Whether you are in your first 4 years of college or are attending graduate school you are paying several times more for your college education than your parents and grandparents paid. This increase makes it difficult for students. But there are programs out there that give much needed assistance.
Undergraduates typically rely on a complex mix of scholarships, grants and loans. Those loans are sometimes taken out by undergraduates alone, others by their parents alone, sometimes a mixture of the two as when the parent becomes a co-borrower or co-signer.
The most common programs for students remain the unsubsidized and subsidized Stafford Loans. Subsidized loans are the most desirable, since the government pays the interest while the student is in school. But they are need-based. Unsubsidized loans are not need-based, making them available to a much wider group of students.
A detailed breakdown of what can be borrowed by who is available at: http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp or http://www.salliemae.com/get_student_loan/find_student_loan/undergrad_student_loan/federal_student_loans/stafford_loans/
Graduate students have to work a bit harder for financial aid. Graduate school is more expensive and less scholarship opportunities are available. Typically a graduate student has to work as a research assistant or other employment related to their major to pay their tuition.
In recent times the PLUS loan program has been extended to graduate students. In the past this program was restricted to parents of undergraduate students. Now it has been expanded to include graduate students and rather than making the loan to parents the money is loaned directly to the student.
PLUS loans have several advantages.
First, they’re available. Since they’re based on credit quality, not need-based, most borrowers can qualify. Relatively few grad students have had time to get into the credit binds that working adults often fall into. As a result, though their history may be sparse, they usually have few bad marks on their credit report. That makes the decision easier for college financial aid officials, who determine eligibility.
GPA sites
- Blog: Student Loan Repayment Billing Address ยป Adverse Credit Free …
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- Student Loan: Educational Aid | Student Car Loans
- Frequently Asked Questions About Student Loan Consolidation | Student Loans And Grants
- Student Loan Consolidation Centers Can Help Reduce Your Debt | Oes Tsetnoc
Mon, Jan 5, 2009
Scholarships