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Career Advice For Young People - Financial Aids for Students

Posted on Jun 14, 2013 with 1 comment

Jun 14, 2013

If you are aged between 16 and 19, and wish to continue studying or are about to get into work-based training, you can avail financial aids to help you pay for your education.

Education Maintenance Allowance (EMA) is applicable to those aged from 16 years to 19 years and in full-time education. Under EMA, expenses for books, equipment or travel are covered. The allowances vary according to the household income of the families. To receive this amount, you will need to have a bank account. The money will be deposited into this account directly.

A university education can be costly, but there is financial help you can seek. Higher studies are like long-term investments. A little expenditure here will ensure a secure career for the child. There are two kinds of costs for university education- one is the tuition fee and other is the cost of living. Both can be covered through student loans, bursaries and grants.

Student Loan is the easiest and cheapest form of loan that can be borrowed. The interest rates vary according to market trends that can be to your advantage. There are two kinds of loans- for tuition fee and cost of living. Make an estimate of the amount you will need for university funding. You can take a PPI along with the loan to insure the repayment. To know more about this policy and any other insurance information, kindly contact national insurance number.

For those of you who dropped college to look after your new born child, getting back to education has become easier. Thanks to the ‘Care to Learn’ scheme, the cost of looking after your baby can now be covered. Travel expenses are also taken care of in this scheme. A complete education will help you support your family better in the future.

The best way to know what career path is best for you is to take on an apprenticeship. You will gain experience from skilled professionals, get wages and may choose to study as well, though not full-time. You can apply for an apprenticeship if you are over 16, and are eligible to work in England. First, look for apprenticeship vacancies on websites, then register and apply. Depending on the apprenticeship, the term can be from one to four years.

If you have a disability or learning difficulty that is adding to expenses beyond usual university fee, you are eligible for financial aid. A physician’s written diagnostic report may be required. For further advice, contact a local Learning and Skills Council or National Bureau for Students with Disabilities. You may also be eligible for Disability Living Allowance, Income Support and Incapacity Benefit if you are disabled and working.


Student Finance - Best of Finance Options for Students

Posted on Jun 9, 2013 with No comments

Jun 9, 2013

Funding college education is not cheap. Tuition is expensive. Paying for college education can be a difficult endeavor for many students and their parents. Tuition for private college is especially expensive, though public schools also require a huge amount of money to attend. It is important for students to find and take advantage of all available financing options, including those available from the government and private lenders. Students have several options when they need to obtain financing for their college education.

Student Loans

This is one of the most popular types of financing options for students. These incur interest over time and often require students to make payments on the loans starting six months after graduation. Two types of student loans are available, and these are government and private loans. It is important to pay close attention to the terms and conditions of the loan. Federal loans can be either unsubsidized or unsubsidized. Unsubsidized loans incur interest while you're still in school, and the government pays the interest on unsubsidized loans until after you graduate or Leave College. Interest rates on private loans are higher than those of federal loans.


Students may also finance college education by using scholarships. Most institutions, if not all, offer a number of scholarships, and each institution has different criteria for students who are eligible to get them. Typically, a certain GPA is required. They may also require community service project, an essay, or specific field of study to receive them. Students are not required to pay back scholarship money since it is not a loan. Many private scholarships are also available.


Students can also get grants to finance their college education costs. These monetary awards don't need to be repaid. The federal Pell is a popular grant available to students to pay their tuition expenses. This is given to students who have financial need. The amount offered to a student depends on the student's need, although there's a maximum offered.


This is one of the most important resources for college financing. FAFSA stands for Free Application for Federal Student Aid. This is online application is filled out each year using students' and parents' tax filings from the previous year. The application is reviewed, and the student is given a certain amount loan or grant, depending upon need and income.

These finance options will enhance your chances of obtaining a good education. Once you have obtained the finances you need for your college, you can then stop stressing yourself over the financial aspect and concentrate on getting proper education.

Apart from the above options if you have considered taking a student loan or personal loan then try purchasing it along with PPI which stands for payment protection insurance, so that you can make claim if you are unable to repay the loan amount on time due to critical health emergencies, unemployment and disability.

Borrowing From Friends and Relatives - Is it Worth It?

Posted on Jun 5, 2013 with No comments

Jun 5, 2013

They say you should never mix friends and business, and there are many good arguments for this. When you are handling a business then it's critical that personal feelings and relationships don't get in the way of making the right decisions, while at the same time it's also not great for the friendships in question if you end up angry with someone because they made a decision that lost you money.

Even worse though is borrowing money from friends, and if you do this then you should be prepared for there to potentially be a strain placed on your relationship even if you don't necessarily feel it.

The Problems

The problem with borrowing from loved ones is that they won't feel like they can organize it in an 'official' manner. When you take out a loan with a loan company, you of course begin by agreeing the APR, the repayment structure and more - which means that there are no confused messages. With a friend or a relative though, they'll feel obligated to say 'just pay it back whenever', even though they won't necessarily want to. This then means you'll be under pressure to pay it back all the time while they'll start asking questions right away in their mind as to why you're not already making motions to repay the money. Likewise though, they won't want to say anything about that, and so nothing will be said at all until it's too late and they're very upset (at which point it might come out all as one long rant).

Another problem is that when you take out a loan from a lending company, you won't be rubbing your lifestyle in their face all the time. Hopefully you are going to continue seeing your friend on a regular basis which means they might start asking themselves how you afforded that nice new jumper - and if they don't then you may still worry that they are.


The same goes largely for family, but there is one fortunate exception - parents. First of all your parents will be less loathe to give you the money - it's part of their 'role' as your folks, and if it means you'll be happier and better off then it means they will be too. Furthermore, your parents have no qualms about telling you when they think you're being stupid because they've done it their whole life. Still though, that doesn't mean you should take advantage of your parents and if they have money troubles of their own you should be conscientious not to give them more to worry about.

If you do borrow money from other friends and relatives meanwhile then you should make sure to draw up strict terms and conditions just as you would from a lender. In other words agree how and when you are going to repay the money, and agree an interest rate that's fair while still being worthwhile to you.

Of course though, in most scenarios it's just better to avoid the whole sordid mess and to take out a loan with the professionals instead. After all, it's what they're for.


Credit Cards for Students - Your First Step into the Financial World

Posted on Jun 4, 2013 with No comments

Jun 4, 2013

If you are a college student, your requirements are different from that of your parents, thus the credit cards should also be different. Student credit cards are gaining increasing popularity with the youth. Whenever you are taking a student credit card you should take from a company which is a reputable source for easy loans. the best part of student loan is that they have amazing perks and rewards on the money that you will be spending. Also, if you have a student credit card, it will help you to start establishing a credit score from an early age. These student credit cards pays you back on common expenses for students such as textbooks, restaurants and music. Some of the best student credit cards that you can use are given below.

Discover Card for students

This card offers you some alluring prospects such as a 5% cash back on a variety of categories, up to $1500 spent a quarter and a 1% cash back in all other places for unlimited purchases. But this is not what is best of Discover cards. The paramount features of this card are that it doesn't have any penalty interest rate and also the first late payment fee that you incur will be waived off. also if you are travelling abroad to study you can take the Discover card as your companion as it doesn't have any foreign transaction fees. However, it is not accepted in all countries

Citi Forward card

This is more of a fun card! For every fun activity that you would like to do as a college student, you would get a perk with this card. You will be gathering 5 Thank You points for every $1 that you spent on entertainment and at restaurants. You will also get 1 Thank You point for every 1$ that you spent on other things. Also, along with these, you won't be charged any annual fee and an introductory APR of 0% for the first 7 months. This is mainly done so that you are not overwhelmed with your first steps into the world of finance. other perks include a reduction of 0.25% purchase APR every three months up to 2% if you make all your payments on time and stay below the credit limit. And for every year you act in accordance with this, you get additional 1200 points. However, there is a small downbeat about this card, that is a cap of 75,000 Thank You points.

Other than the above two, there are other student credit cards available too. However when you are choosing a student credit card you should know how to make the decision. If you take a rewards card, you have to make sure that you pay your bills on a regular basis. The interest rate is generally higher on these cards. However, if you spend smartly and in a responsible manner you can get advantages like cash back and points on your purchases. If you are the type who will carry a balance, then a low APR card is what you should get. Rewards cards would be of absolutely no use to you.

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