Student Consolidation Loan Checklist Different Types Of Online Degrees That You Can Opt For Accounting Careers
If you are graduating college soon, now is the time to begin preparations for your student consolidation loan. You have a six month grace period after graduation before payments begin, but the consolidation loan application process can take several weeks, especially if you haven’t gathered all your loan information and decided on a lender.
Inventory your student loans.Make a list of all your loans, including type of loan, lender, the amount of your loans, interest rates and the amount of your payments. Review your loan documents, contact your lenders or loan servicers or go to the National Student Loan Data System (NSLDS) website. If you don’t know your PIN (Personal Identification Number) to log in, you will have to request a new one and it will be mailed to you. Expect to wait a week or two for the PIN to arrive, so best to get it done early.
Calculate Your Current Monthly Payments. If you are already in a repayment status, you will know your exact monthly payments. However if you are still in school or in your grace period, you should estimate your monthly non-consolidated loan payment based on the current interest rates and your loan balance. You can also check your estimated payment amounts by contacting your lenders or loan servicers.
Budget? What’s a Budget? Though many people wander through life from paycheck to paycheck without knowing where their money is going, you really need to set up a budget to see if student loan consolidation is for you. Once you have that first job, determine a reasonable amount of your income that can be allocated to your student loan payments. This percentage should be based on a realistic budget. Then see if the estimated loan payment amounts you calculated above will fit into your budget.
If your estimated or actual payment exceeds that monthly budgeted amount, reevaluate your income and outflow. Can you trim any areas of your budget? Can you increase your income?
If it’s a short term issue (expected raise in pay, getting a part time job, etc.), consider your deferment or forbearance options.
However, if there is no light at the end of the tunnel, it is time to consider consolidating your student loans.
Select loans for consolidation. Determine which of your loans are eligible for federal consolidation. A listing of the loans that can be consolidated in addition to Stafford and Perkins can be found at Eligible Consolidation Loans.
Private student loans are not eligible to be consolidated through the Federal consolidation programs.
You might lose some discharge (cancellation) benefits or deferment benefits if you include certain types of loans in your consolidation loan like Federal Perkins Loans, for example. You can contact the holders of your loans to find out what the impact of consolidation will be on your current benefits.
Consolidate Your Loans. Try going through the Federal Direct Loan Consolidation Program. You can make the application online.
If you have graduated, but are still in the grace period, start the consolidation process approximately two months before the end of the grace period. This will allow enough time to have your consolidation loan processed before the grace period expires, yet not so early that you lose too much of your grace period if you have a FFEL consolidation loan. (If you consolidate FFEL loans during the grace period, you will give up whatever portion of your grace period remains. You retain all of your grace period, however, if you get a Direct Consolidation Loan.) Some FFEL lenders offer to hold disbursement of consolidation loans until the end of the grace period to enable borrowers to minimize their interest rate and maximize their grace period. Check with your lender to be certain.
Keep in mind that if you consolidate during your grace period, you can lock in an interest rate at least a half percent lower than the current repayment rate. Many lenders will give you a discounted rate if you sign up for electronic payment and also for making a certain number (usually 36) of on-time payments.
When filling out the consolidation application, make sure you provide complete and correct address information, include two references, and sign the promissory note. Miss any of these and you will delay the processing of your application.
If you are already in repayment, continue making payments on your loans until consolidation is completed. If you need immediate payment relief, request deferment or forbearance
As soon as you come out of the high school, you are confronted with several degree programs. Degrees are of several types and are pursued at different level. These degrees are absolutely necessary to for career advancement and finding a respectable job in the future.
Fresh from high school, there two types of degrees awaiting you. One type is the bachelor’s degree and second is an associate degree. A bachelor’s degree is again of two types – namely, bachelors of Arts and bachelors of Science. Bachelor’s of arts consists of program in liberal arts and fine arts. Whereas students who have chosen programs such as math, life science, physical science, engineering, and agriculture would receive a bachelor’s of science degree.
A bachelor’s degree consists of a coursework of four-year duration. It is a full time course and every student majors in a particular subject from towards the completion of the second year. Earning a bachelor’s degree in a private college in US is considered prestigious. The cost of earning a bachelor’s degree can also cut down with the financial aid from various sources – private and government. Most Federal grants are free and you need not repay them. Even private student loans come at a lower rate of interest.
For those students who cannot afford to earn a bachelor’s degree and who fail to get financial aid, they can pursue another type of degree called associate degree. An associate degree is often offered at government-run community colleges or at a vocational school. They take a minimum of one year and a maximum of two years to get completed. The coursework is similar to tat of bachelor’s degree, which requires general education, electives, and major work. An associate degree is often pursued by students to cut down of education cost. Having completed two years doing an associate degree, they move on to a private and stay there for another two year to complete their bachelor’s degree.
Having obtained a bachelor’s degree, the next step is to earn a master’s degree. This type of degree is more specialized than a bachelor’s degree. The coursework is such that it allows the students to concentrate on a specific subject and field. In order to receive a master’s degree, students may have to write a 100-150 page thesis or take a lengthy exam.
The last type of degree is the doctorate degree, which is the highest degree awarded. This can be obtained after receiving master’s degrees. The length of this program may vary according the students credentials and his level of dedication.
Considering an online degree? All the above types of degree programs can also be pursued through online education. There are certain benefits of pursuing degree online. First, education cost is drastically cut down. Secondly, you do not need to travel to college and can take lessons at the comfort of your home. Thirdly, online degree programs can be self-paced. You can either speed up or put a brake depending on your convenience. Fourthly, there are no geographical limitations in online education. Since it is a distance-learning program, you need not attend classes. You only need to have access to Internet.
Most colleges and university cater to education online offering bachelor’s degree and associate degree. Some of them also offer master’s degree and doctorate degree online.
Accountants play a critical role in a company’s many financial facets. In general, they balance books, record costs and profits, execute payroll, pay taxes and bills, and issue financial statements to outside organizations. Although these may appear to be straightforward tasks, accountants are required to be well-versed in protocol and regulations to avoid scandal, which results in costly fines and marred reputations. However, the accounting industry is drawing a breath of fresh air after exchanging paper spitting calculators and ledger sheets for advanced accounting software. Career Accountants now have the opportunity to wear the consulting hat, spending less time crunching numbers and more time serving as financial vernacular translators for the management sector.
This new hat also comes with a whole new outfit. Employers now seek Accounting applicants that are not only math and detail-oriented, but possess analytical thinking skills that lend them to spot and solve problems. Still, even the best solutions are worthless if they cannot be communicated to a member that can implement it. Therefore, strong written and verbal communication skills are important qualifications for the modern accounting position. A bachelor’s degree in finance, business, or management of information systems (MIS) is considered suitable training by employers for the technical, analytical, and communication skills necessary to succeed in entry-level positions. The American Institute of Certified Public Accountants, however, requires 150 hours of university education, thirty hours more than a typical four-year degree, before qualifying to take the CPA exam. For those embarking on the internal auditing and management accounting career path, there is the Internal Auditors or the Institute of Management Accountants, which issue certifications required by some employers. Qualifications for bookkeeping positions are much more lax, offering positions to high school graduates, associate degree holders, or people with a degree in an unrelated field. Notably, these positions are often more tedious and offer less compensation.
Optimistically speaking, there are several accounting career tracks in the industry that highlight a wide range of interests and accountant training: public accounting, in-house accounting, internal auditors, management accountants, government accountants, bookkeepers and auditing clerks, and independent. Public Accountants prepare a company’s tax statements and external auditing, which make financial records available to the government and the public. These accountants enjoy the flexibility of their work because their skills are needed by small and big firms alike. In-House Accountants set budgets, manage assets and payroll, track payments, and handle other financial matters. Internal Auditors and Management Accountants assume a more internal function by checking accounting systems for clerical errors, enforcing regulations, streamlining processes, advising on critical decisions and strategy planning. Government Accountants are financial disciplinarians that collect revenue and see that it is spent in accordance with the law. Bookkeepers and Auditing Clerks perform the task of inputting data into the company’s financial record keeping system. However, once you’ve earned your CPA, the allure of becoming an entrepreneur gains strength since many businesses are willing to arrange for advising sessions and tax return work on a contract basis.
Regardless of the position, a career in accounting offers many opportunities to move up after getting that foot into the door, and right now the door is open. After a series of industry scandals, companies are eagerly seeking ethical applicants to fill forensic positions in order to reestablish their clients’ faith. The public accounting sector also has many available positions in auditing and taxes. These Accounting Career opportunities are primarily situated in the health care and manufacturing industries, but the Big Four Accounting Firms (Deloitte Touche Tohmatsu, Ernst & Young, KPMG, and PricewaterhouseCoopers) are always looking for bright-eyed youngsters to fill menial positions in exchange for a big name to print on a resume.
The Big Four Accounting Firms offer a far from shabby starting salary in the mid $30,000s to $40,000 for entry-level accounting employees who quickly move up to the mid $40,000 to high $50,000 upon reaching seniority status. Management Accountants earn $60,000 to mid $70,000 a year and partners generally make more than $120,000. Although smaller firms may offer slightly lower wages, salaries in general are projected to continue rising in the industry over the next few years..
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