Looking to get the best student loan is a time-consuming and difficult process. Parents are trying to scrape some money to help pay for their child's tuition, and their child is worried about high grades, post secondary admission and the intimidating aspects of campus life. Moreover, students should be concentrating, and worried about their studies, and not obtaining legitimate financial aid, such as a student loan. This is not reality, for most students entering into post secondary institutions.
Most people are unable to afford the heavy tuition costs, due to minimal income, so students and parents have no choice in getting a student loan. For some families, the lack of knowledge and desperation can lead to misjudgments when getting a student loan. Don't panic. You will be able to find a legitimate student loan to pay for you, or your child's education. Feel pressure to access financial help to pay for the costly books, and the high tuition fees for the courses? Calm down, and examine your options with a clear mind. This way, your chances of being scammed, will decrease.
If you receive telemarketing calls, which most of us get, we know the wisest choice is to politely say we are not interested, and hang up. It is not that we are trying to be rude to the person calling us during supper hour; it is a method that should be used to protect us against scams from the companies they work for. Unfortunately, some of the offers they call to give us are so tempting that we listen, and before we know it, they have our credit card number, or the number to access our bank account. This is the case for people who are lured into getting a student loan from one of these telemarketing calls.
Note that not all of the student loan scams are done by using a telemarketer. Discard any mail that has flashy headline that reads one-time offer student loans, or you can't get this loan anywhere else. Watch out for the loan companies that tell you in writing, or over the phone, that you must purchase this student loan several years before your child is able to apply for post secondary education. This is not true. Walk, or drive to your local bank, or credit union, and tell them what this loan company told you. Most likely, they will explain their legitimate student loans, and that you should only think of obtaining one when you or your child has been accepted to a higher academic institution.
Companies that claim to give low-interest student loans with a one-time fee are also using the open market of the Internet. Delete e-mails that say, "student loans for a one-time up-front fee". Companies that sell student loans online are usually trying to obtain your identity, or put a virus on your computer that will record your banking information, if you do online banking. Make sure the company that calls, e-mails, or mails you with information about their student loan services, is affiliated with a legitimate bank, or credit union. There is a slight possibility that this student loan company is legitimate. It is better, however, to get a loan with a bank, or credit union, so you can get assistance if you have difficulties, or questions.
Student loan scams are the most heinous crime of financial, and identity theft. The companies that commit this crime know the desperation, and naive nature of parents, and students. In addition to this malicious incite, they are familiar with the high tuition costs to enter into Colleges, or Universities; thus using this advantage to lure unsuspecting parents, and students into impulse purchasing of student loans. If you are looking for financial relief through a student loan, it is important that you research student loan options at your local library, or financial bank, or credit union. If you arm yourself, and child with information about avoiding these scams, you will be given a student loan from a reputable bank, or financial group that will provide adequate tuition for you, or your child's education.
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