Student Loans & Financial Aid info

When entering college, students can be ill prepared for the costs that present themselves. There is tuition, room and board, and books. Just buying pens and notebooks can really add up! Student financial aid is something that most look to for help and it comes in many forms. Student financial aid is designed to help students pay these costs while attending classes. Scholarships can be one type of a student financial aid award. Generally, there are two types of student financial aid: merit-based and need-based.

Merit based student financial aid can include merit-based college financial aid scholarships awarded by the individual learning institution being attended as well as scholarships awarded by outside organizations.

Merit-scholarships are usually awarded for outstanding academic achievements, though some merit student financial aid scholarships can also be awarded for leadership potential, special talents and other personal characteristics. Merit scholarships can sometimes be awarded without regard for the actual financial need of the student. At many institutions, every student accepted is automatically considered for merit student financial aid scholarships. At other schools, however, there is a separate application process required for consideration for student financial aid. Athletic scholarships are a form of merit college financial aid that takes athletic talent into account.

Need-based student financial aid is awarded based on the individual financial need of the student. Within the realm of need-based federal student financial aid, there are several different programs such as grants, scholarships and Federal Pell grants, Federal Perkins Loans, Federal Stafford loans (both subsidized and unsubsidized) and Federal PLUS loans.

Federal Perkins loans are made by participating schools, in accord with annual appropriations from the U.S. Department of Education. Federal student financial aid in the form of Federal Stafford loans and Federal PLUS loans is offered by participating lenders under the Federal Family Education Loan Program. To qualify for federal student financial aid, a student must file the Free Application for Federal Student Aid (FAFSA). This application uses a calculation that takes into account income and assets to determine a student’s “Expected Family Contribution” toward their college education for that year.

Colleges then use this Expected Family Contribution to decide what types of student financial aid each student is eligible to receive. Students must complete the FAFSA each year they wish to be considered for college financial aid.

State governments also typically provide some types of need and non-need-based student financial aid. These usually consist of grants, loans, work-study programs, tuition waivers and scholarships. Individual colleges and universities may provide federal student financial aid grants along with need and merit- based scholarships.

Students requiring college financial aid beyond what is offered by their college or university may consider private education student loans. These are available from most large lending institutions. Usually, student loan financial aid obtained through the federal government has lower interest rates than private education loans. Institutions may also offer their own student financial aid, in the form of need or merit-based aid, as well as endowed scholarships. Some schools may only require the FAFSA in these cases; some may also require an additional need-based analysis document, such as the CSS/Profile, to apply for these funds.

Repayment is usually pretty straight forward when it comes to student financial aid. Once you have graduated left school or dropped below half-time enrollment, your grace period begins. This is a period of six to nine months before which student loan financial aid must begin being repaid. The only exception to this is student loan financial aid that parents have applied for and been granted. These loans must be repaid as soon as the full amount of the loan is disbursed. If you received a grant or scholarship as student financial aid to attend your classes, you are in luck! You are not required to make any repayment on this college financial aid or federal student financial aid. Student loans are, for the most part, the only type of student financial aid that requires repayment. Keep in mind that all interest paid on student loans or student loan financial aid is usually tax deductible that could be a big help come tax time!

Getting ready to start college takes a lot of preparation on your part, this includes understanding the student loan borrowing process and how it works to help finance your education. First, you have to know that there are several different types of student loans that are available for you as a college student. All of them boast varying benefits, terms and conditions. You can start educating yourself on the various types of student loans out there by engaging in a little research. Depending on your individual financial situation, you should be able to find some loans that work for you.

Before you can even be considered or eligible for any type of college loan, you have to first fill out the Free Application for Federal Student Aid or FAFSA form. This form is essentially the first piece of information that is needed during the student loan borrowing process. If you go to your college’s financial aid office, they should be able to provide you with the FAFSA form and answer any questions you may have about filling it out. You can also obtain it online and submit all of your information through the Internet, which is a significantly quicker way to get through the process.

After you have submitted your FAFSA and it has been processed, you will then receive a SAR, or Student Aid Report. The purpose of this report is to show the amount of money you or your family is eligible for as well as the approximate amount of funds that will be contributed towards the cost of your tuition. Qualifying for grants or other types of private funding is generally determined by your school or university. Once you know what you are or are not eligible for, you can determine how much you will need to borrow from loan lenders.

Types of Student Loans You Can Consider

College loans can be broken down into four different groups. These include:

• Student loans (Stafford and Perkins) 1-800-4-fedaid
• Loans for parents (PLUS) 1-800-4-fedaid
• Private student loans
• Consolidation loans

If you are wondering which loan would work best for you, then you have to assess your individual situation in order to determine the right choice. The Stafford and Perkins loans are two popular student loans that most college students find easy to qualify for. Both these loans are available to undergraduate and graduate students who are attending college on a full or part-time basis. An added benefit to these loans is that you don’t have to have an established credit history (which most young students tend to lack) in order to be eligible. As a struggling student, you will probably also appreciate the low interest rates that the Perkins loan offers. The subsidized rates that the Stafford loan offers can also be beneficial for you.

If you are not able to obtain any grants or scholarships, do not get discouraged because a parent may still be able to apply for the Parent Loan for Undergraduate Students or PLUS loan. What this loan essentially does is allow a parent to borrow the funds necessary to finance their child’s college education. However, there are a couple important points to keep in mind with a PLUS loan. Repayment of the loans starts only 60 days after taking it out and the interest rates attached are not subsidized.

Another option you also have is the Sallie Mae student loan. If you are not familiar, Sallie Mae is a financial institution that oversees Federal student loans. Sallie Mae is known for offering students a combination of college loan options that can meet their needs all in one place. Student loan consolidation is also worth considering as it allows you to lump all of your loans into one single payment and also helps to eliminate higher interest rates.

Getting a college education is extremely important, however more often than not many people have to side step it due to financial constraints. Remember that the loans mentioned above are truly meant for aspiring students, who want to make something more of themselves by attending an institute of higher learning. As the saying goes, “a mind is a terrible thing to waste,” and you do not have to anymore!

After you graduate, leave school, or drop below half-time enrollment, you have six or nine months before you begin repaying your student loans. You will receive information about repayment and will be notified by your loan provider of the date loan repayment will begin.

If you default on your student loan, the maturity date of each promissory note is accelerated making payment in full immediately due, and you are no longer eligible for any type of deferment or forbearance. Continued failure to repay a loan in default may lead to several negative consequences for you over the long-term including having your wages garnished, your Federal income tax withheld, and losing your eligibility for other federal student financial aid like FHA or VA.

However, there are now more ways than ever before to repay your defaulted federal student financial aid loan and certain programs can even remove your loan from its defaulted status. Determining which repayment option that is right for you depends on what your objective is.

“I want to pay my defaulted federal student financial aid loan in monthly payments that are affordable to me.”

• All guarantee agencies and the U.S. Department of Education (Department) will accept regular monthly payments that are both reasonable to the agency and affordable to you. You should call them at 1-800-621-3115 and one of there customer service representatives will assist you with determining a repayment amount that is right for you.

“I want to reestablish my eligibility for additional federal student financial aid and go back to school.”

• Please see Going Back to School for more information on this topic.

“I’m applying for a HUD (FHA) or VA loan and I don’t qualify because of my defaulted student loan.”

• Your options for reinstating your eligibility to receive a HUD (FHA) or VA loan are: repay or satisfy the loan in full; consolidate your loan through the Federal Family Education Loan (FFEL) loan consolidation program or the William D. Ford Direct Loan Program (Direct Loan Program); or rehabilitate your loan through our loan rehabilitation program. Since defaulted student loans have no statute of limitations for enforceability, you would remain ineligible to receive a HUD or VA loan until you complete one of the options mentioned above.

“My credit record is tarnished because of my defaulted federal student financial aid loan. Is there anything that I can do to improve my credit record?”

Failure to repay your defaulted federal student financial aid loan can be damaging to your credit record. In fact, consumer-reporting agencies may continue to report an account for 7 years from the opening date. However, there are several things that you can do to at least partially, and in some cases, fully restore your credit record. Your options for bettering your credit report include: repay or satisfy the loan in full; consolidate your loan through the FFEL loan consolidation program or the William D. Ford Direct Loan Program; or rehabilitate your loan through our loan rehabilitation program.

If you want the negative credit report made by the Department removed, you must successfully complete our loan rehabilitation program.

“Can I pay my defaulted federal student financial aid loan held by the Department by credit card?

Absolutely. They accept American Express, Discover, Master Card and Visa as repayment options. To repay a loan by credit card, you can call them at 1-800-621-3115.

“What address do I send my payments to?”

If you have a defaulted federal student financial aid loan held by the U.S. Department of Education, you can mail a check or money order to the address below. If you are at all unsure about the status of your loan, or who currently holds your loan, please call them first at 1-800-621-3115 before sending in payment. You may also use Loan Locator to help you find out what lenders currently hold your loan(s).

National Payment Center
P.O. Box 4169
Greenville, TX 75403-4169

(Please be sure to include your Social Security Number on any payment instrument that you send us).

Flashback news: President Bush signed into law a student loan bill that will provide more than $20 billion in college student federal aid and is being likened to the G.I. Bill, which helped millions of World War II veterans attend college.

The law, which received overwhelming bipartisan support in Congress, will slash federal subsidies to private student loan companies and increase grants for students. It will gradually reduce interest rates on federally subsidized loans for low-income students to 3.4 percent over five years. The law will also offer loan forgiveness for those who have held public service jobs for 10 years and will cap payments on federal loans at a certain percentage of a college graduate’s income.

The new law, the College Cost Reduction and Access Act, overhauls the nation’s student loan system. Recent investigations have revealed how lenders have showered university officials with gifts to woo student borrowers and drive up profits. Congress reacted sharply to the disclosures, and the support to revamp the student loan industry was considered a rare bipartisan endeavor.

The House of Representatives approved the law 292 to 97; the Senate vote was 79 to 12. There were no democrats that voted against this bill, only republicans.

“This bill will help ensure that no qualified student is prevented from going to college because of the cost,” said Rep. George Miller (D-Calif.), the House education committee chairman said he is proud that Congress has “provided the greatest investment to help students and parents pay for college since the G.I. Bill and has delivered on our promise to make college more affordable and accessible for families.”

However, as Bush signed the bill, he suggested that it is not perfect. “This bill makes some spending commitments that aren’t paid for yet, and I look forward to working with the Congress to ensure Pell Grant increases that are not fully funded in this bill are paid for with offsets in other areas.”

Kevin Bruns, executive director of America’s Student Loan Providers, said the new law would take away 80 percent of the companies’ federal subsidies over the next five years, which could result in fewer loan benefits for students.

Bruns said that about 3.5 million middle-class student borrowers might face a new reality in which lenders can no longer offer them interest-rate reductions for timely payments. “This bill is wiping out the profit margin for even the largest lenders,” Bruns said. “How can you run a lender-based program if you’re not allowed to earn a reasonable profit margin?”

Student advocates dismissed those criticisms. Luke Swarthout, a higher education advocate with the U.S. Public Interest Research Group, said the backlash reflects complaints from one of the countries “more excessively subsidized industries.” Two of the student-friendly parts of the bill, he said, are the increase in annual federal Pell Grants, which will shoot up to $4,800 next year, and the income-based payment cap.

“The program will stop people from making unmanageable payments,” he said. “The concept is that no matter what job you take, your income is protected.”

Barry Toiv, spokesman for the Association of American Universities, said the increase in Pell Grants is a victory for students, because the new law guarantees that the grants will reach a value of $5,400 a year by 2012.

“The Pell Grant has not been close to keeping with the need out there with potential students,” Toiv said. He said he is unsure whether lending companies will be crippled by the measures. “We think this is an important step in the right direction. I think we will just have to see what the impact is. It’s hard for us to know.”

This is what is happening. It is hard to predict the outcome of all of this. Truly only time can tell. You read the facts and make your own decision. I encourage you to not let this stop you from seeking the right student loan for you. They are still out there.

Just like handling your classes, handling your budget is another part of the college life. When you begin college, you may want to establish a budget to help you manage your finances.

Your first step should include establishing what type of income you have. If you are working your way through college, you may have limited income once you pay for tuition or any kind of student financial aid loans. Perhaps your parents are helping you pay for college and supplying you with a monthly allowance. After making a list of your incoming money, tally it up and see what you have to work with.

After you find out how much you have coming in, you need to figure out how much is going out. Some traditional methods involve carrying a mini spiral notebook and logging in your expenses. If you use this method, you may want to make categories to help you stay organized. You will want to keep track of your expenses for about a month, which allows you to really see what you are buying. This will also give you a great idea on those expenses that really are not necessary.

After you have kept your log for about month, you can begin establishing a budget. Start by making a list of the things you have to spend money on, such as:

• Rent
• Utilities
• Books
• Student Financial Aid
• Food

The items shown above are usually set in stone. You probably will not be able to talk the electric company into giving you a better deal. However, other expenses are more flexible.

These expenses include eating out at restaurants, going to clubs and going to movie theatres. When you are establishing your budget, you will want to make sure that you will be able to pay for the necessities. If things are tight, you will have to make concessions on the other expenses. The movie is not a necessity nor is that Grande coffee from Star Bucks. Try a very handy budget calculator from ed.gov

After you have established what monies are coming in and what monies have to go out, you will have a budget. My belief is this is the easy part. It is very easy to have it on paper knowing were you money needs to go, but there are times when emergencies or unplanned expenses have to take presidents.

What do you do when this happens? First of all, be aware this can and probably will happen. You have to have an emergency plan. You can have a low balance student credit card that you only use for emergencies. Give it to a parent or a very trust worthy friend that can hang onto it until such emergency comes up.

Another option is to take a small amount of money out of each month’s income. Stick it away or, once again give it to a family member for safekeeping. You would be surprised at how fast the money piles up.

These above ideas are only suggestions. Please feel free to try them or put your own spin on it. What every works for you to make your situation work. Your are studying hard you do not need to worry about your finances as well. Make it easy for your self and plan ahead.

Studying at college can be an expensive business and you are likely to be considering taking out a Student Loan to help you meet all of the costs. Before you make a decision on which of the thousands of Student Loans that are available is right for you it is important to weigh out all your options.

It is important that you apply for all possible Government Financial Aid. Your school’s financial aid office can supply you with the forms and all deadlines for federal and state applications. The Free Application for Federal Student Aid (FAFSA form) is the only form you must file with the Federal Government.

A student loan is almost inevitable these days. Colleges and universities charge so much between room and board, but students also have to worry about books, supplies, food, gas, and even class or lab fees. College can cost upwards of $40,000 per student, and parents are not always able to help, even if they want to.

Filing for financial aid and applying for a student loan is simple, as long as you know how to begin your process. Believe it or not, obtaining money and a student loan for a college education is not as complicated as people think. The financial aid process is different for each student, but there are factors that apply to almost everyone who applies.

First, everyone should apply for financial aid and a student loan, even if they think they will not qualify. There are a number of factors involved in the eligibility process and there is always a possibility for a person to qualify, even if all they thought they would get is an approved student loan.

Next, the application for Federal Student Aid (FAFSA) is free. It determines an applicant’s eligibility for student aid programs and many private grant and scholarship programs.

A student loan comes in different programs. There are two categories available for a student loan. One is government loans and the other is private loans.

Basically, the government student loan, also known as a Stafford Loan, should be what an applicant applies for first. Parents can consider a government student loan. These are called PLUS Loans and they are especially for parents. From time to time, a private student loan can be competitive with a government student loan program. Check the internet carefully to explore your options.

A Federal Unsubsidized Loan is a student loan based on no-need. Every student who meets the eligibility requirements could meet the criteria for Federal Direct Unsubsidized Loans. There is no need for a co-signer to apply for Federal Direct Unsubsidized loans.

A Federal Subsidized Loan is a student loan made directly to the student. A person can apply for this financial aid by filling out and submitting a Free Application for Federal Student Aid (FAFSA form). Fundamental criteria must be met, which is determined by people of the federal government.

As you can see, a student loan is easily accessible. The internet and the government both make the process simple and streamlined for your convenience.

Congratulations all you college student graduates of 2007. Expect a mailbox full of missives to help you transition from the college campus to the real world: congratulatory cards (with checks enclosed) from family and friends, a few job offers and plenty of enticements from lenders eager to handle your student loans and turn them into the Best Student Loan.

Although the first two are certainly more welcome, it pays to spend time considering the latter. More than two-thirds of graduates leave college with student loan debt, according to the Department of Education. Their average tab: $19,200 and growing at a very fast pace.

In recent years, as the variable interest rates on the Stafford loan dipped to historic lows of 2.77% (3.37% in repayment) in 2004, student loan advice for recent graduates could be summed up in a single word “consolidate”. Not so, for this year’s graduates, who face current rates of 6.62% during the in school and grace periods, and 7.22% during repayment.

The use of consolidation to lock in a low rate no longer applies. Students have to be more proactive about getting the best student loan deal to begin with.

Thanks to two recent changes, the Class of 2007 faces the added burden of mixed loans — some fixed rate, some variable, some already consolidated. Loans disbursed after July 1, 2006, carry a fixed interest rate of 6.8%, while those disbursed prior have variable rates up to a maximum of 8.25%. That date also marked students’ last chance to consolidate loans while still in school.

To get started off right, here are seven considerations for this year’s graduates: Mind your grace period on the loans you do have. Some borrowers can expect to receive their first student-loan statement before their first real-world paycheck. There has been a huge wave of in-school consolidations over the past few years, as interest rates moved to record lows. But in doing so, students gave up their six-month grace period.”

Are you in this boat? Before you gloat, consider joining their ranks. Consolidating before your six-month grace period runs out snags you a lower consolidation interest rate; currently 6.625% instead of the 7.25% you would get post-grace. For a graduate carrying a $20,000 balance, that is a difference of $1,795 in interest, paid over the life of your loan.

When considering a consolidation do it cautiously. Our experts agree — with such high rates, there is less incentive to consolidate your loans this year. The reasons students will consolidate are more to do with stretching repayment and lowering monthly payments. It does not hurt that one payment to one lender is easier to keep track of than four to different lenders. What constitutes the best student loan for your financial situation? This is something you really have to think about.

With fixed-rate loans in the mix, consolidating may not work out to your advantage. Someone carrying $20,000 in Stafford loans — $15,000 consolidated at 6.625% and 1 $5,000, 6.8% loan — would pay a total of $7,458 over the life of the 10-year loans. That is $100 less than the total interest you would pay by consolidating all the loans under a 10-year repayment schedule.

Shopping for a student loan used to be as simple as picking a lender off your school’s “preferred lender list.”

Offered by almost all colleges and universities, preferred lender lists singled out on average four or five lenders that the school’s financial-aid office deemed would offer its students the best loan terms and customer service. Not surprisingly, the lenders in those lists typically received up to 90% of the loans taken out by that school’s students and their parents.

Earlier this year, an industry wide probe was started into just how these lists are put together. There findings are changing how students and their parents should shop for student loans. Turns out, lenders have been paying their way onto preferred lender lists for years. The financial-aid offices of many colleges and universities received kickbacks from lenders based on how much students borrowed, in addition to accepting free travel and gifts. Some financial-aid officers were even offered stock in lender companies.

Thanks to the ongoing scandal, colleges are scrambling to clean up their acts — and their lists. Nevertheless, if you are planning to take a loan for the upcoming academic year, reaching for your school’s preferred lender list — if still available — is not enough. You will have to shop around, study your options and ask many questions. Here is how to find the best loan for your needs.

Some universities have temporarily suspended preferred lender lists because of the investigation, but many continue with the practice. Do not automatically discard the lenders your school recommends, but think of them only as a starting point. Be sure to ask your school what benefits you “the student” will receive if you go with a preferred lender. Then ask what benefit they “the school” will receive as well.

Scrutinize the list: In the past, schools often listed several preferred lenders that were owned by the same company. One such college had a list of five companies, four of which were owned by one of the nation’s largest educational lenders, while the fifth sells the student loans it originates to that same lender. That is possibly a sign that the school had some sort of deal with that lender: a red flag to look into other lending options, which may turn out to be more attractive.

Be careful if your school tries to discourage you from using an outside lender — you are in no way obligated to stick to the list. Granted, there may be some delays inherent in using a lender that does not have a relationship with your school, but that should only add an extra day or two for processing. If the school starts talking about a delay of weeks and tries to discourage you from going with your lender of choice, then they are not complying with federal regulation. Take such cases to the Federal Student Aid Ombudsman, which helps resolve student loan disputes.

The thought of researching all student loan options out there can be daunting. Thousands of banks, credit unions and other institutions offer loans. However, it is the largest lenders that do the majority of the business: In 2006, the top 50 lenders represented 83% of loan originations and 96% of consolidations.

FinAid.org lists about 300 lenders along with contact information and links to the company web sites. You do not have to go through all these options, of course. Pick several lenders that you are already familiar with or that have been recommended by somebody you trust, perhaps other parents with children close in age to yours. Better to add just a few lenders to your school’s list and study their products well, rather than pick one lender out of 50 without reading the fine print.

While it is sometimes possible to get a private loan with a very low interest rate, your best bet is with federal student loans. The benefits of a low interest student loan is obvious. A lower interest rate means lower payments, a shortened repayment period and more money in your pocket.

Another added benefit of low interest student loans is the subsidized aspect of many federal student loans. If you get a Stafford Loan or Perkins Loan, you may very well have your interest paid by the government while you are in school and even up to nine months after you graduate. 

We have already established that the major type of low interest student loan is a federal loan. Because of this, we will concentrate on the types of federal loans that offer extremely low interest rates and other benefits to students struggling to finance their education.

A Stafford student loan is a form of low interest loan that allows students with little to no credit to afford college. This is so because, as a federal student loan, the Stafford loan has different requirements than a standard lender like a bank. Rather than basing your worthiness on a credit score, it is based on whether or not you fall within the eligible income bracket, if you are attending school at least half time and if you have never defaulted on a loan before. 

There is also a limit as to how high the interest rate on a Stafford loan can be. It is currently 8.2%, though most people get a rate that is lower than this. Another added benefit is that you can get a Stafford loan subsidized, meaning that the government will foot the bill for the interest that accrues while you are in school. Stafford loans are also available unsubsidized, though the low interest rate still applies.

A Federal Perkins Loan is another form of federal loan that provides many options for borrowers. However, in order to qualify for this loan you need to show exceptional need. In fact, most that qualify also qualify for the Federal Pell Grant—another form of financial aid that requires exceptional need to be eligible. If you do qualify for this type of low interest student loan, you will be pleased to know that it is subsidized as well. The Perkins Loan also has the largest grace period of all the loans, meaning you do not have to pay a dime back on your loan until nine months following graduation. 

The interest rate is also the lowest you will find anywhere—a low 5%! You will never get a rate like that at a bank or credit union. This is why federal loans are the true low interest loans. Nothing else can come close to their outstanding rates.

The path to financial aid starts with the FAFSA. If you want to secure a federal loan of some sort— or even more preferably, a grant— then you need to have, your FAFSA submitted by March 2 of the year you plan to begin attending school in the fall. Once your FAFSA is processed, you will receive a Student Aid Report or SAR, outlining how much money you are expected to contribute to your education financially. A few weeks after that, an award letter should arrive in the mail detailing what types of financial aid you have qualified for and how much money you can or will receive. You will need to return this award letter indicating what financial aid you are accepting. 

From then, you will need to follow the specific instructions for securing the type of low interest student loan you have been awarded. A Stafford loan requires you submit a promissory note, while a Perkins loan requires you to fill out paperwork and submit it directly to your school, as your college of choice will be the lender.

Regardless of the type of loan you end up getting, just always note the interest rate. Even though you may be new to the world of finances and credit, lenders expect you to make responsible and informed decisions. Always educate yourself about a potential loan, even if it does have an enticing low interest rate, before you sign on the dotted line.

 College Grants for Education Everyone loves free money, so why not find some to pay for college? There are numerous government and private organizations that fund grants for post-secondary students. These grants can be used to pay for tuition and other related expenses.
While it is uncommon to hear the term grant and scholarship used interchangeable, they are two different things. A grant is very similar to a scholarship. However, grants are typically awarded to students based a set of requirements. In most cases, a student can fill out a form and if he or she meets the specified requirements, grant funding is awarded accordingly. In general, grants are funded through state and federal programs. The funding comes from taxpayer dollars.
The United States Department of Education offers the popular Federal Pell Grant. This grant is based solely on a student’s demonstrated economic need. To apply for the grant fill out a Free Application For Federal Student Aid (FAFSA). If you qualify for the grant, the school of your choice will notify you. The amount of an awarded Pell grant varies based on need. The maximum amount a student can receive in 2008 is $4,600.
The government also offers merit-based grant money. Typically the state government offers this type of grant. The money is awarded based on the student’s grade point average, income level, and year in school.
Because each state operates its own grant programs through the state’s department of education, the application process tends to differ. Some programs can be applied for via the FAFSA, while others require a separate state application. Also keep in mind, not all state offer student grants. If you are unsure about the programs offered in your state, ask your high school counselor or a financial aid representative at your college.
Applying college grants is not difficult. Considering the funds are free money, the end result is worth the effort of filling out and submitting an application or two. Do keep in mind that most grants require the recipient to reapply each year. Additionally, just because a student is awarded a grant one year, doesn’t mean he or she will automatically qualify the following year. Learn more about college finances at www.student-loans.org