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Alternative Student Loans

There’s a whole host of evidence to show that those who have a degree not only earn more, on average, over a lifetime, than those who don’t, but they also earn it faster and find it easier to get a job.

Such loans can fill a funding gap. Often such a gap is created when a student is awarded a Stafford or Perkins loan, and then realizes that the amount in the loan does not fully cover all of the students expenses.

Borrow it – Ask a friend, or family member if you can borrow the money. You can let them know it’s a good cause, and just to let them know that you’re going to put it toward college, you can have them pay the college bill direct. Let them know that you’re going to pay them back plus interest. If you have to, I would strongly advise that you work out a contract, so that each side feels comfortable.

If the decision is still to be made whether you can get a government student loan, it might also be useful to find out the pros and cons of alternative student loans. For each individual there will be preferences about cost; repayment; deferrals etc. as well as your personal financial and domestic situation as well

The lenders of alternative student loans have put their loan applications online. Those applications are for secured loans. The lenders thus seek some security when providing a student with loan money.

Note that there are many alternative student loans being offered in colleges and universities today and some of these are actually very affordable. The wide range of financial institutions that are out there vying for your business means that the fierce competition.

Ask the college for work – Some colleges will allow you to work for them in exchange for tuition credit. This is a great way to get paid in credits, and help out the college as well. It will look great on your resume as well!

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