The Best Way To Find College Loans

The Best Way To Find College Loans



The Best Way to​ Find College Loans
In most families,​ parents are the​ main source of​ funding for college costs .​
With the​ costs of​ college spiraling upwards,​ however,​ parents and students often need to​ find additional sources of​ money .​
Here are some ideas on​ how many families and college bound students can pick up some extra help.
The best sources of​ college money are grants and scholarships .​
These financial aids do not have to​ be paid back .​
The difference between the​ two is​ that a​ grant is​ money awarded on​ the​ basis of​ financial need; a​ scholarship is​ awarded based on​ many different criteria such as​ athletic abilities,​ honors programs,​ specific educational needs.
The next best source of​ funds is​ through federal grants .​
The Pell Grant Program is​ one of​ the​ most popular .​
These are government grants that are awarded each year .​
They are given to​ qualifying undergraduate students .​
You can pick up applications for these grants at​ high schools or​ colleges.
There are also many state grants and state scholarships available .​
State grants and scholarships are available to​ students who are legal residents of​ the​ state offering the​ grants and scholarships .​
It should be noted that many state programs require that the​ student attend a​ local college or​ university .​
There are some exceptions to​ this .​
It will vary from school to​ school but college grants and scholarships are a​ great way to​ find college money .​
Normally,​ students have to​ demonstrate financial need and meet certain school requirements in​ order to​ be eligible but these programs can be very helpful even if​ only in​ helping pay for books or​ living expenses.
The National Merit Scholarship Corporation is​ the​ largest private scholarship source in​ the​ US .​
These financial awards are given based on​ Preliminary Scholastic Aptitude Test/National Merit Scholarship Qualifying Test scores that are taken by high school juniors .​
For more information on​ this awards program you​ should visit with your high school guidance counselor.
Many students participate in​ the​ Reserve Officer Training Program (ROTC) hosted by many colleges .​
Those students who agree to​ serve in​ the​ military as​ commissioned officers after graduation can qualify for scholarships .​
High school guidance counselors have a​ list of​ ROTC schools that you​ can look at.
Stafford Loans can be an​ outstanding source of​ financing college .​
This is​ a​ government subsidized program and is​ available to​ qualifying students based on​ a​ needs analysis .​
Repayment of​ the​ loan does not kick in​ until six months after graduation .​
The PLUS (Parent Loan for Undergraduate Students) program is​ a​ new program and it​ allows parents another good way to​ find money for college .​
Parents of​ undergraduate students are eligible to​ borrow regardless of​ their current income .​
It should be noted,​ however,​ that PLUS loans are used primarily to​ assist with the​ cost demands of​ very large tuition bills .​
You can learn more about PLUS loans by doing an​ online search.
These are only a​ few of​ the​ many sources of​ college money that is​ available .​
Your local library or​ college financial aid counselor can offer even more possibilities and it​ worth the​ effort to​ search them out.




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