While it was feasible and a very much doable thing in the past to be able to achieve success without the need for formal education, many prospective students today realize that the path to success almost always passes through education from a good college. When it comes to government college grants, single moms are at a disadvantage since when getting college grants, for single moms, it means adjusting study schedules into other commitments that may include taking care of their children and other additional expenses in addition to the tuition.

It is a well known fact that in the US, student loans are used by many to access higher education. This aid is used by majority of American students to cover their costs of attending college. Recent research shows that there’s been an increase in the number of people opting for student loans as the college fee and relative costs have increased.

Many students heading in to college avail loans to further their studies. Student loans can be used for any college released expenditure, including tuition, room and board, books, computers, and transport costs. Upon completion of the course, many are unable to pay back their loan. It is best to choose the lender and loan most suitable to your requirements, so as to minimize repayment difficulty.

The federal money direct loan program is nicknamed student loan forgiveness program. Originally named William D Ford loan program, it is commonly referred to as Obama student loan forgiveness program. All these programs and its benefits are only for the federal loan borrowers and not for private loan borrowers. Having a person co sign your student loan can get you lower interest rates.

Parent student loan, which is also referred to as PLUS loan or parent PLUS loan is a type of student loan that is offered to the parents of students who are enrolled in a graduate or a professional course or in post-secondary institutions. Taking a parent student loan is a major decision, as it can affect your finances for at least a decade.

If you are going to pay for your child’s college through a parent student loan, you should compare your options before choosing a lender. It is wise to consider both federal government and private lenders that offer parent student loans. Some of them include: Federal Direct Plus Loans The federal government has been offering parent student loans since 1980.