Helpful student loan articles

How a student loan can help you!!!

The average four-year public college or university costs a little over $6,000 per year (NOT including room and board), and most full time students work only part time earning minimum wage - these numbers simply don't add up! Based on a $7.50/hour wage and an average of 20 hours/week, a student will only earn $7,800 before taxes! If you want to eat as well as take classes, something else must be done! Student loans are great because they give college students the opportunity to get their degree and start earning some real mone before they must pay back their loan.

 

Interest Rates

Anytime you borrow money, including a student loan, you will end up paying back more than you borrowed. The interest rate, which is about 6% on the average student loan, is determined by the borrower's credit and is subject to change depending on the loan you receive. Some loans are interest-free while the borrower is enrolled at least half time, and most loans will have an interest-free grace period (ussually 6 months) after graduation or after dropping under half-time.