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Getting Student Loans Massachusetts

Student loans are a great way to pay for your higher education. In order to learn good ways to get loans, read the following article.

1. Local Companies

2. Getting Student Loans

3. 2009 Stimulus Plan

4. Featured Local Company

1 . Local Companies

Century Bank
(617) 423-1490
24 Federal Street
Boston, MA

Eastern Bank
(617) 897-1010
265 Franklin Street
Boston, MA

Salem Five Bank
(978) 745-5555
210 Essex Street
Salem, MA

Wainwright Bank and Trust Company
(617) 526-0170
63 Franklin Street
Boston, MA

Liberty Bay Credit Union
(617) 439-6500
131 Oliver Street
Boston, MA

Metro Credit Union
(877) 696-3876
200 Revere Beach Parkway
Chelsea, MA

Bank of America
(617) 728-1626
290 Northern Avenue
Boston, MA

Century Bank
(617)3495300
2309 Massachusetts Avenue
Cambridge, MA

Citibank - Porter Square
(617)4983249
1815 Massachusetts Avenue
Cambridge, MA

North Cambridge Co-operative Bank
(617)8765730
2360 Massachusetts Avenue
Cambridge, MA

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Student loans are a great way to pay for your higher education. The best thing about many student loans is that you can receive a deferment of payments until you have been out of school for 6 months. Once these 6 months are up, payments are generally placed at an affordable monthly rate. There are several different kinds of student loans out there, which are offered by many different loan companies. There are loans that are secured by the government and those that are not. The steps below outline how to receive a government-backed student loan, an option that should be evaluated before you seek out other loan alternatives.

Fill out the Free Application for Federal Student Aid (FAFSA). This is a requirement to qualify for federal grants and government-backed student loans.
Once you fill out your financial information, you will learn what your Expected Family Contribution (EFC) is. This amount will be used to determine whether you qualify for a Federal Pell Grant. For example, if your EFC is $0, you will likely qualify for the maximum grant amount. Grants do not need to be paid back, but there is a limit on how much grant funding you can receive per year. Although this amount may not pay for your entire class load, it can still help supplement your student loans so you will have less to pay back after you graduate.
If you do not qualify for a grant or if the grant is not enough to pay for your class load, you may be able to receive a subsidized Stafford loan (a loan where the government will pay all interest incurred until 6 months after you graduate) or an unsubsidized Stafford loan if you do not financially qualify for a subsidized loan.

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Author: Julie Bonner

3 . 2009 Stimulus Plan

Starting in the 2009 tax year, under the American Recovery and Reinvestment Act (ARRA), more parents and students will qualify over the next two years for a tax credit, the American Opportunity Credit, to pay for college expenses.

The American Opportunity Credit is not available on the 2008 returns taxpayers are filing during 2009. The new credit modifies the existing Hope Credit for tax years 2009 and 2010, making the Hope Credit available to a broader range of taxpayers, including many with higher incomes and those who owe no tax. It also adds required course materials to the list of qualifying expenses and allows the credit to be claimed for four post-secondary education years instead of two. Many of those eligible will qualify for the maximum annual credit of $2,500 per student.

The full credit is available to individuals whose modified adjusted gross income is $80,000 or less, or $160,000 or less for married couples filing a joint return. The credit is phased out for taxpayers with incomes above these levels. These income limits are higher than under the existing Hope and Lifetime Learning Credits

Click here to read more from irs.gov

Click here for application form

4 . Featured Local Company

Century Bank

(617) 423-1490
24 Federal Street
Boston, MA
http://www.century-bank.com/index.html

Read more about Getting Student Loans

- All about Student Loans Massachusetts

A student consolidation loan is an unsecured loan made by lenders that receive government underwriting assistance. Without this government assistance, student loans would not be very practical. Lenders would find other more profitable arenas in which to loan their money.

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Regional Articles

- Direct Loans Massachusetts

If you're applying to college or currently attending college, you or your parents may be eligible for a direct loan. The following article explains what these loans are and how you can get one.

- Student Loan Consolidation Massachusetts
- How to Get Student Financial Aid Massachusetts
- Pros and Cons Of Private Student Loans Massachusetts
- Personal Finance. Credit Agencies Refused Access To Information About Student Loans Massachusetts
- Student Loan Debt Consolidation Massachusetts
- Post-Bankrupt Student Loans Massachusetts
- All about Student Loans Massachusetts
- Post-Bankrupt Student Loans Massachusetts
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Getting Student Loans Massachusetts

1 . Local Companies

2 . Getting Student Loans

3 . 2009 Stimulus Plan

4 . Featured Local Company