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If you need student loan information, please read the following two articles on finding money to finance college. The first article gives good information about all types of student funding (grants, student loans, etc.) while the second article deals specifically about student loan information for graduate students. Hopefully you'll find the student loan information which will enable you to take that step toward obtaining a college degree.
You might also be interested in our inside page devoted to information on Pell Grants
Paying for College - Tips for the Adult College Bound
By Kelley Kilanski One of the first questions a potential college student, whether just out of high school or the seasoned adult, wonders is how to pay for college. This isn't always an easy question despite the answers that exist. For those just out of high school, the answer is typically to ask the parents what their plans are. For the adult, one of the first questions is how can you budget enough money and time to go to college, work and manage to pay for it all.
As someone who started college as an adult, I know it isn't easy, but there are some solutions. Believe it or not, many of the solutions are similar to those students who are just out of high school. The key for the adult is more planning.
When I went back to college, it was really a spur of the moment decision and I didn't have many plans on how to pay for college. Actually, I had none. Now, several 10s of thousands of dollars in debt, I realize that much of this debt could have been avoided had I simply planned a little better.
As an adult, once you plan on going to college, you need to take some time to plan how to pay for college. My recommendation is to take at least a year in planning. If you could save 20 thousand dollars by waiting a year, it really is worth it. In that year, you need to do some research into methods of student financial aid. These means looking into scholarships, grants and the various loans that are out there for adults.
Grants
Federal education grants, known as Pell grants, are available for those that have need. Now while this is to some extent income dependent, qualifying also depends on the number of dependents as well. One of the first things to do is to file a Free Application for Student Financial Aid (FAFSA). In doing so, you will automatically be considered for a Pell grant. Whether you qualify and how much you qualify for will depend on a variety of factors. Income and the number of dependents you have being two of them. Don't consider not applying because even a little grant money can save you money in the long run. Filing the FAFSA is also the first step in applying for student loans. You absolutely want to file a FAFSA regardless of your financial situation.
Scholarships
College Scholarships are not simply for those just out of high school. In some cases you might actually qualify for some scholarships that those students just out of high school don't qualify for. The reason for this is that adults generally have more life experience, have joined a variety of social groups or have participated in more community service. Social groups and community service go a long way in qualifying for scholarships because many scholarships base qualification on whether or not you are a member of a social group or the type of community service. Some scholarships are also based on ethnicity, gender and other individual factors. My suggestion is to think about who you are in both the basic terms, such as gender and ethnicity, and then to expand this to interests and involvement. By doing this you increase the number of potential scholarships you might be eligible for. Also, don't pay for a scholarship search. There are many scholarship searches that are absolutely free and can yield a great deal of scholarship money.
Student Loans
After looking into grants and scholarships, student loans are your best bet. But, I would caution you to apply for every possible scholarship you might be eligible before you take out student loans. However, if scholarship possibilities are limited, then definitely don't let the fact that you may have to take out student loans disturb you. For one, subsidized student loans do not accrue interest until you are out of school. Second, the interest, even for unsubsidized loans can be reasonable and your student loans do not have to be repaid until after you graduate. Believe me, the difference in your income because you have a degree vs. not having a degree will more than make up the cost of you student loan. However, all other options should be exhausted first.
As an adult, going back to school is much more daunting than if you go right after high school for a variety of reasons. First, most students just graduating high school have their parents to rely on in one form or another. Second, there is a level of confidence that goes with starting college just after high school that you don't necessarily have. This may lead you to take more chances with scholarship applications. However, none of this should hinder you from taking the same steps in finding money to pay for college. The fact is that because of your life experience, you may actually be eligible for scholarships that you may not have thought about in high school and if all else fails, there is the possibility of grants and student loans. In the long run, the benefits of getting your education will far exceed the costs of not having an education.
The author of this article runs Opinedmind.com and is a Ph.D student with vast experience in the issues of finding sources to pay for college. To read more on ways to finance college and to find free scholarship search resources, go to Opinedmind.com - Student Financial Aid
For more information about money management, go to Opinedmind.com - Money Management Article Source: http://EzineArticles.com/?expert=Kelley_Kilanski
Student Loan Information for Graduate Students
In terms of paying a large tuition bill, graduate students are no different than undergraduates. Their situation might even be worse because grad schools are sometimes pricier than other types of institutions. Fortunately, however, graduate students can utilize graduate loans to help fund their education.
There are two venues in which graduate students can obtain graduate loans: the government and private entities, (who provide alternative graduate loans). Each of these are discussed in more detail below:
GOVERNMENT GRADUATE LOANS
Government graduate loans differ from 'regular' undergraduate loans really in name only. So just like undergraduates, graduates have the opportunity to get a Perkins or Stafford loan from the government.
1) Perkins Graduate loan
A Perkins graduate loan is available to students who demonstrate financial hardship. It has an interest rate of only 5 percent and can finance up to $4,000 of the graduate student's education. For graduate students who are adversely limited economically, the Perkins loan is not a bad option. However, one must keep in mind that payments are still expected to be received promptly and perpetually. In extreme circumstances it is possible to request a deferment on loan payments until one is able to pay normally.
2) Stafford Graduate Loan
Stafford graduate loans are available to any graduate student regardless of their financial situation. Two types of Stafford graduate loans exist: subsidized and unsubsidized. The difference in the two lies in who pays the interest. For subsidized Stafford graduate loans, the government pays the interest. Students pay for the interest in unsubsidized Stafford graduate loans, though there is the option of not having to make payments until after graduation.
To apply for either the Perkins or Stafford graduate loans, one must submit a FAFSA form to the government. When the form has been processed the government will send a SAR (Student Aide Report) which will give further instructions on how to apply for these loans.
ALTERNATIVE GRADUATE LOANS
Alternative graduate loans, also known as private graduate loans, are loans funded by non-governmental entities. Companies offering these loans could be banks, credit card agencies or any other enterprise interested in helping graduate students secure student loans. The Education Resources Institute (TERI) is an example of a company offering this type of loan. It is called the Act Graduate Student loan program. The application can be filled out online at gradloans.com. Decisions are received in as little as 15 minutes.
Another company that is known for offering a wealth of graduate loans is Wells Fargo. In total they have five available: the Wells Fargo Graduate Loan, the Wells Fargo Collegiate loan, the Wells Fargo Advance Loan, the Wells Fargo Education Connection Loan and the Wells Fargo Education Career Loan. Additional information can be found at wellsfargo.com
If you would like to research additional alternative graduate loans, look no further than your favorite search engine. To make the search a little easier, first try all the major banks you know of since many do offer student loans services to their customers. So for example, if your favorite bank is Citibank, try entering "Citibank graduate loan" into the search engine. This will allow for a more specific response to come up. Some banks will even offer graduate loan comparison charts to help their customers see how their loans stack up against the competitors. These charts can serve as a further aide in researching graduate loans. To find one yourself, simply type "graduate loan comparison chart."
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