 'student loan', student loan, loans, student, everyone is aware, loan, student loans |
| Online College Loan News: |
|
Self-help guide for consumers
Homeowners, savers and investors shouldn't feel bad if they
are confused by the trend of banks collapsing. It's obvious the experts are confused,
too.
Marriage and money
How you handle money at the beginning of your marriage can
have an enormous impact on the rest of your lives together. Or
your lives not together.
Tips for retirement home buyers
Real estate prices have taken a tumble in the most favored vacation and retirement home markets, making it tempting for buyers scouting for getaways.
Keep watch on your credit file
There are easy, genuinely free ways to stay on top of your credit files and use them to save money. Here's what you need to know to do that.
Sending your money abroad
You might not be able to
afford an international vacation this summer, but you may want
to consider sending some of your money overseas.
|
|
Web Site Unavailable
This site is currently unavailable. If you are the owner of this site, please contact us at 1-480-505-8855 at your earliest convenience.
Free Guide to Online Degrees, Online Colleges & Online Universities
Free information about online and traditional education. Find the school or college that has the classes and courses you need to improve your skills and advance your career. ... For Career Change - Career Development - Skill Enhancement. Online Careers ... Barrington University offers online Master and Bachelor degrees in sveeral business disciplines, Criminal ...
Online Degrees - Over 100 Majors & Master Degrees
Choose from over 100 majors and master degrees and start getting your online degrees to start your career.
Online Degrees > Find Online College Degrees Programs Today!
Online Degrees -find recommended online college degrees programs. Online Degrees Today offers information about Online classes, Online degrees, Online diplomas. Prospective college students can find Online degrees information here Online! ... Got Debt? - Career Tools Coming Soon! Online Degrees & College Programs ... the availability of your teacher being on-site at the Institute. Online Degrees are convenient ...
Online Degrees - Online Degree Programs - Online Schools - Distance Learning
Degrees-Online.Net online degrees guide, a comprehensive guide for students seeking online degree programs. ... Online Degrees, Education, Distance Learning, Online College Degrees ... to advance their higher education and obtain online degrees through accredited distance learning programs ...
Online Degrees .net - Find Online and Local College Degree Programs!
... Online Degrees .net - Find Online Education Programs that will help you change or advance your career ... Online Degrees.net can help you find the resources you need to choose ...
CollegeJungle.com - Colleges, Universities, Online Degrees
college, univeristy, degree, colleges, universities, online degrees
Online Degrees - Free Online School & Online College Search
The Online degrees site is a directory of online colleges, Campus based Career Colleges and online college search from distance learning online providers ... online degrees ... online schools and distance learning providers ... Search by Degree. Online Degrees. Online Associate Degrees ...
