What is the difference between a student loan, a grant and a scholarship?

How would you go about applying for each of them

What is the difference between a student loan, a grant and a scholarship?

Student loans are like car notes, you pay it back for a loooong time at a crazy interest rate. A grant you apply for and are approved depending on your social status (normally) and you don't have to pay it back. A scholarship is based off of your academic achievements and is not paid back. Much more difficult to get a scholarship.

What is the difference between a student loan, a grant and a scholarship?

Student loans you pay back. Grants and scholarships you don't pay back.

What is the difference between a student loan, a grant and a scholarship?

Student loans=money borrow from a bank or loan company and you have to pay it back after you graduate. A grant is money you are given (usually from the goverment) you do not have to pay back. Scholarship is an award for great performance,it has to be used for college. you don't pay this back, it is free, you earned it.

What is the difference between a student loan, a grant and a scholarship?

Student loan - must be paid back

Grant - does not need to be paid back

Scholarship - does not need to be paid back. usually based on grades

Go to the financial aid office of your school to find out how to apply for each.

What is the difference between a student loan, a grant and a scholarship?

Student loans are just loans that you pay back usually at lower interest rates and lower monthly payments than regular loans. Grants are %26quot;free%26quot; money from the government if you qualify and scholarships are %26quot;free%26quot; money given out by certain foundations and organizations to qualified or deserving persons.

If you check the website of the school you wish to attend there should be a financial aid link you can click on to apply. Also, a book I found extremely helpful when I was looking into financial aid assistance was Free Money for College for Dummies. I found it at Barnes and Noble and it's one of the %26quot;For Dummies%26quot; books.

What is the difference between a student loan, a grant and a scholarship?

you have to pay a loan back...poor people get them

Im in default on my federal student loan which is under $5,000.00?

how do i go about trying to settle my debt i'm on a limited income and have other concerns; such as medical issues; and child support that i must pay; where can i seek assistance that will actually work with me; on a flexible timetable

Im in default on my federal student loan which is under $5,000.00?

If you are on disability you can apply for a permanent disability status and get your loans permently written off ONE time only..if not, they have deferments/repayments such as interest only, income sensitive where you pay from 2% to 50% of your incom as long as it's min. the interest, underemployment, unemployment, etc. If you are past due, they will take that amount and just add it to the balance and you start fresh...contact your lender for these things. Gl

Im in default on my federal student loan which is under $5,000.00?

A second job maybe?

Im in default on my federal student loan which is under $5,000.00?

Approach the government agency that has your account in default. Enroll in the Rehabilitation program. Its flexible on the level of payments that you can afford. Then it will immediately repair your credit.

Im in default on my federal student loan which is under $5,000.00?

You should be able to talk to the company and receive a payment arrangement that is based off income.

Im in default on my federal student loan which is under $5,000.00?

Call them. They are probably the nicest people ever to deal with. You can either halt your payments temporarily, or get on a reduced monthly payment.

Im in default on my federal student loan which is under $5,000.00?

The best thing to do is to go straight to the source. Tell them you would like to work out a payment plan, and let them know your situation. They will work with you if you approach them. By ignoring them, they will be less likely to be flexible. Contacting them first will show you are responsible and trying to handle your own debts. Just give them a call. That's the first step to getting this burden off your shoulders.

Im in default on my federal student loan which is under $5,000.00?

Contact whomever is servicing your loan. AES Graduate Loan services or Direct Loans or whomever it is, and explain your situation to them. I have also heard of a free consumer credit counseling program that is available through the state, I believe. I just suggest being open and honest -- they will be more happy to receive a little money at a time from you than to receive none at all. Plus, this will become part of your credit history record and that is never helpful.

Im in default on my federal student loan which is under $5,000.00?

Call the government agency and let them know your situation. They will be rude but make sure you tell them you are going to pay what you can. If you have to pay $5, do it.

Only so much of your paycheck can be garnished and child support is probably taking up that amount.

%26quot;What about non-tax debts owed Federal Agencies?

The Debt Collection Improvement Act authorizes federal agencies or collection agencies under contract with them to garnish up to 15% of disposable earnings to repay defaulted debts owed the U.S. government. The Higher Education Act authorizes the Department of Education's guaranty agencies to garnish up to 10% of disposable earnings to repay defaulted federal student loans. Such withholding is also subject to the provisions of the federal wage garnishment law, but not state garnishment laws. Unless the total of all garnishments exceeds 25% of disposable earnings, questions regarding such garnishments should be referred to the agency initiating the withholding action.%26quot;

What is the best way to pay for student loan?

Make sure you consolidate and try to do it fast cause the rates are going up soon. Watch taking out another loan to pay off, compare interest rates but get a payment you can afford. If you default on a student loan, the government can garnish your wages, take tax returns and all professional licenses are subject to being revoked. Good luck!!!

What is the best way to pay for student loan?

get out of school as soon as possible and find a job to pay off the loan.

What is the best way to pay for student loan?

get a job and while you're at it get a life...

What is the best way to pay for student loan?

With money.

What is the best way to pay for student loan?

month to month auto pay out of a checking or savings account. Sallie Mae gives you a .25 point less on your interest rate when you autopay...and the interest is also tax deductible.

Where can i get a student loan?

Student loans are available by filling out your FAFSA form. Go to www.fafsa.ed.gov. This is the official FAFSA website. Be careful of other sites that sound like this one. You will need some documents to get started: soc. sec #, last year's tax return, if you are a minor your parents info, etc. The website tells you what you will need and walks you through the application. Also, you can fill out the application anytime. However, renew your application in January for the best return of %26quot;extra money%26quot; but definitely by May 1st. I received about $1000-1200 in extra checks because I followed this simple rule.

It takes some time to fill out but it saves the info so it is much quicker next year. It will ask for schools you want to attend because it will send this info to them so they can figure out what you qualify for. You can find this info in any brochures that the college sends you or by searching for it on the FAFSA website.

NOTE: It is important for you to fill out the FAFSA form even if you think you make to much money to qualify for that. All other loans require that you be rejected (or not) by FAFSA first. Basically, the others are making FAFSA do all the dirty work of gathering the info. Make sure the information is as accurate as possible.

There are other types of loans out there as well and don't forget to apply for scholarships. These are helpful even if you get all the money you think you want. (Borrow less if that is the case.)

Where can i get a student loan?

Visit the financial aid office of the college you are attending.

I get the next part of my student loan in January but I need to borrow say 鎷?00 now to pay it back t

What are my chances? Im overdrawn on my account so my bank statements look like crap haha. Cheers

I get the next part of my student loan in January but I need to borrow say 鎷?00 now to pay it back then.?

Check with your university - they may have personal student loans you could get until your check comes in January. My university had those.

I get the next part of my student loan in January but I need to borrow say 鎷?00 now to pay it back then.?

Stupid, what are you.. You did not ought to have an account you can overdraw on.. My granson is at UNI.. His first responsibility is his rent each month...His tuition fees are paid automatically. He has to live on about 鎷?0 a week for food and social activities. You must do the same... Borrow from family if you can... Alter your bank account to a basic one and live a frugal life... Show you are responsible... Have a bit of pride in yourself....

I get the next part of my student loan in January but I need to borrow say 鎷?00 now to pay it back then.?

Borrow fron your friend - a friend in need is a friend indeed

I get the next part of my student loan in January but I need to borrow say 鎷?00 now to pay it back then.?

I really don't know if are serious with your problem...Dell's replies has given you a very rightful Fatherly advise...and your comment seems not sticking into your mind...the solution is already there ...and he told you to live a frugal life but still you're seem too easy with your life...for you can still afford to show hahaha...what does it mean? His good example is the BEST YOU CAN DO. WHY YOU CAN'T HAVE THE COURAGE TO APPROACH ANY POSSIBLE RELATIVES TO HELP YOU TO MAKE UP FOR YOUR OWN INADEQUACY? IS IT BECAUSE THIS IS NOT THE FIRST NOR THE 2nd TIME YOU HAVE NOT MADE GOOD IN YOUR FINANCING? ....THE NEXT TIME IS TAKE THE LESSONS IN LIFE SQUARELY AND DON'T ALLOW YOUR NON-SERIOUSNESS IN YOUR SEEKING FOR BETTER FUTURE JUST BE TAKEN FOR GRANTED....MUST PLAN YOUR LIFE...BUDGET YOUR FINANCIAL CAPABILITY...LEARN TO STAND ON YOUR OWN TWO FEET...YOU'RE OLD ENOUGH TO BE INDEPENDENT...MUST YOU REMEMBER...YOU ARE A MAN....YOU SHALL MAKE YOUR OWN FUTURE....OR BE A %26quot;palaboy sa lansangan%26quot; (search the meaning of that Filipino phrase, and remember that phrase the rests of your life) in the near future and blame the government or your own parents....WRONG! I don't even want you to blame yourself...but choose to be good...and learn NOW your obvious lessons in life...Are you really GIVING IMPORTANCE TO YOUR STUDIES.....???

If you are really asking the world for some options, accept that you are surrendered in your own option to do...meaning you must learn to be serious accepting their advise...may it be right or wrong to you...because you seek for them. So if you feel you're too good for yourself...don't open up yourself for advise....for you are already very good...but the reality you are asking seems you are not....are you?.

May be some of your relatives don't feel entrusting you with good money...even if your reasons is for studies...most probably they were already electrucuted by your alibis....is this true....?

Pardon me if may assumption is not totally right but highly probable had happened.....take the lessons of life...you caused it....nobody did it for you...gud bye!

What does being conditiionally approved for a student loan mean?

There may be a catch.

What does being conditiionally approved for a student loan mean?

It means that there are strings attached, and if these conditions are not met by a certain time, the loan is revoked, or called in for repayment.

What does being conditiionally approved for a student loan mean?

it means there are conditions that must be met. maybe they haven't pulled your credit yet and you must qualify by having a certain score or higher, basically you don't really have the loan yet.

What does being conditiionally approved for a student loan mean?

its weird you should be conditionally approved-- is this a regular stafford loan? generally those loans are automatic. I assume its a third party lender or another loan program outside of the government ones-- in any case conditionally approved could mean approved based on your credit rating-- or your attendance at classes to qualify.

I need to take out a private student loan and i have the choice between Prime and LIBOR. What should

LIBOR and Prime typically move together, so your decision shouldn't be focused so much on the index but rather on important points like:

* Origination fees and annual fees

* The index (LIBOR/Prime) + margin -- if you assume LIBOR and Prime will move together, you want to look at the absolute coupon rate you will be paying today for your different loan options. Be sure to also look at the APR if there are associated fees...coupon rate can be deceptive if your loan options have different fee structures.

* Depending on the type of loan you'll be taking, if you or your parents own a home, you should also look into Home Equity loans as an alternative.

Good luck!

I need to take out a private student loan and i have the choice between Prime and LIBOR. What should i Do?

Plenty of good advice here.