How To Save Thousands in Interest on Your Home Mortgage!
 by: Sameer S Panjwani

So you have a mortgage on your home or planning to get one? Here’s something to consider if you want to reduce your interest payment and save on thousands of dollars. Consider going in for a bi-weekly (more…)

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Aes Student Loans: What Are They?

If you have been looking into student loans for any time at all, you might have heard of AES student loans. AES is the abbreviation for American Educational Services, which is a division of PHEAA, The Pennsylvania Higher Education Assistance Agency. (more…)

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Texas refinancing mortgage law?

My present lender says I cannot remortgage a new loan, at a low rate, as my present mortgage ( 6.25% ) was a Home equity loan. By texas law I must take an other home equity loan. A new loan rate was 4.5% the new home equity rate is 5.25% Is this true

1. (more…)

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Fewer banks imposing new loan hurdles; demand low – Yahoo! News

WASHINGTON – Fewer banks are erecting new hurdles for people and businesses to get loans, a fresh sign credit problems are easing.

In a quarterly survey released Monday, the Federal Reserve (more…)

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Bad credit can be something that hangs around your neck like a weight. If you are struggling with debt, then you might think that your bad credit takes you out of the running for many of the best debt relief measures. The fact of the matter is that this is absolutely not true. Just because (more…)

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Higher education loan – tax write-off?

If i took out a loan for 3150.00 in december 2008, but it was to pay for my tuition in the first semester of 2009, can I claim this on my taxes under “tuition and related expenses”?

Thank you

No Income Verification Home Equity Loan
 by: Levetta Rivera (more…)

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Avoid These Mistakes When Flipping A Home

Experienced home flippers know that there are pitfalls to any promising piece of property, and avoid the most obvious ones. You can, too. Learning from others’ mistakes can result in huge rewards if you find you are ready to start a home flipping (more…)

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Why You Need a Home Loan Countrywide Loan
 by: Mike Yeager

From a small office in 1969, home loan countrywide has achieved recognition among consumers and investors as one of America’s leading home finance companies. Evidence of growth and industry leadership is home loan countrywide’s (more…)

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What is a Stafford Loan?

• It is a form of student loan financial aid that must be repaid
• It is a low-interest rate loan borrowed from a lender, such as a bank or credit union
• It must be used for educational expenses only

To be eligible for a Stafford loan, Cabrillo College borrowers must be enrolled in and attending six (6) degree-applicable units, pursuing a Certificate of Achievement, Associate, or Transfer degree and must maintain financial aid Satisfactory Academic Progress requirements.

Stafford Loan Application Requirements

• Complete the FAFSA online at www.fafsa.ed.gov
• Submit all requested documents to the Financial Aid Office
• Financial aid file has been reviewed
• Final Eligibility and Academic progress have been determined
• Receive either an Award Letter Ready email or Not Pell Grant Eligible email
• Pass an online Entrance Exam
• Complete the Loan Request Documents
• Be enrolled in and attending 6 or more degree applicable units
• BA students are required to be enrolled in and attending 6 or more degree applicable units from the current Educational Plan they have on file with the Financial Aid Office

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After you have received either an Award Letter Ready or Not Pell Grant Eligible email submit ALL of the forms listed below to the Financial Aid Office.

1. Stafford Loan Request Form

2. Loan Disclosure and Terms

3. Worksheet for Student Borrowers

4. Budget Planning Worksheet

5. Student Loan Quiz

Note: All forms must be legible, filled out in BLACK ink and cross-outs must be initialed.

• You can choose any bank or credit union that processes FFELP loans for your lender. If you have previously borrowed, you should select the same lender for all subsequent loans (Please refer to the enclosed lender list)
• The Financial Aid Office will determine your eligibility and certify your loan request.
• EdFund will mail the Master Promissory Note (MPN) to you.
• You must read, complete, and sign the MPN and mail it to your lender for processing.

The Master Promissory Note (MPN) is a legally binding document that obligates you to repay your student loan. Your MPN will be sent to the address we have in our system unless you indicate a different address on the loan request form. If you do not receive your MPN, call your lender.

Note: Incomplete applications and/or failed loan quizzes will be returned and can delay the loan process.

Useful Tips

• Always notify your lender or servicer if you change your name, address, telephone number, school, completion date, or financial situation.
• The Servicer is a company hired by a lender or secondary market to manage the day to day details of loan tracking and collection.
• The loan guarantor EDFUND and the federal government insure most Stafford loans.
• A defaulted student loan can result in a negative credit rating, your account can be referred to a collection agency, your wages can be garnished, you may not receive an income tax refund, and you will not be eligible for future financial aid. To avoid loan default, call your lender or servicer to arrange a payment plan that agrees with your budget.
• A Deferment is a temporary postponement of student loan payments. Reasons for deferments include: enrolled in school at least half-time, economic hardship, unemployment, Active Duty.
• A Forbearance is a temporary postponement or reduction of student loan payments at the lender’s discretion.
• Grace Period is the period of time (6 months) after graduation, withdrawing, or dropping below half-time enrollment (6 units) and before repayment begins.

For more details on student loans, please visit Know More About Loans Blog.

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1. Student Loans and Possible Debt – How Students Get Into Debt and How They Can Opt For Debt Relief by Lisa Archer-Jones

   Education loan is a form of financial aid that must be returned with interest. (Scholarships, however, should not be repaid.) Education loans can be in three main categories: student loans (such as Stafford (more…)

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