When it comes to finding a student loan to pay for college, private student loans offer several benefits. For instance, many private student loan programs in Alabama don't require you to start making payments until you have graduated. Other private student loan programs require that you start paying the loan back immediately. Other private loan options allow you to make interest-only payments while still signed up for classes. This enables you to pay down the interest on your Alabama student loans as quickly as possible and save money.
Before you apply for a private student loan, make sure you have taken advantage of all your federal financial aid and free-money options first. Because Alabama private student loans are more expensive than federal student loans, you need to make sure you have taken advantage of all your low-cost federal student loan options first. A private student loan should typically be your last resort once you have exhausted other funding sources. Call our associates to learn more about student loans in Alabama.
Because Alabama private student loans have higher interest rates than other kinds of loans, students should seriously consider more affordable education loan options. Other low-cost student loan options include Stafford loans, Perkins student loans, Grad PLUS loans (for graduate students), and PLUS loans for parents. As a potential college student, it is wise to explore financial aid resources in Alabama that are affordable and will save you money. Call our associates for additional information about student loans in Alabama.
In this tough economy, many workers have experienced financial hardship and job loss in Alabama. If you are out work, and have an education loan, many student loan programs include deferment and forebearance benefits, enabling you to postpone payments for a pre-determined period of time. Although some lenders will let you delay your education loan payments, others don't, and still other lenders handle forbearance on an individual basis. Call our representatives right now for additional information on the best student loans available to students in Alabama.
Student are required to fill out and submit an online FAFSA to be considered to receive federal aid in Alabama. After you submit the FAFSA, you'll be considered for grants, work study programs, and federal education loans. The Department of Education sets the eligibility guidelines for student loans in Alabama. The federal government takes into consideration factors including assets, family expenses, income, and the number of members in your family when determing your level of financial need. Call our pleasant representatives for more information.