Financial Aid Services For Students

There are all kinds of financial aid services for students that range from federal funding to private sources. The first type of financial aid students are advised to apply for is federal funding from the United States Department of Education. They offer loans and grants that most students can qualify for. The first step is to complete a FAFSA, which stands for Free Application for Federal Aid. The financial aid office at your school can help you if you have questions. Also, rather than filling out a mountain of paperwork, you can fill out your FAFSA and submit it online.

Once this form has been submitted and analyzed, your financial aid officer at the school will consult with you on the types of financial aid you are eligible for. You will most likely get the Stafford loan first. This loan can either be subsidized or unsubsidized. Subsidized Stafford loans are loans that accrue interest but that interest is paid by the federal government until the student leaves college. Unsubsidized loans are loans for which the student pays interest each month as soon as the loan is issued. Whether or not a Stafford loan is subsidized or unsubsidized depends on financial need.

Perkins loans are need-based, awarded to student with financial hardship, on a first-come, first -serve basis. The government distributes the funds to the school, who then gives them to the student. There are Pell grants that many students can also qualify for, which do not have to be repaid. And, you may want to check with your financial aid office about work study programs at your college. This means the compensation for the work you do at the school goes towards your educational expenses.

If the federal help you receive from the government is not enough to cover your educational expenses, you may want to look towards private loans. There are financial aid services for students from banks, credit unions and private lenders. When investigating private lenders, compare interest rates because students are often subject to larger rates because of their credit. Also, because many college students do not have sufficient credit history they may need a co-signer in order to obtain private loan. You should also apply for any scholarships you may qualify for, as they are also money that does not need to be repaid and there are plenty of them out there.






 

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Financial Aid News:

 

Rep. Kathy Hochul confronts student loan horror stories - Washington Post (blog)

Rep. Kathy Hochul confronts student loan horror stories
Washington Post (blog)
Y.) was one of 13 Democrats to vote for a House Republican plan to extend lower college student loan interest rates. She voted for the bill even though it would cut $6 billion from a preventative health fund to pay for the lower rates EUR” an idea .

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The Fuzzy Math in Financial Aid Offers
Students are confused by assistance that's really debt..


Sallie Mae Competes with Feds for Fixed-Rate Student Loan - BusinessWeek

Sallie Mae Competes with Feds for Fixed-Rate Student Loan
BusinessWeek
Interest rates on the loans will range from 5.8 percent to 12.9 percent, depending on credit history and underwriting standards, Newark, Delaware-based SLM said today in a statement. The rate on the government's Stafford unsubsidized student loan, .
Sallie Mae Introduces Fixed-Rate Private Education LoanMarketWatch (press release)
Sallie Mae to offer fixed-rate student loansCBS News
Sallie Mae Will Offer Fixed-Rate Private Student LoansNew York Times (blog)
Local Talk News
all 16 news articles »
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White House pressures GOP on student loan bill - Atlanta Journal Constitution

Atlanta Journal Constitution
White House pressures GOP on student loan bill
Atlanta Journal Constitution
By ALAN FRAM AP WASHINGTON EUR” The White House pressed Republicans Monday to back Democratic legislation preventing interest rates on federal student loans from doubling in July as the two parties remained deadlocked over how to pay for the move.
Senate weighs dueling plans over student loan ratesFox News
Student loan rate, plus more to watch for Monday in politicsABC News

all 392 news articles »
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Student loans face rate hike - Poughkeepsie Journal

Fox News
Student loans face rate hike
Poughkeepsie Journal
On July 1, the interest rate for some new federal student loans is to increase to 6.8 percent from 3.4 percent. The president wants to extend the lower rate for another year. Republicans in Congress say they support the extension, but disagree with the .
Student loans 101: The interest rate uproarThe Spokesman Review
White House: A hike on student loan interest rates would affect 7.4M borrowersReporterNews.com
Skirmishes over student loan rate offer fall previewChicago Tribune
Atlanta Journal Constitution (blog) -Catholic News Service -Huffington Post
all 461 news articles »
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The Choice Blog: Part 1: Answers to Readers' Questions on Financial Aid
This week's first installment of expert financial aid advice from Mark Kantrowitz, the publisher of FinAid.org and FastWeb.com...


Financial aid officials concerned by proposed rate hikes
A hike in federal student loan interest rates could be particularly damaging for non-traditional students attending Iowas community colleges, financial aid officials said today. The U.S...


Getting the most from your financial-aid package
In recent weeks, Eva Chung's family watched with pride as acceptance letters arrived from all seven of the colleges to which she applied. But some of that initial euphoria has worn off as financial aid ...


You Should Be Very Wary Of The Dangers Of Private Student Loans - Business Insider

Queens Courier
You Should Be Very Wary Of The Dangers Of Private Student Loans
Business Insider
Study after study shows that students are taking on more debt than they can reasonably pay off just to attend school, even though they're not promised a high-paying career after graduation. Private student loans in particular have driven students into .
How much do you owe in student loan debt? Share your storyDetroit Free Press
Sizing the Market for Student Loan CollectionsInsideARM
Susan Tompor: Do the Math Before You Borrow the Money for CollegeLoanSafe
NASDAQ -Queens Courier -Lincoln Journal Star
all 10 news articles »
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