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