Student Loans and Funding Options for College
Scholarships are gifts, and are usually awarded based on merit. There are scholarships based on gender, sexual orientation, political affiliation, and degree program. There are also scholarships that are awarded to children of individuals in a particular category. Great sources for scholarship information are the Financial Aid office at your school, www.fastweb.com, and www.student.gov.
Grants are another great source of college funds. The federal government offers several grants for college students, and you can find this information online at www.grants.gov. When you fill out your FAFSA, your college or university will also be able to match you with grants, including Pell Grants, which are the most popular source of funds for students. Like scholarships, grants do not need to be repaid, and are basically free money for college.
Loans are also great sources of college funds. There are many types of loans. Federal student loans, such as Stafford loans, are secured by the federal government, and administered by local banks or companies such as Fannie Mae and Freddie Mac. These loans do need to be repaid, but generally accrue less interest than a traditional loan. There are also private loan options. You can seek these loans out by visiting your local bank or credit union. Many employers and non-profit organizations also offer loans for students. A great place to look for these loans is the internet - try www.fastweb.com, www.student.gov, or even a Google search.
Most of these funding sources have deadlines very early in the year, and many require the recipient to have a current FAFSA on file, so you'll want to get started right away. You can file your FAFSA online at www.fafsa.ed.gov, or in person at your school's Financial Aid office.
Published by Maggie OLeary - Featured Contributor in Lifestyle
Maggie O Leary served on active-duty in the United States Military from 1997 to 2010, before joining the Reserves. She is currently attending college full-time, pursuing a Bachelor s Degree in History. In ad... View profile
- Two Main Pittfalls of Legally Not Paying on Student Loans The amount of a student loan may go up after graduation due to graduated payments and deferments on the student loans due to interest on the student loans.
- Washington University to Turn Student Loans into GrantsWashington University in St. Louis has joined a select group of elite schools who are turning student loans into grants for their neediest students...
- The Insiders Guide to Financial Aid: College Finance Options for the Beginning Stu... Funding college without incurring debt is possible. There are 4 common types of financial aid which include scholarships, grants, work study and grants.
- How Bad Credit Will Affect Your Student LoansOf all the debt a person can take on, generally student debt is considered an investment and therefore seen as good debt. This article looks at the affects of bad credit on student loans and how to get around it.
- Student Loans Help You Afford the High Price of College TuitionStudent loans are also a wonderful alternative for funding your education. There are many advantages to funding college tuition with student loans.
- Consolidating Your Student Loans - and Why You Should Before July 2006
- Consolidating Your Federal Student Loans
- Financial Aid: Getting Your Grip on Scholarships, Grants, and Student Loans
- Educational Funding; What Are the Options for High School Seniors Heading to College?
- Student Loans - What They Are and Why You May Need Them
- Cancelling Student Loans for Teaching Service
- Loss of Innocence: Universities and Student Loans
1 Comments
Post a CommentGreat article. I have one in College and two more to go.