students loan consultancy

For Graduation	Not exceeding 21 Years
For Post-Graduation	Not exceeding 31 Years
For Ph.D	Not exceeding 36 Years

The loan facility will be available for entire duration of the study for:-

Schedule Fee	Paid directly to the University/College
Boarding expenses excluding meal charges
Procurement of textbooks--- Disbursed directly to the student

REPAYMENT OF LOAN:

IMPORTANT INSTRUCTIONS:
Application Form will not be entertained if the same is not properly & duly filled in and found missing therewith the following documents.
i) Three Photographs of Student attested by not below the rank of BPS-17.
ii) Attested photocopies of Fee Challan raised/demanded by the Educational Institution and Boarding expenses (excluding meal charges).
a) Income certificate from the employer i.e. Government/semi Government/ Private service
b) Income Certificate from the area counselor of the Union Counsel i.e. for self employed
iii) Attested photocopies of: -
a) Domicile
b) Computerized N.I. Card.
iv) Attested photocopies of all educational certificates
a) Secondary School Certificate
b) Higher Secondary Certificate
c) Degree(s)
d) Marks Sheet/Transcript (Last Examination)
v) A certificate (in original) from the Vice Chancellor/ Principal/Registrar of the concerned University Letter Head confirming date of admission and completion date of study. vi) Four un-stamped self-addressed envelope (5 X 11).

OTHER INFORMATION:

• Application Forms are available from the designated branches mentioned above or may be downloaded from National Bank of Pakistan website www.nbp.com.pk/studentloan
  
  
• The students desirous of availing loan under the Scheme may apply on prescribed form for financial assistance subject to he or she has got admission on merit through normal procedure in the Universities/ Colleges afore-mentioned.
  
  
• Applicants are required to submit their applications on the prescribed form, duly completed in all respect, to the designated branches indicated against each University/College by the given date.
  
  
• Application shall be considered on merit according to the availability of funds. Any application which is not made on the prescribed form or is un-signed or does not contain the required particulars and documents or reaches late will not be entertained.
  
  
• Students who have availed this facility in the last / previous year(s) need not to apply.

ONLY SUCH APPLICATION RECEIVED BY THE DESIGNATED BRANCHES ON OR BEFORE 27TH FEBRUARY 2010 SHALL BE ENTERTEINED. LOAN FACILITY IS SUBJECT TO AVAILABILIBITY OF FUNDS

Mr. Shamim Iqbal, Vice President,
Students Loan Wing,
Credit Management Group
National Bank of Pakistan,
Head Office, Karachi
Telephone No. 021-99213026 and 99212100- Ext.2637.
Fax. 021-99213021
Email nbpstudentloan@nbp.com.pk
SCHEDULE OF EVENTS:

1.	Application forms will be available at above mentioned designated branches from:		24th December 2009
2.	Last date of Application form submission at designated branches on:		27th  February 2010
3.	Designated branches will be dispatched all received application form from Students to Students Loan Scheme Wing, Head Office, Karachi on:		15th March 2010
4.	Processing period of scrutiny of application form:		16th March to 30th June 2010
5.	Expected date of Apex Committee Meeting for approval of cases:		25th August 2010
6.	Final list of eligible students will be display on National Bank website www.nbp.com.pk/studentloan :		5th September 2010
7.	Dispatch of sanctioned advice to the following: Designated Branches                    (Original Copy) Registrar of University / Colleges (Copy) Students                                          (Copy) Parents                                             (Copy)		30th September 2010
8.	Successful students are requested to complete the legal formalities at designated branches within 45 days from the date of receipt of sanctioned advice.

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osted : TUESDAY, 7TH JULY 2009 23:08:25 BST comments : 0

Ben Loader, aged 28, an environmental consultant for a UK water company. Single, lives in central London. (Salary range £25,000 - £35,000)

With a student loan to pay off and hefty rent bills to pay while living in London, Ben has not seen a pension as an immediate concern. In his previous job he had a pension but only paid in the bare minimum. On leaving, his pension valuation stood at £2,000.

Since then he has not had a pension of any sort, though now he is starting to think about setting one up.

"I can see the argument in favour of saving into a pension, but recently I have been focused on paying off existing loans rather than investing in a pension. I just haven't had the spare cash to do it."

He has heard scare stories about under-funded pensions and is aware that when he retires in just under 40 years, the basic state pension may be an extremely insignificant sum. Being under 30, and with most of his working life in front of him, he is not unduly worried by his lack of pension savings, but he is coming round to the idea that he needs to act sooner rather than later.

He adds: "My new company has a pension scheme, which it will contribute to, so I plan to join that and increase my side of the contributions when I can afford to do so. But to be honest in my line of work, the chances are that if I want to get on then I will have to bite the bullet at some point and go self-employed - when that happens there will have to be another rethink about my pension."

Ben also has some expensive hobbies - snowboarding and scuba diving - which he'd love to partake in as an OAP of leisure. Will he have to give these up, now and in the future, to avoid any struggles when he finally retires?

Ben's Pension Time Machine
Verdict: If Ben fails to take out another pension during his working life his total pension fund on retirement will be £6,835 and his projected annual pension income would be a paltry £299.32 (in today's money).

The outlook seems pretty bleak, but in Ben's favour he is still young and has time to make up for the years when he hasn't saved for his retirement.

But he will need to start as soon as possible and try and make contributions as large as he can. Ben does not yet own a property, nor does he have any ISA or unit trust investments, so he needs to put together a plan to avoid being cut off by the gas board aged 65.

A pension (with its tax-free element, and the added benefit of a company matching his contributions) should be one of Ben's first considerations. Even as little as £100 a month into his company pension would be a start, and he could increase this contribution in time as his personal loans are paid off, and his salary is boosted by pay rises or bonuses.

Given that he plans to go self-employed at some time he should consider the benefits of a stakeholder pension or a SIPP (self-invested personal pension) when he makes that move.

His company pension would remain intact (in fact he should be able to transfer its value into the stakeholder plan) and the stakeholder pension would then take its place. He could actually set up a stakeholder scheme to run alongside his company pension now - but given that money is a bit tight - that maybe one for later!

In the popular imagination, the tipi has come to represent a common stereotype about how all Native American people used to live. In truth, however, it is a specific cultural expression of the Native peoples of the Great Plains region of North America: the primary means by which they organized their lives, families and communities. Today, Plains people live in modern homes, but the tipi remains an essential architectural form used by many for celebratory and ceremonial occasions. While the tipi has been featured in other exhibitions, the Brooklyn Museum exhibition, scheduled to open to the public in Fall 2009, will be unique because it takes the tipi as the point of departure to explore the numerous, complex sub-themes that place it at the center of Plains social, religious, and creative traditions.

On June 15, the first of two planning meetings was held at the Brooklyn Museum in order to determine the themes of the exhibition. A diverse group of ten consultants including scholars, tribal representatives and artists attended the meeting, along with the three exhibition curators (Nancy Rosoff, Susan Kennedy Zeller and Tim Ramsey), as well as other staff members.

Left to right sitting: Tim Ramsey (Southern Cheyenne-Choctaw), Teri Greeves (Kiowa), Christina Burke (Philbrook Museum), Derek Big Day (Crow), Heywood Big Day (Crow)

Left to right standing: Miranda Applebaum, Rima Ibrahim, Susan Kennedy Zeller, Don Moccasin (Rosebud Lakota Sioux), Barbara Hail (Haffenreffer Museum), Nancy Rosoff, Gerard Baker (Mandan-Hidatsa), Bently Spang (Northern Cheyenne), Dan Swan (Sam Noble Museum), and Mary Lou Big Day (Crow).

Consultants examine Plains objects from the Brooklyn Museum’s collection.

Tim Ramsey, Heywood Big Day and Gerard Baker examine the drawings on a tipi liner that was owned by the great Hunkpapa Sioux leader Rain-In-The-Face (ca. 1835-1905). Rain-In-The-Face was one of the Sioux leaders who fought and defeated General Custer at the Battle of Little Big Horn in 1876. A tipi liner is hung around the inner tipi wall as insulation and decoration. The drawings on this liner depict battle scenes and religious ceremonies. This liner has never been studied or published and a special consultation meeting with other experts will be held at the Museum on September 7.

Introduction

The student loans just like the other forms of financial aid are a service that is subject for repayment. However, although aware of such fact, many borrowers still fall to the trap of walking away from student loan debt which then results to series of consequences.

They tend to ignore their being summoned to enter repayment generally either 90 or 120 days after separating from school or after dropping below half-time enrollment. With this, the loans remain delinquent for 270 days or become 270 days past due at any time, leading the loans to "default" status.

Defaulted Student Loans, Defined

Defaulted student loans are in fact defaults made by the borrower to the creditor of the terms and conditions of the student loan contract. It is generally caused by the act of escaping from debts, leading to unfavorable consequences on the part of the borrower.

Essentially, prior to the declaration of student loan default is the delinquency period. At this period, the lenders of student loans authorized under Title IV of the Higher Education Act will exhaust all efforts to find and contact the borrower. If the lender's efforts of locating the debtor are unsuccessful, the loan will then be placed in default. It will be turned over to either the state guaranty agency or the Department of Education. And, once the loan enters the default status, the maturity date is accelerated, making the overall payment in full due right away.

The Consequences of Student Loan Default

When the loan enters the default status, several consequences are connected to it. Some of them are mentioned below:

• The loans may be turned over to a collection agency.
  
  
• The borrower will be liable for all the costs connected with collecting the loan. This may even include the court costs as well as attorney fees.
  
  
• The borrower can be sued for the whole amount of the loan.
  
  
• The wages may be garnished.
  
  
• The federal and state income tax refunds may be intercepted.
  
  
• Federal interest benefits will be denied.
  
  
• That federal government may withhold part of the Social Security benefit payments.
  
  
• The borrower's chance to receive federal financial aid will now be impossible to happen until he repays the loan in full or make arrangements to repay what he already owe and make at least six consecutive, on time, monthly payments.
  
  
• On the credit record, the defaulted loans will be mentioned, making it hard for the borrower to get an auto loan, mortgage, and even credit cards. Note that having a bad credit record can harm your ability to find a job.

Aside from the above mentioned consequences, there is also some other less-obvious consequences that are oftentimes omitted from consideration. One of those could be the rule that the federal student loan borrowers holding defaulted student loans are no longer entitled to any deferments or forbearances. Subsequently, there are some cases when the loan default may force the individual to consider or take a semester off. This must be taken due to his or her inability to qualify for federal student aid as well as to afford the cost of higher education independently.

What's more, there is a great possibility for those borrowers who defaulted on their student loans to lose their professional licenses. For example, the lawyers who possess defaulted loans may be subject to have their license to practice law disavowed. The doctors and certified public accountants would also fall into this category.

Lastly, the borrowers who just ignored summons for loan repayments will become liable for all fees associated with collecting the federally financed loan. This means that the borrowers will end up repaying their outstanding debt, plus up to 25% in contingent fees in order to satisfy the student loan debt. Note that this rule is in fact consistent with the Higher Education Act as well as on the terms of most borrowers' promissory notes.

The Collection Procedures Involved with Defaulted Student Loans

Most of the guaranty agencies' stringent collection procedures have successfully deterred student loan neglect. One of the supports for this claim is the steady decrease and current all-time low of student loan default rates. However, even though the collections department is highly committed to assisting those who are in default and making repayment as simple as possible, the non-response in the borrowers' side still opens up to one or more of the following collection approaches:

• Garnishment of Administrative Wage: Under the Higher Education Act of 1965, the Department of Education as well as the state guaranty agencies may require employers who employ individuals with defaulted student loans to take away 10 to 15 percent of the debtor's disposable income per pay period. The garnishment of the administrative wage is in fact a resort taken only when the debtor refuses to voluntarily repay his or her defaulted debts and may persist until the total balance of the outstanding debt is paid back.
  
  
• Treasury Offset Payments: Aside from administrative wage garnishment, the Department of Education has the right to request the Treasury Department to perform a federal offset against the federal income tax refunds as a way of collecting defaulted student loan debt. In simple words, the borrowers with loans in default status may forgo any federal tax refunds until he or she has repaid the defaulted loan.
  
  
• Legal Action: Litigation can be pursued by the Department of Education as well as state guaranty agencies as a means for collecting the defaulted loans. It means that if the debtor refuses to repay the debt voluntarily, he or she is subject to prosecution in a state or federal district court. The borrower is therefore sued for the outstanding debt as well as for the attorney and court fees. But, these methods are generally considered as last resorts, thus require prior notice of the proposed offset.

Preventing Default

There are several ways that you can make to prevent the onset of student loan default. It is just somehow necessary for you to place your interest and efforts on preventing it. Here are the possible ways that you can consider:

• Simply make your payments on time.
  
  
• Make sure that you understand your loan options as well as the related responsibilities prior to taking out a student loan.
  
  
• If certain financial difficulties are encountered, try to consider applying for a deferment or forbearance on your loans. Many experts often suggest that it is much better to defer your payments than to go in to default status. Along with this, ask your lender or service provider about the available options while you are still making payments, before you enter the default status of your loan. Always note that after you default, you won't be able to get a deferment or forbearance anymore.
  
  
• If possible, inform your lender or service provider promptly about any of the possible adjustments that may affect the repayment of your student loan. In case you move or change your address, let them know. Also, make sure that they know about the name changes, which are very possible because of marriage; graduation or termination of studies; leaves of absence as well as transfers to another institution.
  
  
• If for instance you are having trouble making your payments, try to contact your lender as they may be able to suggest an alternate repayment options for you. Some of the possible choices include graduated repayment, income sensitive repayment, as well as income contingent repayment. Also note that the types of available repayment options currently depend on whether the student loan was issued under the FFELP or FDSLP or Direct student loan programs.
  
  
• A student loan consolidation can be considered as another way for preventing student loan default. Combine all of your educational loans into one big loan as this gives you the chance to send your payments to just one lender. What's more, you may be able to extend the term of the loan in order to lessen the size of your monthly payments.
  
  
• Simply keep records regarding your student loans. If possible, try to back up copies of all your letters, canceled checks, promissory notes, disbursement notices, and some other necessary forms in a file folder. Just be organized.

Getting Out of Default

In case your loan already entered the default status, don't worry. You still have hopes if you will just try to pay even just a little consideration on your debts. The first move to take to get out of debt is simply to make arrangements with your lender to repay the loan. It is normally noted that once you have made six regular payments, there is a chance for you to be eligible for an additional Title IV aid. After you have finished twelve regular payments and applied for and received "rehabilitation", you will no longer be considered in default. It is also at this time when the record of the default will be eliminated from the reports to credit reporting bureaus.

And, for further information about the available repayment options that could suit your needs, just contact your lender. The financial aid office at your school should also be able to tell you the name, address as well as the contact number of your lender. They can also give you supporting help and advice about your repayment problems.

Student Loan Rehabilitation

As the phrase suggests, the loan rehabilitation is a program designed to rehabilitate the defaulted student loans and return such loans to a favorable status. This program in fact requires 12 consecutive monthly payments of a predetermined agreeable amount.

It is often suggested that those borrowers in default status must contact their servicing agency to define the loan rehabilitation program that is reasonable to both parties. However, if a reasonable rehabilitation program cannot be reached with your lender, there is the office of the Federal Student Aid Ombudsman, which is a neutral party, designed to resolve any disputes.

Conclusion

Having said all these, the defaulted student loans are no doubt a serious problem that must be healed as soon as possible. This is for the fact that when the case intensifies, certain damages not only on the person's credit rating, but other consequences as mentioned above will greatly result like a brush of fire.

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The insurance is another way of safeguarding you in the state of the emergency in future by current financing. In order to take home equity loans, there is a need of signing an agreement with trustworthy home lenders. There are several online sources which offer the different categories of insurance quote for the customers. There are some resourceful directories which offer the catalogues of job to get start work at home.

The student loan is very assistive for the students to continue their professional studies by getting financial aids in order to meet high charges of higher education. For the consolidation of bad credit loans, the different financial consultant offers their advisory services in the reasonable fee charges. If you want to get help for consolidating loan, you have to go to the credit loan consultants for having the proper debt solution. There are different rates of free home mortgage for refinancing the home or other properties of the owners.

Latest news from REC Real Estate Consulting

08/12/2009

LOAN MODIFICATIONS: RESIDENTIAL LOAN MODIFICATION, COMMERCIAL LOAN

MODIFICATION, STUDENT LOAN MODIFICATION,SBA LOAN MODIFICATION. OUR ATTORNEYS WILL NEGOTIATE FOR YOU!

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With the American economy in turmoil it seems that more and more Americans are facing struggling with an

inability to pay off their unsecured debts including student loans for themselves or their children. While

most people are aware of the potential benefits of seeking a loan modification for their home mortgage, most

people do not realize that the same relief may be available for their Student Loans. As Loss Mitigation

Professionals it is OUR job to EDUCATE our clients!!! Similar to property secured loan modifications,

lenders are often willing to reduce a borrower’s monthly payment using a number of different methods

including reducing their interest rate, lengthening the term of the loan, allowing for interest only payments

for a predetermined period, and delaying payment of past due amount to the end of the term of the

commercial loan. In the case of a student loan, because it is a no recourse loan, the lender may be more

willing to negotiate because there is no collateral security to repossess. What About Temporary Payment

Suspension? There may be times when even an affordable repayment plan is too much for a borrower. They

may be temporarily unemployed or unable to deal with student loan payments for other reasons, such as

active duty military service. The good news is that they can suspend their payments, at least for a while, in

limited circumstances. The bad news is that in many cases, your interest will continue to accrue, and will be

added to your principal when you begin repaying again. This is a common way that loan amounts can grow

to unmanageable levels. Borrowers who need deferments and forbearances may be less able to pay back an

even larger loan, and find themselves worse off at the end of a break in repayment than before. PCAG will

negotiate with your lender on the accrued interest so you are not stuck in a never ending loan. The first

category of suspensions, grace periods, automatically comes with most loan programs. Lenders will give a

borrower a break so that they don’t have to start repaying right after graduation or withdrawal from a school.

The second category, deferments, are available if a borrower meet certain conditions, such as unemployment

or economic hardship, and only if they are not yet in default on your loans. The Borrower will not be

charged interest on subsidized loans during a deferment period. Forbearances also allow you to suspend

payments and are available even if you are in default, but you will be charged interest during forbearance.

Student Loans & Bankruptcy: Student loans are not usually discharged in bankruptcy. It is common for a

borrower to go revolving 90 days late with their loan.. BUT IT IS SIMPLY NOT NECESSARY!

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