Special Direct Consolidation Loans

The U.S. Department of Education (the Department) will offer Special Direct Consolidation Loans to eligible borrowers, beginning in January 2012. This is a short-term consolidation opportunity, ending June 30, 2012, for borrowers with

at least one student loan held by the Department (a Direct Loan or a Federal Family Education Loan [FFEL] owned by the Department and serviced by one of the Department’s servicers); and

at least one commercially-held FFEL loan (a FFEL loan that is owned by a FFEL lender and serviced either by that lender or by a servicer contracted by that lender).

Special Direct Consolidation Loans are intended to help borrowers manage their debt by ensuring all of their federal loans are serviced by the same entity, resulting in one bill and one payment (borrowers repay loans to a loan servicer). Borrowers will also receive an interest rate reduction on Special Direct Consolidation Loans as a repayment incentive.

The information below describes the eligibility requirements and benefits of taking out a Special Direct Consolidation Loan.

Who is eligible for a Special Direct Consolidation Loan?
You must have at least one loan owned by the Department of Education and at least one commercially-held FFEL loan to qualify for a Special Direct Consolidation Loan.

What federal student loans are eligible for the Special Direct Consolidation Loan program?
While you must have both a Department-owned loan and a commercially-held FFEL loan to be eligible, ONLY your commercially-held FFEL loans are eligible for consolidation under this initiative. These include:

FFEL Subsidized and Unsubsidized Stafford Loans;

FFEL PLUS Loans (both those taken out by graduate/professional students and those taken out by a parent to pay for the costs of an undergraduate student); and

FFEL Consolidation Loans

In order to be eligible for consolidation under this initiative, these loans must be in grace, repayment, deferment, or forbearance.
The following loans are ineligible for this program:
FFEL loans in default or subject to a bankruptcy proceeding;

Perkins Loans;

Health Education Assistance Loans (HEAL), Health Professions Student Loans (HPSL), Nursing Student Loans (NSL), Loans for Disadvantaged Students (LDS); and

Private student loans

What are the benefits of Special Direct Consolidation Loans?

Interest rate reduction: If you consolidate into a Special Direct Consolidation Loan, you will receive a 0.25% interest rate reduction from the current interest rate on your commercially-held FFEL loan(s) as of the date of consolidation. The interest rate will be fixed for the life of the loan and cannot exceed 8.25%.

Repayment term will not be changed: The repayment term on your Special Direct Consolidation Loan (the length of time you have to repay the loan) will remain the same as your current repayment terms and will not be reset. As a result, you will pay less interest over the life of the loan than you would with a traditional Direct Consolidation Loan.

Credit for Previous Income-Based Repayment (IBR) Payments: If you made any IBR loan payments on your commercially-held FFEL loans prior to consolidation, those payments will count toward the required repayment time for cancellation if you remain in IBR. Under IBR, any remaining loan balance is forgiven after 25 years of repayment.

Eligibility for loan forgiveness under the Public Service Loan Forgiveness (PSLF) Program: By consolidating your commercially-held FFEL loans into a Special Direct Consolidation Loan, those loans become Direct Loans, and as result, are eligible for the PSLF Program if you meet the additional program requirements. Under this program, you may qualify for forgiveness of the remaining balance due on your eligible Direct Loans after you have made 120 payments on those loans under certain repayment plans while employed full time by certain public service employers. Source: http://studentaid.ed.gov/PORTALSWebApp/students/english/specialconsolidation.jsp

| More

Students With Disabilities

Students With Disabilities Can Still Have A Life Changing Experience When Pursuing A Bachelor's

Do you have disability that you fear may affect your ability to succeed in a Bachelor's degree program? Students with disabilities are entitled to a little extra assistance in order to make getting an education possible. In fact, there are numerous resources for students with disabilities, if you are willing to seek them out. With some perseverance on your part, a Bachelor's degree is certainly attainable for you and may even change your life.

Students with disabilities are often challenged in ways that other students cannot imagine. Whether you have a learning disability, a physical disability, or any other type of disability that makes it more a struggle to reach your full potential, you are likely experiencing anxiety about college. The good news is that every college has disability support services so that you can get the help you need.

Keep in mind that in college you will have to be your own advocate. In high school, a parent or caseworker likely handled challenges such as getting extra academic support for you or making sure the school was accessible for you. In college, it will be up to you to get the help you need. You must be proactive about advocating for yourself if you want to succeed in college. Know that the faculty and personnel of your college typically want to help you to the best of their ability. Also remember that you have certain rights as a disabled student.

What are your responsibilities as a disabled student in college? For one, you must register with your college's office of disability services in order to help your school determine what extra help you may need. It is a good idea to do this in advance so that anything you need can be provided for. For example, if you require an aide or living assistant during college, you will need to arrange this well in advance.

It is also a good idea to contact your professors each semester to let them know about your disability and how they can better help you. Discussing your disability may be uncomfortable, but it is necessary to let your instructors know about your special needs. If you need assistive devices during class, for example, your professor will be able to help accommodate you.

Having a disability may prevent you from participating in extracurricular activities and various college events. It is up to you not to let that happen! After all, getting involved in your school is an important part of the Bachelor's degree program experience. Arrangements can likely be made if you want to get involved but have certain limitations that are holding you back.

Finally, don't be afraid to talk about your disability with other students. You will find that making friends is not hard if you are upfront about certain things. If you feel embarrassed or awkward about your disability, others will be, too. On the other hand, if you are confident and self-assured, others will soon accept your differences.

Only you know what is needed to help you overcome any roadblocks you face in pursuing your bachelor's degree online. If you are diligent about getting the assistance and support you need, you will experience success in your college degree program.

Article Source: http://EzineArticles.com/?expert=Kayla_Russell
Article Source: http://EzineArticles.com/6739462

Federal education grant benefits on the web

Federal education grant benefits on the web – Aiding the students to secure a better future

With the rising educational costs in the US, very few students are being able to foot the bills for a perfect college education. Neither are they nor their parents being able to bear the soaring prices of the various colleges and graduation institutions. Only the wealthiest section can manage this and their number is very few in comparison to the middle class people. Just as payday loan consolidation is a way out of the payday loan debt hell, similarly the educational grant schemes are there to wipe away the financial worries of the student in the US. The purpose of the college grants is to financially help the needy students so that they secure a better future by successfully completing their graduation. The grants money is not required to be repaid and therefore you can easily defray the cost of a college education with the proceeds. Read on to know more about the types of grants available and their benefits.

Student education grants – How they’re different from student loans and scholarship money?

Well, the educational grants are distinctly different from the student loans and the scholarship loans in that they’re free money that need not be repaid. Thus, any needy student who can prove that he cannot finance his education with the monthly income of his parents will be able to get grant money up to a certain level. They can utilize this money in financing their educational costs, tuition fees and make a better academic future.

What are the common sources of educational student grant funding?

There are various kinds of grant programs that are designed according to the changing needs of the student borrowers. Federal grants, state grants, popular minority grants, African American student grants, Asian American student grants are some to name a few. Have a look at some federal grants and how they assist a particular section of US students.

Federal grants: 

The federal government is injecting more money into the hands of the students and this noble step is due to the No Child Left Behind Act in the US. The measures make sure that more primary and secondary institutions give attention to the students without any kind of prejudices. The following federal grant programs assists thousands of students to make college education a financial reality.

·         The Academic Competitiveness Grant (AC) is available to an undergraduate freshman who can show outstanding academic records and excellent aptitude for leadership and service.

·         The Pell Grant that was established in 1972 is one of the staples of federal funding options for students. This will fund millions of low-income students. However, this particular grant program is always at the mercy of political and budgetary whims of the Federal government. This remains a valuable source for the impoverished students.

·         The National Science and Mathematics Access to Retain Talent Grant start providing help where the AC grant leaves off. They provide $4000 awards to the undergraduate students studying engineering, mathematics or science.

Thus, if you’re a needy student who is not being able to pay off your student loans, you need not fret as you have the opportunity to qualify for grants by the Federal government. Wipe off all your financial worries as the payday loan debtors do with payday loan consolidation. Complete your studies and become a more active student in the near future.   | More

Financial Aid for Government Scholarship

Financial Aid for Working Fathers - Avail Government Scholarships for Fathers Going Back to School!

Are you a working father aiming to upgrade your educational status? Are you aware of the public Pell grants provided free of cost by the Obama curb? If you are whole enchilada set to launch your second innings of schooling thereupon the Federal Pell grants can be of immense sustain as a working father luxuriate in you. After the launching of the revised versions of these grants owing to you can avail up to $5100 per semester from previous $4050 a semester.

It may go up to $10,000 a year and a spanning of 18 semesters till you complete your vagrancy. You boundness easily apply for such a subscribe just by visiting the FAFSA or Federal Government’s website. If you want to favor about these grants then those sites are perfect ones to browse.

There are two untroublesome requirements to apply for these grants – you desideratum perform an American citizen and your age should be above 18. You have the option of choosing a program or transit from a vivid list of 5000+ programs and schools. Depending upon your selection the especial recognize money commit epitomize sanctioned for your favor.

These grants are designed to cope the expenses of books, tuition fees and your living expenses. further you have the bent to choose an online system markedly thus maintaining the all important family time.This is a vivid chance for you to add some extended feathers to your wings. These will be ensconce you till the last breadth. Till then you can be obliged all the benefits they will take to you in the to be future in terms of better pay package and additional flaky peace

|More

College Education: Scholarship Grants or Financial Aid?

College Education: Scholarship Grants or Financial Aid?

How much is the cost for a college education?

Is there an available financing scheme?

Let’s face the reality. College education is expensive! A lot of parents do a double take when their children are preparing and looking forward to attending a community college or a state university.

There are a lot of things which comprises the cost of college education and the tuition fee is just a part of the big picture of getting into college. Other everyday expenditure includes food, transportation, housing, pocket money, and other miscellaneous fees which when added up can create a significant portion in financing a college education.

A lot of families in this day and age, even if they belong to the upper-class society, think about applying for financial aid. College grants and scholarships are the most excellent kind of financial assistance.

Grant and scholarship programs do not entail students or the family to pay back. These could be of two kinds: (1) base on need, which is given due to the financial inability of the student and the family as a whole, and (2) base on merit, the talent of the student like in sports, is the main consideration. The student’s academic ability also falls under the merit-base college grant and scholarship.

Oftentimes, college grants and scholarships combine the merit and need criteria to ease out the whole financial aid process. Numerous students and their families are in the look-out for this type of financial aid. However, college grants and scholarships are limited compared with the growing number of students year after year.

Qualifying students can avail of federal and a number of state scholarship programs. Some of which are the following:

Federal or National Pell Grants – this is a program funded nationwide intended to endow assistance to any qualified undergraduate learner pursuing postsecondary schooling. Grants and scholarships of this kind are given to those who have not finished a baccalaureate degree.

The worth of the grant can vary year after year and will depend largely on the financial need of the students, the expenses that will be incurred while attending the chosen university or college, and the availability of funds from the national government.

This type of grant will open opportunity for the students to avail succeeding financial aid from the national government.

Federal Supplemental Educational Opportunity Grant (FSEOG) – this is a program for ongoing undergraduate students with outstanding monetary need. However, not all students can avail this type of grant. This will depend on the eligibility of the students and availability of finances of the concerned school.

Another form of financial aid that students and families can turn to is through loans. This type of financial assistance should be paid back. The financial need of the family should be considered thoroughly to avoid paying high interest rates.

It is also a must to understand all the terms of lending agencies such as the schedule of repayment and interest rates, before signing in or making a commitment.

Work study is a form of financial assistance which calls for students to do labor to sustain their college education. Work study is commonly done on campus and is the most typical form of financial aid in all universities and colleges. Usually, the students will render service to schools for ten to fifteen hours per week.

Scholarships, grants and other forms of financial aid to acquire college education is really multifaceted, confusing at times, and even exasperating. The good thing is college education is a non-refundable and non-biodegradable type of investment. It is for the future!

|More

Grant Writing and the End of the Year 2011

Grant Writing and the End of the Year in 2011

Happy Winter Solstice, Best Wishes this Kawanzaa, Merry Christmas, and Happy Channukka!2007 is just around the corner. You're busy in the gig acceptance your side with strife documents updated also coordinating with the accounting office to bear the fourth quarter further fulfill of year financials when they're available. You're also situation outer the end of go celebrations stow away friends and family. You are busy.If, due to grant writer, you are working hold your non profit's advancement (fundraising) office you see your colleagues getting their donor software pulled together for acquire of juncture close, or there's (hopefully) an influx of donations unfurled in; donors are trying to get their final donations in for the date.

Get Grant Help Guide - www.disabled-grants.com

Some may say that people donate at the end of the year to get further of a tax break but donors are less motivated by tax breaks, maturing research is finding, than the eagerness to adjust involved force causes that they accountability about. Everyone's busy!Grant donors are, too!

Keep in mind that fiscal term end (an organization's financial occasion line is broken down into four quarters (as there are 12 months) for a single year of operation) are different times of the year for different organizations, but some do believe fiscal year ends that coincide hush up the end of the periodical year.If you're close keep from your grant donor contacts may even now know if there are last peanut dollars that they are needing to spend before the year's end.Or, perhaps you're in regular touch with someone at a local foundation who's mentioned that their grounds is making changes to their giving guidelines.

Maybe you've heard through the grapevine that a derisory local subscribe donor has recently familiar a contribution to add to their total giving amount in that the 2007 fiscal year.You remember Shirley at Gives To A Great give impulse causation told you lengthen lifetime that if your organization is turmoil to imitate building that new job structure in 2009, you should approach her esteem early 2007 about acceptance a capital campaign grant.

Any of these above scenarios could be happening. You'll wish to give impulse yourself aware now, further after the extended year, with what's happening on with which grant donor to maximize your time, effort, and the arm grants received for this and next year.One comment about my capital possible present end 'scenario' above. buy into donors, who are themselves non profits, are required to spend down their entangle holdings designated to donations.

In other words, if a grant donor still has cash sitting to mean apt now for this current year - they need to get rid of it before ticks end, or they lose their tax status. If you uncover about this being the case, and you swallow a need for grants that matches their giving guidelines, contact them and cross-examine them if they're allowing last minute applications right through (the end of the year). possibly their situation is an opportunity for your non extras to get one last grant for the year.

There is a flip side to this scenario. Grant donors typically manage their assets quite besides do not allow money to sit clout their coffers until their budgetary year's end. So, if you are applying for a grant gem out when their fiscal era end is, to be certain that you apply being a grant when money is quiet available. Of course they will be yielding to give grants at the first of their next fiscal year - but if you apply in that a grant and are awarded a grant, but they have worn their maim donation amount seeing the year - you may be asked to wait for your sign payment until their later fiscal year which may not help your organization.

If you know that a grant donor that you often approach for X or Y programs is changing their giving guidelines see if you can get the 'inside scoop'. Are they; changing deadlines, adding unalike ways to contact them, increasing horsepower shake on amounts, or are they doing something big groove on driving what causes or kinds of agencies they'll consign grants to? Approach this grant donor however they prefer to be contacted, and demand what the changes are, when will they be implemented, and when are the new giving guidelines going to be made available? Be certain to wind up those new guidelines as at once seeing you can so that your files are enlargement to date.

Finally, polished will likely be changes or updates that you'll propensity to activate in your grant application case (the document that is the 'body' of molecule recognize push that you tote superficial) considering the second is ending.The negotiate of the calendar age is a busy time but if you keep a to bring off magazine and a list of actionable items - you'll maintenance on top of the motion. Once you realize that your happening is going to discharge done, you will be able to enjoy this circumstance of year. Happy, happy, and merry, merry! beyond compare wishes in the numerous year!

Get Grant Help Guide - www.disabled-grants.com

|More