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4 Steps to Make the Most of Your Student Loans
San Mateo, CA (PRWEB) July 20, 2006 -- Now that this year's cap-tossing and graduation parties are in the memory banks, the reality of paying for that higher education is setting in -- but students still have options to choose the best way to handle college and graduate school debt.
"Most Americans with student loan debt saw a flood of news articles encouraging borrowers to consolidate their loans before government loans underwent their annual interest-rate increase on July 1," said Brad Stroh, chair of Bills.com, who noted that because of the rising U.S. interest rate environment and a government-mandated reset of rates on student loans, rates on federal student loan debt increased by a substantial 1.84 percent on July 1. "Now that student loan rates are no longer at the 3 percent interest rates they hit during the economy's slowest days, it pays even more to be savvy about borrowing for school or returning to school."
According to FinAid, two-thirds of college students borrow to pay for school, with an average loan debt of nearly $20,000.
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ANUC SRC wants new loan scheme for continuing students
Koforidua, July 19, GNA - The Students' Representative Council (SRC) of All Nations University College (ANUC), Koforidua, has appealed to the Government to allow continuing students in tertiary institutions to benefit from the new Students Loan Trust (SLT), which was recently announced by the Ministry of Education, Science and Sports. In a statement issued in Koforidua on Tuesday and signed by the SRC President, Kwabena Yirenkyi and Secretary, Andrew Adjetey, the appeal was based on the inability of many continuing students to find the required number of guarantors under the currently operating SSNIT Loan Scheme, which the SLT had come to replace. While commending the Government for the introduction of the SLT, it was of the view that, "instead of only "freshers", the SLT should be expanded to cover continuing students, who due to lack of guarantors, could not access the SSNIT loan and therefore, unable to cope with the financial burden of fees and have deferred their courses." The statement believed that "such a mitigation would go a long way to accelerate the empowerment process of human resource development of the country." It reiterated the commitment of the student body towards the enhancement of education in the country and expressed appreciation for the favourable policies being fashioned by the Government in this regard.