Getting Student Loans While in CollegeLet’s face it, we weren’t all born with a silver spoon in our mouths, and we have to make ends meet any way we can. When it comes to getting a good career, you must go to college to get an education in your chosen field. For those of us who are of modest means, that can be a little easier said than done, especially if you are not heading off to a community college. One way to afford college is to do the same thing that millions of other students do, and that is to apply for student loans. If it weren’t for the loan programs which are available, many people would find that they could not afford to go to college. Usually, it is not hard to qualify for a student loan. Your biggest hurdle in getting a loan is the fact many others will also be applying, so you must be prepared to do a lot of waiting in line. You will find that the financial aid office is the hot spot of the college for the first couple of weeks leading up to classes starting, and about two weeks after. If at all possible, you should get into the financial aid office and speak to an aid counselor as soon as they begin accepting applications for financial aid. How do you know when they start accepting the applications? Try giving them a call, or better yet step into the financial aid office and ask. They may let you apply then, and you will have gotten in front of the crowd. You may also have the dates posted in the school commons area. When you apply, don’t forget to inquire about any grants which may also be available to you, such as the Pell Grant. If you have exceptional financial needs, you may also qualify for the Federal Supplemental Educational Opportunity Grant (FSEOG). Both of these do not have to be repaid if you qualify for them. Student loans do have to be repaid. Fortunately, the payment schedule does not start until six months after graduation, in most cases. This gives the new grad plenty of time to find suitable employment and begin getting a steady paycheck. If you still have not found employment by then, you can request to have your loans put in to forbearance. This will give you six more months to begin repaying the loans. It will also stop the interest from accruing on the loans until the repayment schedule begins. Financial assistance for those who wish to further their education is available, all you have to do is speak with a financial aid counselor and they will sort out your options for you. |
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