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Financial Aide For College – What Are Your Options

April 29, 2012

Financial Aide For College

Financial Aide For College

There are a small number who are fortunate enough to have their education paid for via scholarships or help from their family, but most all students have had to obtain financial aide for college through more traditional methods in order to fund their college degree. Being that you are looking for financial aide for college it means that you are interested enough in considering the descision to go to college, which getting your degree can help you immensely in so many ways. But if you do not have the money to pay for college outright, don’t let that deter you from attaining your degree, as there are so many ways that you can go about getting financial aide for college, which below we discuss in great length about the methods that you can use for yourself.

Methods For Getting Financial Aid For College

First things first, and that is filling out a FAFSA, which most like you have heard of which it stands for Free Application For Federal Student Aid. This can provide you with financial aide for school in two forms, those being grants like through the Pell Grand and the Supplemental Opportunity Grant as these are two great grant programs, where you can get thousands of dollars a year from to use towards funding your college education, which the money is free, you never pay it back. The other form of financial aide for college that comes from filling out your FAFSA is federal loans, which the 3 main loans programs offered are the Perkins Loans and Stafford Loans which both have options where your credit score doesn’t dictate eligibility only your financial need, as well as PLUS Loans which are specially for parents who want to take out a grant to fund their childrens schooling. You will need to fill out the FAFSA every year that you are in school and are looking to receive financial aid for college through it.

Personal Grants & Scholarships

Another great way to get financial aide for college is to apply to programs, both private and federal, that offer grants for things like what race you are, your religion, age group, talents, marital status, sports you played in the past and more. Also depending on what profession you are looking to go into, there can be grants for that area of study along with programs that offer to give you financial aide for college that can fund your entire education after you make an agreement with them that you will provide your service in specific areas that need teacher in what you are studying.

Through Your School

Schools offer studetns financial aide packages that can provide funding for education, which you can use for your college. Now often times this can provide you with money to pay for most your education but not all of it, which you can actually negotiate with your college and ask them to provide you with more funding. Getting financial aid for college directly from the school you are going to can provide you with great repayment terms as well as low interest rates.

School Location

If you are unsure about which college you ultimately want to attend, consider going to a lesser known college in more of an obscure location that some of the most popular areas. Doing this can help you get lower tuition as well as more options for financial aide for college through the school itself as often times these schools will provide excellent financial aide to attract students to attend their school.

Federal Work Study Program

Now you can also attain financial aide for college by using working a job that is provided to you through the Federal Work Study Program which is actually done by going through your school as most all colleges throughout the US provide the FWSP which they provide students with jobs that have to do with either the profession that they want to enter or a related profession. The money that is earned by the student on the job goes to paying their tution bills.

Private Lending

Now the last option that you will want to consider is private lending which you can get through private providers like banks, financial institutes and better yet credit unions. Now private lending gets a bad name due to the fact that it comes with lareger interest rates and less time provided to pay offer your debt, but it can be used when you are out of resources, which credit unions should be your first place to start when looking for private lending.

If you have came to this page and are still in high school, the best way to get financial aide for college is obviously striving to get the best grades as well as partaking in extra curricular activities as you can get grants and scholarhips based off of both of these categories.

Grants For College – How To Get Them & The Best Programs

April 1, 2012

Grants For College

Grants For College

When it all comes down to it, you obviously want to be in as little debt as possible at the conclusion of your schooling, which applying and attaining grant money should be your first priority as this is money you can use for college and never worry about owing anything on it. Even if you feel that you aren’t going to be eligible for grants for college you should apply anyway as studies show that a large percentage of individuals who didn’t apply for grants due to the fact that they believed that they wouldn’t get any money were actually eligible for some money. Below are different programs and tips that can help you secure grants for college that will help you get the money you need for schooling without having to borrow or limiting the amount you have to borrow.

Ways You Can Get Grants For College

FAFSA

The first step that you want to take on your pursuit for grants for college is to fill out a Free Application for Federal Student Aid (FAFSA) as this is the holy grail of getting federal student aid, one of the programs being the Pell Grant which offers eligible applicants up to $5660 per year that they can use to pay for their tution and other school related fees and expenses. There is also a great smaller grant program called the Federal Supplemental Educational Opportunity Grant which offers eligible applicants grant money for college tuition. Not only can you get grants for college by filling out the FAFSA you will also be applying for federal student loans which offer your lower interest rates than private student loans as well both the Perkins and Stafford loans do not based your eligibility off your credit score only your financial need. This college grants resource should be used as soon as January 1st of the specific year that you are going to need federal financial aid, which students must fill the FAFSA out each year they want to receive assistance from the financial aid programs that are offered through the FAFSA.

The FAFSA will demand information from you, both personal information and information about your parents related to how much financial aid you will be receiving from them or any other sources if any at all, which it is basically information needed for the government to determine how much money you will be eligible for.

Academic Competitiveness Grant

This federal grant program offers grants for school to both freshmen and sophmores who have proven to have excelled academically, as well as possess great leadership skills and community services abilities.

The SMART Grant

This grant is offers grants for college that are specifically for juniors and seniors and is another one of the big federal grant programs. This programs is also study specific which it offers grants of up t0 $4000 to students who are studying the following:

  • Computer Science
  • Mathematics
  • Engineering
  • Science

Personal Grants

There are so many great school grant programs out there that base their main eligiblity requirements off of things like:

  • Ethnicity
  • Marital Status ex. Single Parent Grants
  • Age ex. Adult or Teen
  • Income
  • Going Back To School Grants
  • Grants For Specific Studies

This is just a small example of the types of college grants out there being offered for personal situations that you can take advantage of, which may not offer as much money as some of the bigger programs that offer grants for college, or they may, but even if they don’t it is still free money that you never have to pay back so you might as well apply for as many as you can.

Employers

Another method that you can utilize when searching for scholarships for college is to ask your employer if they offer any employee grants for school or if they would consider doing so, which you can offer to stay with the company for a certain amount of time in exchange or agree to working other hours and/or even agreeing to hit certain numbers.

From The Source

Don’t forget to visit your colleges or future colleges main office and ask them if the school offers any grant or scholarship programs that you can apply for as many schools have their own programs that they offer to their students.

 

If use up all money that you got from grants for college, remember that you can work in the Federal Work Study Program that is offered by most all colleges throughout the USA which your school will find work for you that is usually employment in the profession that you are looking to go into, which all the money you earn goes to paying for your tuition, which can leave you debt free at the end of your schooling. If you are still in high school be sure to apply as soon as you are aloud to, and keep track of requirements as well as due dates so you can meet them and be ahead of the game come time for you to go to college.

 

What Are The College Financing Options? – How To Fund Schooling

March 3, 2012

College Financing

College Financing

When it comes to college financing you may know that their are loans and grants, but you may not know where to start, which is where we come in to help! Being that college can run you anywhere from $10,000 to $100,000 or more, finding financing for college is the main priority of most all students as well as soon to be students. Which if you are intending on going to college in the very near future, it is the best to get started with applications as soon as possible as it will offer you the best chances to become eligible for college financing, which the first place to start is:

Free Application For Federal Student Aid (FAFSA)

The FAFSA is filled out by over 14 million students each year and can be filled out as soon as January 1st on the year that you wish to attain federal college aid. This is the best place to start because the loans offered provide the the lowest interest rates around as well as are fixed interest rate loans, meaning the once you get the loan and say you got it at a 6 percent interest rate, you will pay 6 percent on your loan payments until the entire loan is paid off. This is such a great aspect of these federal college financing loans as the market for student loans are always fluctuating when it comes to their interest rates, so if the market is offering higher interest rates, it won’t matter as your interest will never be affected. Now federal college funding through loans come in the form of three different loans, those being:

  • Stafford Loans - This loan based eligibility off of your financial need and is offered at a current fixed interest rate of 6.8 percent which you can borrow up to $18,500 througout the entire time you are in college. This college financing option also offers a 6 month deferrment to those who attend school at leat half time, which is where you do not have to start paying your loan debt back until 6 months after you have either graduated or dropped out.
  • Perkins Loans – The Perkins loan is also not based off of your credit score but off of financial need and offers a 5 percent fixed interest rate. This loan comes with a 10 year repayment, no accruing interest as the interest is paid off by the government with this loan which also applies to the 6 month deferrment period.
  • PLUS Loans – PLUS loans offer an option for parents looking to provide their children with college financing taking the burden of the debt. This loan requires one has good credit, which the better the credit score the better the chances of becoming eligible for the loan as well as better interest rates present themselves. This loan can be applied for by parents of the student needing college financing, a gaurdian and possibly a step parent and comes with an interest rate of 8.9 percent. These loans can also be obtained for multiple students without compromising how much each student can get.

These federal student loans offering college financing for tuition as well as other related expenses like supplies, transportation, books and more. Now filling out a FAFSA is also super important for the sole reason that you can become eligible for federal grants, which do not have to ever be paid back like you have to with loans. One of the grant programs that come with filling out a FAFSA is the Federal Pell Grant where the applicant can become eligible for up to $5660 a year to use for college financing. You should know that you need to fill the FAFSA out every year that you are in school and are looking for federal school financing.

College Financing With Private Student Loans

Federal college financing loans come with borrowing limits which are based off of various factors, which can limit the amount you can borrow and leave you not enough money to fund your education, which is where private student loans come in. The place that most students usually look upon for private college financing is their bank or other banks, which the bigger banks out there provide, banks like Bank of America, Citi Bank, Washington Mutual among others. Now these aren’t the only types of organizations that offer private college funding, there are also other providers that can be found that specialize in college financing through private loan lending, one of the biggest ones being Sallie Mae.

Now private student loans should only be used when your federal college financing has ran out and you still have tuition to pay for, which is where private loans should be obtained as they cover all your college fees except for what federal aid has already covered.

Private student loans come with higher interest rates and are variable rates meaning they can go up or down anytime. They are also fully credit based, so if you have to apply for private college financing it is best to have a good credit score, whether it be yours or a co-signers, as the better the credit score the better your interest rate will be as well as provide you with better odds in being eligible for attining a loan from a private lender.

Now that you know the drawbacks of private loans, they can still provide you with the money needed to pay for college. If you need to utilize private student loans, the best thing to do is to consult the services for a credit union first, as credit unions are known to offer great interest rates as well as better chances of getting a loan without having a good credit score.

Other College Financing Methods

These methods below can help you minimize your total debt that you accrue during college, and provide you with excellent college financing:

  • Federal Work Study Program – There is over 3000 colleges that offer their students the opportunity to participate in a Federal Work Study Program which is where one can obtain a job through the school where all the money that one earns during this jobs goes directly to paying for tuition. The best part about this college financing option is that the jobs are usually jobs that are related to the profession that one is going to school for, offering networking opportunity as well as getting great hands on training.
  • If you are employed then you can talk to your employer and ask if they provide their employees with scholarhips or grants that can be used towards college financing, and what the requirements are to attain these loans.
  • Grants – There are a myriad of different grant programs that one can apply for. These college financing grant programs are offered for things like different professions, financial need, ethnicity, single parents, adults, teens and more which you can seach for grant programs that apply to your personal situation by doing an internet search.
  • Through Your College – Many schools also have lending programs where they lend their student loans directly and you pay them back to your college, providing another options that can provide you with college financing.
  • Talk To A Counseler – Making an appointment with a guidance counseler where can discuss what college financing options are available to you as they may able to give you information on getting local and national funding and other programs to apply for.

 

How To Get Free Grants For College

February 11, 2012

Free Grants For College

Free Grants For College

If you are looking for free grants for college to help you pay for your education, ones that don’t ever have to be paid back, then the first place you want to start is filling out a Free Application For Federal Student Aid (FAFSA). Filling out a FAFSA, which can be done as soon as the first of January for that years federal student aid opportunity, will open up the possibility of you qualifying for a host of different federal grant programs, which are only applicable to you if you fill out the FAFSA. One of the major grant free grants for college programs offered through this application which you may be familiar with is the Pell Grant, which if one qualifies for it they have the opportunity to get up to $5660 in free colege grant money which can be used not only for tution fees but also on other aspects of college like books, materials, transportation, living expenses and even a laptop. This is just one of the grant programs, which the FAFSA will also allow you to find out if you are eligible for federal student loans like the Stafford, Perkins and PLUS loans which offer much better intrest rates and repayment options compared to private loans. It should be known that you need to fill out a FAFSA every single year you are in college and are looking for federal assistance.

It should be known that even though you may not think you can qualify for free grant for college or any other federal student aid for that matter, chances are you can receive some sort of assistance as statistics show that almost every single student is eligible for federal assistance for college. So filling out a FAFSA is the first place to start and can yeild free grants for college, money that you would never have enjoyed if you didn’t filling it out.

Other Options For Free Grants For College

There are other roads that you can explore that can result in offering your free grant for college, which some consist of:

  1. Inquiring about free grant for college can be done through your college or futre colleges front office, which you can make an appointment with a counseler who can give you informaton about grant offered through the college as well as outside sources that they can point you to.
  2. If you happen to be working while going to college, often times employers offer grant for college which can result in agreeing to stay a certain length of time at the jobs, in the form or bonuses ad more. This can also be a great option for those looking to advance in their career and looking to do it at the workplace that they are at now, as you can propose that you will become a much more valuable resource to the workplace with a degree.
  3. The other way of doing things when it comes to obtaining free grant for college is to search for grant that are offered for specific situations and degrees. For example if you are a single mom, search for grant for single mothers, or if you are looking to become a nurse then you can search for free college grants for nursing school, your ethnicity, etc.

Free Grant For College Alternatives

If the free grant for college that you qualified for don’t quite cover what you need to pay tuition, keep in mind that there are other alternatives that you can use that can help pay your tuition, leaving you with less or no debt when you get out of college. A great alternative to consider is:

  • The Federal Work Study Program – Over 3000 schools are part of the Federal Work Study Program which is a program that provides students with work through their college, in which the work is most always related to the profession they wish to go into. This free grant for college alternative will not only allow you to pay off tuition debt as they money you make goes towards paying your tuiton, but it will also givbe you valuable hands on experience in the profession you want to go into, which is often demanded by employees as well as looks great on entry level applications.