Clear Solutions to Student Loans Problems Explained at Online Student Loans Guide
Online, July 22, 2010 (Newswire.com) - Huntington Beach, California- Online Student Loans Guide, a guide about available student loans, announced today its most recent articles about the new government student loan reform bill and Wells Fargo's exciting new student loan for parents. The articles, found at http://www.onlinestudentloansguide.com, clarify possible confusion about the reform bill, and explain how any sponsor, not just parents, can help a student through a private student loan from a reliable bank.
The most recent blog article on the Online Student Loans Guide blog typifies the useful information available there. The blog specializes in making easier the process of how to consolidate student loans or obtain online student loans, bad credit student loans, and more. The article, titled "In a Nutshell: What Students Need to Know About the New Student Loan Reform," boils down the elaborate legal jargon of a federal bill that recently passed to the actual results for students and their families. Most important is the date the changes will take place for citizens, with the loan process change that began on July 1, 2010, and later changes happening in 2013 and 2014. For now, loans will be negotiated directly with a school's student loan department, which will work directly with the government for loans. In 2013, Pell Grant limits will begin increasing in pace with the Consumer Price Index, although not at the same rate as many tuition hikes already occurring. By 2014, the caps on monthly payments will go down to 10% of discretionary income, as opposed to the current 15% cap. And current borrowers who haven't paid off their loans after 20 years will have them forgiven, instead of the current 25 years cutoff.
The article posted before the one about the reform bill, titled "New Private Student Loan: The Wells Fargo Student Loan for Parents," explains that anyone, not just parents, can apply to become a qualified sponsor for a student. With private student loans becoming more and more rare, readers of Online Student Loans Guide will be excited to know they can supplement government loans with this new program. Some features explained include the options to only pay interest on the loan for up to 4 years, to repay the loan in 15 years, and apply for students attending less than half time. In contrast the Federal Plus Loan only allows parents to apply for loans on behalf of their college student who attends at least half time. Other features discussed at the Online Student Loans Guide blog are no application, origination, or repayment fees, the maximum allowed loan amount, $25,000 per school year, and an aggregate total loan maximum of $100,000 from any source. Sponsors also may have the student co-sign for the loan, making students responsible for repayment, with sponsors having the ultimate obligation in case of student default.
With these latest offerings, Online Student Loans Guide.com has demonstrated its usefulness to anyone struggling with defaulted student loans or looking for ways to find student loans online. Available student loans programs are presented simply by entering in one's zip code. Many informative entries can be found at http://www.onlinestudentloansguide.com, where updated entries are frequently posted.
About the Online Student Loans Guide.com blog: Online Student Loans Guide.com helps people who need student loans or want to help someone get a government student loan for graduate or undergraduate education.
Contact:
Jim Borrowstein
19881 Brookhurst St., Suite C285
Huntington Beach, California, 92646
714-799-6243
OnlineStudentLoansGuideP@gmail.com
http://www.onlinestudentloansguide.com
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