Jeff Mictabor asked:


Hopefully by now your child has decided which college to attend this fall, and you are beginning to formulate your financial strategy for how you will fund the college experience. An excellent option is the PLUS Loan or Parent Loans for Undergraduate Students, recommended by NextStudent, a leading Phoenix-based education funding company.

As long as your child is enrolled in school at least half-time, this federally backed student loan allows parents to borrow funds to cover such things as tuition, housing and meals and even books and supplies, up to the total cost of the student’s education, minus any other aid.

In order to be eligible for the PLUS Loan, both students and their parents must complete the Free Application for Federal Student Aid (FAFSA). According to NextStudent, parents cannot be turned down for the PLUS Loan based on too high or too low an income, because the student loan is not based on financial need or how much money parents earn. However, parents can be turned down for an adverse credit history. Once the FAFSA is submitted and reviewed by the government, parents will receive a Student Aid Report, which will allow them to apply for the PLUS loan. Applying for a NextStudent PLUS Loan is simple and easy and may be done either over the phone in as few as five minutes, or it may be done online using E-Signature.

Availability after Tuition is Paid Makes PLUS Loans Convenient

A welcome feature of the PLUS Loan is that it is available even when parents already have paid for their child’s tuition and other related educational expenses. Although the maximum interest rate on the PLUS Loan is set by the federal government, NextStudent offers many opportunities for parents to save money through incentives.

For instance, when borrowers fund their PLUS Loan through NextStudent and pay via auto-debit, they will receive a .25 percent reduction on their interest rate. In addition, after making 12 consecutive on-time payments, borrowers will receive a 3 percent cash rebate on their remaining principal balance, and a 2 percent rate reduction after 48 consecutive on-time payments.

Grad PLUS Loans Offered by NextStudent

A similar federal student loan product called the Grad PLUS Loan is available for those individuals who decide to pursue graduate or further professional studies and enables students to fund their education themselves. Again, students may finance the entire cost of their graduate work (minus federal aid) and use the funds to pay for any associated costs such as supplies, books and other materials. While the Grad PLUS Loan Program’s maximum interest rates are set by the federal government, just like with the PLUS loan Program, NextStudent offers many money-saving competitive benefits for those pursuing postsecondary education. An additional incentive is that students have the option of postponing repayment until after graduation. Additionally, like PLUS Loan borrowers Grad PLUS borrowers may be eligible for a federal student loan consolidation.

NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about Student Loans, Private Student Loans, and Student Loan Consolidation.

Kevin Ihrig asked:

Grant money comes in more than one flavor for your college education. Below I explain the types of grant money and what that means for your college money search. Grants are free money for college, and never have to be repaid.

1. FSEOG

First the Federal Supplemental Equal Opportunity Grant. The FSEOG program awards grants to undergraduate students that have exceptional need. Students who qualify for this one come from very limited means. Meaning not much money.

Your max award from this program tops out at $4000. The actual amount will depend on your other financial aid, and any other money you have. Awards also depend on the FSEOG money your school has available, so check with the financial aid office.

To apply for this or other federal grants, you will fill out the FAFSA, or Free Application for Federal Student Aid. More on this at the end.

2. Pell grant

The Pell grant program currently tops out at $4300 this school year and will rise to a max of $5400 in 2012. You have some eligibility requirements, standard things like progressing in school, attending an eligible institution, be a citizen, and a few others. You can receive a Pell grant even if your family has an income of up to about $45,000. Most of the students who get a Pell grant have a household or personal income under $20,000.

Remember, once you qualify under federal student aid (FSA) guidelines, you can apply on your income only, without your parents. I remember reaching that point at 22, and using Pell grants. Very helpful.

3. The Academic Competitiveness Grant

The ACG started in 2006 and only applies to first and second year undergraduate students. You can qualify for an award up to $750 for first year students and up to $1300 for second year students. This grant adds another qualification to get money for college. You must have completed a rigorous course of study in high school.

What is that? I looked at several. Basically, you have to do better than the basic graduation classes. You should look up your state at this link to find out your requirements:

http://www.ed.gov/admins/finaid/about/ac-smart/2007/state-programs-07.html

Every state has a description of a rigorous course of study, along with a few extras like DC, BIA, DOD schools, and Puerto Rico. And you have some options if you will finish high school soon. You can pass two advanced placement tests, or international baccalaureate tests. Some states offer a concurrent enrollment option, too, where passing core college classes while in high school will qualify you.

4. SMART

A new program called Science and Mathematics Access to Retain Talent (SMART) also offers federal government aid. This program aims directly at you engineers, scientists, and other highly technical fields. If you have a high tech major, you should apply. Be aware that this program complements the ACG above. The ACG applies to first and second year students, while SMART applies to third and fourth year students.

All of the above require that you fill out the Free Application for Federal Student Aid (the FAFSA). If you use the online FAFSA, the form will update automatically to tell you that you can answer the ACG questions, which is how you apply for this program. If you used a paper FAFSA, your student aid report (SAR) will show you if you should answer the ACG questions or not.

And if you don’t get enough in grants, try a Stafford or other student loan. They can help.

Boris Tomson asked:


Free College Grants to Pay for Your Higher Education



Student Loan Basics

This post is primarily about the basics about student loans. I really wanted to show off all sides with regards to this. Here Visit to Apply Today http://obamagrantforcollege.blogspot.com/  ,

it’s sources are tackled thoroughly tackled for students to have more information in order to cater their needs and answer the questions that lingers in their mind which starts with where, how, when and what. The following is from a reliable source which I intend to get for people.

There are two sources for student loans — the federal government and private lenders. In order to obtain most federal student loans, you will first need to file the Free Application for Federal Student Aid (FAFSA). In most instances the FAFSA is required for all federal financial aid including federal student loans. There are four main federal loan programs:

Federal Stafford Loan Federal PLUS Loan Federal Graduate PLUS Loan Federal Consolidation Loan 

*You can learn the ins and outs of each at their respective pages on this site. The Federal Stafford loan is made in the name of the student, is based on need (only the subsidized portion), does not require a credit check (it’s guaranteed by a private guarantor and backed by the government rather than credit/income/assets, etc.) and does not have to be repaid until after the student graduates, leaves school or stops attending on at least a half-time basis. Some schools offer Stafford loan directly through the federal government. These are commonly known as Direct Stafford Loans. The schools that offer Direct Loans are known as Direct Lending Schools. Other schools offer Stafford loans through banks or other lenders. These schools are commonly called FFEL schools (Federal Family Education Loan). In order to obtain a federal Stafford loan through a FFEL school, you will need to choose a lender.Visit to Apply Today http://obamagrantforcollege.blogspot.com/

 

Frank Joseph asked:


There is no question that the Economic Crisis in America will affect college tuition costs and how families deal with paying them.

In light of the “good times” we have enjoyed prior to the recent times, parents were able to find ways to pay tuition cost through a secure job, home refinancing and other types of personal loans available then.

This no longer being the case, parents that were once secure in their belief they would be able to come up with the necessary funding to pay college tuition are now facing a new challenge in relatively new waters to them. Many people today find they need to look to the government to help them meet their needs for college financing. The nice thing about these possibilities is that there are many avenues available that do not have to be paid back.

Grants

Grants are a type of student aid that is awarded by the government. Grants for college students do not have to be repaid.

Grants are based upon financial need, as calculated by the federal aid program. The first step in applying for government grants is by completing the FAFSA.

Of course every student and parent would rather receive grants instead of loans, since they do not have to be repaid. So the student hopes to see a grant award when the results are returned from the application.

There are a few things to be aware of, however, when expecting a grant. The funds available for grants are limited, therefore the grant will not usually fully fund educational expenses. If the student is planning on attending a community college where tuition rates are lower, it is possible that grants will cover a greater percentage of the tuition and fees.

The second thing to be aware of is that when the need analysis is done by the government or school, the expected contribution of the parent is usually higher than in reality what is possible for most families. This expected contribution effects the amount available to the student for grants.

Another significant factor is that if the parent or guardian claims the student as a dependent on income tax returns, this effects the amount of aid available to the student. In general, a student who is ‘independent’ of the parents as far as the tax law goes, will receive more in financial aid awards.

First year students may find that they receive less grant awards than they do in subsequent college years.

For more detailed information on tuition financing and other related issues to Colleges and universities please visit my website www.college-finance.financebusinessadvice.com

There you will also be able to download, FREE, a detailed college guide which explains how to receive FREE GRANTS and FREE FINANCIAL AID

 

Kara Lilly asked:


You don’t have to be a mega spender or a gambling man to blow through most of your cash by the end of Freshman Year! Its not that you didn’t budget, its just the fact that this is your first time living alone and managing your finances. Without the right tools this can be a huge hassle. Spending you weekly allowance or money that you made working a summer job is a lot easier than having to deal with college tuition, rent, trips back home, transportation, food and entertainment, student loans and not to forget, making good grades!

A good way to get the ball rolling is by making a detailed budget of all your expected expenses and then adding a 10-20% cushion to it. The second step would involve seeking out financial aid. You should fill out the FAFSA and send it to the colleges you’re applying to. The form details information on your parent’s and your incomes, liabilities and assets and is used to determine your financial aid package. While being mostly need based, your financial aid package usually has three parts: Grants, Student Loans and Work-Study. Grants are free gifts, which unlike student loans, you never have to repay! Student loans come in various forms. They could be subsidized; meaning the interest rate charged on it could be lower than the prevailing market rates. Or they could be un-subsidized. They may even be loaned to your parents to pay for your education. Regardless of the kind of student loan you get, you do not have to start making payments on them until a few months after you graduate. Work-study gives student access to specific jobs on campus that are paid for in part by the federal government. Do pay close attention to your financial aid package each year. Even though your financial aid package total is the same, the distribution of grants, student loans and work-study may change on an annual basis.

There are various other forms of aid that you may be eligible to receive. Unlike need-based financial aid, Colleges usually have some funds available for high achievers on a merit basis. There is Private, non-college aid that you may be eligible for. You may even think about serving the country and joining the Army ROTC, Air Force ROTC or the Marine Corps. Along with excellent training programs the armed forces may pay for a bulk of your tuition!

And if you haven’t struck gold with either of these resources, you can always go to a private lender and apply for student loans. The process is generally hassle free and most students, when applying with a co-signer, like their parents, are approved for student loans covering the entire cost of their education with favorable payments terms. You do not have to start paying on almost all private student loans until about six months after graduation.

Anamika Gupta asked:


Finding A College scholarships grant money

The cost of a college education has risen to unthinkable levels over the last two decades. Few parents have the extra cash on hand to cover these costs, so student loans and mounting debt have become a reality for many students. Image graduating with an outstanding debt of 50 to 100 thousand dollars. It almost defeats the purpose of getting that degree in the first place. With no end to tuition increases in sight, financial aid packages are essential for most students.visit now http://available-grant-money.blogspot.com

Fortunately, aid opportunities have also multiplied in recent years. Scholarships and grants were once thought of as only available for the poor or the brightest students. That is no longer true. These days, almost everyone is eligible for some type of award.

Free money for college can be divided into two basic categories: scholarships (usually merit based) and grants (usually need based). Of course, many other conditions apply to various awards. Minority status, gender, career plans, and field of study are the most common qualifiers for today’s financial aid awards. Almost everyone can use one of these categories to focus their search for aid.

One of the best sources for college grants money is the federal government. Be sure to submit The Free Application for Federal Student Aid (FAFSA) as soon as possible. This will tell you if you are eligible for a Pell grant, and colleges will use this information to determine if you qualify for a school-sponsored grant. Private grant foundations may also require the FAFSA be completed before considering you for an award.

Ideally, a student would start looking for college grants money during the junior year of high school. This may seem early, but some awards require an application be submitted the year before you begin your first semester in college. Furthermore, collecting the names and contact information of prospective awards can take months. You must also factor in time for completing lengthy application forms, writing essays, and scheduling interviews.

In your search for college grants money, focus on three main sources. First, search your local community. Start with the high school councilor’s office, your local library, churches, community organizations, and any corporation that is based nearby. Next, contact the financial aid office of each college you are considering. They can tell you about all school-based awards that may not appear in the standard listings. Finally, use the Internet. The standard search engine is of some use, but dedicated college grants money search sites are a tremendous resource. Some of these data banks have up to 800,000 awards indexed. Best of all, you can search based on a personal profile that will match college grants money to your unique situation.

Of course, this article can only get you started in the right direction. College funding is a complicated process and it is easy to feel overwhelmed. Remember that almost half of all college students receive some type of aid, so the chances of success are good. With a dedicated and organized search plan, you can get your college grants money share too .

 

A Guide to Student Grants money and Scholarships

Colleges and universities can be expensive… sometimes getting accepted into the school of your choice can be the easy part of the educational journey of the new student. It isn’t always easy to find the money that you need to pay for your education, but there are ways to make paying for school much easier. Two of the more common ways to ease the cost of continuing education are student grants and scholarships, both of which provide certain amounts of money that can be applied toward the cost of further education without the need to repay them.

Student grants and scholarships aren’t always easy to find or to win, but the extra time taken in researching and applying for them is well worth it if you are awarded any of those that you apply for.

Defining Grants and college grants money

The first thing that you need to know when looking for student grants and scholarships is exactly what the difference between grants and scholarships is. Both grants and scholarships are funds that are given to students based upon academic performance, financial need, or other reasons, and do not require the student to pay them back after graduation unlike student loans.

The major difference in grants and scholarships are their origins and the ways in which they are used. Grants are usually given by government offices and non-profit organizations and can generally be used to cover a variety of different expenses. Scholarships, on the other hand, are usually created by businesses or private individuals and are used to cover specific costs such as tuition or dormitory costs.

Both grants and scholarships must be applied for, and are generally considered to be highly competitive since there’s only so much grant or scholarship money to go around each semester or each year.

Finding Grants and college grants money

There are several different ways that you can locate grants and scholarships to assist with the cost of attending a college or university. Most school guidance counselors have listings of available grants and scholarships, as well as application information on many of them. Additionally, the financial aid offices of the colleges and universities where prospective students are considering attending can provide detailed information on many of the scholarships and grants that their students receive.

The internet can also be a useful tool in assisting your search, allowing you to find grants and scholarships that can be applied for that many people don’t even know exist. While all of these might not be large grants or scholarships, even smaller ones can provide some much-needed financial aid.

The Application Process of college grants money

Unlike many loans, the applications for grants and scholarships are usually somewhat involved and may require several different items in addition to the application. Many scholarship and grant applications require letters of recommendation from former teachers, community or business leaders, or others who can speak knowingly of the applicant, and they may also require essays or other written pieces from the applicant as well.

Those scholarships and grants that are given based upon financial need may require that tax statements or earned income statements be provided by the student or by their parents, so that the decision makers might be able to determine that the student falls within the level of financial need that is needed for the particular grant or scholarship.

Others may also require that the student or their parents be employed in a certain industry, be a member of a certain organization, or meet other criteria set forth when the grant or scholarship was first created.

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Get more information on college financial aid and conduct your own scholarship search at available-grant-money.blogspot.com, home of the Internet Guide to Funding your Education, as well as other useful services and products for students and teachers.visit now http://available-grant-money.blogspot.com