An Introduction to Canada Student Loans

  By JNykoluk | January 8, 2009 - 2:17 am | Canada Student Loans
Leave a comment

As in the United States, Canadian students seeking student loans from the government, must demonstrate the financial need to cover their educational expenses.  A good site for information on this is at www.HRDC.gc.ca.

Here you can learn not only about student loans but student grants as well. The difference between a loan and a grant is that you must repay a loan, but you do not have to pay back a grant. (We’ll get into student grants in later articles.)

At the site you can learn everything you need to know about Government Student Loans. You can determine whether or not you qualify for a Canada Student Loan by (more…)

When It Comes To Your Student Loan, How Much Money Should You Borrow?

  By JNykoluk | January 7, 2009 - 2:15 am | Student Loan Financing
Leave a comment

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Of all the questions you may be asking yourself about student loans, the biggest question you are probably asking yourself is – How much money should I borrow for my student loan?

However, before asking this question, you first need to take an organized approach to get a more accurate determination of the amount of student loan you need to borrow.  Remember that as soon as you sign any promissory notes to repay your debt, you are (more…)

What Is a Student Loan Consolidation?

  By JNykoluk | January 5, 2009 - 2:56 am | Student Loan Consolidation
Leave a comment

When we talk about college graduation, several promising life changes occur in our minds – potential careers, independence as well as new beginnings.   However, although it means beginning of something, it still signifies something less enjoyable too – the repayment of student loans.

As you all know, the repayment of ample student loans can be off-putting for both students and their parents.   It was found out by the Public Interest Research Group in the US that the average debt among student borrowers is currently in excess of (more…)

Collection Procedures Resulting From Student Loan Defaults

  By JNykoluk | January 4, 2009 - 2:42 am | Defaulted Student Loans
Leave a comment

Most of the guaranty agencies’ stringent collection procedures have successfully deterred student loan neglect.  One of the supports for this claim is the steady decrease and current all-time low of student loan default rates.  However, although the collections department is highly committed to assisting those who are in default and making repayment as simple as possible, the non-response in the borrowers’ side still opens up to one or more of the following collection approaches: (more…)

Your Education Investment – Considerations When Investing In Your Education

  By JNykoluk | January 3, 2009 - 2:39 am | Student Loans Tips
Leave a comment

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Most people may think that the term “investing” has to deal with spending a little money on something in the hopes that it will increase in value in the future.  Your education investment, however, is much more involved.  Yes, you are spending money now in the hopes you will make a lot more money in the future.  Yes, the risks and rewards of investing in your education are similar as well, depending on the (more…)

Student Loans Repayment – An Introduction to Repaying Your Student Loans

  By JNykoluk | January 2, 2009 - 2:00 am | Student Loans Repayment
Leave a comment

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

If you have never taken out a loan before, consider yourself lucky.  I don’t mean, just student loans, but rather – any type of loan.  I also don’t mean to imply that loaning money is bad for you.  It’s just that many people have a difficult time keeping control of their debt.  Being in debt is always a burden.  How much of a burden depends on not only how you handle your debt but also on what you use it for.

If leveraged correctly, a loan can reward you many times over, above and beyond the amount of money you owe.  This can (more…)

What is a Student Loan? – An Introduction For Borrowing Students

  By JNykoluk | December 30, 2008 - 6:01 pm | Student Loans Tips
Leave a comment

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Believe it or not, at one time a student did not need to take out much of a loan to get an education. It cost less than $2000 to get a college or university education. As many students now know the unbelievable rise in educational costs are giving them fewer and fewer options. It used to be no problem for aspiring students to get a loan from their parents.

Many times the student wouldn’t even need to (more…)

FAQ’s to Ask Before You Borrow For Your Student Education

  By JNykoluk | January 1, 2008 - 2:57 am | Student Loans Tips
Leave a comment

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Financing an education for any student will be one of the most important decisions he or she will ever make.  Before deciding to borrow money for your student education, you need to find good answers to some very important questions.

Before asking these questions, it is important to note that there is no, one, correct answer.  Every answer will differ depending on the circumstances or needs, of each and every student.  Having said this, we will also try to (more…)