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ACS Student Loans Is it Good For Students With Bad Credit?


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ACS Student loans are education financing packages. Most students who are facing the escalating cost of college education have resorted to this type aid. This system of financing is a very attractive service to borrowers, and it has enabled many students to attend college without the hassle of facing the bank and then being denied.

ACS Student loans are administered by a corporation called Affiliated Computer Services Inc. They mainly specialize in business process outsourcing technology. With the use of technology they have proven to be very efficient in processing applications and related information. Because of their efficiency, they were contracted by the US Government and they are currently administering a section of the federal education lending program.

The ACS service process is very simple. According to the company's website, applications can be completed online. However prior to completing the online application, prospective applicants must first complete a form called the FAFSA - Free Application for Federal Student AID. This form is available from your school's financial aid office. A few weeks after submission, the applicant will receive a SAR - Student Aid Report. This report will contain vital information that will facilitate the applicant in completing the entire application process.

The contents of the FAFSA form is also sent to and used by colleges that were indicated on the form. The financial aid offices of these colleges will use the information to further process application and make an offer of financial aid to students.

Once the applicant has received all the necessary information from ACS and the financial offers from colleges they are interested in , then the online part of the ACS student loans application can be completed.

This is where the technology is at its best. The website is basically self service and serves students, college, universities and lenders. This allows the company to provide better customer service.

Every user is given a login access, and for fast processing users are required to verify their profile and account information with complete contact information including address, phone number, and company name if applicable.

The website provides for Online Payment, Express pay and Servicing of Loans, no need to travel to a payment center. Also included is Online Forbearance and Deferment requests, Scheduling, Account Update and Change in Contact Information. In essence, the company's website provides for real time access by users. As with every other documents that requires your signature, it is important that you read the fine prints. While the company's credibility is impeccable, it is your life, your future and you are the one that has to repay. So read everything, or let your attorney or trusted adviser review everything before you sign this or any other important document.

Those who have used the service testify that ACS student loans are a great way to help fund higher education. To some however, after the education is complete, it may make more fiscal sense to consolidate. Let's face it, after college the job search begins and repayment of an education loan is one of the motivating factors to get a job fast.

Consolidation of any loan, will help ensure that your repayment and interest rate will be kept to a minimum and will also simplify life after college.

Duva Loaden, Financial Adviser: What are your best options for student loans? What are the do's and don'ts when seeking an ACS Student Loan ? Visit our site and find out the Secrets to keep your student loan repayment as low as possible.


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