Finance You Studies 

Student Loans and Scholarships

Most students graduate with a huge student loan to repay and so it is a very good idea to start out by investigating the types of educational funding available to you before you start. this could include student grants, students loans and scholarships.

If you do end up taking out a loan, you want to make sure that you get the best possible terms and conditions. So it's important to understand the different types of student loan in advance and to understand the process of loan repayment.

Most career change involves an element of retraining and, in some cases, taking on a major commitment such as a first or postgraduate degree.

Whatever stage of your life you are at, funding your college education can be expensive and this is particularly the case if you are a mature student with responsibilities such as a family and mortgage.

Often, any form of study involves taking out a student loan and it is important to be sure this will be worthwhile in the long run. so whether you are starting a college course yourself or a parent helping to fund your child's education, you need to do your background research on student loans and student loan repayment.

How can you ensure that further training is cost effective, that taking out a loan is the right thing to do and that you will be in a position to repay your loan once you complete your studies? The first thing to do is to research your intended pathway with great care.

You don't want to get into debt and then find the qualification you've worked hard for is worthless. Contact employers, professional associations and your local careers guidance service to make sure the course you are doing is recognised and relevant to what you want to do.

Once you've established that you're on the right track, work out approximately how much the course is likely to cost. This includes all your expenses. So not just college fees, travel and books - don't forget about living expenses: accommodation, food, other necessities and some money towards entertainment.

You probably won't be able to come up with an exact figure, as the cost of living will change and you may take longer than anticipated to complete parts of the course, or decide to study additional modules as you go. However, you should be able to come up with an estimate for each year of your course.

Then look at your income and outgoings, if you are in work or will have a part-time job. Will you have to cut back on the number of hours you work to make time for your studies? Do you have a partner who can take over some of the responsibilities or contribute to your college fees or living costs? Or are you still dependent on your parents and will they be able to help fund your studies?

Make a list of outgoings and income and get a realistic picture of how much extra cash you need to fund your studies.

First of all you need to be aware of the differences between student loans and scholarships and grants. Like any other loans, student loans have to be paid back, but scholarships and grants do not. So it's a good idea to start looking for any scholarships or grants you might be entitled to and to get your application in early.

Now that you know what you need, how do you get your hands on it? This will depend on your individual circumstances and where you live.

US College Scholarships

US Student Loans

UK University Grants

UK Student Loans