[Types Of Health Insurance]
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Insurance Student's Loan , Have you guys ever heard of Tyler Oakley? Well, Tyler Oakley has heard Insurance Student's Loan , cuz he had 'em. Big time. And so he and his friends at Big Frame have ask to make this for you to explain how student insurance loans work so you know, you guys can has as lightly better life visa visa (?) student loans than Tyler did. Cuz from what I understand,he and his friends found it very confusing being that they're humans and everything. So how do student loans work, and how can you make them work better for you? Part One: The FAFSAAKA Free Application for Federal Student Aid. Now before you thinking about insurance...
actually start looking for loans, you're gonna want to fill one of these babies out, either online or on a paper form,which apparently is still a thing. Did you? I didn't. In any case, huh?Quick note: filling out the FAFSA is FREE! Free! Never pay any scammers who are trying to get your money to fill it out. Go to FAFSA's government website, not FAFSA. com becausethose guys. . . something's fishy. In addition to being used for federal financial aid the FAFSA is also used by state and school funded programs, such as scholarships. Now if you’re in high school, reeer-eer rockand roll, high school here, it's the hippest place in town. Look at me, I'm not a 31 years old man, I'm so hip. I think you can tell. (beep) If you’re in high school then you’ll definitely want to fill this out as soon as possible after January 1st during your senioryear. If you’re not in high school, you still do want to fill it out as soon as possibleafter the New Year. I do want to take a second to emphasize how important this is. Most financial aid is givenout on a first come, first served basis even though it is determined by different factors. So the sooner you can get that FAFSA in, the bettter you chances of getting the maximumamount of aid available to you. And alas, this is not a one time thing, either. Evenwhen you're in school, you have to keep filling it out every year. This is because, you know,your circumstances might change. One of our lovely Tumblr readers said that you can gethelp from the financial aid office which makes a lot of sense and we would highly recommendthat. To actually fill it out your FAFSA, you’re gonna need some documents. There are lotsof different ones, so right now that information is just floatin' around my face right nowbecause powers. Also, don’t leave any blank space on the form, if something doesn't applyto you, just write zero or not applicable and then you're done, you know. Just wrapthat baby in a blanket and smack it on the bottom, cuz we're going on to--Part Two: Types of LoansAfter submitting your FAFSA, there are going to be a number of different loan options. These include:1. Stafford Loans – These are offered directly to you, the student, from the US Departmentof Education. They can be used to pay for many different kinds of higher education. Stafford loans will either be subsidized or unsubsidized, based on your financial need. Subsidized loans mean you don’t have to pay any interest on the loan while you’restill in school at least half-time. If your loan is unsubsidized, you begin accruing intereston the first day you receive your funding. 2. PLUS Loans – AKA “Parent Loans for Undergraduate Students. ” These loans areoffered to the parents of students by the US Department of Education to help fund theirchild’s education. PLUS loans are limited to the actual education expenses minus anyother financial aid received by the student. 3. Perkins Loans – Perkins loans are available for undergraduate or graduate students. Theseloans are financed by your school, but are guaranteed by the federal government. Perkinsloans are based on your financial need and have caps of $27,500 for undergrads, and $60,000for graduate students. When weighing your financial options, PLEASE be sure to look at your interest rate. Evendecimal points of difference can add up to huge amounts over the 10, 20 or whatever yearsduring which you're going to be paying your loans. So read that fine print baby!Depending on your situation, you may also need to apply for private loans. These arekind of tricky. Private loans typically charge higher fees and more interest, but we do knowthat they might be the only option in your case. More info in the dooblydo. Part Three: RepaymentHey, check out that fancy piece o’ paper in your hands! Whoah mama! Aooga! Time topay for it. You're gonna have a few different choices of how to pay your loans back. 1. Original terms - You can repay based on your loan’s original terms. This is typicallya 10 to 20 year repayment plan and it is the most common method. 2. Income-based repayment. This is the second most common type. The terms of your originalloan are restructured to fit into your budget based on your current level of income. Youwill need to reapply ever year for this type of repayment, because your income may be changingyear to year, hopefully going up. Up, up, up, to the moon!3. Deferment - If you can't afford your student loan payment, in some cases you can deferit. Deferment doesn’t get rid of your student loan debt, it simply puts off when your repaymentplan begins. It’s usually only granted to current students, citizens in the military,or if you’re unemployed or are earning less than the minimum wage. Unsubsidized loanswill continue to accrue interest during deferment, so it’s a good idea to make any paymentsthat you’re able to. 4. Consolidation Loans – If you’re now out of school and find your current repaymentplan difficult to manage, you can always consolidate your loans. Consolidating will take multipleloans and simplify them into a single new loan. This can make repayment simpler andcan extend your repayment terms up to 30 years, which will lower your monthly payments, butwill greatly increase the amount of interest you pay over the years. It is super dupes important to stay on top of your student loan payments or to work witha loan servicing company if you know that you can't make your payments, do that as soonas possible. Also, student loan debt does not automatically go away. Even if you filefor bakruptcy! What the crap? Only under very special circumstances are you going to havethese loans forgiven. One of those circumstances is death. So you die, but you don't have topay. Every cloud. . . You may actually be able to get your loans reduced or completely forgiven if you chooseto work in the public sector. You may still have to may 120 on-time monthly payments beforeyour remaining balance is forgiven, but this is a great option for local, state, and federalgovernment employees. Part Four: A Note for ParentsHi parents! It's nice to see you around here. You're looking nice. Would you like this giftcard for Chili's? (laughs) Or these tickets to your Billy Joel concert? Or would you like. . . what's another thing grown-ups like? I'm a grown up (record scratch) Existential crisis!According to Forbes, more than half of all student loans are either delinquent or indeferral. These loans can be for staggering amounts, so if you do choose to help pay foryour child's college education, saving early is A+++. The IRS actually wants you to helppay for your child's education, so they have something called a 529 Savings Plan, whichis kind of like a Roth IRA for saving for your bebes’ future. Not everyone has parentswho are going to be able to help, but I do want everyone to know this option exists tohelp. Part five: Tyler OakleyI'm so excited about this that I spit. I spit in the rainbow arc, with the bad french accent that
goes to Italian sometimes. Tyler, you make me speak in tongues, you make my soulddance, you make my liver quiver. I don't know what to say to you except (kiss)Thank you so much to Tyler Oakley and friends for suggesting the topic of this week's video. In return, I'm so happy to tell everyone that How To Adult will be donating ad revenue from this video to the Trevor Project. The Trevor Project is a 24-hour hotline and resource for crisis intervention and suicide prevention services to LGBTQ young people from ages 13-24. Tyler has supported the Trevor Project for years. It's very near and dear to his heartand to ours, so this is just our way of paying it forward. Thank you so much Tyler, we heartyou. If you guys are looking for a model of awesome adulthood, Tyler Oakley is prettyhard to beat. We'll see you guys next week. I love you bye. (kiss)(endscreen)
[Types Of Health Insurance]
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