College Loans for Students - What to Watch Out for
College Loans for Students - What to Watch Out forAuthor: NigelPicking a college student loan can be rather a stressful time. There are a lot of different options, so many different terms and often some very attractive offers. However it is important to remember that a lot of the student loans that sound too good to be true, usually are just that. Each year thousands of students enter into student loans which looked to be a great deal, but as they did not read the small print and they did not fully understand the terms and conditions of the student loan agreement, they have ended up being liable for thousands of dollars in interest and extra fees over the life of the loan. The main points to look for in college loans for students, especially with private schools or education loans include: 1. College loans for students that promise you money for non-educational items or that state they have a loan that uses a loophole to get around the policies. This is both against the Higher Eductaion Act policies and is illegal and usually these types of scams are exposed, often too late for unsuspecting students.
2. Vague information on the interest rate of the loan and how the interest rate will be calculated over the life of the loan. If at all possible look at loans that allow you to fix the interest rate if the rate is competitive at the time of the loan.
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RAPIR comment`s:
As usual, the author published a racially correct.
11.01.2010
MEЛAMOPИ comment`s:
E-mine, left work
03.07.2010
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