After four years of high school. After long hours
studying and taking the SAT. After months of looking for that thick
envelope as the postman delivers the main each day. Then one day it
comes, the acceptance into the school or program of your choice.
Each years, many young people go through this ritual while awaiting the
next steps in their educational lives. This can occur for
undergraduate, for a masters or even a PhD. If you know someone who
has received their acceptance letter, show them that you are happy for
them with a gift or other small token of your friendship or love.
Gifts for this occasion do not have to be large or expensive. You
can show your appreciation through sending a gift basket or if they are
going away, start getting them ready by purchasing things for their new
apartment or dorm room.
Getting a Loan: Make Your Life College Loan Ready
Getting a loan for college is something that is going to affect your life
throughout school and long after you graduate. So, it is important to
prepare yourself and your life for getting a loan to make its long term
affects as painless as possible. There are numerous ways of preparing for
getting a loan. You and your parents can begin to save money early to cover
You can communicate openly about money with your family and counselors.
They are your support system and working together with them will make
getting a loan and handling a loan much more conquerable. Finally, research
the kind of loans and financial help you will be seeking to know your
responsibilities and be bold enough to go after what you really want.
When your college days are coming to an end, you should start thinking about
how you're going to pay back your loan. In fact, it's best to start
considering this at least two years prior to your graduation. Devise a plan
that will define how you'll have enough money to repay the loan-whether it's
in full or through a payment plan. It's always smart to begin a college
loan savings account. If you do this, whenever you have money, you can add a
little to it so you'll have some money saved up before it's due. Try to
live budget-friendly as well. Don't spend all your cash on frivolous items
- instead, think about your purchases and decide if you truly need them.
This will help keep your finances in order.
Second, make sure the lines of communication are open between you and your
parents. Your family is a very important part of your support system and
getting a loan might be the biggest financial step you have taken so far.
Find out what, exactly, your family has done to prepare for college
expenses. Find out if there are savings that can be used. Find out how much
they think you will really need, and see if they are willing to supplement
your income during your college years.
Being organized and efficient is very important in college. It's also
important when you're applying for a student loan. Make sure you find out
the deadlines for your applications because if you miss them- you won't be
able to apply again until next year. So, get all the information you'll
need long before the application is due. This will ensure that you get it in
long before necessary.
Lastly, be brave. It is not necessary to base all your decisions about
college around getting a loan or not. Instead, focus on what school would be
best for you. Even if you think you can not afford a certain school, take a
chance because you will be shocked how much financial opportunity there is
out there for a student with potential to succeed. Whether getting a loan or
some other source of money, you and your parents can work together to find
the answer that is right for you.
Rey Prestito can be reached for comment on this article at
Qwik Loans, Inc.,
a company specializing
in personal loans and refinancing.