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A Stafford loan is a loan product offered to students enrolled in American institutions of higher education to help finance their education. The loans are offered under Title IV of the Higher Education Act of 1965 (with subsequent amendments) and are therefore guaranteed by the U.S. Department of Education either directly or through guarantee agencies.
Because the loans are guaranteed by the full faith of the US Government, they are offered at a lower interest rate than the borrower would otherwise be able to get for a private loan. On the other hand, there are strict eligibility requirements and limits on Stafford loans, and they get special treatment in personal bankruptcy cases. Students applying for a Stafford loan must first complete a FAFSA.
Stafford loans are available to students either directly from the United States Department of Education through the Federal Direct Student Loan Program (FDSLP, also known as Direct) or from a private lender through the Federal Family Education Loan Program (FFELP).
No payments are expected on the loan while the student is enrolled full time, and for six months after the student has either graduated or dropped out of a full-time program.
Stafford loans have a dual structure interest rate: interest rates are lower when the student is in-school and for the grace period. Once they are in repayment, the interest rate increases.
Stafford loans are available both as subsidized and unsubsidized loans. Subsidized loans are offered to students based on demonstrated financial need; with these loans, interest is paid by the federal government while the student is enrolled and during the grace period.
Interest on Stafford loans was previously based on an adjustable formula, in which rates were set each year based on the prevailing 91-day Treasury bill. Loans originating after July 1, 2006 are issued with a higher, fixed rate. For direct loans and most loan providers, the rate is expected to be at 7.14%, or nearly 2 percentage points higher than those issued before the cutoff date.
As the new rate goes into effect, some loan providers, are foregoing some of the margin they are entitled to under the loan program, offering interest rates lower than the standard rate. Many are also offering price incentives related to payment history, direct debit, etc. MyRichUncle was the first to announce reduced interest rates, expecting others to follow with time.
In addition, in repealing the Single Holder Rule, Congress also allows loan providers to compete for College Consolidation Loans that are available to students and former students with multiple loans. Specialized consolidation lenders and student loan providers compete on various incentives to attract customers.
For more information visit Stafford Loan.What it is:
Mesothelioma is a form of cancer, almost always caused by previous exposure to asbestos. In this disease, malignant (cancerous) cells develop in the mesothelium, a protective lining that covers most of the body's internal organs. Its most common site is the pleura (outer lining of th lungs and chest cavity), but it may also occur in the peritoneum (the lining of the abdominal cavity) or the pericardium (a sac that surrounds th heart).
Most people who develop mesothelioma have worked on jobs where they inhaled asbestos particles, or have been exposed to asbestos dust and fibre in other ways, such as by washing the clothes of a family member who worked with asbestos, or by home renovation using asbestos cement products.
Signs and symptoms:Symptoms of peritoneal mesothelioma include weight loss and cachexia, abdominal swelling and pain due to ascites (a buildup of fluid in the abdominal cavity). Other symptoms of peritoneal mesothelioma may include bowel obstruction, blood clotting abnormalities, anemia, and fever. If the cancer has spread beyond the mesothelium to other parts of the body, symptoms may include pain, trouble swallowing, or swelling of the neck or face.
These symptoms may be caused by mesothelioma or by other, less serious conditions.
Diagnosis:
Diagnosing mesothelioma is often difficult, because the symptoms are similar to those of a number of other conditions. Diagnosis begins with a review of the patient's medical history. A history of exposure to asbestos may increase clinical suspicion for mesothelioma. A physical examination is performed, followed by chest X-Ray and often lung function tests. The X-ray may reveal pleural thickening commonly seen after asbestos exposure and increases suspicion of mesothelioma. A CT (or CAT) scan or an MRI is usually performed. If a large amount of fluid is present, abnormal cells may be detected by cytology if this fluid is aspirated with a syringe. For pleural fluid this is done by a pleural tap or chest drain, in ascites with an paracentesis or ascitic drain and in a pericardial effusion with pericardiocentesis. While absence of malignant cells on cytology does not completely exclude mesothelioma, it makes it much more unlikely, especially if an alternative diagnosis can be made (e.g. tuberculosis, heart failure).
If cytology is positive or a plaque is regarded as suspicious, a biopsy is needed to confirm a diagnosis of mesothelioma. A doctor removes a sample of tissue for examination under a microscope by a histopathologist. A biopsy may be done in different ways, depending on where the abnormal area is located. If the cancer is in the chest, the doctor may perform a thoracoscopy. In this procedure, the doctor makes a small cut through the chest wall and puts a thin, lighted tube called a thoracoscope into the chest between two ribs. Thoracoscopy allows the doctor to look inside the chest and obtain tissue samples.
If the cancer is in the abdomen, the doctor may perform a laparoscopy. To obtain tissue for examination, the doctor makes a small opening in the abdomen and inserts a special instrument into the abdominal cavity. If these procedures do not yield enough tissue, more extensive diagnostic surgery may be necessary.
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