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Do I really need a college student loan!

Higher education is a critical tool for building an experienced workforce and for that education you require a college degree. It’s an established fact that without a college student loan its virtually impossible to go through college life. And sometimes it not just one loan but a whole bunch of them. Let’s just take a look at the facts.

 Students who can live on campus, pay room and boarding fees, adding up to tuition, that varies, on an average, from $5,300 to $6,700.
 At four year degree colleges, about 20% of undergraduates live on campus. The everyday expenditure of the students, who live on their own, off campus, or with their parents, will be different depending on their individual situations.
 Annual costs for books and materials ranges from $727 to $807, on an average. There may also be particular fees for laboratory, computer, or library use.
 Colleges include education, room and board, transport, books, fees and incidentals in the student finances, which campus student aid officers use when making a student aid award decision.
 After student aid is subtracted, the total yearly resources for two-thirds of full-time students are under $10,000. For about one-third of undergraduates, the annual plan is about $5,000.

After listening to these facts you’ll probably have realized the importance of a college loan. Even if you have got a grant, which does not have to be paid back, please remember that the grant by itself will not cover the incidental expenditures like books, an occasional meal out with friends ,clothing and numerous other household expenses which build up slowly

COLLEGE IS EXPENSIVE!
With the average student loan debts clocking in at $19,237, according to the National Post Secondary Student Aid Study (NPSAS), federal loans are definitely going to be a part of the college finance plan and your college life.

In order to have a rather comfortable college experience, you will need money and many students find that student loans are the answer. However please remember that these loans have to paid back, and the bigger the amount the harder it is going to be to pay back.

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Types of Financial Aid
Financial aid refers to the large assortment of programs that help students and families pay for college or graduate school. Financial aid is available in three forms:
1. grants and scholarships which do not need to be repaid;
2. loans which have to be repaid
3. work-study programs which offers aid in exchange for work, usually in the form of campus-based service.

So depending on which is comfortable, you can choose a good college student loan to help you out in your student education.