Month: January 2019

Stafford Loans, A Brief Introduction

Stafford Loans, A Brief Introduction

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In 1965 the US Congress set up the Federal Family Education Student loan Program (FFELP) to give financial aid to individuals. One area of this loans program is Stafford student loans which were first planned in order to help students in real financial need though currently represent in excess of 90% of all Federal education loans.

Over time Stafford student student loans have been refined along with altering scenarios and today there are two kinds of the financial loan – subsidized and unsubsidized.

For sponsored loans the U.S government will accept accountability for repaying any sort of interest which accrues on a loan via the particular date of supply up until the day that the student has to start repaying the financial loan. In general a student doesn’t have to provide payments on condition that they stays enrolled in a course of study that is regarded as a ‘half-time’ or more program as well as for a period of six months following the end of their course. A student can still begin to make payments sooner if he / she wants to do this.

Since interest will be subsidized, student loans are typically exclusively provided in cases of need and administrators will examine both a pupil’s and the family’s net income when deciding on whether or not the pupil is approved to get a subsidized Stafford education student loan. Students are required to submit the Free Application for Federal Student Aid form that includes specifics of net income and every student will then be designated a number referred to as Expected Household Contribution (EFC) worked out using the stated income.

Around two-thirds of all subsidized Stafford loans are granted to college students along with parents getting an Adjusted Gross Income of lower than $50,000 per year. An added quarter of subsidized student loans are granted to families inside the $50-100,000 per annum bracket. Following this the classification of ‘need’ gets to be a bit confused and slightly less than one-tenth of student loans are provided to pupils together with a combined household income of over $100,000.

For students that do not necessarily receive a subsidized educational loan the majority can secure an unsubsidized Stafford financial loan. The foremost distinction at this point is the college student is required to fulfill all student loan interest installments, although again payment won’t generally start until 6 months after the conclusion of the student’s course of study.

The workings of the unsubsidized Stafford financial loan means that a loan may be fairly high priced as interest builds up during the period of study and therefore the amount for eventual repayment can too increase. Let’s consider a somewhat simplified model.

Let’s say that a student borrows $5,000 at the start of his or her 1st year at an interest level of 6.8%. Around the ending of the educational year the amount of interest owing is $340 which inturn shall be added to the loan amount. Through the next 12 months the college student … READ MORE ...

Secrets For Obtaining an Online Nursing Degree

Secrets For Obtaining an Online Nursing Degree

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The nursing profession in the United States has for some years now been witnessing scarcity of staff. The retirement of nurses who have come of age is affecting the provision of adequate care for the aged.

Ironically there is an advantage in this serious situation for student nurses. In the past 15 years the basic remuneration for professional nurses has constantly been on the increase without any sign of slacking. So if you do an online nursing program and qualify you are sure of an above average pay in the United States.

In view of the above, the easiest means to commence a vocation in the nursing career is to register for an online nursing degree program which will enable you to schedule your course time-table to suit your convenience for the study of your course. You can complete your program at your own convenience or at the stipulated course duration.

Many distance learning institutions offer online nursing degree programs. The University of Phoenix and Walden University are notable for demanding an entry-level degree qualification, while if you are a registered nurse with an associate’s degree you may be offered a bachelors degree program.

However, if you decide to enroll for an online nursing degree program, make sure that the University of your Choice is accredited and that it has good track record, because many universities make false claims of offering quality online degree programs. I say this because most students just jump on the first seemingly good online institution they come across. Don’t be like that.

Tuition Fees:

Financing of online education can still be difficult for most students. However, note that you can get financial assistance from the government or some private loan firms online. Ask questions from the school authorities, majority of the recognized online colleges have experts on financial aids who can assist you with the issue of financing your online education, which is one of the challenges of online degree programs.

To conclude this article, note that if you can effectively manage the challenges of harmonizing your day job and family responsibilities plus find funding, you can smoothly conclude your online nursing degree program without hassle. So, the ball is now in your court to get a nursing online degree or upgrade your present nursing qualification. I know you can.… READ MORE ...