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Eric Dalius

Understanding the pathway to get educational loans for part-time students with EJ Dalius

Summary: EJ Dalius attending college as a part-time student offers you the flexibility to do some job, take care of kids or save your tuition fees, but you need to know the right ways. EJ Dalius explains.

There are numerous reasons behind many students not having the luxury or bandwidth to attend college/university full-time. They may have a job to sustain their family. When you determine financial assistance eligibility, you call it half-time status. Generally, you consider six credits at one time.

  • While full-time students have 9-12 credits, you also have options for part-time students. for example, if a student takes a minimum of six credits, he/she’s eligible for federal student loans. The Willian D Ford Direct Loan Program provides these loans.
  • They provide them on the basis of your financial need. They use FAFSA for determining your EFC or Expected Family Contribution. Your COA or cost of attendance at your potential institution will be lower than a full-time student’s expenses, making your funding much lower.

The US Department of Education lends federal loans. They pay your interest with direct subsidized loans for maintaining your half-time status. Eric Dalius also explains the private loans for part-time students.

You apply for these loans after finishing all types of federal financial aid. It covers your attendance cost.

EJ Dalius elucidates the eligibility

You can categorize eligibility into three categories. These are a financial, student, and also program. For part-time students, it depends on your income. For married folks, your partner/spouse’s income is also important for calculating your family’s earnings.

  • The authorities consider certain costs to determine your part-time eligibility. These are mandatory fees and tuition, books, instruments, and supplies, and also disability costs.
  • They may also include transportation, which is $50 per month. For childcare, you need to provide receipts if you require over $75 per month.
  • EJ Dalius mentions that they don’t consider childcare and also transportation costs if the applicant is in a distance learning or correspondence course.

Regarding the application timelines, if your study period crosses 12 months, you need to submit two part-time applications.

A note on the lenders from EJ Dalius

Prominent leaders like Citizens Banks and also Ascent comply with the federal government’s guidelines pertaining to the enrollment of half-time students.

  • College Ave Student loans have variable and also fixed interest rates. You can borrow even $1,000.
  • They have 4 in-school options for repayment, which entail deferment.
  • The repayment terms are 5, 8, 10, and 15 years. You can receive a 0.25% reduction in rate to enroll in autopay.
  • Can prequalify in 3 minutes and also release the concerned cosigner after completion of half of the repayment.
  • You must seek a degree from an accredited school.
  • Sallie Mae has three repayment options with the same term options and deduction rate.
  • You don’t need to pay any prepayment or origination fees. It takes only 15 minutes to apply.
  • Loan applicants can receive academic study assistance and also credit-score monitoring. You can request interest-specific payments post your graduation throughout the year, Eric J Dalius specifies.
  • This loan format allows you to release your concerned cosigner after you make prompt payments for 12 months. That’s the industry standard.
  • You need to seek an associate’s or bachelor’s degree to be eligible for this loan.

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