University admissions favour communication and passion
Education is often termed as the key to success, but student loans could be considered the vehicle.
10:31 21 June 2013
There has been more scrutiny recently of the university system and the process used to select candidates. A survey of admissions representatives revealed that many universities may not consider backgrounds when analysing candidates.
It appears that a decent education, regardless of background, and the ability to translate that education into an adequate statement of passion for learning and a particular subject, goes a long way in gaining acceptance.
One of the more concerning aspects of university is the cost. Once students obtain acceptance they have to figure out how to finance the education, whether it be grants, scholarships or student loans.
Here are a few ideas when it comes to student loans.
• Keep everything—you may have a variety of paperwork or electronic documents. Print out paper copies, keep the electronic ones and keep everything is an organized spot that is just for your student loans and anything directly related.
• Know your interest—it’s easy to get wrapped up in studies and forget the student loans that will need to be paid after you’ve completed your coursework. Keeping an eye on the interest rates for student loans could literally pay off.
If you notice that there are better interest rates among some banks, you might be able to refinance with them for a better rate and lower payment, but this would change the loan to a personal loan rather than a student loan. Consider the pros and cons, and ask about repayment options before making this type of decision.
• Repayment—this doesn’t have to be a looming hurdle. Check with your student loans to find out the options you have available for making payments. Many times you might be able to find out the effect of making payments while you’re taking classes.
This can be a good way to significantly reduce your student loans before you obtain your degree.