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Online college student loans can be a life-saver while you're in school, but too much educational debt can sink you later. Be careful when choosing among online education loan programs.  Watch how much you borrow, and from whom.

GetEducated now about online student loans. Our online college financial aid guide provides tips on how to protect yourself while making your distance degree a reality.  Learn how much you can safely borrow using an education loan program. Safeguard your future by following our advice on whether home-equity and pension based online student loans are wise ways for adult students to borrow. Learn how to work with your online school's financial aid officer to make your online degree or certificate more affordable. And learn how to spot and avoid online education financial aid scams.

 



 
Should You Get a Student Loan to Attend Online College?
Online College Financial Aid  >  Online College Student Loans
By GetEducated.com Consumer Reporting Team   
 
Ivan Sanchez is two months behind on his online college student loan repayments. He owes $1,400, and soon will owe nearly $2,000. He has a new baby—his third—at home, and just $300 in the bank.
Five years ago, Sanchez earned an online associate degree in networking and security from EPCI College of Technology plus an online bachelors degree in management from the University of Phoenix Online, in hopes of advancing his IT career. While his employer chipped in $15,000, Sanchez was left owing college debt of $45,000.
Sanchez was promoted, but his $10,000 raise wasn’t enough to keep up with his online college student loan payments.
Sanchez is not alone. Nearly half of all students graduate from online college degree programs with unmanageable student debt, according to Marc Scheer, author of No Sucker Left Behind: Avoiding the Great College Rip-off.

The big question: Will online student loan debt be worth the final price of an online university degree?
Learn more about useful student loans for online college...
 
Pensions and Home-Equity Borrowing for Online Education Loan: A Bad Idea?
Online College Financial Aid  >  Online College Student Loans
By GetEducated.com Consumer Reporting Team   
 
Life coach Victoria Krayna has financed six college educations, including her own. She, her husband and her four kids have learned plenty. One of the most important lessons of all those years of education: Use student financial aid wisely—life is unpredictable.

When Krayna’s son’s tuition disappeared in the post-9/11 market crash, Krayna and her husband refinanced their home to pay for his education. It might have been a successful strategy, says Krayna, but then her husband was hit by a car and incurred injuries that affected his personality. After 28 years of marriage, the couple divorced, leaving Krayna with the mortgage.

Krayna rebounded, but she says that her experience has taught her not to count on the future.

Other education financing experts echo Krayna’s cautions. They say that while it’s sometimes necessary to take out an online student loan, you should never finance an online education with credit cards or other forms of consumer debt. Under only the rarest circumstances should you tap retirement funds.
Read full article on pensions and home-equity loans for online education...
 
Should You Trust Your Online School Financial Aid and Student Loan Officer?
Online College Financial Aid  >  Online College Student Loans
By GetEducated.com Consumer Reporting Team   
 
It’s normal to approach online student loans with trepidation. Getting financial aid for an online degree program is tricky, and recent college student loan scams and scandals have made many adult and online students even more nervous.
Learn more about online school financial aid officers...
 


 
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