Posts Tagged ‘Student Loans’

Jun 4

Student Loan Options

Posted by admin | Comments Off

iStock_000009127912XSmall[1]You have applied for all your scholarships and looked into all the student aid you can. Now it is time to look into bridging the gap with student loans. There are three major categories when it comes to education loans. They are: MORE

Tags: , , ,
Posted in Children and Money | Comments Off
Jun 3

Am I Eligible for Federal Student Aid?

Posted by admin | Comments Off

iStock_000001631505XSmall[1]You have applied for every scholarship you feel will be a good fit. Now what? Start looking into Federal Student Aid. The Free Application for Federal Student Aid (FAFSA) is the form used by the U.S. Department of Education to determine your Expected Family Contribution (EFC) by conducting a “need analysis”. 

The first thing you want to know is who is eligible to receive Federal Student Aid? From www.fafsa.ed.gov here is your answer.
·         Be a U.S. citizen or eligible noncitizen.
·         Have a valid Social Security Number.
·         Be registered with Selective Service if you are male and 18 to 25 years of age (go to www.sss.gov for more information).
·         Have a high school diploma or a General Education Development (GED) Certificate or pass an exam approved by the U.S. Department of Education.
·         Be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program at a school that participates in the federal student aid programs.
·         Not have a drug conviction for an offense that occurred while you were receiving federal student aid.
Also:
·         You must not owe a refund on a federal grant or be in default on a federal student loan.
·         You must demonstrate financial need (except for unsubsidized Stafford Loans).
You might be wondering how much financial aid you are eligible to receive. This all depends on your Expected Family Contribution (EFC), your year in school, your enrollment status, and your cost of attendance at the school you will be attending. You will want to contact your school’s financial aid office to get this information. 
Don’t forget to look at state and school resources to help pay your school costs as well. The financial aid administrator at the school you plan on attending can help you with that. 
Start researching non-federal aid early (ideally, start in the spring of your junior year of high school). Many states, colleges and universities have filing deadlines that are much earlier than federal deadlines. Find out all application deadlines and make sure you meet them.
Tags: , , , ,
Posted in Children and Money | Comments Off
May 28

Paying for College…What Are My Options?

Posted by admin | Comments Off

iStock_000005617631XSmall[1]My articles over the last two days have covered how to save for college. The focus has been on starting very young. Please know you really can start at any age, it is never too late. However, if you find yourself with a child in high school, getting ready to graduate and you have no savings, today I am going to cover your different options. 

There are three ways you can get assistance to pay for college. They are:
·         Scholarships – A scholarship is an award of access to an institution, or a financial aid award for an individual student scholar, for the purpose of furthering their education. Scholarships are awarded based on a range of criteria which usually reflect the values and purposes of the donor or founder of the award.
·         Federal Student Aid – includes those programs of general student assistance, such as those authorized by Title IV of the Higher Education Act of 1965, which is administered by the U.S. Department of Education, and similar programs provided by other Federal agencies. It does not include programs which provide fellowships or similar Federal awards to students on a competitive basis, or for specified studies or research.
·         Student Loans – are loans offered to students to assist in payment of the costs of professional education. 
Step one, check out what scholarships may be available for your student. There are websites out there specifically geared to help you find the perfect scholarship for your student. 
Step two, start applying for Federal Student Aid. There is more than $83 billion in federal student aid available every year. 
Step three, apply for student loans. 
Over the next several days I will go through and break these down more. There is a lot of help out there, you just have to know where to look and be willing to do your research.
Tags: , , ,
Posted in Children and Money | Comments Off