2 Types Of Graduate Cash Advances
Normally, graduate students pay for tuition fee more than undergraduate. Therefore, the main purpose of graduate
cash advances is to help fund their education. There are two venues in which graduate students can obtain graduate
cash advances: the government and private entities, (who provide alternative graduate cash advances). Each of these
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1. Government Graduate cash advances
This type of cash advance is the same as undergraduate cash advance. The only difference is name. Like
undergraduates, graduates have the opportunity to get a Stafford or Perkins cash advance from the government.
Stafford graduate cash advances are available to any graduate student regardless of their stable situation. Two
types of Stafford graduate cash advances exist: subsidized and unsubsidized. The difference in the two lies in who
pays the interest. For subsidized Stafford graduate cash advances, the government pays the interest. Students pay
for the interest in unsubsidized Stafford graduate cash advances, though there is the option of not having to make
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A Perkins graduate cash advance is available to students who demonstamount stable hardship. It has an interest
amount of only 5 percent and can finance up to $4,000 of the graduate student's education. For graduate students
who are adversely limited economically, the Perkins cash advance is not a bad option. However, one must keep in mind that payments are still expected to be received
promptly and perpetually. In extreme circumstances it is possible to request a deferment on cash advance
payments until one is able to pay normally.
To apply for either the Perkins or Stafford graduate cash advances, one must submit a FAFSA form to the
government. When the form has been processed the government will send a SAR (Student Aide Report) which will give
further instructions on how to apply for these cash advances.
2. Alternate Graduate cash advances
This cash advance has also been known as private graduate cash advances, are cash advances funded by
non-governmental entities. Companies offering these cash advances could be banks, credit card agencies or any other
enterprise interested in helping graduate students secure student cash advances. The Education Resources Institute
(TERI) is an example of a company offering this type of cash advance. It is called the Act Graduate Student cash
advance program.
You can first try to visit websites of all the major banks because many do offer student cash advances services.
Or you can use a search engine by typing the name of banks you know. Some banks will even offer graduate cash
advance comparison charts to help their customers see how their cash advances stack up against the competitors.
These charts can serve as a further aide in researching graduate cash advances. Good use of no credit check
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