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    Tuesday, January 24, 2006
    Student loan anyone?
    Student loan is important for those who don't have a Gates or Trump family name. To learn about student loan more it is wise to get several things right before applying it.

    How much - Every student loan have its limit. Always check the limits and does the loan support your course. Yup some course doesn't supported by banks and such. Most major banks will offer you their student loans scheme.

    Payment method. - Ask for the payment method. If the bank offers you direct tranfer, ask for the fee and compare it with several other banks. Normally a small fee will be charge for student loans. If they pay you using checks, ask them if you can cash it in the time span of your choice.

    It's pay back time. - Calculate the interest rate before signing up. This is important before you apply for any student loan. You don't want to owe the banks for the rest of your life. High interest means more money coming out from your wallet.

    Check the papers. - Read the student loan contract several times. Take the student loan contract home for several days because you need to study the terms. If you have a family lawyer, ask his or her opinion regarding your student loan contract. Make sure your student loan contract is fair for both side. If you found any questionable terms, refer back to your student loan officer as soon as possible.

    The above tips are from my past experience regarding my student loan. Always ask for second opinion before getting your student loans. Don't just ask one or two banks, better if you search for several banks that offer student loans. The reason is, you can compare their fees and terms more easily.
    posted by Jamloceng @ 4:37 PM  
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