| There are many ways a particular individual can save | | | | the borrower. While these savings are typically thought |
| money on their student loan. While some of these are | | | | of as a constant with this type of loan, they are |
| fairly obvious, some are pretty unique, and can provide | | | | sometimes dubious at best. Many times, a zero |
| a person with some real options if they are in need of | | | | interest loan will be a substitute for a cash-back |
| financing. | | | | rebate. When this is the case, it is important to run the |
| Home Equity Loans | | | | numbers, as many cash-back rebates will provide the |
| To save money when purchasing a vehicle, it is | | | | buyer better savings when compared to the zero |
| sometimes wise to avoid a conventional student loan | | | | interest loan. |
| all together, and instead look to alternative methods of | | | | Credit Score |
| financing. The home equity line of credit, or heloc, is | | | | All students should always check their credit score |
| perhaps the best alternate source of college financing | | | | before seeking financing, or completing their FAFSA. A |
| because of the lower interest rates when compared | | | | student's individual credit score is perhaps the most |
| to the interest rates a typical student loan exhibits. Just | | | | important factor lenders look at when deciding on |
| be aware that if you opt for this type of financing | | | | whether to grant you a student loan. It is also the most |
| instead of a conventional student loan that you will be | | | | vital factor in determining your interest rate, and the |
| taking out a note against your home, and this means | | | | other fees associated with your college loan. This is |
| that you will have to make all the necessary payments | | | | why it is crucial to find out your credit score, as having |
| or you may lose your property. | | | | a good score can save you a substantial amount of |
| Independent Financing | | | | money. |
| While the majority of student loan borrowers get their | | | | Leasing a Vehicle in College |
| student loans from the government, this many times is | | | | Leasing a vehicle can provide a car purchaser |
| not the best option. Independent financing can actually | | | | substantial savings because car lease payments are |
| be a better option due to the cheaper price when | | | | typically lower than the payments you would have to |
| compared to government financing, and should | | | | pay for a conventional car loan. Just be sure that if |
| therefore be a serious consideration before one heads | | | | you decide to go with the lease, you don't get stuck |
| immediately to the government. | | | | paying an exorbitantly high down payment, as this can |
| Zero Interest Loans | | | | offset the savings you were to receive by going with |
| Zero interest loans have become very popular over | | | | the lease. |
| the past five years due to their supposed savings to | | | | |