PhD position
TILBURG UNIVERSITY
Tilburg University is an institution of higher education, located in the south of the Netherlands that specializes in human and social sciences. Tilburg University is known for its high standards in education and research as well as its excellent support facilities. The compact campus offers ample opportunity to meet staff and students. The student population is slightly over 11,000; with an increasing number of international students.
FACULTY OF SOCIAL AND BEHAVIOURAL SCIENCES
Tilburg University is a modern, specialized university. The teaching and research of the Faculty of Social and Behavioural Sciences are organized around the themes of Health, Organization, and Relations between State, Citizen, and Society. The faculty’s inspiring working environment challenges its workers to realize their ambitions; involvement and cooperation are essential to achieve this.
DEPARTMENT OF DEVELOPMENTAL, CLINICAL AND CROSSCULTURAL PSYCHOLOGY
The section Pediatric Psychology of the Department of Developmental, Clinical and Crosscultural Psychology at Tilburg University is interested in research into the effects of prenatal risk factors, in particular maternal stress, anxiety, smoking, and alcohol or drug use during pregnancy, on children’s cognitive and brain development.
The department is looking for for a competent and enthusiast candidate for:
PhD position (M/F),
1.0 fte, for a period of 1+3 years
vacancy number 400.08.13
TITLE OF THE PHD-PROJECT
“Effects of maternal stress, smoking and use of other stimulants during pregnancy on children’s neurocognitive functioning”
JOB DESCRIPTION
In collaboration with the prospective cohort Amsterdam Born Children and their Development (ABCD) study of the Municipal Health Service (GGD) Amsterdam, Free University(VU) Medical Centre Amsterdam and Academic Medical Center (AMC) Amsterdam, the children will be tested in 2008 and 2009 when they are 5 years of age. In collaboration with three other AIOs of the GGD Amsterdam, the candidate will collect metabolic and cardiovascular data and neurocognitive test data at schools in and around Amsterdam. The candidate will focus on the neurocognitive test data and will relate these data to maternal stress and smoking during pregnancy. The results will be published by the candidate in international scientificjournals, The study is expected to result in a Ph.D. thesis. Because the data collection will take place in Amsterdam, the candidate will be expected to perform this first part of the study at the GGD Amsterdam.
REQUIREMENTS
We are looking for a highly motivated Ph.D. student who has:
A master degree in Psychology, Cognitive Neuroscience, or a related discipline
Experience with designing and conducting human cognitive experimental studies
Experience with statistical analyses
Experience with child testing
A keen interest in theories of the fetal origins of child and adult disease
Good organization, social and communication skills
Excellent written and oral language skills in Dutch and English
TERMS OF EMPLOYMENT
Tilburg University is among the top of the Dutch employers and has an excellent policy concerning terms of employment. The job is initially for one year, but the purpose is to extend the contract with three years, depending on the performance in the first year. The gross salary starts with € 2000,- (full-time) per month in the first year, up to € 2558,- in the last year.
Saturday, June 7, 2008
PhD position TILBURG UNIVERSITY
Study Abroad in UK ,English,Great Brita
UK qualifications are recognized and respected throughout the world. Your UK qualification will be a strong foundation for building your future, boosting your career and prospects for a higher salary. Quality standards for UK institutions are among the best in the world.
There are more than three thousand educational institutions that welcome international students in the UK.UK degrees can take only three years and postgraduate Master's courses only one year - compared with four years and two years in most other countries. This means you will save a great deal on both tuition fees and living costs - and you will be able to start working and earning money sooner. UK degree courses are shorter because they are more intensive, and therefore more efficient in terms of your time and money.
Health care is often free for international students. You are likely to be able to take advantage of National Health Service (NHS) treatment, as well as reduced-cost medicines, dental treatment and eye tests. Find out whether you are entitled to NHS care in the Advice section of the website.
Thousands of scholarships and bursaries are offered by UK institutions just for international students, while more than twenty-one thousand international students receive scholarship funding from the UK Government every year. You can also get more information about these from the scholarships page.
Thanks to changes in work regulations, international students in the UK can now work up to twenty hours a week when studying and full time during vacations.
You may first wish to contact your own Ministry of Education or Education Department, as they should have details of scholarship opportunities for students wishing to study overseas. They will also be able to advise you on your own government's conditions for studying abroad. You may also contact the British Council office in your country of origin, which should have details of British scholarship schemes. The British Council will be able to give you information about educational and training courses and about living in the UK, including how much it costs to study. If there is no British Council office,contact your nearest British Embassy or High Commission.
Admission Requirements
Enquiries concerning admission to a graduate course should be sent to the institutions at least twelve months before the proposed start date. Most institutions do not have a formal closing date for receipt of applications; however, admission to a taught course may have to be submitted by a specific date which varies from course to course. It is also advisable to apply as early as possible given the closing dates and possible level of competition for scholarships given by foundations, trusts and the universities themselves.
For Admission to Master's Degree a UK Bachelor's degree in an appropriate subject, awarded with first or second-class Honours, or an overseas qualification of an equivalent standard from a university or educational institution of university rank is required. Where the US/Canadian marking scheme is used, a minimum grade point average (GPA) of 3.0 is required.
You may have to take one of the following tests: International English Language Testing Service (IELTS) with score 6 or above depending on the course and institution; grade C in Cambridge Proficiency of English or Cambridge Advanced English; Test of English as a Foreign Language (TOEFL) with score 550 or above; NEAB University Entrance Test in English for speakers of other languages at Grade 3.
Approximate Fees(Average of Many Univ.)
MBA: 11000 (GBP)
Arts: 11000 (GBP)
Engineering: 10000-16000 (GBP)
Medical Care:If your course lasts for more than six months, you will be entitled to free medical care under the UK's National Health Service. Even if your course lasts for less than six months, your country might have a reciprocal agreement with the UK which will mean that you also are entitled to free medical care. If your country does not have a reciprocal agreement however, and your course lasts less than six months you should set aside sufficient funds to pay for medical insurance.
Until recently, if you wanted to take a job whilst studying in the UK you first had to obtain permission to do so. This situation changed this year. You are now allowed to work up to twenty hours per week during term time and an unlimited number of hours during vacation time. Similarly you are able to do work placements which are part of a 'sandwich degree' or undertake internship placements with multinational employers.
Universities in Austria
Graz University of Technology
Johannes Kepler University of Linz
Karl Franzens University
Montanuniversität Leoben
Technikum Vorarlberg
Universität für Bodenkultur
University of Art and Industrial Design
University of Economics, Vienna
University of Innsbruck
University of Klagenfurt
University of Salzburg
University of Veterinary Medicine Vienna
University of Vienna
Vienna University of Technology
MCI-Management Center, Innsbruck
University of Vienna
63,000 students from 130 countries are currently enrolled at the University which offers more than 135 Bachelor, Master, Diploma and Doctoral programmes in the fields of study covered by its Faculties.
Austria is a federal state consisting of nine independent federal states: Burgenland, Carinthia, Lower Austria, Salzburg, Styria, Tyrol, Upper Austria, Vienna and Vorarlberg.
According to recent census data for 1998, Austria has 8.1 million inhabitants, of whom approx. 98% speak German. The six ethnic groups officially recognized in Austria are concentrated on the east and south of the country. In 1998, the average life expectancy for a new-born male stood at 74.3 years, for a new-born female at 80.7 years.
In terms of religious allegiances, 78% of Austrians are Roman Catholic, a further 5% Protestant (principally Augsburg Confession). Some 4.5% of the population belong to another faith, 9% belong to no religious group, and 3.5% did not respond.
Austria is a highly developed industrialized nation with an important service sector. The foremost industries are foodstuffs and luxury commodities, mechanical engineering and steel construction, chemicals and vehicle manufacturing. Within the vehicle sector, the production of engines and transmissions is the most important area, accounting for an export quota in excess of 90%. Austria manufactures some 800,000 engines per annum for many major car manufacturers. In the electronic engineering field, Austria has made a name for itself with the production of customized electronics products like microprocessors and integrated circuits for airbags, ABS braking systems and components for Airbus airliners and for high-speed trains etc.
BPCL Scholarships India
BPCL is passionate about the ‘Generation Next’, and thus also supports the various education initiatives at all levels. BPCL scholars are a group of India students who yearly, seek assistance from BPCL in doing their post graduation, both in India & abroad.BPCL supports the students, the future of tomorrow, the fuel of tomorrow’s growth with all humility and passion.
Currently we are inviting applications from students who are pursuing higher studies in Universities/Institutes abroad for which firm admissions have been obtained for sessions starting between July 2008 and November 2008.
Japan CSEAS Fellowship for Visiting Scholars, 2009
CSEAS Fellowship for Visiting Scholars, 2009
(Application Deadline: July 31, 2008)
The Center for Southeast Asian Studies of Kyoto University is now accepting applications from scholars and researchers who work on Southeast Asia, or on any one of the countries in that region, and are interested in spending time in Kyoto, Japan, in order to conduct research, write, or pursue other scholarly interests in connection with their field of study.
Since 1963, more than two hundred distinguished scholars have visited the Center for periods ranging from six months to one year. They have availed themselves of the Center’s considerable scholarly resources and the invigorating atmosphere of scenic Kyoto, the ancient capital of Japan and the main repository of the country’s cultural treasures, to pursue their interests in Southeast Asian area studies. The Center’s multi-disciplinary character and the diverse research interests of its faculty offer visiting scholars an ideal opportunity for the exchange of ideas and the cultivation of comparative perspectives.
Five fellowships will be awarded for the first half of 2009 on a competitive basis. Fellowships are normally for a six-month duration, although in exceptional cases they can be extended for an additional six months.
Successful applicants will receive an appropriate stipend to cover international travel and living expenses in Kyoto. Research funds will also be provided to facilitate his/her work. Funds will also be allocated for domestic travel, subject to government regulations, and a number of other facilities are available to visiting scholars. Fellows will be expected to reside in Kyoto for the duration of their fellowship period.
Scholars are normally invited to deliver a public lecture during their term at the Center. Fellows will also be encouraged to submit an article for possible publication in the Center’s quarterly journal, Southeast Asian Studies, and to contribute to the online Kyoto Review of Southeast Asia.
Beasiswa AMINEF Fulbright Scholarships 2009/2010
SCHOLARSHIPS AND RELATED GRANTS TO STUDY AND DO RESEARCH IN THE UNITED STATES OF AMERICA
American Indonesian Exchange Foundation is pleased to announce availability of the 2009-2010 Fulbright Scholarships to study in the United States. Grants are competitive, comprehensive, and generally cover tuition and fees, textbook allowance, monthly maintenance, international airfare and health insurance. All disciplines and fields of study are eligible for a Fulbright award, EXCEPT medical filed in patient care or medical training.
Fulbright Scholarships Program:
- Master Degree Program
- PhD Program
- Other Program
FIELDS OF STUDY AND REQUIREMENTS:
MASTER’S DEGREE PROGRAM
Master’s Degree Program
Requirements:
A Sarjana (S1) degree
A minimum GPA of 3.00 (4.00 scale)
Min. TOEFL score of 550
Dateline: May 31st, 2008
Freeport Master’s Degree Program
Requirements:
Indonesian citizens from Papua who are faculty members at sate or private institutions of higher education
A Sarjana (S1) degree
A minimum GPA of 3.00 (4.00 scale)
demonstrated committed to the development and service of Papua
Min. TOEFL score of 500
Dateline: May 31st, 2008
Tsunami Relief Initiative Program
Requirements:
Tsunami reconstruction efforts of future relief development activities in Aceh, Nias and northern part of Sumatera
A Sarjana (S1) degree
A minimum GPA of 3.00 (4.00 scale)
Min. TOEFL score of 520
Dateline: May 31st, 2008
PhD PROGRAM
Presidential Scholarship Program (Ph.D. Program)
Requirements:
Preference will be given to individuals who serve or plan to serve as faculty members of state or private institutions of higher education in Indonesia
A Master’s (S2) degree
A minimum GPA of 3.00 (4.00 scale)
Min. TOEFL score of 575. A score of 550 will be considered for certain fields
Dateline: May 31st, 2008
RESEARCH PROGRAMS
Doctoral Dissertation Research Program
This research grant is intended to provide U.S. research opportunities to Indonesian university doctoral candidates who are in the final stages of writing their dissertation. The grant duration is for a period of three to six months. Applicants should have a minimum TOEFL score of 575 to participate in this program.
Dateline: May 31st, 2008
Senior Research Program
This research grants benefits Indonesian scholars who have a doctoral degree or equivalent professional qualifications. The grant affords Indonesian scholars the opportunity to conduct research in the U.S. for a period of three to six months. Applicants should also be able to demonstrate sufficient English language proficiency to conduct research in the U.S.
Dateline: August 31st, 2008
OTHER PROGRAMS
Foreign Language (Bahasa Indonesia) Teaching Assistant (FLTA) Program
The program is for one academic year (9 months) and requires the grantee to teach Bahasa Indonesia at U.S. universities for up to 20 hours per week and to enroll in at least two U.S. studies and/or ESL methodology classes per semester under a full tuition waiver.
Requirements:
English language Teachers or currently in training to become an English language teacher
Applicants can be no older than 29 years of age at the time of application
Min. TOEFL score of 550
Dateline: November 3rd, 2008
Hubert H. Humphrey Fellowship Program for Mid-Career Professionals
Hubert H. Humphrey fellowships enable Indonesian mid-career professionals to participate in non-degree programs that combine academic coursework at the graduate level with professional development activities in the U.S. for a period of one academic year (9 months).
Requirements:
Administrators in leadership positions representing either the public or non-provit private sectors, including Non-Governmental Organizations (NGO’s) who are committed to public service
A Sarjana (S1) degree
A minimum GPA of 2.75 (4.00 scale)
Min. TOEFL score of 525
Dateline: May 31st, 2008
Visiting Specialist Program
The Fulbright Visiting Specialists Program provides grants for Indonesian scholars and practitioners to conduct intensive three or six week programs of teaching, lecturing and public outreach on topics in Islamic civilization and developments in the Muslim world. Participants may be in field of Islamic and area studies, political science, international relations, business and economics, history, women’s studies, journalism, sociology, religion, literature, anthropology, and the arts.
Dateline: May 31st, 2008
International Science and Technology Award for Ph.D. Study
The AMINEF is pleased to announce the availability of approximately 40 awards to be completed worldwide under the aegis of International Fulbright Science and Technology Award for Ph.D. study at top U.S. institutions in science, technology, or engineering for the 2008-2009 academic year matriculants.
Requirements:
A Bachelor and/or Master’s degree
A minimum GPA of 3.00 (4.00 scale)
Undergraduate students who will complete the degree before August 1st, 2008 may also apply
Min. TOEFL score of 580
Min GRE quantitative score of 700 (GRE test will be requires if selected for nomination)
Dateline: April 15th, 2008
Community College Summit Initiative Program
This program enables individuals from Indonesia to study at a community college in U.S. to develop professional skills. Eligible fields are Business Management and Administration; Tourism and Hospitality Management; Health Professions, including Nursing; Media; Information technology; Agriculture and engineering science.
Requirements:
Have complete a secondary school education (High School Diploma)
Have relevant working experience
Have English language skills that provide a basis for enrolling in academic coursework following approximately 6 month of intensive English language study in U.S.
A minimum GPA of 3.00 (4.00 scale)
Min. TOEFL score of 500 or TOEIC score 650
Dateline: November 1st, 2008
International Leadership in Education Program (ILEP)
Requirements:
Secondary-level, full time teachers
Min.ITP TOEFL score of 500
Dateline: May 16th, 2008
For information, please send E-mail to:
infofulbright_ind@aminef.or.id
Phone: (021) 345 2016
Fax: (021) 345 2050
Office Hours: 8:00 - 16:00, Monday to Friday
Application document can be downloading from:
AMINEF Website: http://www.aminef.or.id
Application and specific questions regarding the application process can be sent to:
AMINEF Office
Gedung Balai Pustaka
Jalan Gunung Sahari raya No. 4
Jakarta 10720
Souce :http://beasiswaluarnegeri.com/beasiswa_aminef_fulbright_scholarships_2009_2010
Government Grant Money For College Students
The cost of a college education is skyrocketing. In fact, the price of four years at a state university is expected to grow at a rate of greater than 5% annually. Parents and students are searching for ways to make education more affordable by cutting costs and seeking all available forms of financial aid. The average student manages to reduce the bill by about 40% by taking advantage of financial aid programs. One of the most popular types of student financial aid is the student grant or educational grant.
Educational grants do not have to be repaid. There are two kinds of federal student grant programs: Pell Grants, occasionally called Basic Educational Opportunity Grants, which are need based, and Federal Supplemental Opportunity Grants (FSEOG), which are based on extraordinary need. The federal government has determined a formula which yields a number called an EFC, or Expected Family Contribution. This number is used to determine eligibility for both varieties of grants and the amount of grant money to be dispersed.
A Pell Grant is a primary source of financial aid, and students receiving them may be considered for other federal and non federal assistance as well. Pell Grants are paid out at least once per term and can be as much as $4310 annually (effective July, 2007), depending on a student's EFC, cost of tuition, and whether the student attends school half-time or full-time. The US Department of Education guarantees that participating schools will receive sufficient funding to give Pell Grants to all eligible students.
An FSEOG, as the name implies, is meant to supplement other forms of financial assistance. In contrast with Pell Grants, FSEOG's are not guaranteed for all eligible students. This type of grant is based on availability at each individual school, and once the money is depleted, no more grants are awarded. Once again, eligibility is determined using the Expected Family Contribution, with lower EFC's taking precedence over higher ones. Like Pell Grants, FSEOG money is paid at least at least once per term and can either be deposited directly into one's bank account or paid directly to the student by the school's financial aid office, normally by check.
The president has proposed raising the maximum Pell Grant award to $4600 annually by the year 2009, which would be the largest increase in thirty years. While this plan would help students eligible for Pell Grants to keep up with rising tuition costs, it could hurt students with the lowest EFC's. The president's proposal calls for the elimination of FSEOG's to offset the increase in Pell Grant award money. Ultimately, low EFC students would receive more money from the plan which would be implemented in increments of $200 per year, but the neediest students could see their federal assistance reduced initially.
Whatever the proposed changes to federal student grant policy, grants will continue to level the playing field for needy students who would otherwise be forced to work full-time while attending school, and possibly accumulate excessive student loan debt. If you think you might be eligible for educational assistance in the form of a student grant, contact the financial aid office at your school. College is expensive, but it is much more affordable if you take advantage of federal student grants.
Article Source: http://www.ApprovedArticles.com
Government Grant Money For College Students
By: Gregg Pennington
Gregg Pennington writes articles on a number of topics including government grants and student loan consolidation.
Friday, June 6, 2008
Bush administration realizes it doesn’t have authority to fix student loans
In an unsual admission for this administration (just talking factual here, nothing else implied), the Bush administration admitted it doesn’t have the authority to fix the student loan crisis, and that Congress must fix it.
Here is an excerpt from the Chronicle of Higher Education. You may need a paid subscription to view the entire artcile.
The Bush administration called off internal deliberations over a bailout plan for student-loan companies
after concluding it did not have the authority to act on its own, instead endorsing a Congressional
proposal that would allow the education secretary to purchase loans from private lenders.
Education Secretary Margaret Spellings, after weeks of discussions within the administration, joined her
colleagues at the White House and Treasury Department in telling Congress that they see no legal option
for putting in place an industry-backed proposal to use the Federal Financing Bank to supply funds to
cash-strapped student-loan companies.
…
The decision leaves Congress facing a ticking clock for solving a student-loan “crisis” that some
legislators aren’t sure yet exists. The members are also caught between industry lobbyists who feel the
authority proposed for the education secretary may offer them little real help and student-aid advocates
worried about setting a framework that might enable abuses.
The proposed authority for the education secretary appears to offer lenders nothing more than funds to
cover the cost of writing their loans, said Sameer Gokhale, an industry analyst with Keefe, Bruyette &
Woods. “That’s not really a viable option for many lenders,” meaning they might not continue to
participate in the government-subsidized system, Mr. Gokhale said.
At the same time, some student-aid lobbyists have expressed concern that the plans under consideration
in Congress, especially the version pending in the Senate (S 2815), contains enough loopholes and uncertainties that loan companies could profit by dumping only their lowest-value loans on the federal
government and keeping the more-profitable loans for themselves.
…
Congress faces a difficult challenge writing a plan that will be fair to all sides and doing it quickly
enough - within a few weeks - to make a meaningful difference for college students who might
encounter problems finding a willing lender for this coming academic year, said Terry W. Hartle, senior
vice president for government and public affairs at the American Council on Education.
Bush signs student loan bill
The President signed the bill this afternoon. Here are some aspects that might affect you:
Stafford Loans:
Changes apply to loans disbursed on or after July 1, 2008
It raises annual borrowing limit for unsubsidized Stafford loans for dependent undergraduate students (or students whose parents can’t obtain federal parent loans because of poor credit) by $2,000 to $6,000 for 1st year& 2nd year, and to $7,000 for 3rd, 4th and beyond.
It increases the aggregate amount an undergraduate dependent student may borrow under the unsubsidized Stafford loan program to $31,000.
It increases the annual borrowing limit for unsubsidized Stafford loans for independent undergraduate first and second year students (or students whose parents can’t obtain federal parent loans because of poor credit) by $2,000 to $6,000
It increases the maximum annual amount for undergraduate independent students who have completed two years of study also by $2000 to $7000.
It increases the aggregate amount of unsubsidized Stafford loans for an undergraduate independent student to $57,500.
It provides for a period of deferment until 6 months after the child on a PLUS loan drops below half time or graduates.
There are several other provisions I won’t get into here, such as Lender-of-Last-Resort and creating an artificial secondary market for student loans at the taxpayers’ expense.
Pell Grant Student Loan Consolidation
Consolidate today and reduce your monthly payment by as much as 53%. Lock in interest rates and protect yourself from future increases.
Pell Grant Application student loan consolidation is a practical repayment management option that enables you to bundle all of the federal direct student loans you received to finance your college education into a single loan.
Requirements for Pell Grant Application Consolidation
Minimum amount outstanding of $20,000 in Federal loans
No federal loans in default or serious delinquency
Must be graduated or below half time enrollment
Benefits of Pell Grant Application Student Loan Consolidation
Reduce your monthly payment by as much as 53%
Apply now and lock in a lower rate for the life of the loan.
Make one loan payment a month.
Improve your credit rating!
Match your repayment plan and term to your financial situation.
Applying for your loan with us is easy, and
There are no fees, credit checks, application or origination charges associated with your application!
Pell Grant Application consolidation can significantly reduce your monthly payment burden. That's because Pell Grant Application student loan consolidation allows you to stretch your repayment period from the standard 10 years to up to 30 years, depending on the amount of your education debts. The lower payment means you'll have more money available to meet other household expenses, including car payments, childcare, and career-related necessities.
Source : http://www.studentloanconsolidator.com/student-loan-consolidation/pELL-Grant-application/
Universities of Denmark,Study Abroad in Denmark
Aalborg Business College
Aalborg University
Aarhus school of Business
Copenhagen Business School
University of Southern Denmark
Roskilde University
Royal Danish School of Pharmacy
Royal Veterinary and Agricultural University
Technical University of Denmark
Aarhus University
University of Copenhagen
Foreign students may be admitted to Danish higher education either as guest students, international students or as regular students along with the Danish applicants.
Higher education comprises the university sector, which offers research based undergraduate and graduate programmes, as well as a parallel sector for professional bachelor and diploma programmes and more business oriented programmes. Most higher education institutions offer courses in English, and at graduate level several English programmes such as MBA and MPA programmes are available.
Furthermore a variety of long and short programmes related to specific subjects (e.g. the police academy) as well as a number of programmes offered by the private sector (like e.g. banking) are available. For these programmes a good knowledge of Danish is required.
As a starting point, you need a residence permit before arriving in Denmark. The Danish Immigration Service recommends that the application be handed in approx. 2-3 months before expected arrival.
The application should be sent to the Danish mission in the country you come from or have lived in for the last 3 months. Application forms can be obtained from the mission or from the Danish Ministry of Foreign Affairs website. If there is no Danish mission in the country in question, you can contact the mission of the Schengen country, which represents Denmark.
Universities in Belgium
Brussels University
Catholic University of Louvain
Faculté Polytechnique de Mons
Katholieke Universiteit Leuven
Limburgs Universitair Centrum
Royal Military Academy
Université Libre de Bruxelles
University of Antwerp
University of Ghent
University of Li?ge
University of Namur
Vesalius College (Vrije Universiteit Brussel)
Education
Higher education can be followed in economics, art, social-, paramedical-, technical-, agriculture- and pedagogical studies, etc. After two or three years, professional diplomas are awarded to the successful students.
Higher education
comprises university and non-university education (Hogescholen); transfer from one type to another is possible. Entrance examinations exist only for Civil Engineering, Civil Engineering -Architecture, Dental Sciences, Medical Sciences, Nautical Sciences and Fine Arts. Higher non-university education offers both short-term (one cycle), three-year study courses and long-term (two-cycle) four-to five-year study courses of academic level. There are 29 hogescholen and 6 universities. University education takes four, five, six or seven years, depending on the discipline. In addition, hogescholen and universities offer postgraduate (advanced, supplementary or specialized) training programmes.
SRCOSTEP: Senior Commissioned Officer Student Training and Extern Program
Senior Commissioned Officer Student Training and Extern Program
SRCOSTEP training and extern positions are available to individuals
who are enrolled as full-time students in certain accredited programs
with
* at least 8 months of educational commitment remaining in the
final year and who meet other program requirements.
Current selection priorities are directed toward students in the
following disciplines:
* dentistry,
* nursing,
* pharmacy,
* engineering, and
* physical and occupational therapy.
In return for financial assistance, SRCOSTEP participants agree to
work for the Commissioned Corps after graduation. The service
obligation is equal to twice the time sponsored; that is, for 9 months
of financial support, a SRCOSTEP participant commits to 18 months of
employment with the division or organization that provided the
support.
JRCOSTEP: Junior Commissioned Officer Student Training and Extern Program
Junior Commissioned Officer Student Training and Extern Program
.S. Public Health Service Commissioned Corps
To be eligible for JRCOSTEP, you must:
* Have completed
o at least 1 year of study in medical, dental, or veterinary
school;
o at least 2 years of study in a professionally accredited
baccalaureate program in one of the following disciplines:
+ dietetics,
+ engineering,
+ medical record administration,
+ physician assistant training,
+ nursing,
+ pharmacy,
+ sanitary science,
+ computer science,
+ dental hygiene,
+ medical laboratory technology, or
+ therapy (e.g., occupational, physical, speech-
language pathology, or audiology);
o or be enrolled in a master's degree or doctoral program in
a health-related field.
* Return to college or to a post-graduate training program in a
commissionable profession immediately following participation in
JRCOSTEP.
* Be enrolled full time in a program of study accredited by an
acceptable accrediting body.
* Be free of any obligation or responsibility that would conflict
with your ability to serve in the Corps, such as membership in or a
service obligation to another uniformed service (Indian Health Service
scholarship recipients may participate in JRCOSTEP).
* Qualify for appointment in the Commissioned Corps. A successful
applicant must:
o Be a U.S. citizen
o Be younger than 44 years of age
o Meet the medical requirements
Thursday, June 5, 2008
Student Loan Xpress Closes; Is Sallie Mae Leaving the Federal student loan program?
According to the San Diego Business Journal, CIT has closed down it’s student lending company Student Loan Xpress.
Also, there are rumors swirling around that Sallie Mae may drop out of the FFELP lending program, leaving millions of students in the lurch.
The Chronicle of Higher Education is reporting that executives at Sallie Mae are eagerly waiting new lender rules from the Department of Education which are expected to be unfavorable to lenders. They report that:
“Sallie Mae executives, including the company’s president, C.E. Andrews, and chief executive, Albert L. Lord, have scheduled a conference call with colleges for Wednesday to discuss “critical information” about the lender’s participation in the federally guaranteed student-loan program, according to a company announcement.
Sallie Mae officials have not explicitly described any plan to stop issuing government-backed federal loans, though several officials involved in student lending who asked not to be identified by name because of the uncertainty, highly fluid nature, and huge stakes involved —have described company officials as promising to take that step if the Education Department offers terms they deem inadequate today. Sallie Mae officials declined to comment on the record.”
Wednesday, June 4, 2008
What Is A Home Equity Loan ?
A home equity loan, also known as a second mortgage, lets homeowners borrow money by leveraging the equity in their homes. Home-equity loans exploded in popularity in 1996 as they provided a way for consumers to somewhat circumvent that year's tax changes, which eliminated deductions for the interest on most consumer purchases. With a home-equity loan, homeowners can borrow up to $100,000 and still deduct all of the interest when they file their tax returns. Here we go over how these loans work and how they may pose both benefits and pitfalls.
Two Types of Home-Equity Loans Home equity loans come in two varieties - fixed-rate loans and lines of credit - and both types are available with terms that generally range from five to 15 years. Another similarity is that both types of loans must be repaid in full if the home on which they are borrowed is sold.
Fixed-Rate Loans
Fixed-rate loan provide a single, lump-sum payment to the borrower, which is repaid over a set period of time at an agreed-upon interest rate. The payment and interest rate remain the same over the lifetime of the loan.
Home-Equity Line of Credit
A home-equity line of credit (HELOC) is a variable-rate loan that works much like a credit card and, in fact, sometimes comes with one. Borrowers are pre-approved for a certain spending limit and can withdraw money when they need it via a credit card or special checks. Monthly payments vary based on the amount of money borrowed and the current interest rate. Like fixed-rate loans, the HELOC has a set term. When the end of the term is reached, the outstanding loan amount must be repaid in full.
Benefits for Consumers Home-equity loans provide an easy source of cash. The interest rate on a home-equity loan - although higher than that of a first mortgage - is much lower than on credit cards and other consumer loans. As such, the number-one reason consumers borrow against the value of their homes via a fixed-rate home equity loan is to pay off credit card balances (according to bankrate.com). Interest paid on a home-equity loan is also tax deductible, as we noted earlier. So, by consolidating debt with the home-equity loan, consumers get a single payment, a lower interest rate and tax benefits.
Benefits for Lenders Home-equity loans are a dream come true for a lender, who, after earning interest and fees on the borrower's initial mortgage, earns even more interest and fees. If the borrower defaults, the lender gets to keep all the money earned on the initial mortgage and all the money earned on the home-equity loan; plus the lender gets to repossess the property, sell it again and restart the cycle with the next borrower. From a business-model perspective, it's tough to think of a more attractive arrangement.
The Right Way to Use a Home-Equity Loan Home-equity loans can be valuable tools for responsible borrowers. If you have a steady, reliable source of income and know that you will be able to repay the loan, its low interest rate and tax deductibility of paid interest makes it a sensible alternative. Fixed-rate home-equity loans can help cover the cost of a single, large purchase, such a new roof on your home or an unexpected medical bill. And the HELOC provides a convenient way to cover short-term, recurring costs, such as the quarterly tuition for a four-year degree at a college.
Recognizing Pitfalls The main pitfall associated with home-equity loans is that they sometimes seem to be an easy solution for a borrower who may have fallen into a perpetual cycle of spending, borrowing, spending and sinking deeper into debt. Unfortunately, this scenario is so common the lenders have a term for it: reloading, which is basically the habit of taking a loan in order to pay off existing debt and free up additional credit, which the borrower then uses to make additional purchases.
Reloading leads to a spiraling cycle of debt that often convinces borrowers to turn to home-equity loans offering an amount worth 125% of the equity in the borrower's house. This type of loan often comes with higher fees because, as the borrower has taken out more money than the house is worth, the loan is not secured by collateral. Furthermore, the interest paid on the portion of the loan that is above the value of the home is not tax deductible.
If you are contemplating a loan that is worth more than your home, it might be time for a reality check. Were you unable to live within your means when you owed only 100% of the value of your home? If so, it will likely be unrealistic to expect that you'll be better off when you increase your debt by 25%, plus interest and fees. This could become a slippery slope to bankruptcy.
Another pitfall may arise when homeowners take out a home-equity loan to finance home improvements. While remodeling the kitchen or bathroom generally adds value to a house, improvements such as a swimming pool may be worth more in the eyes of the homeowner than the market determining the resale value. If you're going into debt to make cosmetic changes to your house, try to determine whether the changes add enough value to cover their costs.
Paying for a child's college education is another popular reason for taking out home-equity loans. If, however, the borrowers are nearing retirement, they do need to determine how the loan may affect their ability to accomplish their goals. It may be wise for near-retirement borrowers to seek out other options with their children.
Should You Tap the Equity in Your Home? Food, clothing and shelter are life's basic necessities, but only shelter can be leveraged for cash. Despite the risk involved, it is easy to be tempted into using home equity to splurge on expensive luxuries. To avoid the pitfalls of reloading, conduct a careful review of your financial situation before you borrow against your home. Make sure that you understand the terms of the loan and have the means to make the payments without compromising other bills and comfortably repay the debt on or before its due date.
The Home-Equity Loan: What It Is And How It Works
by Jim McWhinney
Federal student loans Interest Rates change July 1, 2008
Federal student loans Interest Rates changed
According to US Dept. of Education, here are the interest rates for loans disbursed on or after July 1, 2008:
Subsidized Stafford Loan (Undergraduate Students) - 6.0%
Subsidized Stafford Loan (Graduate Students) - 6.8%
Unsubsidized Stafford Loan - 6.8%
FFELP PLUS Loan - 8.5%
Direct Loan PLUS Loan - 7.9%
And for those of you with loans disbursed prior to Jul y 1, 2006 here are your new variable rates:
Stafford Loans that are in-school, in deferment or in a grace period - 3.61%
Stafford Loans in repayment or forbearance - 4.21%
PLUS Loans - 5.01%
Consolidating student loans lower rate gets tougher
When college alumni show up for homecoming weekend and hold forth about how much better things were when they were in school, it's usually the beer talking. But graduates who boast about the great deals they got on their federal student loans probably aren't exaggerating. As recently as three years ago, savvy borrowers who consolidated their loans were able to lock in rates as low as 2.88%.
In late 2005, though, Congress set a fixed rate of 6.8% for Stafford loans, the most popular kind of federal student loans. If you have federal loans issued after July 1, 2006, consolidating will no longer affect the interest you pay.
That doesn't mean the benefits of loan consolidation have completely disappeared. If you're graduating this spring, you may still have loans issued before July 1, 2006. Consolidating those loans, which still carry a variable rate, would enable you to lock in a rate below 4% for the life of those loans, says Mark Kantrowitz, publisher of FinAid, a financial aid website.
But snagging that low rate won't be easy. Among the challenges:
•Timing your consolidation. To take advantage of falling rates, you must wait till July to consolidate your loans. Rates for variable student loans are adjusted every July 1, based on the rate for Treasury bills at the last auction in May.
FIND MORE STORIES IN: Congress | Federal Reserve | Treasury | Your Money | Stafford | Timing | FinAid | Kevin Walker
Kantrowitz predicts that the rate for variable-rate loans will drop to about 3.75% on July 1, down from the current variable rate of 6.62%. If the Federal Reserve decides to cut short-term rates at its meeting Wednesday, he says, the rate for variable loans could fall even further on July 1.
Graduates who consolidate during their grace period — the six-month window before they have to start repaying their loans — could lock in a rate of about 3.12%, Kantrowitz says.
•Finding a lender. In the past, lenders battled for consolidation loans, offering borrowers discounts and other perks. Now, those perks are gone, along with most of the loan consolidators. A handful of lenders still offer loan consolidation, but Kantrowitz predicts they'll all leave the business before July 1.
The credit crunch and a reduction in federal subsidies for student lenders have made those loans unprofitable, he says. "Every time a lender makes one of these loans, it's taking a loss."
Fortunately, borrowers who can't find a private consolidator can consolidate through the government's Federal Direct Loan Program.
There are two types of federal student loans. One type, Federal Family Education Loans, is offered by private lenders and guaranteed by the government. The other: Federal Direct student loans, which the government offers directly to students at schools that take part in the direct lending program.
Even if your loans come through the FFEL program, you can consolidate them through the Federal Direct Loan Program, Kantrowitz says. You can find more information at www.loanconsolidation.ed.gov.
In the loan pool
Though you can include your fixed-rate loans when you consolidate, there's no financial benefit to doing so, Kantrowitz says. The rate for your consolidation loan is based on the weighted average of all the loans you consolidate, rounded up to the nearest one-eighth of 1%. Which means you can't lower the rate on your higher-interest loans by including them in the loan consolidation.
If all your loans carry fixed rates, there's no benefit to consolidating them, either. Consolidating fixed-rate loans will actually raise the rate slightly, to about 6.88%, Kantrowitz says. If you're looking to lower your monthly payments by extending the repayment term, consult your lender. You may be able to negotiate an extended repayment plan without consolidating your loan, Kantrowitz says.
One other thing to keep in mind: Because borrowing limits on federal loans haven't kept up with tuition inflation, students are increasingly turning to private loans to cover their college costs. Be aware that these loans typically carry variable rates, aren't guaranteed by the government and can't be included when you consolidate your federal student loans.
Some private lenders let borrowers consolidate their private loans and lock in a fixed rate. But the fixed rate is often 1 or 2 percentage points higher than current variable rates, Kantrowitz says.
In addition, some private consolidation loans impose prepayment penalties and other fees that could add to the cost of the loan, says Kevin Walker, CEO of SimpleTuition, a website that lets borrowers compare rates for student loans.
"If I were a borrower, I would be skeptical," he says. "I would lean toward not consolidating my private loans."
Consolidating student loans at a lower rate gets tougher
by Sandra Block
Sandra Block covers personal finance for USA TODAY. Her Your Money column appears Tuesdays
Student Loans : Who Can you Trust?
If you're a parent or student plotting a strategy to pay college tuition, add one more worry to your list. Recent reports indicate that there have been unethical arrangements quietly occurring between lenders and universities. The unfortunate news has college families asking, "Who can you trust?"
Student loans have given many high school graduates the opportunity to pursue a higher education and better life. According to recent media reports, however, these loans have also been providing university officials across the country with a better life-one that's financed by kickbacks and revenue sharing. Students and parents must learn how to protect themselves when it comes to getting financial aid.
Preferred lender problem
The main crux of the problem is the "preferred lender" lists that colleges provide to their students. Because there are so many private lenders vying for loans in the huge college market, many financial institutions offer lower rates and revenue-sharing deals to any college that includes them on the preferred lender list.
Many schools take the money and return it to students in the form of financial aid. But there are accusations that financial aid directors at several schools have received some rather questionable consulting fees. There are also reports of lenders offering paid trips in return for high placement on this list.
Politicians to the rescue?
Politicians have been quick to offer solutions to this problem, proposing a variety of fixes and new programs. Some include cutting the interest subsidies that the federal government currently pays to lenders. Others encourage schools to do the private lending themselves. Overall, there has been a call for tighter scrutiny of these programs, which school officials fear may inhibit their desire to broker better deals.
Take matters into your own hands
The best line of defense is for students and parents to protect themselves. To do this, they'll have to do something that students are quite familiar with: homework. First, compare the programs of anyone on the preferred lender list with lenders who aren't on the list. Don't assume that the best rates will only come from the former.
Next, pick up as much information on shopping for student loans as you can. Tap into the Internet and scour up anything and everything you can find.
Finally, carefully read through and understand the loan agreement. If the financial language proves too difficult, find a family friend or lawyer who understands the fine print and can give you some advice.
For prospective college students, the recent announcement of the cozy relationship between lenders and colleges serves as a life lesson: When it comes to financial matters, don't blindly trust anyone. Do your own research, and understand the financial transaction you're entering into. Ultimately, this whole controversy serves as a perfect example of why it pays to do your homework.
Student Loans: Who Can you Trust?
By: MortgageLoan.com | May 01, 2007
The Financing A Graduate School Education
Did you go straight into the workforce right after throwing your undergraduate mortarboard in the air? If so, it's likely that many of your coworkers with graduate degrees make a lot more money than you do. According to the latest U.S. Census, workers with advanced degrees earn about $25,000 more annually than those who have only an undergrad diploma.
Never fear, for you can afford to close that earnings gap. There are many ways to finance grad school studies, even after taking a break for a few years.
Ask for help
The best option, of course, is a full-ride scholarship, fellowship, or academic grant. Talk to your school's financial aid department, the graduate department that you intend to enter, and any professional organizations in your chosen field. There are also plenty of online search tools for free scholarship money.
Whatever you do, don't forget to fill out the Free Application for Federal Student Aid (FAFSA) form. This will be used to determine your eligibility for almost every kind of financial aid, starting with scholarships and grants. And if your own savings and "free ride" money won't cover your costs, it's also the basis for your student loan application.
Good debt
While debt of any kind is never a great idea, federal student loans are some of the least onerous debt instruments you'll ever see. Need-based Perkins loans come with a fixed annual interest rate of just 5 percent, no loan fees, and very generous repayment terms. The first payment is due nine months after graduation.
The grace period on Stafford loans is six months, and the interest rate is currently fixed at 6.8 percent. There are also origination and default fees on these loans, currently up to 2.5 percent of the loan amount. These plans come in two flavors: subsidized, a need-based program where interest doesn't start to accrue until your repayments start; and unsubsidized, where you don't have to demonstrate need, but the interest balance starts to rack up when you take the first disbursement.
There are also special Grad PLUS loans, just for graduate students, in case you max out your Perkins and Stafford eligibility. To gain it, you need a clean credit history, and the origination fee is often as high as 3 percent. Once again, the interest rate is higher, but still probably more affordable than drawing cash from your home equity or taking an unsecured private loan. And if you qualify for a Grad PLUS loan, it will cover whatever tuition, supplies, room and board, and travel expenses your other financial aid packages don't.
Invest in your future
Grad school can be expensive, but you'll earn that money back in no time with the higher salaries an advanced degree commands. And that's not all: you get to satisfy your curiosity and intellectual goals, boosting your confidence and self-worth. Be all that you can be-but not necessarily in the army.
Financing A Graduate School Education
By: Anders Bylund
http://www.mortgageloan.com/financing-a-graduate-school-education-1871
Need Fast And Easy Private Student Loans For Bad Credit?
When it comes to finding fast and easy private student loans for bad credit, the market has opened up considerably.
In the past, there were few options for those with bad credit, and most of those options had the individual trying to better his or her credit in order to receive a loan that was still wracked with steep fees and high interest rates.
The time needed to better ones credit often caused a student to postpone his or her education, thus prolonging the entire goal of receiving higher education. However, a great deal of changes have come into effect that benefit students looking for fast and easy private student loans for bad credit, so know that there are a variety of options available to allow anyone with the interest to receive his or her degree.
* First, it is important to remember that not all fast and easy private student loans for bad credit are created equal.
There are many loan companies out there that make great promises but fail to deliver anything but costly fees. If you are interested in a private student loans, then you must first do your homework regarding the loan in question and the specific lending company.
Many popular banks offer fantastic options for anyone with less than perfect credit so that you can rest assured that your loan is coming from a legitimate and reputable organization.
Yet, you should be sure not to be star struck with a big-name bank, since there may be other options with smaller lending companies that are actually better for your specific situation.
Additionally, whatever the name of the lending company, you should strive to research the specific organization before you agree to any terms or conditions to ensure that the lending company and the loan are completely legitimate.
* Second, be sure to read the fine print attached to any loan that you sign. Most of the fine print may be difficult to read or written in a confusing manner, but be sure not to sign on the dotted line until you understand each and every aspect of the loan in question.
There are many clauses and loopholes involved in the fine print that could see you paying large fines or heavy penalties if the terms are not seen through exactly.
For example, if a single payment is late, the lending company may reserve the right to charge you excessively high late charges and send the interest rate through the roof. By knowing all the terms and conditions to which you are signing, you are protecting both yourself and your hard earned cash from superfluous charges or fees at the end of the day.
* Third, consider turning to the World Wide Web when it comes to finding a lending organization for your private student loan.
There are many websites devoted to student loans and can provide you with a wealth of information. Additionally, there are many internet-based lending organizations that can offer you better rates due to low overhead associated with operating in cyberspace.
Be careful that you carefully research any internet-based lending company since there are a great deal of scam agencies that operate in cyberspace.
This prevalence of scams online is unfortunate, but there are many legitimate lending agencies that operate on the internet that can provide you with excellent terms and conditions of your loan regardless of your credit.
If you are interested in a specific loan organization, consider completing an internet search using the companys name in order to determine whether or not they have any negative feedback or complaints lodged against them by previous customers.
The Better Business Bureau is also a tremendous tool for anyone searching for a specific lending agency.
Need Fast And Easy Private Student Loans For Bad Credit?
By Mike Herman
Article Source: http://EzineArticles.com/?expert=Mike_Herman
Student Loans Easy Financial Assistance for Higher Education
Education is an important tool and essential for the overall growth of the individual. Each year a lot of students throng the corridors of colleges and universities seeking admission in the various streams. But the high fee structure and the over all costs have compelled these students to consider other options. However there are certain ways through which the students can pursue their education. To help these students various banks and lending agencies have come up with Student Loans. These loans are meant especially to assist students meet various cost pertaining to their education.
These loans are very different from other loans available in the financial market at present. The terms and conditions are designed to suit the financial condition of the applicant. There is no need to repay the loan amount until and unless, the applicant has completed the course and got a suitable job. In most cases, the borrower starts making payments after six months of completing the course. If the borrower pays the interest rate while undertaking the course, it will drastically reduce the debt burden.
The borrower is free to utilize the loan amount obtained. It can be used for paying college education fees, library dues, purchasing books and other tools and equipments, personal expenses etc. Before availing these loans, it would be prudent to evaluate the overall expenses. This way the borrowers will have a fair idea of the amount required which needs to be availed.
These education loans are made available to the borrowers in secured and unsecured form. The secured form of the loans are collateral based and offer a bigger amount. The interest rates too are comparatively low. On the other hand, unsecured option of the loans can be acquired without any collateral. However, the borrower has to pay a slightly high rate of interest on the borrowed amount.
The loans are offered by most of the lenders. Students can seek assistance from government and private lenders as well. To save time and effort borrower can also seek the loans from online lenders. It is simple and helps the borrowers to obtain the best deal from the available options.
The most important phase in any student’s life is the education. And student loan is just meant for those students who lack the finances to meet their costs on education.
Student Loans Easy Financial Assistance for Higher Education
Author: Julia Russell
A Better Idea for College Loans
One of my former students who graduates from business school next week has already landed a job with a private-equity firm paying $240,000 next year, which I can tell you is a lot more than the salary of his former professor who’s at least three decades older. My student tells me with a smile that he’ll be able to pay off his student debt way ahead of schedule. But that’s not his real reason for taking the private-equity job. He wants to make gobs of money.
On the other hand, several of my students who will graduate next week tell me they would have liked to go into social work or into the non-profit sector or provide legal services to the poor. One had his heart set on becoming a painter. Another became passionate about archeology and had wanted to go on a dig in the Sahara. But they can’t do any of these things because they have tens of thousands of dollars of debt. They need jobs that pay the rent while they repay their loans.
When they begin their university studies and take out college loans, most students don’t know exactly where their interests lie. That’s what college is all about -- discovering what you want to do with your life. But America’s increasing reliance on student loans to pay for higher education is directing millions of young people away from what they really want to do -- from careers that could contribute a great deal to their communities and to the nation as a whole, but don’t get them out from under their college loans.
So here’s an idea that might allow more students to pursue their real interests when they graduate: Make repayment of government-subsidized loans depend on how much money they earn. Say that everyone has to pay ten percent of their income for the first ten years of their full-time work. And then the loans are considered paid off.
My student who’s landed that private-equity job would pay ten percent of his income for ten years, which would be a hefty sum. My students who go into social work or become artists would pay ten percent of theirs, which would be far less. The private-equity guy would in effect subsidize the social worker and artist. And why not? This way all of them can follow their callings.
This column is adapted from Professor Reich's weekly commentary on American Public Radio's Marketplace.
Why use a home equity loan?
Many people take advantage of this financial instrument for renovations or the purchase of a car. Because it is secured to a house - for most people, the largest asset they'll ever possess - this type of loan allows for a longer amortization. The typical car loan is amortized for a maximum of seven years; with a home equity loan, you can amortize it up to 25 years. You can make smaller payments over an extended period, but that also means you'll incur more interest.
After 25 years, you're obliged to renegotiate your loan. But there's nothing stopping you from reapplying sooner. If you got a $50,000 home equity loan five years ago and in the interim repaid $30,000 of it, you can apply to be bumped back up to the $50,000 plateau, but at more current rates (which can be good or bad, depending on the economy).
How Home Equity Loans Work
home can be a source of great pride and satisfaction, and if you're looking to finance a renovation, a new vehicle or some unforeseen emergency, it can also be a source of equity. A home equity loan allows you to leverage your property's equity - i.e. the difference between the home's appraised market value and your outstanding mortgage balance - to secure a loan.
Why do people opt for home equity loans? Simply put: the interest is lower. Credit card rates currently hover around 17 percent. A home equity loan or line of credit, on the other hand, can range from the prime business rate set by the Bank of Canada, known simply as "prime" (currently 4.25 percent), to prime-plus-three (which would be 7.25 percent). The rate for a home equity loan is often better than that for a personal line of credit. The rate you get will depend on your credit history, your earnings and whether you have existing assets with a particular lending institution.
Home equity loan vs. home equity line of credit
The difference between a home equity loan and a home equity line of credit is that with a loan, once you've used a percentage of the loan, you won't be able to access it again. For example, if you took out a $5,000 loan to fund a vacation, whether you've repaid a fraction or the entire sum, you have to re-apply to get another loan. With a home equity line of credit, once you've used it, you can spend as much as you've paid back. If you used $8,000 and repaid $5,000, you have access again to $5,000.
Given the reduced interest, many people use a home equity loan to consolidate their debts. They utilize it to settle their other arrears (credit cards and lines of credit) and combine their entire debt load and refinance it at one reasonably low interest rate.
The home equity loan or line of credit must be tied to your principal residence; banks don't normally secure such loans to rental properties. The loan is generally repaid in monthly installments, and must be entirely settled when you move out of the house.
Tuesday, June 3, 2008
Same Day Bad Credit Loans - Fight The Crisis
Many people do not want to take tension of long time payment of loans and many people just want small amount of loan for there need and dreams. People having bad credit in market, for them getting loans from UK market is very difficult. So to solve the problem of those types of people, they can opt for same day bad credit loans.
A person can have a bad credit in the market for many reasons like declaration of bankruptcy, arrears, CCJ's or late payments in previously taken debts. In all the cases listed above can earn you credit score below 620 and you will be seen as a potentially high risky borrower. But bad credit loans will help you to get the money at reasonable rate.
Know the loan better:
As the title suggest it means that these loans are made specially for bad credit holders for whom getting loans is quit problematic. And it is a same day loans it means you can have loan money in your account in a single day but loan amount will not be very large, it will be around 1500 pound and you have to return this amount back to lender in 2 to 4 week and mind it do not delay in returning the loan back because you are a bad credit holder so you may have to pay severe penalty but if you will return on time it will improve your credit. Since this is a same day loans so the rate will quit high since generally no collateral are required but if you are giving any collateral then the rate will be little bit lower.
Places to apply:
These loans are generally found in world wide web so just sit in front of computer with internet and search Same day bad credit loans and you will have number of option ,select any one fill the form and submit online and within 24 hours will have loan money in your account.
The Latest Twist in Student Loans
Because of the credit crunch, conventional lenders are making it tough for any but the most creditworthy borrowers to qualify for private college loans. Now, a new breed of student lender is trying to get students to return the snub -- by writing off the Sallie Maes and Citibanks of the world in favor of relying on friends, family, and even perfect strangers to finance their college loans. "It's not a solution to the credit crisis in student loans by any means," says Mark Kantrowitz, publisher of financial aid Web site finaid.org. "But the idea of using peer networks to raise money is intriguing."
In recent months, peer-to-peer lending sites (BusinessWeek, 4/23/08) such as Prosper and Virgin Money USA have introduced student loans or started marketing existing offerings to families looking for college funds. Others, including startups GreenNote and Fynanz, are focused exclusively on making college loans. Analysts say the sites are benefiting from the confluence of trends -- a growing acceptance of peer-to-peer lending and fallout from the credit crunch, which has caused lenders who account for more than 20% of the market for private student loans to stop lending.
The general idea is to facilitate loans between students, on the one hand, and either Good Samaritan friends and relatives, or strangers intent on investing in alternatives to stocks, bonds, and certificates of deposit. The sites take very different approaches, though. Some, such as Virgin and GreenNote, mainly seek to formalize loans between friends and family members. Others -- Prosper among them -- allow borrowers to publicize the amounts they wish to raise and the interest rates they're willing to pay. Then, lenders -- friends or strangers -- bid on funding even a small portion of these loans. As the competition among bidders intensifies for a piece of a loan, the interest rate a student will have to pay declines.
A Win-Win Setup
It sounds like a great idea. For individual lenders, the loans are promoted as a way to earn a decent rate of return while helping a student in need. For borrowers, the allure is the prospect of securing an interest rate that's lower than the 6% to 16% that conventional lenders charge for private loans. (Interest rates on private loans depend mainly on credit scores.) "The idea that you can get people bidding down the interest rate on your student loan is certainly attractive," says Kantrowitz.
There are also plenty of potential drawbacks. For lenders, the risks are difficult to gauge. Indeed, many peer-to-peer sites say it's too soon to know what percentage of borrowers will ultimately default on their loans. While lenders can reduce the risk of a loss by carefully vetting borrowers, lending in small doses, and spreading their money among several borrowers, a loan portfolio with an average interest rate of 10% will net just 7.5% if 10% of borrowers default, says Kantrowitz. That's not unrealistic, given that 11.5% of Sallie Mae's private loans were delinquent in 2007. Some sites, including Fynanz and Zopa, offer lenders some degree of protection against losses. The trade-off, though, is lower returns.
For borrowers, the big question is whether the sites will help make loans more plentiful. Currently, most peer-to-peer lenders report low lending volumes. At Prosper, for example, only 2% of the $150 million in loans arranged so far are for education. Moreover, the terms on some of these loans may prove unattractive. Some lenders, for example, require students to repay loans over relatively short periods. Not all of them will grant postponements until after graduation. Moreover, the fees on these loans can be high. And because there's no guarantee of landing an attractive interest rate, it's important, as always, to shop around.
Before borrowing from any of these sites, be sure to exhaust the amounts available under federally backed loan programs. With a maximum fixed interest rate of 6.8%, the Stafford Loan for students is almost always less expensive than a private loan. The downside: These loans limit undergraduates to a cumulative amount. But families can borrow more -- up to the full cost of attendance -- under the federal PLUS Loan program for parents. The current rate on a PLUS loan: a fixed 8.5%.
Here's a quick read on the various players in the market for peer-to-peer student lending:
Prosper: The site (prosper.com) fits students into its one-size-fits-all loan program -- a three-year loan that borrowers must start repaying immediately. The site models itself after eBay (NasdaqGS:EBAY - News). Borrowers allow Prosper to pull their credit reports, verify their enrollment status, and assign them a risk measure that alerts lenders to the potential risk of default. The lenders bid on slices of the loan, with those willing to earn less interest driving down the rate on the loan. The site makes money on fees. Borrowers pay 1% to 3% up front, depending on their credit score. Lenders pay a 1% servicing fee each year.
Virgin Money USA: This site (virginmoney.com) formalizes loan arrangements between friends and family. While some 11% of the $300 million in loans it has arranged have been used to fund education, it only recently launched a product, called Student Payback, that's specifically for students. President Asheesh Advani touts the loan's flexibility: Payments can be postponed until graduation, he says. And "every year, for no extra fee, borrowers and lenders can change the payment schedule." Negotiated between borrower and lender, the interest rates are typically about 4% or 5% -- or far below the 6.8% rate on federally backed Stafford Loans. A lender can sign over up to $24,000 a year without triggering a federal gift tax.
While many parents dig into their pockets to make loans, some take out home equity or Federal PLUS loans -- and use the site to formalize a student's pledge to repay those amounts. "Parents are more apprehensive about retirement now. This really provides them with peace of mind," says Advani. Still, peace of mind doesn't come cheap. Up-front fees on the loans range from $199 to $299, depending on whether a student borrows once or multiple times. When a student graduates and begins to repay a loan, Virgin pockets yet another $9 fee per payment to service the loan.
Fynanz: Launched in March, the site (fynanz.com) makes students loans in seven states, including New York, New Jersey, and Massachusetts. By early 2009, CEO Chirag Chaman expects it to go nationwide.
For lenders, Fynanz takes some of the risk out of making loans. It guarantees repayment of anywhere from 50 cents to 100 cents on the dollar. The guarantees rise with a borrower's credit. It also requires borrowers to obtain co-signers, who become responsible for repaying loans that default. The site is picky about whom it selects: Currently, it turns away about 12 applicants for every borrower it accepts, Chaman says. "Our job is to reduce default rates."
The site offers some benefits to borrowers. By summer, it will launch a product that will exempt college juniors and seniors with credit scores of at least 640 from the co-signer requirement. And it shaves 1% off a borrower's interest rate once 10% of the loan is repaid. The site sets rates -- which are variable and currently range from 5.6% to 10% -- at auction. It charges lenders 1% a year to service the loans. Borrowers, who pay from 2.9% to 6.9% of the loan amount up front, max out at $120,000 as undergrads.
GreenNote: Currently available to students at 12 colleges, this program will officially launch in early June. The site (greennote.com) doesn't plan to require students to line up a more creditworthy friend or relative to co-sign its promissory notes. Nor does it plan to check borrowers' credit scores. "It's a platform that allows students to tap into their social networks. This can be friends, family, alumni of the same school, or friends of friends," says founder and CEO Akash Agarwal.
The site collects and transfers the amounts lenders contribute to schools. Students can postpone repaying these loans until after graduation. The interest rate is low -- a fixed 6.8%, to conform to the maximum under the federal Stafford Loan program. "Lenders can choose to reduce or waive the interest at repayment, turning the loan into a gift," Agarwal says. GreenNote charges lenders a 1% documentation fee. Borrowers pay $49 or 2% of the loan, whichever is greater. The risk? If your network doesn't kick in all you need, you'll have to shop around for other loans.
Zopa: When a student or parent applies for a loan, the site (zopa.com) runs a credit check. Zopa charges no fees but interest rates can be high -- some 8.5% to 17%, depending on a borrower's credit score. Where's the peer-to-peer angle? Borrowers can ask friends and family to purchase one-year CDs from the site. Those who do are required to devote at least 0.10% of the current yield of 3.75% to helping a borrower meet his or her monthly payments. Because some CD holders are willing to part with far more than 0.10%, a borrower may see his or her monthly interest payments wiped out. A few even pocket enough to help pay down principal. As with other CDs, these are insured against losses. And when they mature, the principal is returned to the investor. The loans, which must be repaid over five years, are capped at $25,000. This summer, the company plans to launch a student loan product with a longer repayment term.
Source : http://news.yahoo.com/
When are Student Loans a Good Idea ?
Most students find their graduation day from a college or university to be ultimately fulfilling, as the day serves as a culmination to all the hard work and effort necessary to earn a degree. However, that feeling of self satisfaction soon fades as new alumni must deal with the repayment of their student loans. Many students find they dread their first loan payment more than the anxiety of entering the working world. But does a student have to borrow money from banks in order to finance his or her education? When are student loans a good idea?
Earning a degree is expensive. There is no way to candy coat that fact. Between tuition, room and board, books, and other necessary items, many students find themselves short of the final total. One way to save money when searching for a college education is to choose the institution wisely. Shop for an education the same way you would shop for a home or car. State-supported schools are less expensive than private institutions, and often the educational experience is exactly the same. There are many publications that make annual rankings of colleges according to their cost and the quality of education. Check to see if one of these institutions fits your needs.
Many students rely on parents, grandparents, or other individuals to help fund their education. Still in these cases, funds run short and loans need to be taken. Before you sign for a loan though, consider all other forms of financial assistance. Apply for scholarship programs or look into grants designated for students. Many organizations offer interest-free loans for students that quality. After you have made all the necessary calculations, think about the amount of money you will be able to put towards your education. Remember, just because you can receive a loan for the full amount of a college education does not necessarily mean you should. Money is easily borrowed, but is difficult to repay.
Higher education is a good idea, and if student loans enable you to earn a degree, then so be it. If entered into wisely, the bill at the end of the day will not be so daunting and you will be capable of repaying your debt.
http://educationseek.com/student_loans.html
Preparing for Finaid Applications
Preparing for Finaid Applications
by thumper1
I've noticed that there have been a number of questions about financial aid as this year's application process gets underway. I thought it might be good to have a thread with suggestions of things to do, and think about. I will start...and number my items. I would suggest that we cut and paste the ideas, thus creating a longer list. I know there are a LOT of you with great suggestions.
Preparing for Finaid Applications
1. First, have a discussion with your parents re: college finances. It is important to know what your family will consider contributing towards your college expenses BEFORE you apply to colleges.
2. Check the school websites. The deadlines and application forms requirements vary WILDLY from school to school.
3. Deadlines...Deadlines....Deadlines. Once you find out the deadlines, do not miss those dates. Have your information sent in advance of the deadline just in case there is a goof up and you need to resend something. If you don't apply on time, you jeopardize your chances of receiving finaid.
4. Make sure you have a financial safety in your mix of college applications. It is important to have a school that you would like to attend AND that you can afford to attend, regardless of financial aid.
5. IMPORTANT...If financial aid is a consideration...do NOT apply EARLY DECISION. Do NOT!! ED is a binding acceptance. When you apply ED, you are agreeing to attend the school if you are accepted. Don't assume that "not meeting your finaid" will easily release you from a binding ED acceptance. If you apply ED, you do not get the opportunity to compare financial aid packages from multiple schools. Yes, it is said that if the school does not meet your need, you can back out of an ED acceptance. BUT there are two things to remember....the SCHOOL determines your need, not your family. AND they can meet your need with loans as part of the package.
6. Keep good financial information for the tax year you will be using for your finaid applications. You may need to use this information to do estimated finaid application forms prior to when you complete your taxes.
7. Speaking of taxes...this is the year to complete your taxes (both you and your parents) ASAP after January 31 (which is when you should have all of your tax info..yes, I know the self employed have problems with this...but you self employed folks...do the best you can to get this done ASAP). This is NOT the year to do taxes on April 15.
8. The FAFSA is available online for filing on January 1 of the year your child is applying for finaid (e.g. Jan 1, 2008 for the 2008-09 school year). Plan to file very close to Jan 1 using accurate estimates using a "will file" status, meaning you will be filing your taxes for the 2007 tax year. Then complete your taxes ASAP after Jan 31, and you can amend the FAFSA online and resubmit indicating that you have filed.
9. Profile...in most cases you will be completing the Profile, if required by your school, at the same time as your FAFSA. BUT check those deadlines....if you are applying EA or ED, or for some scholarships, there could be a priority deadline for filing and this could be as early as October. And yes...you would be using accurate estimates. Sadly, the Profile cannot be amended online once your taxes are complete...you need to do that by hand and send to the college(s). But don't miss the priority deadline if there is one.
10. Check to see if your college(s) requires their own finaid application form. Some do...and these need to be completed as well.
11. Keep good records and copies of EVERYTHING. Print out your FAFSA and Profile, and tax returns (even if you do them online).
12. Look to see what a school requires. Some schools require income tax forms (signed) as part of the application process.
13. Important!! Some schools require completion of finaid forms for both need based AND merit aid. Make sure you understand what the college requirement is...don't assume anything...and remember again, that the requirements vary from school to school.
14. Use the online finaid calculators as they will give you an ESTIMATE of your Expected Family Contribution (EFC). These will NOT give you an estimate of your finaid award. There IS a difference.
15. You can only submit to six schools at one time for the FAFSA. If you apply to more than six schools, you will need to submit the application to the first six schools...wait until it is processed...then go in and amend. Delete the first six and add the others.
16. Full free rides are out there but they are not the dominant form of finaid offered.
17. Most schools (even those meeting full need) require a student contribution. Make sure you can meet this need as well.
18. Re: amending the FAFSA (after you complete your taxes)...the only info you amend is that which reflects the correct numbers from your tax returns. Your asset information (bank accounts, etc) is not changed UNLESS there was a mistake. If there was a mistake, you change the asset number to the correct one as of the date of your first filing of the FAFSA (this happened to us...we put an incorrect account down...and needed to change it to the correct one).
19. There is a locked thread entitled "Financial Aid Resources" at the top of this area. The sites there will provide you with a LOT of information and I would urge you to read them.
20. If you are an undergraduate student, your place of residency for financial aid purposes is the state in which your parents reside. It is NOT easy to get independent student status for financial aid purposes or in-state tuition in a state in which you do not reside.
Monday, June 2, 2008
Cheap Personal Loans - Avail Funds At Low Cost
You must make sure that the amounts you are going to borrow for own purpose comes at low costs. Your efforts should be towards making the repayment of the loan easy. Cheap personal loan can give you such an amount, but you should avail it carefully.
These loans are provided at low interest rate to those people, who have a good history of making timely payments. Such people have a score or 600 or above on FICO-scale. However, since such a perfect credit history is rare in these days, the lenders are ready to provide personal loans at lower rate to people, even if they have less than perfect credit history. Know your credit-score, before applying for these loans.
Such people are asked to furnish their home or any property, as collateral. Such secured loans are usually made available at lower rate of interest, as the lenders do not incur many risks. You can borrow greater amount of loan. You can repay the loan in 5 to 30 years. If you are a tenant or non-homeowner, then the rate will be higher. However, a lower rate can be ensured for people, who have a good credit history.
These loans are usually used for home improvements, debt-consolidation, wedding, purchasing a car and host of other personal purposes.
Get copies of your credit report form all the bureaus. Ensure that the report has no mistakes about the payments you made in the past. It would be prudent to apply for these loans with an improved rating.
To find out a suitable deal, apply for the rate quotes of the lenders. Compare the rates on cheap personal loans. You should compare additional fees also on these loans.
Stafford Loan
A Stafford Loan is a student loan offered to eligible students enrolled in accredited American institutions of higher education to help finance their education. The terms of the loans are described in Title IV of the Higher Education Act of 1965 (with subsequent amendments), which guarantees repayment to the lender if a student defaults.
In 1988, Congress renamed the Federal Guaranteed Student Loan program the Robert T. Stafford Student Loan program, in honor of Senator Robert Stafford of Vermont, for his work on higher education.
Because the loans are guaranteed by the full faith of the US Government, they are offered at a lower interest rate than the borrower would otherwise be able to get for a private loan. On the other hand, there are strict eligibility requirements and borrowing limits on Stafford loans.
Students applying for a Stafford loan or other federal financial aid must first complete a FAFSA. Stafford loans are available to students either directly from the United States Department of Education through the Federal Direct Student Loan Program (FDSLP, also known as Direct) or from a private lender through the Federal Family Education Loan Program (FFELP).
No payments are expected on the loan while the student is enrolled as a full or half time student. This is referred to as in-school deferment. Deferment of repayment continues for six months after the student leaves school either by graduating, dropping below half-time enrollment, or withdrawing. This is referred to as the Grace Period.
Stafford loans are available both as subsidized and unsubsidized loans. Subsidized loans are offered to students based on demonstrated financial need. The interest on Subsidized loans is paid by the federal government while the student is in school, during the grace period, and during authorized deferment. For unsubsidized Stafford loans, students are responsible for all of the interest that accrues while the student is enrolled in school. The interest may be deferred throughout enrollment. Unpaid interest that is deferred until after graduation is capitalized (added to the loan principal).
For variable rate loans, the rates are set annually using the price of the 91-day Treasury bill on the last Monday of May, and become effective for the following year on July 1. For fiscal year 2007-2008 the 91-day Treasury bill auctioned on May 29, 2007 at 4.919% (rounded to 4.92%) are used for the calculation. On May 27th, 2008 the 91-day Treasury bill was auctioned at an investment rate of 1.905%. On July 1, 2008, the base rate for variable rate Stafford loans will be adjusted to 1.91%. Loans issued prior to July 1st, 1998 will be adjusted to a rate of 5.01%. Loans issued July 1st, 1998 thru June 30th, 2006 will be adjusted to a rate of 4.21%.
As of July 1, 2006 all Stafford loans are issued with a fixed interest rate. For Direct loans and most loan providers, the rate is currently set at 6.80%.
As the new rate goes into effect, some loan providers are foregoing portions of the margin they are entitled to under the Federal program, offering interest rates lower than the standard rate. Many are also offering price incentives related to payment history, direct debit, etc. Collectively, interest rate reductions, principal reductions, and origination fee discounts are known as Borrower Benefits.
In addition, in repealing the Single Holder Rule, Congress also allows loan providers to compete for college consolidation loans that are available to students and former students with multiple loans. Specialized consolidation lenders and student loan providers compete on various incentives to attract customers.
Applying for a Stafford Loan
To apply for a Stafford Loan, you must submit the Free Application for Federal Student Aid (FAFSA). Even though the unsubsidized Stafford Loan is available to all students regardless of financial need, you must still submit the FASFA to be eligible. You can receive a subsidized loan and an unsubsidized loan for the same period.
You may use the Lender Codes Database to obtain the lender codes of participating student loan providers. FinAid also maintains a list of education lenders who offer federal and private student loans. If you are a student attending a school that participates in the Federal Direct Student Loan Program you will obtain your federal student loan funds directly from the U.S. government, not from private lenders.
2008-2009 Gates Millennium Scholarship
As high school seniors labor in the busy period of college applications, the scholarship process continues to roll steadily along. It is a dual process that is most successful when they are simultaneous. Over the next several days, I will profile several scholarships that students who are eligible should consider. If the scholarship doesn’t fit your profile, continue to check FastWeb.com for ones that do. There is no set time table for when to finish college applications and start on scholarships. Following the description of the scholarship, I will suggest ways to approach the application and maximize your potential for success.
2008-2009 Gates Millennium Scholarship
The GMS covers all unmet need and any self-help reported by the student’s university. Students must qualify for a federal Pell grant each year to receive aid. The process of qualifying for a Pell grant starts with filing for the FAFSA beginning January 1, 2008. GMS Scholars are selected based on:
Are African American, American Indian/Alaska Native, Asian Pacific Islander American or Hispanic American,
Are a citizen/legal permanent resident or national of the United States,
Have attained a cumulative GPA of 3.3 on a 4.00 scale (unweighted) at the time of nomination,
Will be entering a U.S. accredited college or university as full-time, degree seeking freshmen in the Fall of 2007,
Have demonstrated leadership abilities through participation in community service, extracurricular or other activities, and
Meet the Federal Pell Grant eligibility criteria.
Have all three required forms (Nominee Personal Information Form, Nominator Form, and Recommender Form) completed and submitted by the deadline.
Over 1,000 high school seniors win this scholarship annually. I was fortunate enough to be one of them in 2006. From November 10-12, 2006, I attended the GMS Leadership Conference in Los Angeles. It was a great time of networking and meeting other scholars who are passionate about their goals and giving back to the community. I would encourage all eligible seniors to apply for this scholarship. The application is available online and the deadline is January 11, 2008.
Suggestions:
When writing your essays, use clear and vivid examples. Show, don’t tell. For each of the essay questions, be sure to include an example that fits the topic and tie it into your overall theme.
Complete the application in multiple sittings. There are several required essays in addition to the application information. Remember to give enough time for editing and revising with a teacher, family member, or peer.
Start early. The last thing you want to do is rush to finish your application the morning it is due. This was my case last year and was cause for much anxiety. In addition to the application, you must have a nomination and a recommendation. I would suggest pinpointing the individuals you want to nominate you and recommend you early.
Choose wisely when asking for a nominator and a recommender. The GMS allows the nominator and recommender to be the same person, but I’d suggest finding two different people so that the judges can see your profile from two sets of eyes. When asking for a recommendation, remember to submit a Personal Data Form well in advance so your recommender/nominator has sufficient time to write you a solid letter.
Tell your story convincingly, but do it in your own style. My sister’s theory is that she believes everyone has a story; it just depends on how you tell it. When you write your essays, be honest. Tell it in a way that reflects your personality, but still demonstrates sophisticated writing ability. Don’t feel like you have to write a novel; write what you feel tells your story adequately and powerfully.
The GMS seeks young leaders who are active in their communities and demonstrate academic achievement. When listing your activities, choose the ones that most describe your personality and reflect your passions. Chances are you’ll be able to write about them more effectively.
http://scholarshipmillionaire.wordpress.com/2007/09/26/scholarship-profile-2008-2009-gates-millennium-scholarship/
Student Loans by Wachovia
Banks and Your Educational Money
Like Citibank and other traditional banking institutions, Wachovia has expanded its services to include a well-stocked bar of educational products and services. Their Educaid site almost loses its Wachovia-bank veneer and takes on a hipper, trendier look to appeal to a college-centric audience that is a blend of students and parents searching for the college dream, accessible only with the best mix of student loans.
Loan Products
Like most other lending institutions, Wachovia is a participant in the Federal Stafford Loans and the suite of PLUS loans. Beyond these the company provides its brand of private student loan - the Wachovia Education Loan - designed with low interest rates and large margins for borrowing. This loan is credit based and is approved based on a variety of factors.
Alternative student loans include a specialized suite of TERI loans each designed for continuing education students, medical students, or loans for students attending college abroad.
Loan Account Management
Like any good banking institution the ability to manage your account online makes the services very convenient and flexible. This way students and parents can track loan payments and apply for services if needed. Extra services include student loan consolidation, and deferment options.
Consolidation and Deferment Options
In some cases graduates are not able to manage multiple student loan repayments that come due monthly. While the Federal loans offer either 6 or 9 months grace period past graduation, it is still not uncommon for college grads to run into trouble with repayment. To avoid instances of student loan default, most lending bodies make student loan consolidations a matter of regular business. Graduates can roll all student loans into one low monthly payment. Typically the refinancing extends the repayment period, but the affordability makes it worth the extension.
A number of deferment or loan postponements are possible with Wachovia. Students attending college half-time are eligible for student loan deferment as long as they are enrolled. Graduates who find themselves unemployed can qualify for a deferment; and students who are working, but earn an income that falls below the poverty level can qualify for hardship deferment.
