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Get Rid of Money Problems During College

Hi, being a student of economy at University of California I personally know lots of people who have faced great money problems when it comes to paying for college studies. A college loan is the good solution for those problems. I myself get the opportunity to continue my studies through college loan programs.

Types of college Loan:

I want to explain some of the types of a college loan.

Federal Student Loan: This student loan is also known as Stafford Loan. This type of loan is the most commonly used. Subsidized and unsubsidized are the two types of this loan. In the case of subsidized the interest of loan is paid by the government rather by the student. But I think that I must be in big debt in order to get the subsidized loan. The unsubsidized federal student loan has the interest paid by the student. It is not deferred until after I became graduates.

The Private Student Loan: this can be given to anyone with a good credit score. This loan can be used for any type of expenses. I must inform that this type of loan is unsecured. It has very high-interest rates yet it requires no collateral.

Parent Loan: parents can take this loan. The payoff and the interest rate are much lower because parents have good credit.

College/University Loan Consolidation:

College loan consolidation is basically used for consolidating all of my student loans. I can pay off to only one lender with college loan consolidation after making a mistake of getting too many college loans. College loan consolidation can be a positive move. Nowadays college loan consolidations have low-interest rates. This is available to me regardless of my credit rating. It is easy to obtain college loan consolidation. The fact is that the with this loan consolidation I get rid of the stress of being called about my late payments. When I apply for a college loan consolidation I do research and then I choose a trusted company to handle my financial problems.


Repayment is a rule that will begin six months after you leave college/university. There i s minimum monthly payment on a federal student loan. There are some kinds of repayment schedules available. If you choose one method of repayment and then find that it does not work for me then I can request that my repayment plan is changed. Generally, I do not avoid my debt. Somehow if I am unable to pay the amounts I owed then I tried to find a way or try to do some research of government programs.


There are a number of college loans that are available to both college students and their parents. Some college loans are not available for some people but there is something out anyone for future studies. This can help to continue studies. Many types of grants are available in addition to college loans. There are numerous scholarships. Before beginning for the process for receiving financial aid it is simply important to know exactly what is available and what it entails.

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