Adult workers with college degrees typically receive a larger annual salary than workers who only have a high school diploma. In fact, the United States Bureau of Labor Statistics reports that, as of 2012, adults with a bachelor’s degree earn a median weekly income of $1,066, while workers with a master’s degree earned a median weekly wage of $1,300. Workers who only had a high school degree earned a median weekly salary of $652.
In addition to earning a college or university degree, the schools adults graduate from can also play a role in the income they receive. Over time, these wage gaps impact a workers’ ability to offer their families lifestyle experiences like international traveling, rich entertainment and financial support. For example, earning a degree from Ivy league colleges and universities like Yale and Harvard can give job candidates leverage during the job interview process.
However, tuition at schools like Harvard can be pricey. To reduce the amount of money they have to pay for tuition, some students are checking out Harvard Business School low rate loans. Interest rates on the loans are built to save students thousands of dollars in tuition costs. Another feature of Harvard Business School low rate loans that’s attracting college students is the chance to take out a single loan to cover the entire cost of tuition.
The latter feature of Harvard Business School low rate loans eliminates the need for college students to pay more interests over the long term due to the fact that they had to take out several student loans to cover all of their undergraduate or graduate tuition. This benefit may come as a surprise to students who have already taken out student loans with other organizations, as many times students think they have only taken out one loan only to discover, after they graduate, that they have five or more loans to pay principal and interests on.
Harvard Business School low rate loans are also lower than rates on Federal Direct PLUS loans. For example, the interests on a 10-year Federal Direct PLUS loan is at 6.89% APR, while the interests on 10-year Harvard Business School low rate loans is 6.40% APR.
To be eligible to receive Harvard Business School low rate loans, students must be permanent residents or citizens of the United States. They must also currently be attending or matriculating at one of the network schools affiliated with organizations that disperse the loans. As happens at other financial institutions, the credit of applying students may also be reviewed.
Students who do get approved for the loans are allowed to pre-pay their student loans without being accessed a penalty. Parents may appreciate knowing that a co-signer isn’t required to apply for and get approved for the loans. Similar to traditional student loans, students aren’t required to start repaying the loans until six months after they have graduated from college. To ensure they get the best deals, students are advised to check with several financial institutions and compare application processes and interests rates.
Sources:
https://commonbond.co/student-loan/harvard-hbs
http://www.bls.gov/emp/ep_chart_001.htm