Money Matters: Funds for College
Updated: Aug 16, 2022
WHAT KEEPS PARENTS UP AT NIGHT?
WHAT KEEPS PARENTS UP AT NIGHT? How they are going to pay for their child’s college education. After all, we as parents want our children to be happy and successful
In this blog, we have provided some answers and suggestion that address the most stressful question and that can start the conversation between parents and their children that will the search for Funds For College.
QUESTION & ANSWER
Q: I’m planning to attend college in the Fall, and I’m looking for a college loan. How do I go about getting one?
A: Student loans make it easier to attend college because you can put off your starting date for paying them back until you get out of college. You can also apply for deferments after that period depending on when you find work.
1. Talk to your college financial aid advisor about the college loans that are best suited for your situation.
In most cases, federal loans will have the lowest interest rates. To apply, you’ll need to complete the Free Application for Federal Student Aid (FAFSA) at https://fafsa.ed.gov/.
Completing the FAFSA also lets you apply for federal grants (that you don’t have to pay back) at the same time. EVERYONE NEEDS TO FILE THE FAFSA… whether you think you make too much money or too little.
You file your FAFSA in October, but you can start gathering the information NOW so that on October 1st you are able to file.
Remember “The Early Bird Gets the Worm”…. The earlier you file your FAFSA... the more grant and scholarship money is available.
Look up a variety of banks that offer college loans. Check the interest rates, due dates of payments, and other details that may be in the fine print of any loan that may interest you.
Apply for grants.
Your school financial aid advisor can guide you to the grants that you may be eligible for. Get all the grants you can because you don’t have to pay back grants.
Career and College Counselors can help you find grants and scholarships that you child are be eligible for.
Apply for scholarships.
Scholarships can help you to pay for your child's education in addition to grants and student loans. Like grants, your student doesn’t have to pay them back. There are thousands of types of scholarship
Your child could be eligible for some scholarships simply because of your child's heritage or their interests.
Some scholarships pay all their education expenses, but you’ll find that most of them pay only a part.
Ask your student's school financial advisor where you can find more information about scholarships for which you can apply.
Applying for and securing your child's college funding is important. You may need more than one venue to fund their education, but once you have your funds in place, your child can begin their studies and be on their way to completing their degree.
REMEMBER to start early and call us Career and College Counselors. We can help you and your child through the College Admissions journey.
You can schedule your FREE Consultation by email Tom@CareerCollegeCounselors or by phone 570-460-4855
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