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| *Loan,banking and credit>>>college loan |
Is it better for parents or students to take out college loans? |
I am not sure what is the smartest way for us to pay for college> I have triplet sons and they will all start college in the fall,,,is there a tax benefit or any benefit to put in parents names????I am so concerned.....Any ideas???? WOW... thats gonna be one hellava expense (worth it, but WOW!). your gonna have to sign on their loans anyway, all parents end up having to co sign. these will help. i know its a lot, but take your time and pick through them all...its worth it. -------------------- try to aim for grants/scholarships more... they are not to be paid back. its confusing sometimes, but just keep applying. Scholarships usually have a 1 or 2 page application, and require an essay. Take your time with the essay, so yours stands out. every big (and small) company you see (manufacturer, orgs, corps and groups also) all have grants and scholarships they hand out like candy. Walmart, Kmart, Target, Coke, computer companies etc etc etc here are some links with a HUGE list of what is available. some you will need to copy and paste into a new window. also, fastweb (take the time to fill it in) will search databases and get back to you with a list of scholarships you qualify for. Also contact all mens, womens associations in your state, they almost always have grants & scholarships. What ever field you are going into, contact the orgs, associations etc for them; Also check with professional organizations related to your career interests, such as the American Bar Association or the American Medical Association. they also always have scholarships. Research and dig, call then write. Its all worth it. OVER apply; it doesnt hurt to have too many, and the extra funds can help with housing. YOU WILL NEED ADOBE READER: (yes, its free) http://www.adobe.com/products/acrobat/re... LIST http://www.lifebridge.org/gran-list-alph... http://www.angelfire.com/nj4/njcomputerc... http://www.chrome.org/scholarshiplist.ht... MORE & INFO: http://www.ftc.gov/bcp/menu-jobs.htm... http://www.finaid.org/scholarships/other... http://www.finaid.org/otheraid/... http://www.back2college.com/library/scho... http://www.collegeconfidential.com/... http://college-scholarships.com/... http://www.statefarm.com/about/part_spos... http://www.gmsp.org http://www.gmsp.org/gmsp_web/(nb5ctd55ga... http://www.sfa.ufl.edu:16080/scholarship... http://www.edsf.org/scholarshipawards.cf... http://www.fafsaonline.com/ http://www.fafsa.ed.gov/ http://www.feea.org/ http://12.46.245.173/cfda/cfda.html... http://www.salliemae.com/ http://www.ed.gov/finaid/landing.jhtml... http://www.scholarshipexperts.com/... http://www.educationplanner.com/ss/code/... http://www.studentawards.com/ http://www.collegeanswer.com/index.jsp... http://www.studentscholarshipsearch.com/... http://www.studentscholarshipsearch.com/... NURSING / CNA http://www.scholarships-ar-us.org/grants... http://www.dar.org/natsociety/edout_scho... http://nursingworld.org/nursecareer/edfu... http://www.medi-smart.com/finaid.htm... http://www.discovernursing.com/nursing-s... http://www.ncaa.org/about/scholarships.h... http://bhpr.hrsa.gov/dsa/nsl.htm... http://www.nsna.org/foundation/... http://www.4cnas.com http://www.choosenursing.com/ http://www.minoritynurse.com/ http://www.tylenol.com/page.jhtml?id=tyl... http://www.straightforwardmedia.com/nurs... http://bhpr.hrsa.gov/nursing/scholarship... http://www.akaeaf.org/programsandinitiat... http://www.schoolsoup.com/ http://www.blackexcel.org/link4.htm... http://www.jackierobinson.org/ http://www.wilsonfund.org/scholarships/s... http://www.siemens-foundation.org/teache... http://www.childcareservices.org/ps/teac... http://www.act.org/goldwater/yybull.html... http://www.uncf.org/ http://www.socxfbi.org/login.asp?reason=... http://www.finaid.org/ http://studentaid.ed.gov/portalswebapp/s... http://www.actstudent.org/finaid/scholar... http://www.act.org/recognition/clients.h... http://www.act.org/kfcscholars/index.htm... http://www.kfcscholars.org/ http://www.rhodesscholar.org/ http://www.collegedata.com/ http://www.fastweb.com/ http://www.getreadyforcollege.org/gpg.cf... http://www.policylink.org/edtk/ah101/fin... http://www.hud.gov/grants/index.cfm... BECOMING A TEACHER http://www.aft.org/teachers/jft/becoming... http://www.fseog.com/ CHILDREN OF MILITARY http://www.militaryscholar.org/about/abo... http://www.mcsf.com/site/c.ivkvlamtiug/b... http://www.vfw.org/index.cfm <-do search for 鈥榮cholarships鈥?br /> http://www.milspouse.org/educ/fund/milfs... http://www.aerhq.org/education_dependent... INTERNSHIPS, http://www.fasttrackinternships.com/... http://www.internprograms.com/ http://www.brillstreet.com/ http://ceri.msu.edu/ DEPENDENCY or NOT http://www.salliemae.com/get_student_loa... LOAN FORGIVENESS http://www.pheaa.org/loanforgiveness/hea... http://www.aft.org/teachers/jft/loanforg... http://studentaid.ed.gov/portalswebapp/s... http://www.finaid.org/loans/forgiveness.... http://www.aessuccess.org/manage/cant_ma... http://www.staffordloan.com/repayment/fo... http://www.educationplanner.com/ss/code/... STATUS OF LOAN OR AID http://www.nslds.ed.gov/nslds_sa/... IF YOU DON鈥橳 HAVE YOUR PIN yet (for your loan / aid status) apply for one: http://www.pin.ed.gov/pinwebapp/pinindex... ESSAY HELP http://www.scholarshiphelp.org/... http://www.gradesaver.com/resources/scho... http://www.collegeadmissionsessays.com/... http://www.nataviguides.com/broke_essay.... http://www.princetonreview.com/college/a... http://www.scholarshipessay.us/... http://www.freschinfo.com/tips-brainstor... http://www.freschinfo.com/tips-topic.php... http://essayedge.com/ http://www.korepetycje.com/essays_articl... GRANT SCHOLARSHIP SCAM LIST (if you find a scam report it here too) http://www.ftc.gov/ftc/consumer/media_ps... LOANS http://www.acteducationloans.com/... http://www.finaid.org/loans/educationlen... http://www.financialaid.com/plus/index.c... http://www.alternativestudentloan.com/... http://www.parentplusloan.com/ http://www.financialaidpodcast.com/about... http://www.myspace.com/financialaidpodca... http://www.financialaidpodcast.com... GRAD LOANS & SCHOLARSHIP http://www.gradloans.com/graduate-plus-l... http://www.gfoa.org/services/scholarship... DEFAULTED STUDENT LOANS http://www.ed.gov/offices/osfap/dcs/inde... CONSOLIDATE LOANS http://www.plusloanconsolidator.com/... http://www.salliemae.com/after_graduatio... http://www.salliemae.com/content/private... http://loanconsolidation.ed.gov/... RATE MY PROFESSORS http://www.ratemyprofessors.com/index.js... INTERNATIONAL STUDENTS http://www.iefa.org/ http://www.iefa.org/resources/ http://educationusa.state.gov/ http://college-scholarships.com/... http://www.studyabroad.com/forum/financi... http://www.internationalstudent.com/... http://www.internationalscholarships.com... http://www.internationalstudentloan.com/... http://www.globalslc.com/ http://www.edupass.org/finaid/loans.phtm... http://www.abroadplanet.com/student-loan... http://www.salliemae.com/international/... HISPANIC SCHOLARSHIPS http://www.hsf.net/ http://www.scholarshipsforhispanics.org/... http://www.statefarm.com/about/part_spos... http://www.hsfi.org/ http://scholarships.hispanicfund.org/app... http://www.chci.org/chciyouth/scholarshi... A lot of corporations want to be seen as "good neighbors" in the community. And they need a way to attract young workers. So some of them grant scholarships, usually from $1,500 to $10,000. When visiting the websites of these companies, on the home page look for something like: ABOUT US or CORP INFO. Click on that, and then look for something like: COMMUNITY or COMMUNITY INVOLVEMENT. check out: 1. BestBuy (2 scholarships from each store for $1,500 and they enter you at their headquarters for a $10,000 scholarship). 2. Comcast (your high school principal must recommend you for a $1,000 scholarship. They also have paid internship at a limited number of locations nationwide.) 3. Cracker Barrel (www.cbrlgroup.com) for employees, or their children - $1,000 4. Kohls (each store awards $50 and a certificate; then submits their winners to the region. Regional winners receive $1,000 and are submitted to the corporate headquarters. Corporate level winners get a $5,000 scholarship and a $1,000 donation to their favorite charity.) 5. Wal-Mart (www.walmartfoundation.org) Each store awards $1,000 to 2 students at each school in their area. Or if you have been an employee for 12 months, you qualify to apply for a $2,500 scholarship. 6. McDonalds (as Ronald McDonald House Charities at: www.RMHC.ORG) varies by region of the county. But a typical award is $1,000. May be from the corporation or from an association of stores in your area. Each of these companies have a simple application (1鈥? pages) process. The student should take out the long, so they understand the responsibility of repaying the loan. my mom took out the loan for my sister. its good in that when she dies, the debt goes away since she doesnt have enough assets to pay for it. on the other hand, my sister decided she doesnt have to make the payments, and went ahead and makes my mom make the payments on her loans, because she is angry at her about something. ild say, if you didnt want to pay for your kids college, you shouldnt have had kids, but on the other hand, if the little tirds didnt want to pay off their loans, they shouldnt go to college. Don't worry! I am a college student and all my loans are in my name. I am leaving school with debt, but I have gotten some great scholarships (make sure to try to apply to as many as possible, even if there are essays involved!!!). As for who's name the loans should be in THE STUDENT's, if it is in your name, you pay it back while they are in school and with 3 kids that's gonna be A LOT. But if the loans are in your kid's names, they don't have to pay them back until 6 mo's after graduation (if they are through the gov't). To get loans through the gov't check out the FAFSA website and the earlier you get started on it, the less stressful it will be, trust me!!! Since tax laws are complicated I would definately recommend talking to your bank's financial advisor. (I believe putting it under the students name is cheaper however you would probably have to be cosigners) Also be sure to file for FAFSA since you are sending 3 sons at once to college you may get some federal aid. Also if your sons are interested in going the same school they may offer tuition discounts. For example if 2 siblings are going to the same school at Seton Hall University the 2nd sibling will get tuition @ 50%. I don't know about additional siblings but probably under similar rules. I hope this helps. It is best if NO ONE takes out loans. (1) You do not need to be going into debt for something for which you should've saved. (2) Your kids (given that their parents are unprepared) need to get jobs & work their way through school if they really want to go that badly. (3) Student loans suck! I & DH were FOOLISH & our parents were also UNPREPARED, so we borrowed our way through 2 degrees apiece. We are still paying on the last of our student loans. I wouldn't trade my degrees, but I would do it differently if I had it to do over. In fact, we ended up paying cash for my last year since he was working & the debt was already tremendous. I strongly advise AGAINST student loans. The "tax benefits" do not even come close to covering the interest & the stress! We haven't borrowed for ANYTHING since 2002 & we never will again! A hard lesson well-learned. www.daveramsey.com - live debt-free |
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