Bad Credit Borrowers Can Avail No Money Down Auto Loans To Buy Their Dream Car

Inventions have come and gone. But, the invention called automobile has stayed forever. Americans have simply welcomed cars onto their roads and into their hearts. It has become an absolute necessity now. It's amazing when we are able to buy our favorite car and fulfill our long cherished car dream.
Sorrowfully, car buying is difficult because of down payments. The initial upfront amount that is paid while buying a car often creates mayhem in the lives of car buyers. Most buyers face problem in arranging money. Car dreams are shattered due to lack of down payment. And, if a borrower has a bad credit, he is doomed to see his application rejected.
But, things won't be the same now. Lenders have perfectly understood this difficult situation and have introduced no money down auto loans. Don't worry about your average or poor credit score. You can avail this loan option with any type of credit score. It's not like lenders have suddenly become sympathetic. It's simple economics. Many buyers face problem in getting down payment and their bad credit scores make sure that they are left high and dry. This opens a niche segment for lenders and a great business opportunity. Also, the lenders are going to use your car as collateral so they are not doing a favor. It's just plain business sense.
While getting these loans, a trade-in would benefit you. It will bring down the loan amount and also lower chances of an 'upside-down' loan. If you don't have an old car, make use of rebates. Most dealers offer the choice between rebates and down payment. If you forgo rebates, then you can opt for the no money down option.
How to Avail No Money Down Auto Loans with A Bad Credit History?
Large down payments can be tackled with no money down car loans. All you need to understand is the exact procedure to avail these loans. Here's a detailed explanation of the same.
Ignorance Is Never Bliss When It Comes To Credit Score
Know your credit score before applying for a loan. There have been instances when dealers and lenders have charged exorbitant interest rates under the pretext of a bad credit score. So, check your credit report and credit score. If there are any unwarranted inquiries or errors, ask the credit bureaus to remove them. It will result in a better credit score. Also, paying smaller debts can help you. Once you are sure of a perfect report, apply for the loan.
Internet to Your Rescue
Make use of internet to get in touch with lenders that offer zero down payment option to bad credit borrowers. While dealing with online lenders, ensure their reliability and security of your personal information.
Easy Procedure
Applying for no money down auto loans is easy because you don't require any extra paperwork. Pay stubs / income tax returns (for self-employed) can be used for proving employment and income requirements. Other than that, utility bills will serve the purpose of ascertaining your time at residence.
So, don't wait anymore. Buy that car you always wanted with no money down auto loans. It's time to forget your credit score blues; it's time to drive your dream car.
With no money down auto loans, poor credit borrowers can say no to humongous down payments and say yes to humongous happiness!
All the best!

Should I Refinance My Car Loan?

The first thing you should do in deciding if a car refinance loan is something you should consider is to check the documents on your existing car loan. You will want to be sure that there is not any penalty for prepayment and that the interest on your auto loan is not based upon "The Rule of 78s." Most loans today are simple interest loans so I would be surprised if your loan wasn't based on this calculation method. However, loans that use the "The Rule of 78s" method of calculation basically collect 75 percent of the interest due on the note during the first 50 percent of the loan's term. Very few lenders issue loans under the rule any more, but you still need to check.

The primary objective of a car refinance loan is to lower your monthly payments or reduce the amount of interest you pay on the loan. This can be accomplished by lowering the interest rate on your note, extending the term of the note or some combination of the two. One of the most common reasons for a car refinance occurs when someone accepts expensive dealer financing and then finds out they can get a much better rate at their bank or credit union. In fact many times the bank or credit union will give the borrower the new car rate if the vehicle was purchased within the past 90 days. The financing of your vehicle is one of the largest areas of dealership profit so securing your loan outside of the dealership is usually the smartest financing choice for you. Even if you don't get the financing up front and you end up using the dealership to finance your vehicle purchase, you can still refinance and in most cases get lower car payments.

A car refinance loan may be in order if your credit score had a few dings when you purchase the car but now it has improved. The better score may allow you to shave several points off the interest rate and get a longer term, dropping your monthly payment considerably. Most consumers improve their credit scores after making 5-6 payments on time on their vehicle. It doesn't take much improvement in credit score to qualify for a lower interest rate. Many consumers just refinance to lower their payments and others are more interested in lowering their current interest rate.

The bottom line being if you are considering a car refinance loan you need to do your research before you sign on the dotted line with a new lender, be sure that you are in fact saving money with your car refinance. Check online for lenders offering this product. It is online where you will typically save the most on your auto refinance loan. You can also find useful tools like car loan calculators and other helpful resources online.

How Car Finance Works and What's Involved

Most will agree that cash is king. Most will also admit however that they don't have the means to do this. This leaves one option, a car loan. There are a number of different options and ways to approach financing your dream car. The one that's best for you will depend on your particular needs.

How the process works:

The application process will be fairly standard across the board, with some variations depending on which lending institution you go through.

1. Firstly you will need to fill out an application form. This will involve providing information including your personal details, employment details, monthly expenses and monthly income. The institution lending you the money will then use this information to determine whether you are eligible for vehicle finance.

2. The financier will ask you to provide copies of certain documents during this process to reinforce the
validity of your application. These documents will usually include: A Valid driver's license (a no brainer) recent bank statements or pay slips, proof of residence (for example: A utility bill with your listed home address on it).

3. Once you've completed the application process and provided all the necessary documentation, you'll need to wait a few days while your application is reviewed. If all goes well a consultant will contact you to confirm your application.

What are my options?

When it comes to car finance, you inevitably always end up going through the bank. You can approach a bank directly for finance, or you can get the dealership you're buying you're vehicle from to set up the finance. Larger banks will have a special division that deals with vehicle finance. When you buy the car from the dealership they will ask you whether you have finance set up already or if you want them to organize it for you.

The interest that you will be paying back will depend on the repo rate, your credit record and the loan period. The repo rate is the rate that banks lend money from the government reserve bank. The bank will add a percentage on to the repo rate to make a profit and cover costs. This is called the "prime" rate. Usually if you have a good credit record and fixed assets such as a house, you will be able to get prime or minus prime. Interest rates and loan periods will differ between banks.

A family member: The advantage here is flexibility. If there's someone in your family that has the means to lend you money to finance your car, it may be a good option to consider. You will most likely be able to negotiate the terms of the loan to a much greater degree than you would through a bank or dealership.

And there you have it. (Well more or less) If you have a better understanding of car finance then I guess my job is done.

Arizona Title Loan Laws

There are a few laws and regulations to go by when taking out an Arizona title loan that may vary from other states, so it's important to know the requirements so that you are able to efficiently meet them when obtaining your own loan. In this article, a few of the guideline requirements regarding title loan laws will be mentioned in order to help you remain within the guidelines of the law should you ever need to obtain a loan on your vehicle, when you are in need of fast cash for emergencies!

    The Arizona Laws are regulated by the state of Arizona, and normally fall under what's called the Arizona Revised Status, or ARS. Companies that offer loans are not allowed to impose or accept an interest rate that exceeds 17% for loans under $500 according to the ARS 44-291.

    In Arizona, sliding scale curriculum is implemented, and allows loan amounts that range from as low as $500 to a high of $2500 to have limited finance fees of 15% or less. Any loan amounts ranging from $2500 to $5000 are capped at 13% interest, and any loan over $5,000 have 10% interest.

    There are no specific rules, regulations or laws specific to many of the cities in Arizona, but they for fall under state laws and federal regulation, making them impossible to legislate around.

    It is also required by Arizona State Law to present a valid identification and an Arizona vehicle title belonging to the owner of the vehicle you wish to take a loan out on, as well as being at least 18 years of age.

    Car title loans in Arizona allow you to make affordable monthly payments will be made in order to pay off the debt, and in the meantime, once you've obtained the loan, though you may maintain your vehicle, a lien is put on the title. Once you've paid the loan off in full, the lien is removed from the car title, and full ownership is returned to you.

These guidelines of some of the Arizona title loan law requirements will help you be prepared should you ever need to use this method of loan, a trustworthy loan company should be able to help you to receive the cash you need quickly through a title loan, as well as assist you in being able to remain in compliance with the Arizona laws!

Bad Credit Reports and Car Loans - What Can You Do About Them?

For people with bad credit, it is quite difficult to get a car loan. However, it is not entirely impossible. There exist finance companies specializing solely in providing loans to consumers with poor financial past, but the catch is that these companies demand a very high interest rate in return. And this is a problem, because such a consumer, with unstable financial condition, can only afford a car loan on a low interest rate. A low interest rate becomes even more important over the passage of time, as it eventually saves one plenty in terms of cash. Still, if one cleans up his/her bad credit as much as possible and picks the right places to apply for finances, it is very much possible for them to end up with a car loan on good enough terms. For that, we have a fairly simple three-step process.

Reviewing your credit state. You might think that you know your credit rating and that you know how good or bad it is, but it's always best to get the specifics checked out by ordering credit reports from trusted companies like Experian, Eqifax and TransUnion. AnnualCreditReport.com is run together by these three credit bureaus, and they give out credit reports free of cost. This website is the only place where one can have free credit reports. If you place orders on their commercial websites however, you will definitely be charged for it.

Reviewing the reports for mistakes. The problem with these credit bureaus is that they often tend to make mistakes and thus, report incorrect information, for example, getting the dates wrong. Therefore, your job after receiving your credit reports is to check each entry thoroughly for any inaccurate data. If you do find any errors or inaccuracies, it is your right to get them rectified. Remember that you must fill out forms separately for each of the three bureaus, on their separate websites.

Applying for the loan.Once your review is done and the bureaus are done processing your reports, they will give you a new credit report, which will reflect the positive (or negative) changes in your records. Every bad item that gets removed increases your chances of getting a good car loan. Start applying for a car loan from your local, closest bank or credit union.

Keep alternates. Keep the possibility in mind that your application for car loan may get turned down; in which case, you should have a backup. Apply to alternate sources of finance. It is true that the more credit applications you have, the lower will be your credit score. But as long as all those credit inquiries are made within a year, for the same loan type, they will all count as one single inquiry.

Find a Legit Auto Loan Online, Even With Bad Credit: Three Tips for Success

As the global economy hit a slump and lending dried up in the past few years, many new companies have come on to the market claiming to offer loans for people with bad credit. Whether these are traditional unsecured loans or a more specialized loan like an auto loan, finding the best option for your budget, given bad credit, can be a hassle.

This article will review three key criteria that you can use to determine whether or not the lender you are looking to for an auto loan is a good choice. Finding an auto loan with bad credit online is not only possible, but easy if you know what to do and who to ask.

Tip #1: Check the Better Business Bureau

When people shop online with an unknown retailer, they will often go to great lengths to ensure that the business practices of this retailer are legit. You should use the same sort of caution with an online lender and a good place to start your search is the Better Business Bureau, which is also called the BBB.

Businesses with BBB approval will generally advertise this on their website, which is a great sign, but when in doubt you can always go straight to the source - the BBB website - and do a search for the company. Once there, the BBB will give you statistics about complaints filed and whether or not they were adequately resolved. All of this accumulates into a grade given by the agency. The higher the grade, the better the business - look for a lender with a grade of B or higher.

Tip #2: Communication Channels

Because of the convenience of online lending, many potential borrowers skip logical steps in the process of talking to lenders. Though online forms are there to help you, simply filling out the information that the lender requires for your auto loan and waiting for a quote is not enough. Especially when operating with bad credit, checking to make sure that there is a published, working phone number as well as mailing address is essential to make sure that the lender you are working with is legit.

Do not be afraid to call the lender and ask to speak to a representative about the details of their business and/or your auto loan. If they are unwilling to speak to you or cannot answer your questions, this is a good sign that they are operating a scam.

Tip #3: Never Pay Up-Front

By offering you an auto loan with bad credit, the lender is clearly helping you out. However, by charging you interest on that auto loan he is also making money. For that reason, charging you any sort of fee for the pleasure of your business is a sure sign that a lender may take your money and run. There is no call for an up-front or preapproval fee regardless of your bad credit and any lender who charges one is likely a fraud.

Getting a Loan with Bad Credit

Thankfully, majority of the lenders operating online these days are in the business in order to legitimately help borrowers with bad credit get an auto loan. However, there are also scammers out there, which is why being alert for the signs of fraud and bad business is the best way to protect yourself and your future.

Car Loan - Tips for Securing the Best Car Loan Offers

Sometimes the only way to purchase a car or truck is to rely upon the help of a car financing company. These companies will give you the money you need to finance your new or used car purchase, and allow you to pay back the money with interest over the course of a few years. If you are considering using a car financing company to obtain a car loan for your new or used car then you may want to consider using some of these tips to help you secure the best loan offer you can get.
Shopping around for a car loan can help you get the best loan offer possible. Many people rely upon the car dealership's financing company to help them secure their loan. The problem with that is the dealership knows people rely upon them and therefore offer higher interest rates. Ask for quotes at several different banks or financial lenders to see what interest rates and loan terms they can offer you. Shopping around and securing a loan before you go car shopping will not only help you get the best deal possible on an auto loan, but it can help give you leverage when trying to negotiate the price of your car.
Another way to secure the best possible loan offer is to put a down payment down on the car or truck. Financial lenders view down payments as a sign of financial responsibility, and are willing to offer better interest rates and loan terms to people who finance their cars with a down payment. A down payment will not only help you secure a better loan deal or interest rate, but it can help lower your monthly car payments as you have already paid a portion of the car off before securing the loan.
Improving your credit score can also help get a better loan offer. Many financial lenders use a credit score to determine what interest rates and loans a person is qualified to take on. A low credit score will result in high interest rates and even a denial of a car loan, while high credit scores can lead to lower interest rates. People who have the time to improve their credit score before applying for car loans can see a substantial improvement in the interest rates and loan offers people receive. Improving a credit score by making regular monthly payments, paying down debts, and checking for mistakes can help secure a better car loan offer.

What You Need to Get a Car Loan

If you are planning to finance your next car purchase you are not alone. In fact, more than 90 percent of all the new car buyers need some sort of financing to buy their new vehicle. However, if you are planning to buy a new car by using a vehicle financing deal, you should bear in mind that there are a few things that you will need to do to make the financing experience less painful and more satisfying in the long run. Some of these are as follows.
Select the car that you want
If you need a car try to determine exactly which one you want. Be a savvy consumer and investigate the different models and brands on the market. Look for the qualities you want, like interior space, cargo room, price and mileage. You should also consider the service record of the model you are considering. Try to determine if the previous buyers have been happy with their new vehicle or have there been a number of service issues. Examine all the important aspects carefully before deciding on which model you want. But to be sure, try to narrow down your choice before you ever set foot on a dealership lot.
Determine what you can afford
You should start looking at financing options. How much car can you afford and what sort of financing can you get for it? These are questions you need to ask yourself and find answers before the real shopping begins. If you let the dealership make all these decisions for you, you might end up with a vehicle you would rather not have. A new car purchase is a big decision and one you have to live with for several years. Do your homework and don't settle for what you don't want.
Know your credit rating
You also want to know your credit rating before you select a financing option. It is best if you get a copy of your credit report and start checking it for errors. Any errors on your credit report should be fixed before you start shopping around for financing options. The better your credit rating the better financing deal you can expect to get.
If you have shopped around for different financing options you can better judge the deals you are offered. If you know your credit rating you also have a better idea of how good a deal they should be making you.
When you go shopping for a new television you no doubt compare prices online and in the local advertisements posted in the newspaper. The same technique should apply when you are shopping for a new car. Compare vehicles, compare financing and walk into the dealership knowing what you want and what you expect to pay for it.

Auto Loan - Obtaining an Auto Loan With Bad Credit

Many people with low credit scores or a bad credit rating assume that they are automatically denied when it comes to obtaining financing for a new or used car. While that might have been the case a few years ago, obtaining an auto loan when you have bad credit is possible. With a little research and work, people with bad credit can obtain a car loan that can be used to finance the purchase of a new car. If you have a low credit score or a bad credit rating, the following tips can help you obtain the financing you need.
When applying for an auto loan with bad credit you should first obtain all your information from the credit reporting agencies. Federal laws require that all three major credit reporting agencies must provide you with a copy of your profile for free. Your credit reports will show you what debts are being reported, if you are delinquent in any bills, and exactly how low your credit rating really is. Obtaining your profile will allow you to see exactly what your credit rating is, and how you can improve it.
After you have obtained a copy of your credit profile, you can work at cleaning up what is on that credit report. Sometimes what is being reported on those credit reports is either inaccurate or should have been removed as it is past the standard seven year mark. Writing a simple letter disputing what is on the credit report can help clean up and possibly improve your credit score. It will take two to three months to remove the stuff from your credit report but disputing mistakes can significantly improve your credit score and give you access to better interest rates.
If you are having difficulty obtaining an auto loan due to your bad credit you may want to try applying at several different banks, financial institutes and online car financing companies. Every company has a different set of qualifications, and some even specialize in offering people with low credit ratings loans. Some people with bad credit ratings are afraid to shop around for loan quotes for fear it'll lower their credit rating. However, if you apply for loan quotes within a month of each other they only count as one quote on your credit report. Getting a car loan might be difficult if you have a bad credit score or rating but it is not impossible. Shopping around for loans, and cleaning up your credit report can help you obtain the financing you need.

Low Income Auto Loans - Is It Possible To Get A Car Loan With Low Income?

Modern technology has gifted man one of his greatest passion - cars. Ever since the invention of steam engine vehicles in 1769, cars have been popular. Everyone is just floored by the beauty of a car.

Sadly, buying a car has become difficult. All thanks to high purchase prices of these beauties. Most new cars start from $20,000 and a good used car is also expensive. Also, the gas prices are increasing which makes car buying very hard.

The economy is reviving and people have just started getting their jobs back. Finding a high income job is still a challenge. This creates a very bad situation because a car is needed to reach your work place but you cannot afford it with your job. Lenders have understood this situation quite well and that is why low income auto loans have been introduced.

Most lenders require you to earn at least $1,500 per month. But, you can avail these loans even if your income is as less as $1,000. Now, don't worry if you earn less than it because there are many other factors which decide your approval. Know them so that you can tackle them well.

1. Credit Score - Higher the score, better it is.
2. Credit Profile - Here the requirement is that it should be longer.
3. Term of Loan - You should try to keep it short.
4. Loan to Value Ratio - 70% -80% is optimum.
5. Down Payment - 10%- 20% would improve your chances.
6. Employment Term - At least six months.
7. Time at Residence - You need to be living at the same residence for at least six months.
8. Co-signer - Having a co-signer reduces lender's risk.

When you have a low income, you must be better at these aspects. Now, it is quite possible that you have a bad credit score and earn less. For such a situation, get a larger down payment and search for a co-signer.

Now, as you have low income, it is essential that you don't go for a very expensive car. If you go for an expensive car, its payments would also be huge. To avoid them, you will have to go for an unnecessarily longer loan term. This will increase the chances of an upside down loan. Hence, a used car is your answer. Once you improve on your income, you can always buy your dream car. Right now, it is important to get you a car that works for you. When you go for a pre-owned car, don't forget to read the Vehicle History Report. It's always good to know what you are getting into. Also, get the Odometer Disclosure Report because few lenders do ask for it.

Applying for low income auto loans is simple because you don't need any additional documents. The only important thing is to prove your income. For that, you can use your recent pay stubs. If you are self-employed, it is important that you provide your IT details to the lender.

Low income auto loans are easy to get and a boon to those who are struggling with low income. So, don't wait anymore. Cars are a necessity and it's time to fulfill your car needs.

Refinancing a Car Loan - What Lenders Look For

If you are able to refinance a car loan at a lower interest rate than what you originally obtained you may be able to save as much as $100 a month on your car payments. While the process of learning how to refinance a car is simple, meeting the requirements that are set forth by the financial lenders might be difficult. Companies that offer car financing have a list of requirements that must be met before they will consider offering you a new auto loan. The following are some of the requirements that must be met in order to refinance auto loans.

Car financing companies will require that the value of the car must be more than what is owed on the loan. Sometimes people will try to refinance a car when they owe more than what the value of the car is worth. Almost all lenders will offer a car refinance option if you are in an upside-down loan. To get out of the upside-down loan and possibly qualify for an auto refinance you will need to pay more than your monthly car payments in order to lower the amount that you owe on the car. Once the amount is lowered you may qualify for a new loan that can be used for financing a car.

Another requirement car financing companies will look for when people try to refinance car loans is how much you owe on the car. All financing companies require that you owe more than $7,500 on your existing car loan in order to qualify you for a loan to refinance a car. Some financial lenders may waiver this minimum requirement but it will require you to fill out extra paperwork. The minimum amount required on an existing auto loan is set because an auto refinance will extend your loan payment, and it isn't cost-effective for amounts less than $7,500.

The last requirement needed to refinance a car is a fair or good credit score. A good or fair credit score will ensure that you are getting the best possible interest rate a financial lender can offer you. Getting an auto refinance is still possible with a bad or low credit score, but you may not be offered the best interest rates. Knowing what lenders are looking for can help you prepare for the process required to obtain an auto refinance and help you get the best possible interest rates and loan terms possible.

Your Debt Consolidation Loan Tips

If you have exhausted all other options when it comes to relieving debt, consider a debt consolidation loan. The best way to think of this type of financing is as a combination of several different debts or loans into one payment. The most common type of debt that needs consolidation is credit card debt, and a card debt consolidation has several advantages.

One of the most appealing advantages to consolidating a debt consolidation loan is that it makes paying back your debt a simpler process. Instead of a number of debts to pay, all with different due dates each month, consolidating debt allows one payment per month. The consolidating company is responsible for making sure the payments get to each creditor. Be it a student loan consolidation or credit card debt consolidation, the situation allows the individual to focus time and energy on finding other ways to improve the financial situation.

Another way in which a debt consolidation loan is helpful is that it lowers the rate of interest. Credit cards tend to have high interest rates, so it is always good news when an individual finds a loan at a lower rate. This lower rate also lasts for the duration of the payment period, though with a consolidated payment plan, individuals pay off the loan for an extended period. Be sure to keep an eye on current interest rates. Interest rates will be determined in large part by what is going on nationally.

It is entirely possible to use this plan to help seek a more stable financial standing. Finding a reputable consolidation company, however, is paramount. Take as much time available to research the many options. The best bet is to go with companies that are familiar and well known.

A debt consolidation loan is used most often when someone has accumulated too much credit card debt. Credit card debt consolidation is useful in relieving some of the stress caused by collection agencies, but it cannot - and should not - be viewed as a life jacket that will save all. Individuals must do what is necessary to develop good, responsible spending habits. The importance of budgeting can not be overstated. Always avoid taking out more loans for debt relief - it simply makes matters worse.

A debt consolidation loan has many advantages. It can reduce high interest rates and simplify monthly payments by reducing them to one. However, individuals must do their part by learning to spend wisely and responsibly. A card debt consolidation loan can only take a person so far, and a debt-free future is up to the individual.

About the Author
More about debt consolidation and debt consolidation help at http://debtconsolidation.answersaboutfamilyfinance.info

Source: Free Articles

Debt Consolidation Ideas and Debt Management Ideas

Every month there are tons of bills that come in. There are utilities, car loans, student loans, health insurance, mortgage or rent, cell phone, cable, gas and groceries to be paid. And by the time you get done with those, the next round is due. No doubt you've probably wished that there was an easier way to do all this. There is; it's called debt consolidation. By consolidating your debts you will end up with fewer payments to write out each month and save yourself money and time.

You can consolidate by using credit cards. The goal is to take all of the credit cards that are currently in your possession, and try and find the lowest interest rate between all of them. After you find the lowest issuer, try to transfer all of the balances over to one credit card. You will have one large balance, instead of ten semi-large ones, and you will also only have one payment to make a month. You can also apply for a new card and make a transfer so that you only have two cards, with obviously two payoffs. However, be careful when applying for new cards. Too much credit can equal a lower rating for your credit score.

Another method you can use is a home equity loan. With this kind of loan you can borrow against the value of your home with a fixed amount of money for a standard period of time. Usually these loans will offer lower rates, lower payments, and their amounts can be tax deductible if you itemize. You may also choose to refinance your home and take out money in order to pay for some of your bills. There is also another type of loan called a personal security loan. This loan can be tricky because the only thing that you are offering for a guarantee is yourself. These loans are more risky so it is likely that the loan will be more expensive, and you will be repaying on that loan for an average of 10 to 15 years. The personal loans can be harder to get if you have a substantial amount of debt.

You may seek counseling for your debt, but a credit counselor is not going to consolidate your debt, rather they will work out a feasible payment schedule for you to follow. You will make one payment to the credit agency and they will turn around and pay your bills. However, most do not offer this service for free, so make sure that you are unable to get your act together before enlisting the help of a professional.

Many people today are choosing to enlist the help of a debt settlement company. For this option you stop paying your bills and the creditors contact your debt settlement company instead of you. The debt settlement people will negotiate with the creditors to reduce the amount of your balance, sometimes up to as much as 50%. In cases such as this, quite a few people can find themselves debt free within two years.

Debt can consume an individual and it can seem to pile up all around without any light at the end of the tunnel. Investigate some of the more common solutions, and possibly talking to others who may be able to offer comparative advice. You may be surprised to learn how many people are in similar situations when it comes to debt.
Learn more about debt consolidation at http://answersaboutdebt.com
Source: Free Articles

How Would Tying Student Loans to Repayment Rates Affect Higher Education

http://citizensbankstudentloanconsolidat.blogspot.com

As the U.S. Department of Education considers linking colleges' and universities' eligibility for federal student financial aid to the school's student loan repayment rate, some analysts are looking at just how large the student loan default problem is and what might happen if new college loan repayment rules take effect in 2012 as expected.

Defaults on college loans can be measured in a number of ways, but one of the most common measures of default is the official cohort default rate, defined by the Department of Education as the percentage of a school's student loan borrowers who enter repayment on certain federal education loans "during a particular federal fiscal year, Oct. 1 to Sept. 30, and default or meet other specified conditions prior to the end of the next fiscal year."

In other words, the cohort default rate is the percentage of borrowers who enter repayment on their federal loans and then either stop making payments on their loan debt or never make payments at all during the 12-24 months after entering repayment.

Student Loan Default Rates vs. Repayment Rates

Government analysts now want to look more closely not at schools' default rates on federal college loans but at schools' repayment rates on those loans.

Consumer and student advocates have long argued that the cohort default rate, as currently measured, severely underrepresents the proportion of a schools' students who are struggling with college loan debt by looking at only an initial 24-month period. The two-year snapshot, these critics maintain, misses a large swath of students who are able to muddle through making their payments for the first couple years but then begin defaulting in the third and fourth years of their repayment periods in accelerated numbers.

The default rate also fails to take into account those students who aren't able to make payments on their college loans but who aren't considered to be technically in default because they've arranged for a student loan debt management plan that permits them to put off making payments on their federal college loans.

In proposed rules that would regulate a school's eligibility for federal student aid, the Department of Education would consider a school's college loan repayment rate and not simply its default rate, as current regulations do.

By expanding its institutional financial aid eligibility rules to include student loan repayment rates, the Education Department would be looking at how many students simply aren't repaying their student loans -- not only counting borrowers who have defaulted, but including those borrowers who are in a legitimate deferred repayment plan or approved forbearance period that allows them to temporarily forgo making their federal student loan payments.

The Student Loan Debt Problem, as Measured by Repayment Rates

Earlier this year, the Department of Education reported that the national cohort default rate was 7 percent for the 2008 fiscal year, the last year for which repayment data are available.

Looking at repayment rates, on the other hand, while also expanding the time span over which student loan repayment is measured, yields a far larger non-payment rate among college loan borrowers and paints a truer picture of the size of the inability-to-repay problem among student loan borrowers.

The Department of Education estimates that in 2009, among alumni of public universities who carried federal student loan debt, only 54 percent of those who had graduated or left school within the last four years were in repayment on their federal student loans -- a far cry from the 93-percent national non-default rate of 2008.

The four-year repayment rate was marginally higher for students at private nonprofit universities, at 56 percent. Perhaps predictably, the repayment rate among alumni of private for profit colleges was substantially lower -- just 36 percent over four years.

These figures come from a new repayment database that the Department of Education will use to track government-issued loans, from the time they're issued until the time they're paid off. The database can also track what happens in between.

By looking more carefully at each loan's entire lifespan, the Education Department hopes the database will help identify the point at which borrowers first begin to show signs of trouble repaying their federal college loans.

Schools' Student Loan Problems Could Mean Loss of All Financial Aid

As the government's proposed financial aid rules are currently worded, the new rules would allow the Department of Education to impose financial aid restrictions on schools whose overall student loan repayment rate falls below 45 percent.

Schools that have a repayment rate of lower than 35 percent would face the loss of federal student aid altogether.

Using the Education Department's 2009 data, more than half of the higher education institutions in the United States would face some type of federal loan sanctions if the proposed financial aid rules were in effect today, and 36 percent of post-secondary institutions would be barred from offering federal student aid for a period of at least two years.

However, the proposed new Department of Education rules will also allow schools to report student loan repayment rates separately by program. By segmenting out repayment rates by program, institutions could avoid school-wide federal financial aid sanctions, leaving intact federal student aid for academic programs whose repayment rates are within the established guidelines, while still receiving sanctions for programs whose graduates consistently fail to make payments on their federal college loans.

Student loans: http://www.nextstudent.com/, student loan default rates by school: http://www2.ed.gov/offices/OSFAP/defaultmanagement/cdr.html

Health Workers to Get Help With Student Loan Debt

http://citizensbankstudentloanconsolidat.blogspot.com

Through the NHSC student loan repayment program, you can receive up to $60,000 toward the balance on your college loans if you successfully complete the program's two-year service requirement. Two-year half-time commitments are also being sought, in exchange for $30,000 in college loan debt reduction.

Clinicians willing to make a five-year commitment to the program can receive up to $170,000 in college loan debt relief. Eligible applicants who are willing to commit to six or more years of service are eligible to have the entire balance of all their federal student loans forgiven.

The college loan debt relief offered by the NHSC repayment program applies to federal, state, local, and private student loans.

Qualifying for the NHSC Student Loan Repayment Program

In order to qualify for repayment through the NHSC program, your loans must have been taken out prior to your enrollment in the program. The program will not repay student loans that were not clearly used to pay for education or loans that were not issued by a government or commercial lender (i.e., personal loans).

College loans that have already been repaid; parent loans, such as those issued under the federal PLUS parent loan program; personal lines of credit; residency relocation loans; and credit card balances are not eligible for repayment under the NHSC student loan debt relief program.

In addition to offering loan forgiveness to qualified applicants, the program also offers incentives for providers willing to work half-time in underserved areas, including more flexible loan repayment terms and credits for teaching.

Service is needed in extremely rural areas where primary medical care is otherwise unavailable and in more densely populated but underserved urban areas. Qualifying primary care positions are also available at state and federal correctional institutions, community mental health facilities, Indian Health Service provider sites, hospital-affiliated primary care practices, public health programs, and community care facilities.

The NHSC is actively seeking medical doctors, psychiatrists, licensed mental health counselors, dentists, physicians' assistants, and nurses. All licensed primary care providers, nurses, and mental health providers are eligible to participate in the college loan repayment program; however, if you opt to make a full-time commitment to the NHSC, you must not already be participating in another federal or state program, or have active or pending military duties that would prevent you from fulfilling your NHSC work commitments.

Applying for the NHSC Student Loan Repayment Program

To get more information or apply for the NHSC student loan debt relief program, visit the NHSC website.

From the NHSC website, you can find out more about the agency, browse a database of program FAQs, and find open job positions in all 50 states that are eligible for the student loan repayment program.

About the National Health Service Corps

Part of the U.S. Department of Health & Human Services, the NHSC currently employs about 7,500 primary care providers at 10,000 sites around the United States. The NHSC expects to employ 11,000 health care professionals by the end of 2011 and 15,000 by the end of 2015.

The loan repayment program is funded by a nearly $300 million appropriation from the Affordable Care Act.

student loans

Five Tips for Landing the Best Student Loan Consolidation Interest Rates

http://comparestudentloanconsolidationra.blogspot.com

The benefits of a college or graduate school education are almost beyond expressing. Having been graduated lends one the self-confidence of a solid grounding in a discipline that can launch a career and open doors to a thoughtful life. That accomplishment can seem tarnished when accompanied by thousands of dollars of debt carried long after the degree has been framed.

As time passes, managing student loan debt can seem insurmountable as life changes, and buying a home, affording transportation, raising a family, come into the game of life along with the requisite cash flow. Having different lenders, with different interest rates and terms of repayment, is at least a financial inconvenience, if not a financial disaster. Student loan consolidation with the best interest rates should be your next goal.

Get a Good Rate and Consolidate

To avoid ending up as a bad credit risk, wrecking the monthly budget, and sacrificing peace of mind, many graduates would benefit by consolidating their student loans. With student loan consolidation, a once monthly, affordable payment, at an interest rate that is comfortable, and a duration that is doable, can become a budget-saving, mind-easing reality.

Calculating for Consolidating

If you have a number of private student loans, you will have to consolidate your student loans with a private consolidation lender. Your interest rate will be calculated based on a combining of the current prime rate, or other standard index, and an additional margin (or spread) determined by your credit rating (FICO).

Five Tips to Qualify for the Best Rate

If you do choose to consolidate your various student loans, you will want to do all within your power to qualify for the best rate. This could save you thousands of dollars over the duration of the loan. Following are five tips to assist you in achieving that goal.

1. Credit Report

Get your credit reports from all three of big three credit bureaus (Experian, Trans Union, Equifax). This can be done for a reasonable fee over the Web. The rate for your student loan consolidation will be determined in part by your credit score.

2. Weighted Rate

Then you need to figure the weighted average of your interest rate calculated over all of your student loans. The resulting calculation will give you a rating you will try to outdo while you shop. Calculators are available on the Web. Calculating your weighted rate is important to get a student consolidation loan at the best possible rate.

3. Research Lenders

Do an online search in an effort to compile ten different lenders that specialize in student loan consolidations. Do not be tempted to restrict your search to less than that. Your chance for getting a good deal increases with the amount of lenders you research. Being lazy or lax can cost you thousands.

4. Research Log

Start a research log. As you hold one lender to the next, keep meticulous notes, maybe in Excel, that includes the lenders name, a name or contact there, useful phone numbers, rates that they publish, the quality of the website, and even record your gut feelings about the business.

5. Five Lenders

You are now ready to make applications with the top five on your list. Make sure the numbers are identical across all the five loan applications to facilitate your shopping. Do this with five, no less, or again, you are cheating yourself.

So, knowing what interest rate you want to target, how well you do your research, how well you home in on the right offer, could all help lower your monthly payments by three figures, maybe more.

Do You Need To Apply For Student Loans

http://citizensbankstudentloanconsolidat.blogspot.com

There are many ways out there that can plausibly help you shoulder your schooling needs. Conversely, students and parents prefer to gain financial capacity with a long term effect. Thus, study loans are being more preferred and taken by students and parents alike.

How does student loans work? Student financial assistance are provided to students in order for them to pay off college fees and other living expenses without the hassle. Compare to other type of loans, student loans gain a modest and fair amount of interest. Federal loans and private student loans are the two main category of student financial assistance.

The main difference between the Federal and Private student loans is the company of agency that is managing the issuance of the loans. The federal loans are being managed by the Federal government particularly the US Department of Education. On the other hand, Private student loans are managed by the different private sectors and business groups.

Many financial experts believe that students who are applying for loans are high risk customers. In order to discourage students from applying, some creditors are intentionally increasing the interest rates of the loans. On the other hand, there are companies that will check your credit history whether they are good, bad or none at all. Borrowers with good credit history must present documents to validate their good credit history. Nevertheless, those who have no past credit can assign a cosigner. A cosigner acts like the partner of the borrower. If a borrower has bad credit history, the company will still have to require a cosigner. If two or more financing companies have refused to accept your loan application, it only means that your credit history is bad enough they are uncertain of your debt repayment capacity. When this happened, it only means two things. First, fix your credit history. Second, find student loans without credit check.

Before signing any legal documents, it is imperative that the borrower will look into the details of the agreement governing the loan. This will certainly avoid any future misunderstanding. Federal student loans will not look into your credit history and they are as follows:

1. The federal Stafford loan - This is designed for any student of any shape and form, regardless of social strata that his/her family belongs. This loan offers a maximum of $20,000 and will gain a fixed interest rate of 4.5 % Per year. The best part is, you will to graduate first before having to pay back all of your debt with a total grace period of 6 months after graduation. You can contact you university's financial aid office if you prefer this loan.

2. The Federal Perkins loan - This type of loan is given to the deserving student with significant need of financial support. Interest rate is 5% while debt repayment will matter on the understanding and preferences of the borrower and the loan provider.

After having to choose which type of loan to apply for, all you have to do is visit the nearest office that will cater to your request. After the loan has been granted, be wise and study hard.

College Loans - An Alternative Idea for Funding College

A quick note... I am not a "Financial Expert" per say and it is not my intent of this article to give you advice or tell you what to do...or what will work...or what will not work.

But I do think this idea warrants a discussion at the very least and I think when we can bring up new ideas or topics to light... it can benefit us all to explore what can work best for each of us.
I am 41 years old. I am telling you this because it is important how I came about this idea or this thought. The idea is a collective one from the various books, TV shows, interviews, and everything that I have encountered thus far.

I was watching a documentary on CNBC about how the students in America are having HUGE debts up to their eyeballs and this problem is becoming an increasing epidemic. This was quite alarming to me as I am sure it is to most. The students and (parents who cosigned for student loans) are falling into poverty due to the outrageous student loans. The graduated students simply cannot keep up with the month bills. And especially right now with not finding employment...how can they start repaying the loan? They can't! The parents who cosigned having nothing left for their retirement and it seems all parties involved suffer...except for the companies who do the lending.

This led me to my idea (at least for my own family) on how I wanted to save up for my own kid's college funds. My wife and I do not have kids just yet but it has been a conversation in recent times. When I started thinking about my age (this is where this comes to be relevant) it really made me worry about being 60 (ish) and getting close to retirement and giving away so much money at that time. But at the same time...if I do have children I too want the best for them. Who wouldn't right? But I really hated the idea of the current way to save up for the college loans. My kid goes into huge debt and a huge portion of my retirement money is out the door. I just don't like this plan (at least for myself).

So when I was out walking... the idea hit me! What if I took the basic principle of Robert Kiyosaki's idea - on investing in "Income Earning Assets" and use this as the basis to funding my kid's future college funds. So for example....I spend the next 20 years acquiring income earning assets that will earn and generate the cash for their college tuition, books, living expenses, etc. BUT..... when my child graduates from school...the assets are still mine! I can have the income redirected back to me! My kid gets an education and I get to keep my assets for my retirement. We both win! The more I thought about this idea the more I loved this idea at least for my own personal situation. Perhaps you have other circumstances that need other ways to fund this cost.

Again, I am not an expert but I feel the pain and suffering just like everyone else and need to come up with other solutions that work best for me. Maybe you have a better way?

For me personally, I want to come up with a plan that lets my children go to college but where I am not out on the street at 65 years old either. I don't like the idea of my kid being broke and owing thousands of dollars and having no way to pay it back. So it was this problem that got me thinking of other solutions that can be a win, win, solution.

I love the idea where I can invest in income earning assets to pay for the cost of their education but afterwards....the assets are still mine and I can also pay for my retirement down the road. That sounds better than what I see out there now.

The same thought with this basic premise...also occurred to me for paying for a future wedding! I love the idea that what if your child waited for 12 months of engagement and then you had your assets fund an account for that time period. Imagine paying for the wedding but still have your assets afterwards? Win, win. I like it!

Let me know your thoughts and comments? I would love to hear them. I am always looking for new ideas and new ways we can make our lives a better one.

As always.... Keep Moving Forward!

Email: GettingBackMyCredit@gmail.com

Advantages Of Federal Student Loans Over Private Student Loans

http://citibankstudentloanconsolidationr.blogspot.com

Life will teach us to face the challenges thrown our way. While our hardships may differ on the situation and gravity, the most important thing is that we learn and emerge to be victorious in all the decisions that we make.

Education will not only teach us the most valued lessons to excel in our chosen field but also to mold us to be the best persons we can be. Sometimes when we are exposed to life situation when we cannot finish our education, we look for alternative ways to pursue our college diploma.

Ways to provide and find sources to pay for university fees may seem endless but options to gain long term and reliable effect may be narrowed down only into one - student loan. By saying so, student loan is the borrowed amount of money to cover your university fees and daily living expenses such as travel expenses, food and shelter.

You can choose from two types of student loans. Private loan is delivered by the private sectors' financing companies owned by business owners through their funding agencies and foundations.

However, private loans have quite a little drawback. It will conduct credit check and will explore into your credit history. If your credit history is good, there's nothing to worry because the company will only have to ask for document to authenticate the legality of your credit history. However, if you have meager or no credit history at all, the financing company will have to request for you to present a cosigner that will be your partner when debt repayment takes place. This is only to assure the financing company that debt repayment will not fail. The worst can happen when two or more financing companies have turned down your student financial loan application. It only means that your credit history is bad enough that it gave them an impression that debt repayment will eventually fail. On the other side of the coin, this will spare your from legal and bigger financial trouble.

Fret no more because another student loan will come to save you. This second type of loan is called federal student loan. Financed and delivered by the government to replenish your financial capacity to cater your university fees. Federal student loan does not require a credit check or probe into credit history.

There are two types of federal student loan that may fit any of your academic needs. Federal Stafford loan and federal Perkins loan. The former will cater to any student of form, shape and financial capacity. A potential borrower is given a maximum amount of $20, 500 of loan yearly. This will also gain a ceiling of 4.5% interest rate per year. Best thing about this loan is that debt repayment will happen only up to 6 months of graduation.

The latter is a type of loan presented to students with special needs and great financial necessities. The interest is fixed at 5% yearly and features a flexible repayment options.

Interest rates, payment options, incentives and origination fees are few of the many things to consider by the potential borrower when aspiring applying for loans.

Student Debt Consolidation Loan - What You Need to Know

http://toploanconsolidationcompanies.blogspot.com

The good thing about fixed rate student loans is that students only need to pay to one lender and the repayment period is longer. This can be achieved by consolidating their existing educational loans. However, debt consolidation also has its share of disadvantages. It is indeed beneficial, but it is not suitable for everyone.

Suppose you have four federal loans and one private loan. Once you have graduated, you are obliged to repay all of the funds you borrow. Indeed, repaying them is not as easy as applying for them. But if you can afford to repay all of your debts with no difficulty, then you do not need to apply for loan consolidation. However, if you are not financially strong, student debt consolidation loan may just be the ideal solution for you.

On the other hand, you should keep in mind that the longer the repayment period, the higher the interest rate. In most cases, the repayment term ranges from 10 to 30 years. During these years, you can cut monthly repayments by 34%. Still, with this method, you will have to pay twice as much in the end.

If you want to consolidate private loans, you should ask the lenders whether or not they provide private consolidation loans. Generally, only federal educational loans such as Perkins, Stafford, HEAL, PLUS, and Direct loans can be merged into one master loan. Yet some lenders make exception to offer private consolidation loans for college students.

By consolidating your loans, you will get fixed rate of interest to pay which is resulted from the weighted average of the interest rates of each of your financial aids. You may end up with a slightly higher or lower consolidation rate of interest since the rate is rounded up to the nearest 1/8 of a percent.

Parents of students can also apply for the student debt consolidation loan. But you need to remember that parents and students cannot merge their loans into one master loan since per 2006, only loans from the same borrower can be consolidated. This regulation also applies to married students; they also cannot combine their loans. To apply for student debt consolidation loan, one will not be charged with any fees. It is totally free of charge. If by chance you come across a program that requires you to pay a certain amount of money when applying the debt consolidation, it might be a scam.

Do Not Let Bad Credit Keep You From College

http://topstudentloanconsolidationcompan.blogspot.com

Bad credit should not keep you from attending a college or a university. Finding a student loan may be easier if a student has a gold-plated credit score, but funding for students with bad credit is possible. For instance, you could apply for the most popular U.S. Department of Education Loan. Called a Stafford Loan, the qualifications assume that most students will be going to college right after having been graduated from high school.

Most Students Just Do Not Have a Credit Rating

That being true, most students would not have had a chance to establish any credit to determine a rating. So, those loans do not even consider credit scores when factoring approvals. A similar rule holds for Perkins Loans. These are federal loans set aside for the neediest college students. In fact, the only reason either of these loans would be denied to a student is if that student defaulted on a federally funded student loan previously.

Parents May Qualify for Education Loans

If you have managed to have a ruinous credit history, a bad credit student loan may be had if your parents have a better credit history than yours. Should this be the situation, a PLUS loan, a loan which is granted to the parents rather than the student, might be a good path to pursue. U.S. Department of Education student loans assume that parents are going to be obliged to cover a certain amount of their student's education.

Federal Funding the Best Choice

Loans dependent on federal funding are the best choices for bad credit student loans. They are engineered to help make higher education accessible to as many young adults as possible. Their requirements are not so stringent than those of banks and other financial institutions or lending companies. But, it a U.S. Department of Education student loan is out of reach, students and their families may have to resort to private lenders. Should you be planning to receive your degree in a discipline that promises high future earnings, such as law or medicine, you may have a decent chance of getting a bad credit student loan from private lenders.

Amalgamation May Be Necessary

Given all the options presented above, you may be able to cobble together enough funds to finance your education from a variety of sources. Even if you do have to rely on some private lenders, you could seek relief in the future. Most student loans, bad credit or federally funded, usually defer payment until studies are complete. This could give the student time to work on improving his or her credit scores. Once studies are ended and the student embarks on a career, he or she may look into student loan consolidation. That would make the student owe only one creditor and probably at much better interest rates with more affordable monthly payments.

One Word of Warning

Be aware that should the student consolidate federally funded personal loans under a new lender, those loans will be wiped off the books. Later on, if the student does volunteer work or pursues a career with a non-profit charitable organization, those loans could have been forgiven if still in their original form. Once consolidated they would not be eligible for forgiveness.

Never Should Bad Credit Prevent Higher Education

No matter how the education is ultimately funded, there is no reason bad credit should ever prevent a young adult from pursuing a higher education, even if it does take a bad credit student loan to do it.

College Admissions Guide for Students and Families

http://students-debtconsolidationloans.blogspot.com

Students and parents alike often find the college admissions process inordinately stressful. This does not need to be the case. The following tips are simple yet essential guidelines for completing the type of college applications that will lead to admission to the college of your choice. All recommendations are based on over a decade of experience in college preparation and application assistance. Each section should be addressed by students in the order presented. Parents may consider hiring a college application professional to assist their children in completing all elements included in this article to improve chances for admission and reduce stress.

• Work with your guidance counselor throughout your high school experience to ensure that you enroll in courses that fulfill your graduation requirements and align with your interests.


• Enroll in Advanced Placement courses in subject areas that you are interested and successful in, as the completion of each course and passing its accompanying test will lead to college credit.


• Take standardized tests in your junior year. The SAT and the ACT are the most commonly accepted examinations.

It is important to keep in mind that colleges and universities typically weigh standardized tests as heavily as your grade point average, that is, your academic achievement throughout your entire high school experience. Therefore you must prepare for these tests and perform to the best of your ability on them. There are resources to help you do well such as classes in school, classes offered by private companies, individual tutors, and written and computer bases study guides. You should also consider taking SAT Subject Tests for classes that you enjoy and are successful in. Once testing is completed, it is time to start thinking about what type of college or university you are interested in attending.

• Begin to research colleges and universities no later than the summer preceding your senior year. Take into account factors that are important to you such as academics, location, size, qualifications, diversity, athletics, and cost.


• Choose approximately 6-10 colleges to apply to. Choose colleges and universities that have GPA and standardized test score requirements that match your ability closely, those that are more challenging, as well as those that you meet all requirements for.


• If you are interested in a specific major, ensure that it is offered by all colleges you are applying to. Visit as many prospective colleges and universities that you can.

After you complete your college application list, you need to get organized. Use a system that works for you; it should be formatted well and easy to check daily. A simple computer-based database is a good choice. You need a record of submission deadlines for all material required by each college on your list and a timeline to complete each element. Transferring important dates to your paper or electronic planner makes tracking your progress easier and lessens the chance of missing important deadlines. We all have different organizational styles; ensuring that your college information is in an easy-to-use format is essential. Common elements of applications include transcripts, standardized test scores, personal statements, and recommendations.

• Arrange to have your transcript and test scores sent to each college or university you apply to if required. In some states, public colleges and universities use the honor system and will allow you to type your grades and scores into their online applications.


• Request recommendations from teachers/counselors/employees at least one month in advance if required by any schools you are applying to. Several colleges require their own paper forms be filled out, signed, and sent. Provide these forms upon making the request. Request them from people who you are confident will recommend you most favorably.


• For colleges that require a personal statement, submit exactly that. Your statement should have enough personal information to give an admissions committee a perspective of who you really are and who you want to be in the future. Have it proofread by at least two individuals. College counselors and English teachers are good choices.


• Send or submit applications only after you are sure that you do not have any errors in spelling, punctuation, or grammar. They must be 100% complete, including all required elements. Some schools send requests for additional information when needed; others will automatically dismiss incomplete applications.

It is time to think about how to pay for your education. The good news is that there are many federal, state, and private sources of financial aid. You may be eligible for grants that are based on financial need and do not need to be repaid. You may also be eligible work-study, which is a specified amount of money per semester that you can earn by working on campus. Loans are monies that will need to be repaid in the future. There are also scholarships available to students that may require research, applications, and/or essays. They do not need to be repaid.

• Fill out a Free Application for Federal Student Aid (FAFSA) regardless of your financial situation and in as timely a manner as possible. You can file your FAFSA starting on January 1st each year. Awards are first come, first served. Although the federal deadline is at the end of June, you must check your state for individual deadlines. For example, in California the FAFSA for applicants planning to enter college in the fall of 2012 must be received by March 2, 2012. This date is subject to change yearly by each state.


• Some colleges and universities also require that you submit a form called the CSS Profile and/or other college specific financial aid forms.


• Research, locate, and complete applications for college scholarships you are eligible for.

Once you receive your acceptance [and/or rejection] letters, you are ready to choose the college or university that you will attend. Ensure that you utilize all assistance available to you. It is important to speak with your parents and/or other significant people in your life in addition to reaching out to your guidance counselor. As aforementioned, many families choose to employ a college application professional to guide them through the entire process. A student with assistance from the right person will likely be admitted to more colleges and experience less stress. Whether you have professional assistance or not, I hope that the above guidelines result in admission to the college or university that is the best for you. Good luck!