Archive for June, 2012

Student Loans for College

June 22nd, 2012

Student Loans For College

Students who want to attend a college program should always consider the cost

of a program before attending college. Contrary to what an academic

advisor may tell a student, a student should consider what he or she

will use a degree for upon graduation. That person should consider

whether a degree program will give him or her a marketable skill in

the business world or other world. Here are a few of the important considerations:

Cost of Tuition

A student may need to make a college choice based on the tuition for

the school. If the tuition for a state school is $10,000 while the

tuition for a private school is $40,000 to $50,000 a year, then the

student on a budget may need to choose to attend the state school. A

student on a budget may want to choose to attend a state school for

the financial freedom it will ultimately provide the student upon

graduation. A student may be stuck paying back $200,000 in loans

after graduation from a private school with high tuition


Filling out the FAFSA

If students are wondering how to pay for college, they should definitely

fill out the FAFSA in order to apply for loans from the

government. The FAFSA stands for “Free Application for Student

Aid.” The FAFSA is the official way to apply for student loans.

College students can qualify for loans from the government without

having to depend on the credit history of their parents. Some

students are worried that the credit history of their parents will

impact their ability to take out loans. These students do not have to

worry because the government now allows them to apply for loans as


Private Loans

For students who need to take out additional loans during college, a

private loan may be the only option that he or she has. A student

should check with a college to see whether the college offers small

loans for students who need to purchase a computer, textbooks or

other supplies. Some colleges will allow students to take out

additional disbursements from the institution. For colleges that do

not give these additional disbursements, students should seek private

loans from reputable banks. Students should try to get the lowest

interest rates possible for these private loans.

Taking out student loans may be the only way that a student is able to attend

college. Student loans can open up many doors for students who need

additional opportunities for success in life.

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