where to get student loans

i’m guessing you’ve heard of the acclaimedtv show “game of thrones.” seven kingdoms vying for power, plots within plots, watchyour back or lose your head. it’s great. but you’ve probably never heard of a reallife drama that i call the “game of loans.” that’s a game washington politicians playon young people, that is, college students, every day. just like “game of thrones,” the “game of loans” has plots within plots, big winners and big losers. the winners are politicians and colleges.they fool students into thinking that by generously providing ever-larger college loans to coverever-larger tuition costs, they have earned students’ votes at election time. why doi say students are fooled? because it is thanks to the very politicians who promise studentsmore and more aid -- in league with the colleges

-- that college tuition became so expensivein the first place. here’s how the game works. according to bloomberg news, since 1978 thecost of a college education has gone up by over 1000% percent. way past the rate of inflation.tuition alone at many colleges is 20, 40, even 50 thousand dollars a year! so, how doyou pay for it? answer: student loans, loans that the government is happy to give you sincethey collect the interest. you don’t have to be a finance major to figure out that allthese student loans give colleges no incentive to cut costs. instead, it gives them everyincentive to raise costs. higher tuition obviously means more money for the college.

now if students were going to college in recordnumbers to study engineering or computer science or biology -- professions with high employmentrates -- maybe these crazy sums would make some sense. maybe. but the most common majorsare in the social sciences and communications -- in subjects like sociology, cinema historyand gender studies. not surprisingly these majors have very high unemployment rates,as in, they don’t prepare you for a job. and these majors are mainstream! you can geta degree in storytelling, bag piping and puppet arts for your fifty thousand a year. but here‘s the point: colleges are no longerprimarily about preparing you for a career. today's higher education is about teachingyou what a terrible country america is,

social activism… and binge drinking. hey, if collegedidn't cost so much the parties might be worth it, but it does. the average student loan debt in america is$28,400 per borrower. note that this is per borrower, not graduate! big difference. alarge chunk of the 1.3 trillion dollar student loan liability is held by ex-students whonever graduated. for every 100 students who enter a four- year college only 59 exit witha degree. but maybe you’re one of the lucky ones.you got a business degree and you found a decent job. chances are you’re paying offyour student loans and will be for the next 10, 20 or even 30 years! good luck savingmoney for a down payment on a house

or just about anything else.mike rowe from the tv show “dirty jobs” nicely summarized the issue this way: "weare lending money we don't have to kids who can't pay it back to train them for jobs thatno longer exist." so, am i saying that college is always a wasteof time and money? of course not. but i am saying this: 1) remember that if you take out a studentloan, it’s not free money. you actually have to pay it back. i know this sounds ridiculouslybasic but it’s also ridiculously important. and since you owe this money to the federalgovernment, you can’t get out of it, even if you declare bankruptcy.

2) whenever you hear politicians say theywant to make college “more affordable,” what they’re really saying is that theywant to get the youth vote while making it easier for you to dig yourself into a deephole. these politicians don’t have your best interestat heart. they have their own best interest at heart -- namely, getting elected. you don’towe them anything. “the game of loans” is rigged -- and notin your favor. but if you’re smart about your choices, you can beat the odds. i’m charlie kirk of turning point usa forprager university.

where to get school loans

bryana: people have dreams to become an actressor things like that… going to college has been my dream… bryana: my parents got divorced at the ageof two … my mom has been my rock since everything… her house is her sanctuary pretty much…my mom has it very nice ‘n’ tidy… it’s considered a trailer; they’re not the onesthat you could roll on wheels. it’s planted on the ground. i’ve been tutoring sinceactually, elementary school. geometry, algebra, algebra one, algebra two. you know, you nameit, the subject… i tutor it, so… [laughter...] lisa solovay: bryana has such a heart forservice. i don’t know if, if it’s because of her predicament that she feels like sheneeds help so she feels like she can help

others… bryana: the do something club is a nationalorganization; you focus on what your community problems are and you try to put a fix to them.i absolutely love it; it always puts a smile on my face when we have meetings and i seethat these students are changing… bryana: we’re doing good. i haven’t seenyou forever… back to interview: bryana: they're realizingthat they can actually be a change in something big. gina carlton: nothing’s ever been handedto bryana; i think she’s always had to work hard for everything. she hasn’t had a [sic]easy financial situation at home. she’s

dealt with her mom losing her job. i’m likeamazed at as much as she’s gone through and still stay so composed and still takescare of everything she has to take care of. female1: unless she tells you what her situationis, you would never know… bryana: i can remember kindergarten – wewere all goin’ around, you know, ”state your name, say what neighborhood you livein so you could make friends…” i said, “hi, i’m bryana and i live in tolly [phonetic...]lakes…” and everybody was like, “what’s tolly lakes?“ i was like, “oh, it’sa neighborhood right across…” and they’re like, “oh, is that a house!” i’m like,”no. i live in a… in a little trailer!” i have been called trailer trash, homeless,low life… pretty much any stereotype for

a hispanic who has divorced parents and livesin a trailer… i’ve heard about [inaudible phrase...] yeah, it hurts -- butuhm, it’s made me really strong. as i’m older, it doesn’t affect me as much. it’snot like a pushback; it’s more of a pushforward now, like, alright, what can i do to earnsomething and make things happen again?” rich gonzalez: bryana’s future looks verybright; she wants to evolve; she wants to go into the medical field. when you have somebodylike that, in (?) that type of caliber, you know you have someone special…02:35 bryana: i volunteer at a couple of hospitals;in high school, i’ve been enrolled in health science one, health science two and emr, whichis emergency medical responder. i’ve been

learning first aid certification, cpr certification,ivs, injections – things like that – so that class is really how i’ve been preparingmyself for the nursing field. my junior year in my english class, a student next to mehad a seizure… [pause...]… you know, i was the only one who actually acted to dosomething and at least i did something ‘cause i know if we all just stood there frozen,she might not be here today… right in that moment like i in myself i already knew whati wanted to be. the biggest obstacle is financially, you know, i would love to be able to go toone of the top medical schools but because of my financial restraint, i have to findcolleges that are in my range but somehow, someway, i’ll make it work to actually goto a university.

03:31ana: college is important because it’s the only way that you could go forward in lifeand have everything that you want and be who you want to be. bryana: i’m trying’ to tutor as much asi can my senior year…[pause...]… scholarships are my biggest, you know, focus, even thoughthere’s no guarantee with them… female1: it’s sometimes hard when you'rea counselor with six hundred plus seniors. you wanna find the best person and sometimesyou can’t; i was lucky that i had that relationship with her; i knew that she was a great studentand i knew that she did have this financial concern, which is what the scholarship wasasking me: “do you now a student that needs

help?” i nominated bryana for the scholarship.and we had gotten a standard email saying, “thank you…” so i kinda thought thatwas the end of the road. when sallie mae called me and told me that she was one of the fourfinalists in the nation, i was completely taken aback. i was crying myself and theni called bryana and i had her come to my office. bryana: i got called down to the guidanceoffice and everybody was bawling and i thought someone died! i was like, ”why is everybodycrying and hugging me? this is not normal!” she just says, like, “you remember that,you know, sallie mae, uhm, scholarship thing? i got an email and they asked me just to senda hundred word essay…” that’s when it hit me: “oh my gosh…” i started crying,too… [laughter...]…and she’s like, “you

are one of the four finalists…” she mademe believe that i can actually go to college and earn an education that, you know, i’vebeen dreaming about… female1: it’s gonna mean a lot more to herto have this scholarship than it would to your average kid and i think it would makea world of difference for her… bryana: in ten years, i hope to see myselfworking as a nurse, putting on my scrubs and being able to support those around me in mylife. it’s crazy! just a hundred words can literally change my life.

where to get a student loan

i’m guessing you’ve heard of the acclaimedtv show “game of thrones.” seven kingdoms vying for power, plots within plots, watchyour back or lose your head. it’s great. but you’ve probably never heard of a reallife drama that i call the “game of loans.” that’s a game washington politicians playon young people, that is, college students, every day. just like “game of thrones,” the “game of loans” has plots within plots, big winners and big losers. the winners are politicians and colleges.they fool students into thinking that by generously providing ever-larger college loans to coverever-larger tuition costs, they have earned students’ votes at election time. why doi say students are fooled? because it is thanks to the very politicians who promise studentsmore and more aid -- in league with the colleges

-- that college tuition became so expensivein the first place. here’s how the game works. according to bloomberg news, since 1978 thecost of a college education has gone up by over 1000% percent. way past the rate of inflation.tuition alone at many colleges is 20, 40, even 50 thousand dollars a year! so, how doyou pay for it? answer: student loans, loans that the government is happy to give you sincethey collect the interest. you don’t have to be a finance major to figure out that allthese student loans give colleges no incentive to cut costs. instead, it gives them everyincentive to raise costs. higher tuition obviously means more money for the college.

now if students were going to college in recordnumbers to study engineering or computer science or biology -- professions with high employmentrates -- maybe these crazy sums would make some sense. maybe. but the most common majorsare in the social sciences and communications -- in subjects like sociology, cinema historyand gender studies. not surprisingly these majors have very high unemployment rates,as in, they don’t prepare you for a job. and these majors are mainstream! you can geta degree in storytelling, bag piping and puppet arts for your fifty thousand a year. but here‘s the point: colleges are no longerprimarily about preparing you for a career. today's higher education is about teachingyou what a terrible country america is,

social activism… and binge drinking. hey, if collegedidn't cost so much the parties might be worth it, but it does. the average student loan debt in america is$28,400 per borrower. note that this is per borrower, not graduate! big difference. alarge chunk of the 1.3 trillion dollar student loan liability is held by ex-students whonever graduated. for every 100 students who enter a four- year college only 59 exit witha degree. but maybe you’re one of the lucky ones.you got a business degree and you found a decent job. chances are you’re paying offyour student loans and will be for the next 10, 20 or even 30 years! good luck savingmoney for a down payment on a house

or just about anything else.mike rowe from the tv show “dirty jobs” nicely summarized the issue this way: "weare lending money we don't have to kids who can't pay it back to train them for jobs thatno longer exist." so, am i saying that college is always a wasteof time and money? of course not. but i am saying this: 1) remember that if you take out a studentloan, it’s not free money. you actually have to pay it back. i know this sounds ridiculouslybasic but it’s also ridiculously important. and since you owe this money to the federalgovernment, you can’t get out of it, even if you declare bankruptcy.

2) whenever you hear politicians say theywant to make college “more affordable,” what they’re really saying is that theywant to get the youth vote while making it easier for you to dig yourself into a deephole. these politicians don’t have your best interestat heart. they have their own best interest at heart -- namely, getting elected. you don’towe them anything. “the game of loans” is rigged -- and notin your favor. but if you’re smart about your choices, you can beat the odds. i’m charlie kirk of turning point usa forprager university.

where to find student loans

bryana: people have dreams to become an actressor things like that… going to college has been my dream… bryana: my parents got divorced at the ageof two … my mom has been my rock since everything… her house is her sanctuary pretty much…my mom has it very nice ‘n’ tidy… it’s considered a trailer; they’re not the onesthat you could roll on wheels. it’s planted on the ground. i’ve been tutoring sinceactually, elementary school. geometry, algebra, algebra one, algebra two. you know, you nameit, the subject… i tutor it, so… [laughter...] lisa solovay: bryana has such a heart forservice. i don’t know if, if it’s because of her predicament that she feels like sheneeds help so she feels like she can help

others… bryana: the do something club is a nationalorganization; you focus on what your community problems are and you try to put a fix to them.i absolutely love it; it always puts a smile on my face when we have meetings and i seethat these students are changing… bryana: we’re doing good. i haven’t seenyou forever… back to interview: bryana: they're realizingthat they can actually be a change in something big. gina carlton: nothing’s ever been handedto bryana; i think she’s always had to work hard for everything. she hasn’t had a [sic]easy financial situation at home. she’s

dealt with her mom losing her job. i’m likeamazed at as much as she’s gone through and still stay so composed and still takescare of everything she has to take care of. female1: unless she tells you what her situationis, you would never know… bryana: i can remember kindergarten – wewere all goin’ around, you know, ”state your name, say what neighborhood you livein so you could make friends…” i said, “hi, i’m bryana and i live in tolly [phonetic...]lakes…” and everybody was like, “what’s tolly lakes?“ i was like, “oh, it’sa neighborhood right across…” and they’re like, “oh, is that a house!” i’m like,”no. i live in a… in a little trailer!” i have been called trailer trash, homeless,low life… pretty much any stereotype for

a hispanic who has divorced parents and livesin a trailer… i’ve heard about [inaudible phrase...] yeah, it hurts -- butuhm, it’s made me really strong. as i’m older, it doesn’t affect me as much. it’snot like a pushback; it’s more of a pushforward now, like, alright, what can i do to earnsomething and make things happen again?” rich gonzalez: bryana’s future looks verybright; she wants to evolve; she wants to go into the medical field. when you have somebodylike that, in (?) that type of caliber, you know you have someone special…02:35 bryana: i volunteer at a couple of hospitals;in high school, i’ve been enrolled in health science one, health science two and emr, whichis emergency medical responder. i’ve been

learning first aid certification, cpr certification,ivs, injections – things like that – so that class is really how i’ve been preparingmyself for the nursing field. my junior year in my english class, a student next to mehad a seizure… [pause...]… you know, i was the only one who actually acted to dosomething and at least i did something ‘cause i know if we all just stood there frozen,she might not be here today… right in that moment like i in myself i already knew whati wanted to be. the biggest obstacle is financially, you know, i would love to be able to go toone of the top medical schools but because of my financial restraint, i have to findcolleges that are in my range but somehow, someway, i’ll make it work to actually goto a university.

03:31ana: college is important because it’s the only way that you could go forward in lifeand have everything that you want and be who you want to be. bryana: i’m trying’ to tutor as much asi can my senior year…[pause...]… scholarships are my biggest, you know, focus, even thoughthere’s no guarantee with them… female1: it’s sometimes hard when you'rea counselor with six hundred plus seniors. you wanna find the best person and sometimesyou can’t; i was lucky that i had that relationship with her; i knew that she was a great studentand i knew that she did have this financial concern, which is what the scholarship wasasking me: “do you now a student that needs

help?” i nominated bryana for the scholarship.and we had gotten a standard email saying, “thank you…” so i kinda thought thatwas the end of the road. when sallie mae called me and told me that she was one of the fourfinalists in the nation, i was completely taken aback. i was crying myself and theni called bryana and i had her come to my office. bryana: i got called down to the guidanceoffice and everybody was bawling and i thought someone died! i was like, ”why is everybodycrying and hugging me? this is not normal!” she just says, like, “you remember that,you know, sallie mae, uhm, scholarship thing? i got an email and they asked me just to senda hundred word essay…” that’s when it hit me: “oh my gosh…” i started crying,too… [laughter...]…and she’s like, “you

are one of the four finalists…” she mademe believe that i can actually go to college and earn an education that, you know, i’vebeen dreaming about… female1: it’s gonna mean a lot more to herto have this scholarship than it would to your average kid and i think it would makea world of difference for her… bryana: in ten years, i hope to see myselfworking as a nurse, putting on my scrubs and being able to support those around me in mylife. it’s crazy! just a hundred words can literally change my life.

where to apply for student loans

hello, i'm cheri ashwood. i'm a guidance counselor,and today i'd like to talk with you about how to get a student loan to pay for off-campushousing. you're either a first time in college freshman, and you've decided that you don'twant to stay in the dorm, or you're attending college a little later in life, and you'redefinitely not going to stay in the dorm with a bunch of teenagers. you can obtain a studentloan, and student loans are primarily awarded to the school, and you will get what's calleda net check. student loans and any other financial aid disbursements are given to tuition andfees first. net check happens; it may be a couple of weeks into the school year. thismay cause some hardship if you're living in an apartment or housing of some sort thatmay not be as understanding about that. if

you were to obtain a private loan; a studentloan just the same is going to be applied towards tuition, but if you were to obtaina private loan from a lending institution that's willing to put the money directly intoyour hand or your bank account then you would have the money available for off-campus housing.your best bet may be to have a part time job, or money saved in order to pay for your off-campushousing, or you may just decide to live on campus because it may be more financiallysound. i'm cheri ashwood. i'm a guidance counselor. i'm very proud of you for deciding to continueyour education, and your future starts today.

where to apply for a student loan

hello, i'm cheri ashwood. i'm a guidance counselor,and today i'm going to tell you how to get a student loan with no credit history or co-signer.federal student loans, fortunately, are usually not based on your credit history, so you'llbe able to get a federal student loan if you are a first time in college freshman. if you'relooking to private loans from lending institutions or other organizations that will be lookingat your credit history, you may be required to do things such as, begin repayment immediately.the may disperse the money to you to pay for tuition, but you may be immediately responsiblefor making those payments. or you may just have to face a higher interest rate, whichis usually the standard for any loan for any reason, if you have a not so favorable credithistory, which includes not having a credit

history. unfortunately, not having a credithistory is the same as having bad credit. you can also save your money to pay for college,or also look into grants and scholarships that don't require repayment based on differentfactors, such as your academics, or organizations and affiliations may qualify you for differentgrants and scholarships. but, if student loans have become unavoidable for you, you stillhave several options if you don't have a co-signer or you don't have a credit history. i'm cheriashwood. i'm a guidance counselor, and your future starts today.

where can you get student loans

college or career school is an important step in achieving your future goals, and there are many financial aid options to consider. did you know that a federal student loan can be a great way to help pay for school? after all, a grant, work-study job, or a scholarship can be a huge help, but these forms of aid may not cover the full cost of attending school. so if you decide to take out a federal student loan, it’s important to understand what you are getting and be a responsible borrower. getting a loan is a big decision. you might be paying your loans back

for 10 years or more, so take your time to decide. and remember to accept only the loans that you need, because you’ll have to repay them once you’re out of school. here are a few things to keep in mind when deciding how much to borrow. do some research: make sure that your school is the right fit for you both educationally and financially. location, location, location: the amount of money you need to borrow can depend a lot on where your school is located.

in-state schools and community colleges may cost less than out-of-state schools. and finally, getting an idea of your future income is also important when deciding how much to borrow. starting salaries vary greatly depending on your career path, so it’s worth thinking about how the amount of your loan will affect your future finances. after all, your student loan payments should be only a small percentage of your salary after you graduate. once you’ve decided on your school and figured out how much money you should borrow,

you’ll need to sign a promissory note, which is an agreement to repay your loan. make sure you keep a copy for your records. if you do take out loans, you’ll need to keep in touch with your loan servicer when repayment begins. your loan servicer will make this easy for you you by offering web, e mail, and phone contact options. if you make this investment in your future, being an informed, responsible borrower can pay off in a big way. if you have questions or need more information,

please visit studentaid.gov.

where can you get a student loan

fuck. ugh, my fucking student loans. (off screen) don't pay your student loans. wha.. what? don't pay your student loans. do something fun with the money instead. i have to pay my student loans. why? what's really going to happen if you don't?

it'll hurt my credit score, for one. who gives a fuck about credit scores? no one cool has ever cared about their fico number. can you imagine sid vicious or maya angelou trying to get their credit above 720? well, (mockingly) "well" go to the bellagio! buy some molly! what?!

student loans are extortion people have to go to college and the only way for a lot of them to do it is by borrowing money. the student loan industry has a market of people with a gun to their head screw their business! what about my credit score?! who gives a fuck about credit scores?! there's so much bad debt in this country that

in 10 years, if people are only selling to buyers with perfect credit they're going to be selling to ghosts and memories take that money and pay someone to blow you. n-n-no! what about personal responsibility? what would my grandpa think? don't pay your student loans! grandpa? you want to talk about personal responsibility, boy-o? in 1976, the student loan industry

lobbied congress to make their debt non-dischargeable in bankruptcy. took away the one weapon in a consumer's arsenal. have another president ford. goddamn episcopalians! doesn't the bank need the money? *muffled groans and grumbles* i'm not even going to dignify that with a response. -the fucking bank, are you kidding me?-motherfucker

i'll handle this. who are you? i'm j.p. morgan. the bank is just fine. in fact since the repeal of glass-steagall interest doesn't make up half our revenue. what's that mean? interest -- that's how we make money off loans.

that's basic stuff -- why don't you know that? oh, i studied acting. you took out loans to study acting? i was following my dream. [all] this is a terrible century. guys, think of the sense of accomplishment i'll get once i finally pay them off! student loans! don't pay your student loans! i'm your unborn son!

see, even though you and your future wife decide you want kids, you realize you aren't financially stable enough to have them. so i hope that feeling of accomplishment is as good as teaching me how to share and make pancakes. oh, who do i marry? the hooker he talks you into seeing later!-dude, punk rock. she has a heart of gold!

guys, what if the bank seizes my assets? now who are you-- wait a minute, what? i'm a used mattress you bought from craigslist. ugh he's stained and he smells like someone else's cigarettes! i'm literally the nicest thing you own. am i the "asset" you're so worried about? let's go buy some pussy! finance! *group begins talking all at once*

enough! look, what we're really saying is if you pay your student loans [angel and devil at same time] you're a coward. -oh hey!-oh yeah, that's great. you and me. fine, alright, you guys are right. paying back student loans is for cowards and suckers and i'm neither one! i'm not gonna do it!

i'm gonna tell them right-- fuck! now how are you going to buy pussy?!

where can i get student loans

if you have a federal student loan, there are several options available to help you manage your debt. and if you’re having trouble making your loan payments, contact your loan servicer immediately. your loan servicer will walk you through your options. for example, you might consider changing your repayment plan. there are several repayment options available to you. most borrowers start off with the standard repayment plan, which offers a fixed payment over a 10-year period.

however, you can lower your initial monthly payments using a graduated repayment plan that starts with lower monthly payments that gradually increase over time. or if you qualify, you may be able to lower your monthly payments by extending them over a longer period of time. finally, you may be able to choose a repayment plan that ties your monthly payments to your income. if you meet certain requirements, you may be able to defer or temporarily postpone your payments for a variety of reasons,

including a return to school, unemployment, or military service. if you’re having trouble making your loan payments, but do not qualify for a deferment, your loan servicer may grant forbearance, which allows you to postpone or reduce your monthly payment for a limited period of time due to financial difficulty or certain other reasons. contact your loan servicer to see if you qualify for deferment or forbearance. if you have multiple federal loans, consolidating them into one loan may also help you better manage your debt. in addition to having to make only one federal student loan payment each month,

your monthly payment amount may be lower since the length of your repayment schedule may be extended. consolidating your loans is easy and can be done any time after you leave school. switching repayment plans, exploring deferment and forbearance options, or consolidating your loans may help you better manage your student loan payments and avoid default. remember, if you’re having difficulty making payments, contact your loan servicer immediately to discuss the pros and cons of these options.

if you have questions or need more information, please visit studentaid.gov.

where can i get a student loan

bjbj"9"9 judy woodruff: now: the first oftwo reports on the ever-growing student loan debt problem. newshour economics correspondentpaul solman tallies up the larger toll it's taking and what it means for new graduates.it's part of his ongoing reporting making sense of financial news. paul solman: america'sage-old academic rite of spring: commencement. degree in hand, graduates are about to beginreal life and the world of work. what's different these days is the cost of that degree, andthe extent to which it's been financed with debt. americans owe $700 billion in car loans,more than $800 billion on our credit cards. but student debt now tops $1 trillion, andit's not just weighing down the 37 million former students who owe it, but the wholeeconomy. here's economist paul krugman in

a recent public interview. paul krugman, columnist,the new york times: the preponderance of the evidence is that the biggest single factorkeeping us where we are, keeping us in this depression is the overhang of debt. paul solman:and student debt, we asked him a few days later. paul krugman: household debt is thebig ball and chain on this economy, and student debt is a big part of it. paul solman: buthow, you might wonder, could people like ricky evans, age 32, who works in finance in thed.c. area and earns upwards of $70,000 a year, still have student loans of more than $80,000?man: honestly, back then, i barely understood interest rates. paul solman: what about 27-year-oldteacher beth hansen? in addition to working full-time at a maryland middle school, shenow works two other part-time jobs, running

an after-school book club, singing in a churchchoir, and yet earned only $46,000 total last year, while still owing more than $60,000.man: looking for employment? beth hansen, middle school teacher: yes. paul solman: she'snow looking for a waitressing job to make ends meet, working tables after teaching seventhand eighth graders all day. did she understand the load she was taking on? beth hansen: think,how old was i when i signed my first promissory note? seventeen. am i really going to readsaid promissory note from beginning to end? paul solman: or understand it. beth hansen:or understand it even if i had read it. mark kantrowitz, finaid.org: most students willsign whatever piece of paper is put in front of them, and they won't pay attention to it.paul solman: mark kantrowitz is a financial

aid expert. mark kantrowitz: there's no oneout there telling them, don't borrow too much. paul solman: daniel habtemariam, 28, a medicalstatistician who had attended the krugman event, says student debt is depressing prettymuch everyone he knows. daniel habtemariam, medical statistician: i know for myself andas well as for many of my peers, we have put off major life decisions, put off having children,putting off buying a house. my peers don't have enough revenue, they don't have enoughincome, they don't have enough security and enough sort of confidence in their futureincome. paul solman: and the overhang of debt is restraining them? daniel habtemariam: it'sa terrible burden, yes. paul solman: beth hansen is typical. beth hansen: i live ina one-bedroom apartment, and it's the cheapest

one i can find, and it's still 35 percentof my monthly income. that also makes it so much more difficult to pay off my studentloans. and thinking about my life with my future with my fiance, are we going to beable to buy a house? no, because i have no money in the bank. there's no money for adown payment. there's no collateral. paul solman: the standard loan contract allowsanyone who cannot pay, like hansen, to put off payment for years. but the amount owedrises in the meantime, as the deferred interest is added to the total bill. meanwhile, sincethe crash, many public employees have seen their earnings decrease. beth hansen: i haveactually been making less each year because they furloughed us one year. and then, thisyear, they increased the amount that i had

to pay into my retirement. so i have gottena 2 percent pay decrease. and i don't know what they're going to do next year, but there'scertainly been no cost of living increase in four years. paul solman: four years aftergraduating, hansen has just started making loan payments, $468 a month. to cover it,she's interviewing for that waitressing job. will she ever pay off her loans? beth hansen:i may die first, in which case, they would need a copy of my death certificate to finallycancel my loan. judith scott-clayton, economist: college is a very good investment. paul solman:economist judith scott-clayton studies higher ed. judith scott-clayton: your level of educationis the biggest single predictor of your lifetime earnings that you can control, that you cando something about. and so it makes a lot

of sense to borrow, to finance this investment,which is going to pay off over the whole, you know, 30 or 40 years that you're working.paul solman: but tell that to recently minted b.a.s in the job market of the past few years,whose reality has clashed with the pretty picture painted during orientation week. bethhansen: they tell you, oh, you have made such a good decision by joining our family. thisis going to pay off so well in your future, and our graduates have received this and thisaward and that award, and they're prestigiously employed at, you know, x and such. and so,you think that that's clearly what's going to happen for you as well. paul solman: sostudents borrowed money from the government or private lenders, each with different terms,interest rates and payback options. the students

tended to ignore the total tab, or even what'scalled the opportunity cost, the income they might have earned if they hadn't gone to school.now the next generation sees what happened, and may become wary. but a frightened overreactionis also a risk, says economist judith scott-clayton. judith scott-clayton: the risk is that ifthey decide not to go because they're afraid of taking out debt, they may actually endup in a worse situation than had they decided to go. paul solman: now, one reason studentdebt has surged past a $1 trillion, 80 percent of it owed to uncle sam, is because collegehas become increasingly expensive. but the cato institute's neal mccluskey argues that'sbecause of student debt financed by government loans. neal mccluskey, cato institute: themassive inflation we see in tuition, in college

prices, have gone up faster than health care,faster than almost any other major industry. well, that's a product in large part of federalstudent aid. and, again, that's the -- if you give someone $100, you tell them theyhave to use it for college, and colleges know they have it, of course they're going to raisetheir prices. paul solman: the government begs to differ. martha kanter, u.s. undersecretaryof education: federal subsidies are not the reason that college costs have escalated.paul solman: if government aid drives tuition, says undersecretary of education martha kanter,how come prices are rising fastest at state schools? martha kanter: just last year, ifyou look at states, over 80 percent of states have dramatically cut american higher education.institutions of higher education raise tuition

when that happens. paul solman: but no matterwho's responsible, soaring tuitions mean soaring debts mean more defaults. and that's verybad news, says mark kantrowitz. mark kantrowitz: when someone defaults on a student loan, it'slike a trip through hell, i mean, all the negative things that occur, the garnishments,the interception of your income tax returns. your credit is ruined. paul solman: moreover,unlike credit card and other borrowing, congress has legislated that you can't even escapestudent debt through bankruptcy. robert applebaum is an advocate for student loan reform. robertapplebaum, forgivestudentloandebt.com: not only can you not go to chapter 7 bankruptcy,which is a discharge of your debt. you can't go to chapter 13 bankruptcy, which is justa restructuring of your debt, so essentially

refinancing. you go into massive amounts ofdebt just to get an education that you need as a prerequisite to get a job, and then spendthe rest your life paying off that educational debt. there's got to be a better way. paulsolman: the policy question then that hangs over the trillion-dollar student debt overhang:is there a better way, and, if so, what is it? jeffrey brown: paul's next report looksat the move to forgive student loan debt. online, you can figure out whether it's stillpossible to work your way through school. you can use our college cost and income calculator.urn:schemas-microsoft-com:office:smarttags state urn:schemas-microsoft-com:office:smarttagscountry-region urn:schemas-microsoft-com:office:smarttags place judy woodruff: now: the first of tworeports on the ever-growing student loan debt

problem normal microsoft office word judywoodruff: now: the first of two reports on the ever-growing student loan debt problemtitle microsoft office word document msworddoc word.document.8

where can i get a school loan

so, you believe you can fly. i'm cheri ashwood.i'm a guidance counselor and today i'm going to tell you how to get a student loan foryour private pilot's license. you're going to pay roughly anywhere between $6,000 to$10,000 to get training to obtain a private pilot's license. this may be paid by the hourif you choose to go to a flight club or a private instructor for training. there aresome technical schools that also offer associate degrees and, through these institutions, you'llbe eligible for any scholarship or financial aid that the school offers as well as federalloans. and some examples are broward college or a college in texas that has what wouldbe called an aviation technologist's license. to get student loans outside of the federalgovernment, you can solicit private organizations.

i'm sure there are flying organizations thatwould want to lend you money. a private loan would also be a good idea or a part time job,saving money to help pay for your private pilot's license. i'm cheri ashwood. i'm aguidance counselor and your future starts today.

where can i apply for student loans

the quickest and easiest way to apply for student finance is online. to complete your application, you’ll need your passport, national insurance number and bank details – so make sure you have these to hand. don’t worry if you don’t have a confirmed place at uni; you can apply using your preferred choice and simply change the details online later if you need to it can take up to six weeks to process your application so apply now! if your application is late, your money might be too. remember, your application isn’t complete and can’t be assessed until we have all the information we need you should send us any evidence we ask for as quickly as possible to avoid any delay in your application being processed. you then need to print out the declaration form, sign it and return it to us

we’ll send you a letter telling you how much you can get. once you register at uni, we’ll make the first payment.

where can i apply for a student loan

student loan debt continues tobe a huge problem in the us, topping $1.3 trillion and surpassing credit card debt.student loan report decided to do a survey of 500 collegegraduates who have student loan debt to see how far they're willing to go to have their debtforgiven. the title of the report is "18 insane thingsgraduates would do to get rid of their student loan debt." let megive you the percentage of people that are willing to do

these crazy things. which by the way, i wouldprobably do that as well. >> i can't give up my yeezys. >>crocs are unacceptable. i knowa lot of you would be mad at me, but crocs are not for me. >> really? you are so frugal insome ways. you have the opportunity to have $100,000in student debt forgiven, you just have to recruitall the time. >> yeah, no i wouldn't do that.and it's not that i don't have

debt. i do. >> i would rather have a dickcome out of my four head for the next 10 years and have to wear crocs. >> you know, there is a sex toythat will help you do that. let me give you some moreinteresting stuff from the survey. >>to be fair,29.6% of them kind of had to. >> those are the peoplewith the really bad acne.

>> you are worse. i was thinking morealong the lines of ã± sex isn't really that great. >> here is another stat.that is a lot of people. >> it's amazing to me, is thatmore people would be willing to star in a porn to get rid oftheir student debt then vote for hillary clinton.oh, vote for hillary? no. >> let me give youmore stats on that. >>to be fair, 57.6would vote for donald trump.

>> that is insane. >> donald trump isslightly more hated. they would rather be on a pornothat lives forever on the internet, that gives you thesense of the division in the country. >> they are probably sanderssupporters anyway. sorry guys. >> will you be in a porno withcrocs so no one will watch it? >> i guarantee you there isprobably a fetish for that. i wouldn't be surprised if youtyped in crock porn and

something did not come up. >>you are right. >> you mean type it in again? >> and here is another stat.that is the most painful part. >> that shows you how badcomcast is. i have been saying it for 10 years because i would not touch them. i don't evenlike saying the word comcast. >> this is obviously joking, andpeople participating recognize

that. it is a little bittongue-in-cheek, but it gives you some indication of the frustration in the country. bothtoward student loans, but also towards crocs, comcast, and ourpresidential candidates. >>it's incredible. the kind ofkill two birds with one stone with the survey because it's notjust telling us about the stress people are feeling with studentloan debt, is telling us a lot of how irritable people arewith society. >> i actually even feel like ittells you a little bit of how

much porn has become acceptable.comcast called me, no way. porn, we are having a conversation. >> you can also say that peoplehave sex text on their phone. >> it really does tell you alittle bit about our culture and a little bit of our politics.but for the one to say i wouldn't vote for donald trump or hillary clinton, or i wouldeven vote for them to get rid of my student loan debt, there isone candidate you actually could for vote for if you want to getrid of your student loan debt.

i'm not talking about berniesanders, i'm talking about jill stein. bernie sanders says i'llgive you free college education. $70 billion sounds like a lot,but it's nothing compared to the iraq war. that cost about $1.4trillion which is literally 20 times what free collegeeducation for anyone who wants it would cost. isn't thatamazing? jill stein's program is that plus all the student loansin the country. gone. some might say that that is unrealistic, iam not sure i agree with it because it seems like much. i ama bit more moderate in my

economic positions than dr.stein, but my job is to fill you in on information and the facts.fact is if you want a candidate like that, jill stein says if she becomes president, she isthe head of the green party, she will forgive $1.4trillion of student debt. >> i love jill stein, but how doyou go and forgive private student loan debt from privatelenders? you can do that. >>one way the government coulddo it is say we are paying it. >> so, right now the fed givesthe banks $20 billion a year

just for being part of the fed.for nothing. they could take that 20 million put it towards that. i'm sure this is doable.i like jill stein. i'm going to vote forthe green party. >> i just said we did pay forthe iraq war. when there was a well, we found a way. if it wasto go in totally destroy the middle east, and open up apandora's box from which isis arose, so many of our guys died,we somehow found $1.4 trillion for that. but when you say get

rid of your student loan debt,and also it is bogging down the economy because you don't havemoney for cars and other products ã± by the way, i evensay no way. i would not have spent $1.4 trillion on either. but is there a way? yes.

website for student loans

the federal government will make awhopping $127 billion dollars of student loan debt in the next decadethat's because the high interest rate on the student loans now i should note thats federal student loans have a lowerinterest rate than the interest rate that they they would get from banks but they're still making a ton of moneyof students anyway something that makes us senator-elect elizabeth warren veryvery upset now i this program produces a profitbecause the interest rate paid by borrowers

exceeds the federal government's cost tofund those loans and administer the program now i should note that the total studentloan debt has actually doubled since 2007 and that'sbecause tuition has increased and its harder to get low-interest loansand also still on profits are used to fund the federal government generally rather than specific programs let megive you a breakdown of the interest rate so you understand why thegovernment is making such a huge profit so the average undergraduate borrowerwill pay 5.7 25 percent

to borrow from the federal governmentnow this is in 2015 and in 2015 the interest rate actuallyincreases these are the increase is that we're talking about now graduate borrowers are forecast to payat least 7.27 percent and parents will pay 8.27 percent now just to put things in perspectivewhen the federal reserve %uh gives loans primary loans to banks youshould keep in mind that they lend that money at point 75 percent so if you look atthe history and the federal reserve

giving money to banks you'll see thatyears ago it was actually the interest rate was alot higher was about 5 percent and then after 2008 they went down 2.75 percentand that the federal reserve will make the argument that pay the banks hadissues with liquidity and we wanted to make sure that we helpthem out with the short term loans up and of course the banks take themoney and then they landed at a higher interest rate to the american people so that's a little problematic but theywill make the argument the federal reserve will that this isbetter for the economy

yeah know it seems better for the banksincluding hey definitely so it doesn't seem as short term if we'vebeen doing it since 2008 at least and it through c terrible disconnect here where they sayno it's really important to everyone that we give it to the bank said 0.75 so they could lower back to you at 567the wind in the middle men want you just low intermediate point 75 pay know because the banks aretrustworthy book because there be default if we just give it tothe american people or to the students

right no wait a minute the banks or crash in2008 so apparently they're not that so the argument will be that thegovernment shouldn't shoes a the winners and losers right to choosethe bank said they give the point 75 percent to exactly this is total or scrap yen but my biggest problem with this is thatthe average undergrad student takes out twenty six thousand dollars instudent loan debt now that's the average okay so we know that there'sturns out there that take out way more

upwards of a hundred thousand dollars instudent loan debt and we knew couple bad with a 5.75percent interest rate i mean these kids aregoing to be in debt for the rest of their lives and it that really harm the economy you mightthink well i don't have the dead so who cares doesn't bother me well first of all we can get rid of thebankruptcy and also be can actually be part ugh an economywhere they stimulated they're not able to buy cars and housesin certain things that help to stimulate

the economy because their their credit looks bad they haveall this debt that they can't get rid up so now would let's be fair so for civil at least this is a rate that is lowerthan what the students would get a bank now the bank can puts all this money ontop for their own profits now the other part time it is thatthere's going to be a default rate so you can just chargepoint 75 becausesome people will pay you back and you gotta take that into consideration is made everything's and the governmentfor some people says he even pay me back

a your according to your income levelwhich a bank private bank of course doesn't do they don't care what yourincome level is gonna pay whatever you owe them was a government would justhow much you have to pay our in these students for their good side sowhat they're doing there's a reason why it has to be alittle higher than them point 75 but it is officially high now that overthe next decade they're gonna make a 127 billion dollars in profit so now that profit summer goes back toeducation as they say look that way we can get more pell grantsetcetera but the lion's share this goes

back into the normal budget exact sothen they go great we have more money for tax cuts for the rich war wars orwhatever their portion at four right but they're taking it out on thestudents pocket and giving it to everyone else which seems a little perverse absolutelyyet then again the 5.7 is not an atrocious interest rate its likehistorically thought about interest rate but when dj banks though

eve get it so much lower there's anexcellent case to be made by people like senator warner senatorsherrod brown from ohio to say there's a significant injustice here andalso you know at last year's senator warren had proposed legislation thatwould cap the interest rate to what the federal reserve lands tobanks and of course members of congress were buying it because they're in bedwith these big banks course there's the campaign funding andall that %uh but at the same time would say all right that's a little extreme wedon't want that there were some members of congress thatsaid okay at least allow the students to

refinance their loans and politicians are like no nobankruptcy no refinancing get the hell outta herelet's go over the students let's make sure their debt for the rest of theirlives now course still say that this because wewant them to be responsible and if that's the money you owed well that'sthe money you owe except of course in 2008 when the bankswere terribly irresponsible crash in tired ã©conomie and we gave them in essence when youclued the treasury

and the federal reserve s7trillion-dollar baylor what happened responsibility that

view student loans

if you need help paying forcollege or career school, the office of federal studentaid might be your best option. we offer more than $150 billionto students each year in the form of grants, loans,and work-study funds. and federal student aid can beused to pay for school expenses such as tuition, room andboard, and books and supplies. after you've filled out thefree application for federalstudent aid or fafsa, you'll receive an award letterfrom each school you list onyour fafsa. this letter explains both thefederal and non-federal

financial aid options that aschool is offering you. so let's talk about federal aid. if you qualify for and receivea federal grant, you won't haveto repay the money. that will definitely helpoffset the cost of school, butyou may still need additionalhelp. if so, a federal student loanmight be your answer. remember, a student loan isjust like any other loan; it's borrowed money that willhave to be repaid with interest. if you plan to take out a loan,consider federal student loansfirst. compared to private studentloans, federal student loansoften have lower fixed interestrates

and offer many benefits thatyou won't find otherwise. for example, when it's time foryou to repay your federalstudent loan, your loan servicer can workwith you to find the bestrepayment plan for yourindividual needs. plus, you may be able to adjustyour loan payments based onyour income. you also may be able to deferyour federal loan payments,deduct student loan interest onyour taxes, and even consolidate youreligible federal student loansinto one loan with one monthlypayment. federal loans can even beforgiven based on certain typesof employment. getting a work-study job isanother great option to helppay for school. eligible undergraduate andgraduate students will be ableto earn at least minimum wage.

if you have questions or needany assistance, you can contactthe financial aid office atyour college or career school orvisit studentaid.gov for moreinformation.

usdoe loans

good morning hank, it's tuesday. so, one of the biggest issues in global politics these days is government debt and deficits, which is a particularly big deal in the united states because of the presidential campaign and also because of the looming fiscal cliff. and hank, as you'll no doubt remember, i received a bronze medal in economics at the 1994 alabama state academic decathlon, meaning that in 1994, i was the third best seventeen-year-old economist among all c students in the state of alabama, so not to brag or anything, but i'm pretty qualified to explain this stuff. okay, so first we have to separate the ideas of debt and deficit. debt is the total amount of our outstanding liabilities.

deficit , or occasionally surplus, is the difference between what the government spends and what it takes in. right, so in the united states, our current national debt is around 16 trillion dollars, which sounds like a lot of money, and it is. but let's break this down. the largest single holder of u.s. government debt is actually the federal government itself because trust funds like social security buy government bons and so the interest goes from the u.s. government to a different part of the u.s.government, which is not borrowing as we usually imagine it. so if you take away that money, you're left with about 11 trillion dollars, which is still a fair bit of cash. who owns that debt?

china, you probably guessed, but in fact, no. the plurality of that debt is actually owned by us. us being american individuals and institutions. china owns about 8% of our debt, japan 7% and the uk, 1%. but it's important to note that the us also owns foreign debt, including about 235 billion dollars of sovereign debt in china and hong kong. altogether, for every one dollar of us debt that's owned by a foreign country, we own about 89 cents of foreign debt. so you can't really think of government debt the same way you'd think about, like, a family owing money to a credit card company because in that situation, the family owes money to someone else.

but in the case of us government debt, we mostly, indirectly or directly, owe money to ourselves. so our national debt is a very large number, but at least at the moment, it is not a very large problem. like in 2011, we paid about 3% total interest on our debt. in 2012, it will be even less because our debt is incredibly cheap right now. i mean, hank, in some ways, it is literally cheaper than free. right now, the yield on a one year treasury bon is 0.17%. okay, two very important things to note about the debt: first, china can't, like, call in our debt on a day of its choosing. if i buy a $100, one year treasury bon today, i'm going to get that $100 back, along with my 17 cents in interest in one year. i can't call after a month and be like, "give me my money back!"

so despite what you hear from a lot of political commentators, that is not really a risk to the us economy. secondly, you may have heard people say, "the government should be run like a business. it should never spend more than it takes in." yeah, no, that is not how businesses are run. like, say that tomorrow, i invent a marty mcfly hovercraft skateboard. in that situation, i wouldn't wait twenty years until i've sold enough dftba posters to build my marty mcfly hoverboard factory. i would just borrow the money and build the factory immediately so i could start selling hoverboards and swim in a sea of hundred dollar bills. actually, i would not swim in a sea of hundred dollar bills. i would hoverboard over that sea. businesses spend more than they bring in all the time, as well they should

and almost all economists agree that governments are similar. there are times when they need to run deficits. for instance, during a recession, government revenue goes down because wages stagnate and unemployment goes up. but government expenditures have to go up, like on unemployment benefits, for instance. so just to be clear, deficits are not inherently evil and our current debt, while it is very large, does not pose a threat to the american economy because we can pay it back with relative ease. i mean, it's not going to be free, but it's going to be like 2% of gdp. we've done it before! however, there is a huge future risk to us, because what if our debt stopped being cheap? what if people stopped believing that the us is the safest place to put their money and they start to

buy bonds in, i don't know, like brazil or china or germany? well, that would be very bad because most years, we run a budget deficit and so we would need to keep borrowing money at these higher interest rates, which would necessitate more deficits, and therefore more borrowing at progressively higher interest rates. and then we'd have to cut spending, which would slow growth and raise taxes, which would slow growth more, and then greece. except this might actually be much worse for us than it's been for greece because the us enjoys all kinds of benefits from having the world's most trusted currency. like, hank, believe it or not, most us paper currency actually circulates outside the us

and that's very helpful for us in terms of exchange rates and keeping our debt cheap and if we lost that, it would be devastating because we would just be a regular country again. okay, so the federal deficit in 2011 was about 1.3 trillion. it'll be down a little bit this year to about a trillion. it'll be down further in 2013, no matter who is president, to about 900 billion. but most people think that number needs to continue to come down, or at some point, we are going to risk the spiraling higher interest rates. so there are two ways of doing this. this first is to print more money, like, oh, we need a hundred billion dollars to close the deficit? look, i just made a hundred billion dollars using a printing press! that sounds like a fine idea, except that it will lead to inflation. now a lot of people in comments will be saying

that we should just return to the gold standard, which i think is a very bad idea, for the reasons i explain in the dooblydoo. however: in the broadest sense, our currency is already pegged to goods and services because if the amount of money in the world doubled tomorrow, the amount of stuff wouldn't, so you can imagine what would happen to the cost of everything: it would double. the second, and better, way to cut the deficit is to close the gap between what we take in and what we spend, and in times of economic expansion, this is actually quite easy because the tax base grows and the amount of money people make goes up, so they pay more taxes, so we can just have surpluses, as we did in the 1990s.

but during slow recoveries, like the one we have right now, it is much more complicated. so, like, both president obama and governor romney favored unspecified spending cuts, governor romney also favors a tax cut of 20% across the board, whereas president obama thinks that we should increase taxes by rolling back the bush era tax cut on income over $250,000. neither of these plans is likely to eliminate the deficit, although, again, the deficit doesn't necessarily need to be eliminated. and no matter what political rhetoric you hear, neither of these plans is terribly radical either. president obama wants to put the top marginal income tax rate at 39%. it was over 50% every year from 1945 until 1986.

mitt romney wants to cut that tax rate to 28.5%, which is where it was in 1989. we can argue thoughtfully about what our policy position should be, but amid all the rhetoric and decontextualized statistics, i just want to underscore that while deficit reduction is important, it is not a crisis. the whole idea here is to keep it from becoming a crisis and one of the best ways to do that is to understand the problem without yelling about it, discuss things honestly without assuming that the people who disagree with you hate america. hank, i'll see you on friday. ps, friendly reminder, educational videos are allowed to be over four minutes. i'm still working on my punishment, sorry.

unsubsidized student loan

federal direct loans are the largest andmost common for students who need a loan the federal direct program breaks down toabout four types of direct loans first is subsidized. these loans are madeeligible to undergraduate students who demonstrate financial need also you must be a us citizen or an eligible non-citizen enrolled atleast halftime and maintaining satisfactoryacademic performance

undergraduate student loans

mike: hey? have you guys ever heard of tyleroakley? well, tyler oakley has heard os student loans, cuz he had 'em. big time. and so heand his friends at big frame have asked us to make this for you to explain how studentloans work so you know, you guys can hae a slightly better life vis a vis (?) studentloans than tyler did. cuz from what i understand, he and his friends found it very confusingbeing that they're humans and everything. so how do student loans work, and how canyou make them work better for you? part one: the fafsa aka free application for federal student aid.now before you actually start looking for loans, you're gonna want to fill one of thesebabies out, either online or on a paper form,

which apparently is still a thing. did you?i didn't. in any case, huh? quick note: filling out the fafsa is free!free! never pay any scammers who are trying to get your money to fill it out. go to fafsa'sgovernment website, not fafsa.com because those guys... somethin's fishy. in addition to being used for federal financialaid the fafsa is also used by state and school funded programs, such as scholarships. nowif you’re in high school, reeer-eer rock and roll, high school here, it's the hippestplace in town. look at me, i'm not a 31 year old man, i'm so hip. i think you can tell.(beep) if you’re in high school then you’ll definitely want to fill this out as soon aspossible after january 1st during your senior

year. if you’re not in high school, youstill do want to fill it out as soon as possible after the new year. i do want to take a second to emphasize howimportant this is. most financial aid is given out on a first come, first served basis eventhough it is determined by different factors. so the sooner you can get that fafsa in, thebettter you chances of getting the maximum amount of aid available to you. and alas,this is not a one time thing, either. even when you're in school, you have to keep fillingit out every year. this is because, you know, your circumstances might change. one of ourlovely tumblr readers said that you can get help from the financial aid office which makesa lot of sense and we would highly recommend

that. to actually fill it out your fafsa, you’regonna need some documents. there are lots of different ones, so right now that informationis just floatin' around my face right now because powers. also, don’t leave any blankspace on the form, if something doesn't apply to you, just write zero or not applicableand then you're done, you know. just wrap that baby in a blanket and smack it on thebottom, cuz we're going on to-- part two: types of loans after submitting your fafsa, there are goingto be a number of different loan options. these include:

1. stafford loans – these are offered directlyto you, the student, from the us department of education. they can be used to pay formany different kinds of higher education. stafford loans will either be subsidized orunsubsidized, based on your financial need. subsidized loans mean you don’t have topay any interest on the loan while you’re still in school at least half-time. if yourloan is unsubsidized, you begin accruing interest on the first day you receive your funding. 2. plus loans – aka “parent loans forundergraduate students.” these loans are offered to the parents of students by theus department of education to help fund their child’s education. plus loans are limitedto the actual education expenses minus any

other financial aid received by the student. 3. perkins loans – perkins loans are availablefor undergraduate or graduate students. these loans are financed by your school, but areguaranteed by the federal government. perkins loans are based on your financial need andhave caps of $27,500 for undergrads, and $60,000 for graduate students. when weighing your financial options, pleasebe sure to look at your interest rate. even decimal points of difference can add up tohuge amounts over the 10, 20 or whatever years during which you're going to be paying yourloans. so read that fine print baby! depending on your situation, you may alsoneed to apply for private loans. these are

kind of tricky. private loans typically chargehigher fees and more interest, but we do know that they might be the only option in yourcase. more info in the dooblydo. part three: repayment hey, check out that fancy piece o’ paperin your hands! whoah mama! aooga! time to pay for it. you're gonna have a few differentchoices of how to pay your loans back. 1. original terms - you can repay based onyour loan’s original terms. this is typically a 10 to 20 year repayment plan and it is themost common method. 2. income-based repayment. this is the secondmost common type. the terms of your original loan are restructured to fit into your budgetbased on your current level of income. you

will need to reapply ever year for this typeof repayment, because your income may be changing year to year, hopefully going up. up, up,up, to the moon! 3. deferment - if you can't afford your studentloan payment, in some cases you can defer it. deferment doesn’t get rid of your studentloan debt, it simply puts off when your repayment plan begins. it’s usually only granted tocurrent students, citizens in the military, or if you’re unemployed or are earning lessthan the minimum wage. unsubsidized loans will continue to accrue interest during deferment,so it’s a good idea to make any payments that you’re able to. 4. consolidation loans – if you’re nowout of school and find your current repayment

plan difficult to manage, you can always consolidateyour loans. consolidating will take multiple loans and simplify them into a single newloan. this can make repayment simpler and can extend your repayment terms up to 30 years,which will lower your monthly payments, but will greatly increase the amount of interestyou pay over the years. it is super dupes important to stay on topof your student loan payments or to work with a loan servicing company if you know thatyou can't make your payments, do that as soon as possible. also, student loan debt doesnot automatically go away. even if you file for bakruptcy! what the crap? only under veryspecial circumstances are you going to have these loans forgiven. one of those circumstancesis death. so you die, but you don't have to

pay. every cloud... you may actually be able to get your loansreduced or completely forgiven if you choose to work in the public sector. you may stillhave to may 120 on-time monthly payments before your remaining balance is forgiven, but thisis a great option for local, state, and federal government employees. part four: a note for parents hi parents! it's nice to see you around here.you're looking nice. would you like this gift card for chili's? (laughs) or these ticketsto your billy joel concert? or would you like... what's another thing grown-ups like? i'm agrown up (record scratch) existential crisis!

according to forbes, more than half of allstudent loans are either delinquent or in deferral. these loans can be for staggeringamounts, so if you do choose to help pay for your child's college education, saving earlyis a+++. the irs actually wants you to help pay for your child's education, so they havesomething called a 529 savings plan, which is kind of like a roth ira for saving foryour bebes’ future. not everyone has parents who are going to be able to help, but i dowant everyone to know this option exists to help. part five: tyler oakley i'm so excited about this that i spit. i spitin the rainbow arc, with the bad french accent

that goes to italian sometimes. tyler, youmake me speak in tongues, you make my sould dance, you make my liver quiver. i don't knowwhat to say to you except (kiss) thank you so much to tyler oakley and friendsfor suggesting the topic of this week's video. in return, i'm so happy to tell everyone thathowtoadult will be donating ad revenue from this video to the trevor project. the trevorproject is a 24-hour hotline and resource for crisis intervention and suicide preventionservices to lgbtq young people from ages 13-24. tyler has supported the trevor project foryears. it's very near and dear to his heart and to ours, so this is just our way of payingit forward. thank you so much tyler, we heart you. if you guys are looking for a model ofawesome adulthood, tyler oakley is pretty

hard to beat. we'll see you guys next week.i love you bye. (kiss) (endscreen)

types of student loans

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types of loans

when you're dealing with trying tochoose the mortgage that's right for you there are many options out there themost common products that you probably come across would be a fixed interestrate where the interest rate never changesthen it's a set number appears that you're gonna pay on allowed and when you're done pain that periodtime that wow is payoff in you know i'm anything more then you also have youradjustable-rate mortgages where the interest rate may be fixedfirst appeared at time-life a wind 35 for seven years and then every yearafter that the interest rate changes so

therefore your payment would be changing ass wow so i fha loan is agovernment-sponsored loan you can get in with a little bit lower oven downpayment um typically that's two and a halfpercent it's a nice product for first-time homebuyer but it's reallygreat for any home buyer who on may have a little bit higher idebt to income ratio now or they may not have this much cash in the bank to be able to: eyes forreserves or somebody you know who doesn't have the

you know most perfect credit the loansare for military folks and so either parker military retiredmilitary the benefits to a va loan primarily are not no down payment when you're dealingwith a va lad i wanted the most important things isthat we do have to verify your opportune mission in the militaryjumble our own is typically allow in that style larger than what we would consider to bea conforming loan size these are loan sizes that areestablished by the government

i've based on what be bowden median incommon median house prices are i said jumbos are typically yourlarger land size says i it uh typically means that their higherinterest rates and a little bit more strict credit guidelines the pain on the county you live inacross the country each county has a different limit but normally speaking a jumbo loan asanything over 417,000 and the movie the new the new

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