Government looks for improved university acceptance

Students will hopefully benefit from updated university targets and improved student loans programmes.

10:54 19 June 2013

Despite efforts to increase the percentage of students from disadvantaged backgrounds who attend universities, the overall trend shows a decline in the percentage of disadvantaged students.

There have been a number of plans instituted to facilitate improvements and equality in education, such as grants and improved student loans. The number of students from disadvantaged backgrounds who are applying to the universities are increasing, which will hopefully result in improved acceptance numbers.

Here are a few things that students should know about handling their loans.

• Payments during school—if there is a way for you to make payments on your student loans while you are attending university definitely makes the payments. Any interest that would normally accumulate will be significantly reduced if you can make regular payments while attending.

 

• Repayment options—check with the company who manages your student loans to find out what repayment options are available. Even if you aren’t considering repayment at the moment, it will give you a good idea of what to expect if you run into a difficult financial time.

 

• Grants—when it comes to student loans versus grants, you should opt for the grants first because these funds typically don’t need to be repaid. That will reduce the stress level and monthly repayment amounts.

 

• Scholarships—these are different than student loans, and similarly to grants do not require repayment. There may be other stipulations such as certain areas of study, special activities, or a particular cumulative GPA which need to be met.

 

• Record keeping—in the middle of attending university, life gets hectic. Since many students may end up with scholarships, grants, and loans, it’s essential to develop a system of organization. Misplacing documents, or bills, can quickly turn into a negative situation. You’ll need the documents for tax purposes, and potentially for other ones as well so keep funding information near at hand.