In this tough economy, many workers have experienced financial hardship and job loss in New Mexico. If you've lost your job, and have student loans, many student loan programs include deferment and forebearance benefits, allowing you to defer making payments for a pre-determined period of time. While some lenders will let you defer your loan payments, others will not, and still others handle forbearance on an individual basis. Call our representatives right now for further information on the best student loans available to students in New Mexico.
You are required to fill out and submit an online FAFSA in order to be considered to receive federal aid in New Mexico. After you submit the FAFSA, you will be considered for federal student loans, work study and college grants. The Department of Education sets the eligibility guidelines for student loans in New Mexico. The government takes into consideration factors including living expenses, assets, income, and the number of members in your family when determing your level of financial need. Contact our pleasant associates to learn more.
College students will want to exhaust all of their scholarship and financial aid resources before applying for private student loans to fund their college education. Because New Mexico private student loans are costlier than federal student loans, you need to make sure you've taken advantage of all your low-cost federal student loan options first. A private student loan should typically be your last resort when you have exhausted other funding sources. Contact our associates for more information about student loans in New Mexico.
In New Mexico and other areas of the country, a Stafford loan is a government subisidized loan for graduate and undergraduate students. The main advantage of a Stafford loan is low interest rates. For example, graduate students can take advantage of interest rates 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 New Mexico, a Stafford loan doesn't require application fees, collateral, or a high credit rating. Call our representatives today for more information.
Since private student loans in New Mexico tend to be more expensive than other kinds of student loans, you should consider other options for student financial aid. More affordable education loan options include Stafford loans, Perkins loans, PLUS loans for parents and Grad PLUS loans As a college student, you should explore financial aid options in New Mexico that will save you money in the future. Contact our associates to learn more about student loans in New Mexico.