...Manageable Student Loans FP/101 Manageable Student Loans After completing steps 1 to 3 in the tuition fees calculator for my current Associates Degree, I came up with a total tuition of $15.300 over a period of 14 months (Appendix A). Luckily I will not need to take any kind of loan for this amount as it is possible for me to invest the monthly portion of $1092 from my income. Nevertheless looking at the tuition fees for my upcoming Bachelors degree, which is amounting to a total of $37.000 (Appendix B), I will definitely need to take up a loan for at least part of the tuition fees. Students in the United States of America do have a variety of options to reduce their loan amount. Often employers are willing to pay for part of your tuition when your studies support your function at work. Furthermore students can apply for Scholarships and grants; those options do not need any kind of repayment. Besides that you may qualify for Military benefits if any family member “if you are active duty, a member of the Reserve or a member of the National Guard, you may eligible for military tuition assistance” (University of Phoenix, retrieved February 23, 2013 from https://www.phoenix.edu/tuition_and_financial_options/explore-options-to-pay-for-school.html#url=scholarshipsAndOtherBenefits%7C1). Also one should consider asking family members to help funding your studies. As I am currently already saving some small amounts towards my Bachelors Degree, I can definitely cut back on...
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...Consumer Information Guide 2015–2016 August 2015 Table of Contents Consumer Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 About University of Phoenix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Accreditation, Licensures, Reviews and Approvals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Federal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Regional Accreditation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 State and International Licensures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Program Accreditation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 School of Business/Business Programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 College of Health Professions: School of Nursing . . . . . . . . . . . . . . . . . . . . . . . ...
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...of banker & customer take the form of creditor and debtor. Standard Bank offers different types of loans and advances, which are mainly, categorized under 2 heads, namely Small Enterprise Loan & Consumer Financing. The various types of loans that fall under the category of Small Enterprise Loan are: Easy Commercial Loan, Retailers Loan, Transport Loan, Commercial House Building Loan, Possession Right Loan, Contractor’s Loan, Letter of Guarantee, Working Capital Loan, Letter of Credit, Loan against Imported Merchandise, Loan against Trust Receipt, Builders’ Loan, & Project Loan. And the loans under Consumer Financing are: Easy Loan, Consumer Durable Loan, Parua Loan, Thikana Loan, Flexi Loan, Peshajeebi Loan. This report highlights the loan policies of Standard Bank Limited; explain different issues regarding the disbursement of loans such as: sector where loans are provided, purposes of the loan, eligibility to get loans, documents required, interest charged on loans, & also the rate of penal interest in case of late repayment. From my observation, some weaknesses of the loan policies of Standard Bank Limited are detected, such as high interest rate, charging of loan processing fee, penal interest, maximum size of the loan is small, maximum term of the loan is low etc. And finally, few changes are recommended in the policy to remove the pitfalls & to improve the overall loan policies. 1.1...
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...AlbertCan Drilling Supply Company (ADSC) This company has done well for the past years and based on forecasts, it is looking at a very bright future in terms of growth and sales. The approach of owner-manager Mr. McDonald has been focused on word-of-mouth advertisement and high responsiveness within the local oil drilling industry in Alberta. Given the fact that most of its customers place their orders on an urgent need basis, ADSC has chosen to hold high levels of inventory to address the customers orders with a high degree of responsiveness. However this key selling point of the business model of ADSC has become a serious financial hindrance, causing liquidity problems now that they face growth levels of 25% in sales. ADSC is therefore forces to looking at options to touch up its finances. Liquidity A growing business does not necessarily mean a profitable business. Even though Mr. McDonald has taken great comfort in the growth forecasts and the firm’s capacity, the profits the firm generates are not able to sustain the growth of the company. The fact that ADSC committed to increase its inventory along with its growth anticipations and an extended collection period for their customers, are the root causes of ADSC’s liquidity problem. Inventory – According to Mr. Mcdonald, holding a large amount of inventory is an intrinsic part of the strategy and is a key selling point. It’s important to highlight that not only is the inventory growing at a high pace, inventory holding...
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...US LOAN SUPPORT This Service Agreement is entered into on the date shown below between US Loan Support (USLS) and Customer: USLS provides processing and support services to assist consumers who are applying for Federal Student Loan Consolidation Services through the Department of Education (DOE). USLS is a private company, not affiliated with any government agency, and for a fee USLS will assist in assembly and submission of student loan consolidation documents. USLS is not a lender, a law office or a debt consolidation company. Customer requests USLS to perform, in good faith, the following services, (“the Services”): 1. Perform a financial review of the Customer’s current situation, 2. Analyze and determine the applicability of potential Student Loan Consolidation options that may be available to Customer from the DOE, 3. Present and discuss the various options with Customer, 4. After an option has been determined, prepare, submit and process a Federal Student Loan Consolidation Application with the DOE, on the Customer’s behalf. 5. After completion of consolidation, USLS will to contact Customer monthly. In the event of a change of Customer circumstances or change in government programs USLS will assist client in reapplying if it benefits Customer. 6. Approximately one year from the consolidation USLS will work with Customer to reapply in an effort to make Customer’s payment as low as possible. IN CONSIDERATION of the promises and covenants of the parties to this Agreement...
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...Map Contact Advertise About • • • ©2016 StudyMode.com 1. Home > 2. Debt > 3. Student Loan Crisis... < Back to Debt Student Loan Crisis Research Paper Debt, Education finance, Higher education • • • • By sympathys Jun 11, 2013 1348 Words 220 Views PAGE 1 OF 5 �PAGE � How to Make College More Affordable Many of the protesters occupying Wall Street and other places say they are upset about the rising price of going to college. There is little dispute today that the number of students who have debt has increased, and that the amount of money they have borrowed has gone up (Billitteri). Many students incur large amounts of debt that will never pay dividends in higher wages or greater job satisfaction, and they graduate into a world with weak employment prospects. It's a betrayal of the American social contract that says if you work hard and invest in yourself through education, you'll be able to build a better life. The current system is badly in need of an overhaul, and this paper will present several ways to bring about this needed change. The seriousness of the current situation has worsened during the last few decades. Since 1982, the average cost of college tuition and fees has increased by 439 percent, while the typical family's income has increased by a mere 147 percent (_Measuring_, 8). After adjustment for inflation, students are...
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...Worksheet Many students borrow federal student loans to pay for college. The goal of this assignment is to help you learn how to borrow responsibly, which may mean that you do not borrow at all or that you borrow only what you truly need. To borrow responsibly, you must understand your options and establish a financial plan for your entire program. With that plan in place, you can then focus on your classes and making connections with instructors and other students. There are three steps listed below for this assignment. Respond to the questions for each step in this worksheet only and submit your completed document to the Assignment Files tab. Step 1 Watch the “Responsible Borrowing (Financial Aid)” video on the orientation website located here: http://www.phoenix.edu/student-orientation.html. Respond to the following three questions in the spaces provided below: 0. What is financial aid? Funding assistants come from a outside source. 0. How do grants differ from loans? Grants you don't have to pay back, loans have to be paid back with interest. 0. What effect does class attendance have on funding availability? It may delay or cancel classes. Step 2 Navigate to the Personal Finance category of the GEN/127 PhoenixConnect® Community. Explore the resources provided and view some of the discussions shared by the community members. Respond to the following two questions in the spaces provided below: 0. What did you find about student loan repayment plans...
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...been seen as a path to the middle class and beyond. A ticket to a decent paycheck, standard of living and career advancement. Recent coverage however has highlighted massive student debt, opportunity costs, and a wave of flashy entrepreneurs who are drop outs. This begs the question of whether college is still worth it. The fact of the matter is for most Americans college is worth it more than ever. If you’ve looked into the matter you’ve probably seen the much-bandied-about statistic that student loan debt has topped 1 trillion as of 2013. While this is a massive number some 300 billion more than outstanding credit card debt it becomes more manageable when looking at debt per borrower. Horror stories about jobless graduates with over 100,000 in debt are the exception, not the rule. Only 3% of borrowers owe more than 100,000, and only 1% owes more than 200,000. Keep in mind that these debt numbers include students graduating from professional or medical schools as well. And both professional and medical schools are known for higher levels of student debt, and higher payoffs in salary and job security. Perhaps not indefinitely. But for now the answer is a definitive yes. Through the recession, an increase in student loans taken out was...
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...There are multiple avenues that student can take to reduce the amount of money that they need to borrow to cover their education costs. Two of the most popular ways would be to apply for grants or scholarships. These two options are the best to try because these do not need to be re-paid back. Applying for scholarships and grants are very easy and usually require you to write an essay stating why you feel you should get the scholarship. Another option is to use money from your savings account. The more money you put into your education, the less you will need to borrow toward your education cost. Because of my current financial situation, I thought that I had no choice but to borrow more than what I wanted to cover my education expenses. I had no money in my savings account and had a real hard time trying to find scholarship that I was qualified to apply for. I am still having troubles with that aspect to this date. It seems that most of the scholarships require you to have a GPA score which I have not acquired yet at this time. I did however managed to cut down a big chunk of my education costs by applying for a Pell grant for which I was approved. This has saved me a large amount of money that I will not have to pay back after I graduate. I intend to keep trying to get scholarships and using that scholarship money to pay off my student loans while I am attending school. The most important thing that we all need to keep in mind is that 6 months after we graduate...
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...It is unfortunate that many students and their parents will pinch pennies and borrow heavily to pay for a good college education. For many families obtaining a college degree is very important to them no matter how much debt they are put in. Applying for federal student loans is becoming the norm to cover the cost of obtaining a college education. Students have to borrow more and more money to cover the cost of higher college tuition rates. Currently, the interest rate for a Federal Stafford Subsidized and Unsubsidized student loans is at 3.4 percent, however, as of July 1, 2013, the interest rates on Federal Stafford student loans will significantly increase from 3.4 percent to 6.8 percent making it even more expensive for students to pay for college this fall. President Obama is working with Congress to keep the student loan interest rates down to 3.4 percent to keep it affordable for students (Lucas, 2012). So what is the problem? If Congress doubles the federal student loans interest rates, students will not be able to afford to pay for college. And college is sometimes not the only thing that students have to deal with. Student loans can put students with long-term burdens and stresses that in the future may affect their choice in jobs. Many students have to take care of other monthly bills like electricity, water, phone, rent, and possibly a mortgage. Nearly 10% of federal student loan borrowers failed to make a payment on their loans in 2010. Much of the increase...
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...Grad school has its benefits. People with advanced degrees tend to earn bigger paychecks than those who have only an undergraduate degree. They’re also more likely to land a job — and less likely to end up on their parents’ couch. But those perks come at a cost. For some it might mean temporarily giving up a paycheck, something they’ve gotten used to in the working world. And graduate students, who often reach this next milestone without the help of mom and dad, account for about 40 percent of the $1 trillion in outstanding student loan debt, according to the New America Foundation. Ideally, people will come out with the potential to earn a much bigger paycheck and to reach a point in their careers that wouldn’t have been possible without the advanced degree. The jobless rate for people with master’s degrees was 3.4 percent in 2013, compared to 4 percent for people with a bachelor’s, according the Bureau of Labor Statistics. Median annual earnings were $69,100 for people with master’s degrees and $57,600 for those with a bachelor’s. But the payoff varies. “The general conclusion about graduate degrees is that they do improve earnings,” says Anthony Carnevale, director of the Georgetown University Center on Education and the Workforce. “There’s almost no doubt about that.” Still, he points out: “That doesn’t mean there aren’t some turkeys in the mix.” Indeed, outcomes vary by major. Working as an engineer? Getting a graduate degree will probably lead to a big raise. For a...
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...remainder of the money she has left after everything is paid for. Students can pay for college in many different ways. Students can pay with grants and scholarships, which is money she does not have to pay back upon graduation, and then there are loans. You have subsidized and unsubsidized loans, private loans and the highly controversial parent-plus loans. What is a parent plus loan? A parent-plus loan are federal loans that graduate or professional degree students and parents of dependent undergraduate students can use to help pay education expenses. In order to receive a Direct PLUS loan, you (or your child, in the case of parent PLUS loan borrowers) must complete the Free Application for Federal Student Aid (FAFSA®). The school's financial aid office will provide instructions about their process for requesting a Direct PLUS Loan. Many schools require that you request a Direct PLUS Loan at StudentLoans.gov. The request form has a list of schools that participate in the Direct PLUS Loan program; if you select your/your child’s school from the list, the site will notify you if your school does not use the StudentLoans.gov process. If that is the case, you should check with the school to find out how to request a PLUS loan. In order to apply for the loan, In order to receive a Direct PLUS loan, you (or your child, in the case of parent PLUS loan borrowers) must complete the Free Application for Federal Student Aid. The school's financial aid office will provide instructions about...
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...by understanding exactly what is going on. Once the problem is identified, the rest of the process will feel more manageable. Discovering how the problem all started is the next leading thing to the process. Thinking critically will help anyone start a list. When the list is created you can now figure out how to solve the problem that you are having. Now it’s time to evaluate what is the best option to the solution. Critical thinking becomes your best tool here. The best part of it all is doing what needs to be done to get the problem resolved. Almost everyone is confronted with financial problems during his and her lifetime. Whether these problems come from major college debt, bankruptcy or not being able to find a job that sustains your lifestyle, everyone needs to face his or her financial problems and deal with them appropriately. Ignoring financial problems only makes them worse, but bracing the issue won't always be the easiest thing to do, but in the long run, it can significantly improve your life and teach you about responsibility. You should treat everything you do like a financial investment. This allows you to make good spending decisions as you work toward fixing your financial problems. First I look at my financial situation closely. It is important to determine the exact cause of financial alarm. Is your credit debt too high? Are your student loans breaking the bank? Have you spent too much money on a vacation, or have you lost money in the stock market? Make...
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...federal funds rate to discourage banks from borrowing directly from the Federal Reserve, unless all other options have been exhausted (Colander, pp. 348-349, 2010). Banks have the option to borrow from other banks and here is where the federal funds rate would come into play. The state of the economy guides the Federal Reserve in adjusting the discount rate, and this rate is an excellent tool to manage the money supply. If the economy is slow, a lower discount rate can jump start spending throughout the United States. One the other hand, rapid growth can cause alarm and lead to inflation. So raising the discount rate will slow the economy to avoid this. A good thing to remember is that rapid growth can be harmful while steady growth is manageable and desirable. Not all growth is positive. The current and projected future of the economy influences the Federal Reserve's decision in adjusting the discount rate. This adjustment will then influence...
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...Introduction to the University Essay Like many undergraduate students, you are probably aware that university essays should be “different” from high-school essays. However, you may be unclear on what this difference ought to consist of. What, for instance, distinguishes the standard high-school approach to essay-writing, the five paragraph approach, from a university-level approach to essay-writing? This module will guide you through the process of moving beyond the five paragraph essay. | |The Five Paragraph Essay The five-paragraph approach has two major limitations. First, the approach produces extremely simple essays. Second, the approach is very formulaic. The five-paragraph structure can only articulate a very simple form of argument, involving a major claim and three supporting claims. In order to avoid being limited to this argument-form, the student requires the ability to build the structure of an essay around her own ideas. This ability requires an understanding of how the essay works, not knowledge of an essay-writing formula (like the five-paragraph essay). The Essay An essay is a written defense of a position (a thesis) on a topic. A good essay-topic will motivate a line of inquiry that is manageable for the essay-writer. To this end, it is extremely important to ensure that the topic is adequately narrow. A thesis is the concluding point of the line of inquiry motivated by the topic. Thus, a thesis is not a restatement of a topic. The thesis of your essay...
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