The U.S government offers three different types of federal student loans for Delaware students. The loans available are Stafford loans, Parent PLUS loans and private student loans. The first loan (Stafford loan) can be taken out under the student's name. This type of loan doesn't require credit checks or collateral. Parent PLUS loans are specifically designed for the parents of undergraduate college students and allow parents to borrow up to 100 percent of their child's academic expenses. Third, private student loans are credit-based, unsecured loans available to Delaware students.
In Delaware and other areas of the country, a Stafford loan is a government subisidized loan for undergraduate and graduate students. Stafford loans are very affordable because they have low interest rates that are fixed. Interest rates for graduate students are often as low as 6.8 percent. Undergraduate students can take advantage of interest rates between 3.4 and 5.6 percent. Unlike non federal student loans in Delaware, a Stafford loan does not require credit checks, collateral or application fees. Call our associates today for more information.
When it comes to finding a education loan to pay for college, private student loans offer several benefits. For instance, many private student loan programs in Delaware allow you to to delay payments while you are still in college. Other private student loan plans require that you start paying the loan back immediately. With some private student loan programs, you can make interest-only payments while you are still in school. This enables you to pay down the interest on your Delaware student loans as soon as possible and save money.
Since private student loans in Delaware tend to be more expensive than other types of student loans, you should consider additional options for student financial aid. 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 college student, it is smart to explore financial aid resources in Delaware that are affordable and have low interest rates. Contact our representatives for additional information about student loans in Delaware.
In today's economy, many workers have experienced financial hardship and job loss in Delaware. If you are out work, and have an education loan, many loan programs include deferment and forebearance benefits, enabling you to postpone payments for a pre-determined period of time. While some lenders allow you to delay your education loan payments, others will not, and still other lenders handle forbearance issues on a case by case basis. Call our representatives today for further information on the best college loans available to students in Delaware.