By [http://ezinearticles.com/?expert=Jackson_Summers]Jackson Summers Most parents would want the best for their children especially when theyre start off at college for the first time. So if youre a financially smart parent you would have started saving for you childs college fund when they hit the age of 5. However not everyone is as lucky enough to put aside enough money or even think about college at such a young age. Never the less its never too late to send your children to college even if you cant afford it. You might have heard of college loans or student loans on the TV, newspaper, and telemarketing or maybe from a friend. And yes it actually works and you apply for a college loan from most lenders. However there is a big catch to loans and if you already have a loan with a bank then youll know that interest rates pay a big role in your repayments. That is why as a parent you can help finance your children through college by helping them pay off their college loans. But before you go out and get you kids a college loan youll need to figure out how much money theyll need. Heres a check list of a few things to calculate. 1. Annual college fees
2. Books and equipment
3. Boarding
4. Food
5. Social life (yes they will be going out once in a while too)
6. Transportation These are just a few things to think about when figuring out how much you need to borrow. Once youve determine how much theyll need you need to figure out how many years theyll be in college for. Now that youre ready to get a loan make sure you get the loan under your childrens name because some lenders offer lower interest rates for students. Make sure youre getting a good rate for your loans before you sign any papers and always read the fine print. Suppose your child finishes their studies and wanted to go for another year to do their masters. What do you do and where do you get the money from? You can always get another loan from another lender but what happens if you already have 2 loans going for a third loan is going make your interest rate sky rocket. Thank God for student consolidation loans. If all fails and you really need to get more loans why not consolidate all your loans with one lender. A student consolidation loan can actually save you more money than you think, even up to 50% per month. It works in a very simple manner. When you consolidate your loans youre combining al l your loans with one lender who will offer you a lower interest rate but spread out your repayments for a longer period. It works to cheaper in the long run. Now what are you waiting for send your children to college and stop worrying about funding them. [http://www.consolidatestudentloanscritic.com]Consolidate your student loans today and save up to 60% on your monthly repayments. Find out how you can start saving money and find out more about [http://www.consolidatestudentloanscritic.com]consolidate student loans. Article Source: http://EzineArticles.com/?expert=Jackson_Summers http://EzineArticles.com/?How-To-Finance-Your-Children-Through-College&id=223330 xanax forum online
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