Welcome to Student Loan Guide
Low Interest Rate Student Loan Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
You may also listen to this article by using the following controls.
Understanding Stafford Student Loans
from:For many years, the Stafford student loans program has been providing students across the country with the opportunity to continue their education. Stafford loans come as both subsidized and unsubsidized loans, and are only partially awarded based on a students credit rating. Many students with less than perfect credit can still qualify for Stafford student loans.
To apply for Stafford students loans, contact your school's financial aid department and request a FASFA, or Federal Application for Student Financial Aid, or you can fill one out online. You should be certain that you check the deadlines for filing before you start your first semester, or you could find that you have waited too long to qualify for any Stafford student loans.
Subsidized Vs. Unsubsidized Loans
There is a substantial difference between a subsidized loan, and an unsubsidized loan. Subsidized Stafford student loans offer the opportunity to go to college to student with a less than perfect credit rating, as they are backed by the Department of Education. A subsidized student loans is actually much easier to get from a lender, because of the fact that the government guarantees payment to the lender if you default on your loans.
Unsubsidized Stafford student loans are a little harder to get, as they are based upon your credit rating. While students with only slightly less than perfect credit can still get an unsubsidized student loan, you can greatly improve your chances of getting unsubsidized Stafford student loans by checking your credit record before applying, and clearing up any minor discrepancies.
Building Your Credit With Stafford Student Loans
For students with little or no credit, Stafford student loans are an excellent way to build an established credit rating. Students who pay their loans off on time, suddenly find themselves several points higher on the credit rating scale, as they now have a loan of several thousand dollars that has been paid in full.
Many students, on the other hand, do not realize the importance of paying their Stafford student loans off on time, and end up defaulting on their loans. Defaulting on your student loans will have a negative impact on your credit rating that can follow you for years. Even if you have a subsidized loan that is backed by the Department of Education, it is vitally important that you make your payments on time; or that you apply for a deferment of your Stafford student loans payments, due to unforeseen financial hardships.
Low Interest Rate Student Loan News
Votes on Student Loan Interest Rates Nothing But Political Theater - U.S. News & World Report
Votes on Student Loan Interest Rates Nothing But Political Theater U.S. News & World Report Both sides of the aisle are pointing the finger at the other party in regards to Thursday's student loan vote. By Lauren Fox The Senate is holding a vote Thursday to stop student loan rates from doubling on July 1, but don't hold your breath while ... |
Senate revives student loan interest rate legislation - The Hill (blog)
 Christian Science Monitor | Senate revives student loan interest rate legislation The Hill (blog) By Daniel Strauss - 05/23/12 04:07 PM ET The Senate will vote Thursday on two competing bills that extend lower interest rates on federal student loans under a deal worked out by leaders of both parties. Neither the GOP nor Democratic bill is likely to ... Interest on student loans set to double Student loans: Pay them off, or invest elsewhere? Ambrose: Student loans fail students |
Reid says student loan bills will fail in Thursday votes - The Hill (blog)
 Northland's NewsCenter | Reid says student loan bills will fail in Thursday votes The Hill (blog) on Thursday predicted that two versions of legislation to keep student loan interest rates low for another year would fail in votes later today. "I'm certainly aware of how things work around here. Neither one of these things are going to pass, ... Reid Offers Grim Outlook On Fate Of Student Loan Bill |
Grassley rails against 'immorality' of student loan interest rate - Mason City Globe Gazette
Grassley rails against 'immorality' of student loan interest rate Mason City Globe Gazette The interest rate increase would cost the 255404 Stafford Loan borrowers in Iowa an average of $993 over the life of their loans, bringing the total cost for Iowans to $253616172. Ending federal funding that maintains the lower rate would save ... |
Interest rate debate a sideshow - Wisconsin State Journal
Interest rate debate a sideshow Wisconsin State Journal Compared to the rising cost of college — which is far outpacing family income and inflation — tweaks to interest rates on debt are a sideshow. Congress has until July 1 to extend a low interest rate of 3.4 percent for subsidized federal student loans. |