Many people choose not to attend
college not because they are dumb but simply cannot afford the
education. Many individuals believe that they do not qualify of
scholarships and simply give up the dream of attending college. There
are numerous misconceptions about college loans as well. College
loans are an excellent way to pay for school without having to added
stress while in school of how to pay for it.

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You need more money for college. Do you whip out your credit to pay tuition or do you apply for a federal student loan. It is time to weigh out the options.

• With a federal loan, your interest rate will be low (around 5.125) and your payments will be deferred for 6 months after graduation.

• With a credit card, the interest rate can be as high as 21%. Interest begins accruing almost immediately, and you need to begin paying off the bill the next month.

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I have heard it said that education is the best investment. Whoever said that could probably afford their college fees. Don’t get me wrong. Certainly I am all for higher education. At the same time, I am not a votary of being under unnecessary debt. This is where the contradiction arises.

What complicates this conundrum is the fact that if you go to college, you are more likely to be able to pay your debts. So you have to get an educational loan (and a college education) to be able to repay loans in the future. I guess you can see why I call it a conundrum!

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Federal Education Services, a federal student loan funding company, offers a Graduate PLUS Loan Program that extends directly to graduate and professional students the same benefits that traditional PLUS loans extend to the parents of undergraduate students. The Graduate PLUS loan is a federally sponsored student loan that offers generous borrowing limits. Graduate and professional student borrowers can cover the full cost of their graduate education (less any financial aid received), including tuition, room and board, books, supplies and even computers.

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