Tagged with student loans in our Blog
If other forms of financial aid are exhausted, such as scholarships and grants, then you can use loans to cover the remainder of your Cost of Admission (COA). On our website we discussed the Loan Borrowing Order: Federal Perkins Loan - 5% Federal Subsidized Stafford Loan - 4.29% (No interest while attending university) Federal Unsubsidized Stafford Loan - 4.29% (Accrues interest while attending university) PLUS Loan - 6.84% Alternative Student Loans - Based on credit (typically a higher rate than federal loans) When you are down to your last option, alternative student loans, there are lots of important things to keep in… Read more here!
As our previous blog post stated, even if you are not 18 yet, it is never too early to start building your credit. Having a good credit score is critical in today’s society even as a student. Credit is the final determinant of whether you are approved for a loan, what interest rates you are approved for, and your ability to rent an apartment if you move off campus. One of the easiest ways to start building your credit history is to get a credit card. If you are under 18 then you will need a parent to help you in… Read more here!
Going back to school shopping for yourself may not have been what you thought you’d be doing 20 years ago. But, with the ever changing job market there has been a drastic increase in adults returning to school to complete a wide variety of degrees. Some things have changed since the last time you attended class - one of the most notable changes being the ever-rising cost of tuition. However, one thing has remained constant, that financial aid is available to help make college affordable. In fact, there are more financial aid options available to you than your younger counterparts.… Read more here!
Categories: Financial Aid | Grants | Scholarships | Student Loans | Work Study | Financial Aid Applications | FAFSA | Go Financial Aid
Tags: adult student fafsa financial aid going back to school non-traditional student
Missing the FAFSA Deadline So you missed the FAFSA deadline. What now? First, deep breath. Second, keep reading. Affording college seems out of reach, but have no fear because there are more opportunities for you to get money for college. In order to make sure that you do not miss out on federal aid next year, make sure that you partner with Go Financial Aid and fill out the FAFSA on time and correctly. Scholarships There are a multitude of scholarships available for students to help afford college. There are scholarships based on your unique interests, field of study, minority… Read more here!
Federal student aid is generally allocated to those with a financial need or in a special circumstance, but students going to school for teaching can be an exception to that rule. This grant, funded by the U.S. Department of Education, rewards recipients with $4,000 a year for four years, saving you from $16,000 of school loans. You may be thinking, “Free money, that is not based on financial need…is there a catch?” Yes—Post graduation, you must serve a four-year term as a full-time teacher in a primary, middle, or secondary school in a high-need field and in a low-income community.… Read more here!
You may be thinking: “I’m not 18, so I can’t even start building my credit” or “I’ll just worry about my credit when I’m ready to take out a loan for a car or a house.” There are many misconceptions with how credit scores work, and I advise everyone to get their credit started and straightened out while they are still young. What is a credit score and who checks it? A credit score is a numerical value given to an individual, which represents their likelihood of paying back debts. Lenders do credit checks to decide whether or not to… Read more here!
Cost is a factor for most people in deciding where to go to school, but with your financial aid package, you could end up paying far below sticker price. The equation used to calculate financial need is: COA-EFC=Financial Need. COA (cost of attendance) is the summation of all expected yearly expenses of attending of attending a particular college or university. COA includes tuition, room, board, books/supplies, transportation and other personal expenses. EFC (expected family contribution) is the amount your family is expected to contribute toward your education based off of your family’s financial strength, and it is calculated by filling… Read more here!
For many of us, getting our hands on the financial aid letter from our choice school is a stepping stone, something to celebrate. After all, the funds listed on that piece of paper are what make college more affordable and therefore more possible. As a follow-up to our previous discussion on college acceptance and financial aid, let’s talk about a few more financial aid considerations that come into play upon moving on towards college life. Specifically, let’s talk more about that financial aid award letter and how to better understand and deal with it. Locate the free aid. On every… Read more here!
When you think of financial aid, usually such things as your college financial aid office, the FAFSA and a university-based financial aid account come to mind. However, did you know that over half of community and state colleges disburse financial aid money (loans, grants, etc.) in a different way? It’s true; these schools join forces with outside institutions to provide financial aid debit cards to college students. Sounds pretty handy, right? Wrong. According to new research, this method of providing aid is actually more troublesome and prone to increasing student debt. While it’s convenient to have your financial aid funds… Read more here!
Ah, the sweet smell of freedom…almost. The end of April signifies a few important things to college students: finals week (sigh) and approaching graduation for seniors (yay). It’s a great feeling to know that you will be done with the pressures of academia, but new challenges await you. One biggie is financial aid repayment. As the euphoria of freedom winds down, students realize that there are some major responsibilities to be had in paying back the money they borrowed for their education. In light of this startling realization, it’s a good idea to get ahead of the game. As one… Read more here!