College loan corporations are basically companies that offer a wide range of services to college students and parents. College loan corporations, as the name implies, primarily offer financial aid to college students or parents to help them pay for college education. In the United States, these corporations provide alternatives to Stafford Loans. Stafford Loans are low-cost and affordable, and are the most commonly used education loans sponsored by the federal government.

Loan Consultants

College loan corporations let people borrow for low interest rates and offer different packages, or interest-reducing programs, to their clients. Most, if not all, of these corporations provide loan consultants for their clients. These loan consultants can produce projections, identify areas of need, lay out and compare financial benefits and options, and even assist with the process of loan application.

Planning

Some of these corporations even provide a step-by-step guide to help their clients understand what they want from the very start. Some examples are: how to choose a school, how much to invest for college, how to get into colleges, and how to apply to colleges.

One of the tools these corporations provide for further planning and preparation is the loan calculator. The loan calculator is actually a set of criteria focused on helping clients evaluate their investments and budget management strategy. Some examples are comparing school tuition fees, comparing school financial aid policies, comparing different loan programs, calculating how to lessen the interest from borrowing, and analyzing which repayment program would allow the client to save more.

Based on the values and figures from different types of scenarios entered into these calculators, it will compute and provide projections for the client.

PLUS

Aside from Stafford Loans, another common loan program is PLUS. PLUS stands for Parent Loan for Undergraduate Students. This type of loan is particularly helpful for students who already met or exceeded their annual federal loan limits.