Debt Consolidation with Free Government Grants? One Scam to Avoid

by Charles Essmeier

Have you ever seen a commercial or an ad promising “free government grant money?” According to these ads, the government and other organizations give away nearly one half a trillion dollars each year, and all you need to do is apply! The ads go on to state that the money can be used for anything, including debt consolidation, student loans, a yacht or just about any frivolous thing you can imagine. All you need to do is call their toll free number, buy their book or enroll in their program and the details are soon on their way to you.

A half a trillion dollars is certainly enticing, but are organizations really just giving money away for the asking?

Not exactly. Grants are certainly available from the Federal Government and elsewhere, but it’s not as though the money is just handed out for the asking.

Grants are usually given by organizations interested in achieving specific goals. If you’re interested in bringing water to the desert, you might find an organization that’s interested in global water distribution to aid you in your quest with a grant. It’s doubtful that you’ll find an organization that’s interested in helping you pay off your Mastercard bill or funding your dream vacation home in Sun Valley. Some of these organizations that advertise grant information are running scams, and they’re just out to take your money and run. Others are fairly legitimate in that they will provide information to you for your fee, but the information they provide is readily available elsewhere for free.

If you are really interested in grant money, there’s no reason to answer to the ads on TV promising “free grant money.” The term “free grant money” is a rather odd term, anyway, since the word “grant” means “bestow” – it’s a gift, and if it’s a gift, then of course it’s free! You can find out about grants from the Federal Government by visiting the official Government grant Website – www.grants.gov. If you are in doubt about one of these organizations, it never hurts to check with your local Better Business Bureau.

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Next Day Loans For Students - Easy Way to Tackle Tough Financial Worries

By Eddy Marsh


While meeting the educational expenses, if you have come across sudden unwanted or unavoidable expenses then do not worry. As a matter of fact, you can apply for the next day loans for students. Leading lenders in the UK have designed this small and short term loan to help the borrowers quickly in their urgency.

The students whose credit score is not perfect and have been ignored several times by the traditional lenders can also apply for a next day loans for student. Well, in this type of loan, lenders never check the credit ratings for approving funds. The application procedure for these loans is very simple and hassle free. The students need not to go in the market to locate the best lender for them. As of now, loans can be applied online and no lengthy documentation is done.

The next day loan for student is available to the students who are the UK citizen with minimum 18 years of age. Apart from the age, the student must possess active bank account. The student must possess valid bank account for at least three months.

With the approval of terms and conditions, the students can borrow the loan amount up to £1500 through a next day loans for students. Importantly, keeping in mind the urgent needs of the students funds are transferred into the bank account in same day or by next 48 hours of application approval. Therefore, processing time of these loans is very quick and hassle free as no credit check and security is involved, the funds get approved on the same day of the application.

The next day loans for student are backed with higher rate of interest when compared with other personal loans. Well, the total cost of borrowing or the Annual Percentage Rate for these loans vary from lender to lender.

Eddy marsh is financial advisor of Next Day Payday Loans. Contact me for any next day loans for unemployed queries. For more information visit http://www.nextdaypaydayloans.co.uk/

Article Source: http://EzineArticles.com/?expert=Eddy_Marsh

What is 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 U.S. Senator Robert Stafford, a Republican from 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 financial intermediary (such as Chase, Sallie Mae or Student Loan Corp.) 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).

This information is retrieved from wikipedia on 6th January 2009.

Interest Rate Reductions

Over a four-year period beginning July 1, 2008, the interest rate on subsidized Stafford Loans made to undergraduate students will be reduced. You can see this information here.

These changes apply to subsidized Stafford loans first disbursed on or after July 1 of each year through June 30 of the next year. This change does not affect any prior loans made to borrowers; the terms and interest rates of those loans remain the same. These reduced interest rates apply only to subsidized loans; any unsubsidized Stafford Loan for the same undergraduate borrower would continue to be made at the current fixed interest rate of 6.8 percent.

Take this golden chances!