Affordable Student Loans – The Guide

Affordable student loans, is there such a thing? The answer is yes, of course there is, there are many methods available today that make it extremely easy to be able to afford a student loan, even a larger loan.

This article will give you a bit more information on the methods that are available to make your student loans more affordable, or, in other words, you will be able make a molehill out of the mountain.

Let’s take a look at some ways to make this happen:


The good thing about deferment is that it will allow you to complete your education and only start paying back your loan when you either graduate or quit school. This will take a lot of pressure off the 4 years or so you are studying.

One of the things to consider is that you must keep in mind that there will be an accumulated interest component and this will increase your overall costs. In other words, your original loan of say $15,000 might turn into a debt of $25,000 by the time you start to pay it off. (something about ‘no free lunch’ comes to mind.

Difference – Deferred or Normal

Although getting a deferred loan has its advantages the bottom line is what we need to think about. If we were to take out a normal student loan on say about $20k then depending on the term and the interest rates our payment might be about $300 each month,

If we look at the same loan and applied the deferred method of payment, when our first payment is due, it could be about $400 per month or about 25-30% higher.

It is a great idea to use a loan calculator and look at all the options that are available to you. Pen and paper, a calculator and a few cups of coffee is what you will need.


Another thing that is worth taking a look at is the fact that you can use your spare time over your study years to help you to build a passive income.

There are many types of methods to raise additional funds, here are a few of the methods that I have personally used with great success:

Online Business – You can startup your own online business website, there are many methods that are actually free to set up and you can also promote these sites using free methods available.

E-books – Did you know that you can publish a book on the Kindle platform for free? It cost nothing to use this massive money making platform, you don’t need a website, don’t have to pay for traffic in fact the only things you need to publish your book on the kindle platform is a word document of your book and a jpeg image of the cover.

Crowdfunding – Set up your own crowdfunding website, you can actually get a simple piece of software that will transform your website into your very own crowdfunding site. The advantage of this is that you will get to keep all the funds you raise without the fees.

I hope you have found some useful ideas and wish you good luck with your studies.


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