Are my parents responsible for my educational loans?:
Parents are NOT responsible for any FEDERAL Student Loans (Stafford and/or Perkins). However, they are responsible for the Federal PLUS loans and any other alternative loans that require a co-signer. In general, the student is solely responsible for repaying their FEDERAL educational loans. You do not need to get your parents to cosign your federal student loans, even if you are under age 18, as the 'defense of infancy' does not apply to FEDERAL student loans. (The defense of infancy presumes that a minor is not able to enter into contracts, and considers any such contract to be void. There is an explicit exemption to this principle in the Higher Education Act with regard to federal student loans.) However, lenders normally will require a cosigner on any type of private student loan. If your parents (or grandparents) want to help pay off your FEDERAL loan(s), you can have your billing statements sent to their address. Likewise, if your lender or loan servicer provides an electronic payment service, where the monthly payments are automatically deducted from a bank account, your parents can agree to have the payments deducted from their account, but your parents are under no obligation to repay your loans. If they forget to pay the bill on time or decide to cancel the electronic payment agreement, you will be held responsible for the payments, not them.
Until next week…
Your Friends At The College Planning Network
PS. As always, if you have any questions on how you're going to pay the upcoming astronomical costs of college, please do not hesitate to contact your College Funding Advisor. They can walk you through several different payment options to help determine the right one for you. |
|
Last Updated on Friday, 18 June 2010 02:26 |
|
Preparing to Simplify Your Life
First – Make sure as you move into the summer that you are doing everything possible to organize and inform yourself of tasks that need to be completed before the next school year. Make a calendar of what to expect and pencil in items for action on specific dates. Here are a few important topics to consider for each stage of planning you are at.
|
|
Last Updated on Friday, 18 June 2010 02:26 |
|
Read more...
|
Recommendation Letters
Recommendation letters are often used by students during college admissions and job applications. Some graduate schools may even require prospective students to have at least two letters of recommendation during admissions. Writing a recommendation letter for someone else is a huge responsibility and getting everything just right is important. If you are hoping to get a shining recommendation from a teacher, employer or mentor, here are some tips to guide you in this process.
1) Make sure you choose a person to provide your recommendation that knows your strengths.
|
|
Last Updated on Tuesday, 25 May 2010 14:22 |
|
Read more...
|
|
Internships Create an Advantage
Not only do internships reveal viable career paths through hands-on learning experiences, they give a student an edge over their competition when it comes to applying for jobs. You may have a killer cover letter, a stellar grade point average and glowing recommendations from your professors, but in today’s competitive market, employers are ever watchful for the new hire that knows how to jump right in and start running with the ball. "Internships have become key in today's economy," says Melissa Benca, director of career services at Marymount Manhattan College in New York City. "Graduating students with paid or unpaid internships on their résumé have a much better chance at landing a full-time position upon graduation. Students are doing internships as undergraduates, and it is now not unusual for recent grads to take an unpaid internship with hopes of turning it into a permanent position or at least making some contacts and building their résumé." Internships allow a student to explore and experiment while gaining professional experience and exposure. Additionally, interning helps participants develop essential skills and build the confidence to secure a first job or graduate school opportunity.
|
|
Last Updated on Tuesday, 08 June 2010 19:34 |
|
Read more...
|
How to Manage the Cost of Textbooks:
E-books, textbook rental services, and new laws could help students save money.
Textbook prices, which have nearly tripled in the past 20 years, may finally start to decline thanks to some new laws, technology, and upstart companies. Undergraduates who take advantage of the new alternatives could easily slash their textbook costs in half this coming academic year. That means the typical student could save more than $300. There are new laws that are being put in place where congressional negotiators spent closed door sessions hammering out bipartisan agreement on a proposal designed to rein in skyrocketing book prices. The proposal requires publishers to provide more pricing information to professors who, in the past, often assigned books without knowing how much they would cost students. In addition, the new law would require publishers to "unbundle" the increasingly common and expensive packages of textbooks, CD-ROMs, workbooks, and Web tools so students could buy whatever part they need and not have to spring for the parts they don't need.
|
|
Last Updated on Tuesday, 18 May 2010 17:27 |
|
Read more...
|
|
|
|
|
<< Start < Prev 1 2 3 4 5 6 7 8 9 Next > End >>
|
|
Page 1 of 9 |
Tip of the week
