Alaska Student Loans Application Information

If you are applying for an Alaska student loan you are required to file a Federal Application for Student Financial Aid also known as the FAFSA. You ought to contact an adviser in the financial aid department of the university or college of your choice. These steps are pretty much like the student loan application anywhere in the country.

A financial aid adviser can also aid you with locating any scholarships or grants for which you may be eligible. The variance between Alaska student loans and scholarships or grants, is that loans must be repaid - whereas grants and scholarships do not. Bear in mind, however, that to keep a grant or scholarship, you will customarily be obliged to keep up a particular number of credit hours and/or a specific grade point average, or GPA.

This Is What You Will Need

To commence the process of applying for an Alaska student loan it is a must that all the essential documentation be there. You will have to have your social security number, bank statements, your tax records for yourself and your parents depending on your age and school information.

You will in addition need to demonstrate proof of what extra financial support you may be receiving . For instance . Whether or not you have a job, or are under twenty one and living under your parent's roof, can affect how much of a loan you will be able to obtain. Be sure to have all of your income information (and your parent's, if still at home) on hand before you fill out your application.

It is also essential to check your credit record, to make certain that there are no harmful reports from companies to whom you may have made delinquent payments, or just not paid at all. These bad reports can influence whether or not you are approved for certain student loans. Unsubsidized loans, for example, require that a student have a fairly clean credit record before approval.

If you are not yet twenty one, or if your main home is still your parents home, you may be able to qualify for Alaska student loans using your parents satisfactory credit standing. Parents are also able to apply for Alaska student loans, called PLUS loans, that can help to pay for their children's education.

Pell grants and other scholarships are also a an option. The best case scenario is that you qualify for enough scholarships that a loan is not need at all.

by David Lathan

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How To Refinance Your Private Student Loans

So many of us turn to private student loans to finance our graduate and undergraduate education. It's how many of us survived through those humbling college years. But when school is over, we are faced with the enormous tab that we racked up over the years. This can be overwhelming for a new graduate just starting out on his/her own. The refinancing and consolidation of your private student loans may alleviate some of the stress.

Making The Decision to Refinance Your Private Student Loans

In deciding whether or not you should refinance your student loans, it's important to weigh the benefits. One advantage of refinancing your private student loans is that if you have many loans, you can consolidate them all into one monthly payment. That way, you don't have to worry about keeping track of multiple due dates. Another advantage of making the decision to refinance your private student loans is that you can save money by securing a lower interest rate. When you initially took out your education loans, your interest rate may have been higher because of the market at that time or because of your credit rating (or lack thereof). Well, now things have most likely changed for the better. Taking advantage of lower interest rates now can save you thousands of dollars over the life of the loan.

Student Loan Eligibility for Refinance

No lender is going to give you the time of day if your student loans are in default status. Your loan MUST be current, with no outstanding payments due. Loans that are in deferment, forbearance, or in a grace period are all considered to be in an acceptable status. If you are paying on your loans and are not behind, you definitely have the thumbs up to apply for refinancing. It's also important to note that federal and private student loans cannot be refinanced or consolidated together. If you have both types of loans, you'll need to refinance them separately.

Getting Started

To get started, you need to first assess whether or not your loan is in an approved status. Check your credit report and call your current lenders to verify this. Once you've determined that you are eligible to refinance your private student loans, begin doing research online to find private student loan consolidation programs and lenders. Check with the major financial institutions, such as Chase, Wells Fargo, and Citibank. You may also stumble upon smaller lenders that are equally able to provide the same sort of quality service. Be sure to only settle with a lender that has a good reputation, which is verifiable through the Better Business Bureau.

by Anthony Foster

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