One of the toughest parts of getting a college education is figuring out how to pay for it. Before you go out and get a student loan, here are few other things you need to know.
- Can you get free money for college through the FAFSA? – First, you need to fill out the Free Application for Federal Student Aid. You should receive a financial aid award letter from the financial aid department at your chosen college. This will help you to know how much of the bill is on you.
- Do you qualify for any scholarships? – FAFSA isn’t the only way to get free money for college. You also need to search and apply for scholarships that you qualify for. You don’t want to over-borrow because you didn’t apply for the scholarships early enough.
- What types of loans are available to you? – State and federal loans are always going to have better interest rates than private loans from a bank or other financial institution. Government loans are also going to provide you with the best options if you run into trouble paying the loan off later. Private lenders may impose heavy penalties if you fall behind.
Planning to Help You Pay for College
College Planning Source can help you to make good decisions about financing your education. It all starts with an assessment. Please call 858.676.0700 to learn more, or you can request your assessment via our website. At this time, all assessments are taking place over Zoom for your safety and ours.
