| Going to college or university is a first | | | | requirements for state loan. |
| step towards a brilliant career. It is also | | | | |
| the time when you encounter the first major | | | | Private loans (given by banks) may be the |
| financial issue in your life. The purpose of | | | | solution for those who can't qualify for any |
| this article is to provide you with six | | | | form of government aid. The drawbacks being |
| useful tips on getting your college bills | | | | interest rates are higher than that of |
| paid. | | | | federal loans, and banks typically don't |
| | | | offer grace period. |
| 1. Scholarship or fellowship | | | | |
| | | | Student loan consolidation is very useful in |
| Scholarships and fellowships are, probably, | | | | case if you need to repay several loans |
| the most desired forms of payment assistance | | | | simultaneously. Your several loans are |
| for students all over the world. This type of | | | | replaced with one loan and a longer repayment |
| assistance is not required to be repaid, | | | | period, which makes monthly payments much |
| which is a huge advantage over other means of | | | | more affordable. |
| funding (such as loans). | | | | |
| | | | Consolidation is available for federal loans, |
| Certain scholarships may only be available | | | | but there are some lenders who provide |
| for applicants with special scientific, | | | | private loan consolidation as well. |
| artistic, or athletic talents or serious | | | | |
| financial needs (applicants from politically | | | | 4. Get a job in college |
| instable regions). Your school counselor may | | | | |
| be able to provide you with advice about | | | | Many colleges and universities offer |
| finding a scholarship and applying for it. | | | | work-and-study programs. Basically, it means |
| Also, there are numerous online databases of | | | | that you get your studies paid by part-time |
| scholarship offers available for public | | | | work for the benefit of the college. It may |
| browsing. | | | | be a job on campus, or a position as a |
| | | | laboratory assistant. |
| 2. Grant | | | | |
| | | | 5. Community service program |
| A grant is a form of financial aid that may | | | | |
| seem similar to scholarship, but it surely | | | | There are non-profit organizations that offer |
| isn't. While a scholarship is awarded for | | | | money awards to volunteers. For example, by |
| your current achievements, getting a grant | | | | working for AmeriCorps for about a year you |
| involves a distinct proposal of a future | | | | become eligible for educational award. |
| project (thesis, dissertation, or any form of | | | | Community service typically involves working |
| research). | | | | in public security, public health, education |
| | | | and environmental protection. |
| A grant may be given to you after a potential | | | | |
| sponsor (government, school, or any third | | | | 6. Join the army |
| party) has reviewed your proposal. Therefore, | | | | |
| to get a grant you definitely have to "make | | | | Military forces can also provide educational |
| an offer they can't refuse". | | | | funding. In exchange, you will be required to |
| | | | serve military duty in one of the following |
| 3. Loan | | | | ways: going to college first, then the army; |
| | | | attending the army first, then college; or |
| Educational loans are less difficult to get | | | | serving in military reserve by simultaneous |
| than scholarships and grants, but their main | | | | studies and part-time military training. |
| drawback is obvious - they have to be paid | | | | |
| back. First, you should try applying for | | | | Alternatively, you may compete for |
| federal loan. Stafford federal loans have low | | | | Congressional appointment to a military |
| fixed interest rates and may be subsidized, | | | | academy (West Point, Marines academy in |
| meaning that you won't have to worry about | | | | Annapolis, and others). If you succeed, |
| paying interest rate. | | | | federal government will pay for your studies. |
| | | | |
| Perkins federal loans are awarded to those | | | | You don't have to be rich to afford college. |
| with exceptional financial need; they also | | | | Consider the various funding options |
| have low interest rates and their grace | | | | carefully and you are a step closer to |
| period is longer. You may also apply for a | | | | achieving your education dreams. |
| loan from your state government - consult you | | | | |
| local authorities about eligibility | | | | Are you planning to go to college? |