Student Loans Secrets
Before you know it, your children grow up and your wife decides to get her masters degree and you find yourself researching for college student loans. Secrets I'd like to share with you, come from personal experience and will allow you to save time, expense, spot student loan scams and headaches. Following is how we found our college student loans and the steps we had to take. Please let us know if it helped you or not.
For us it all started one evening at our local high school. A guidance counselor from a nearby university held a seminar on how to get: grants, financial aid, scholarships, college student loans secrets, etc. It was this 2 hour window of opportunity that opened our eyes to the world of financing college and how to find the best student loan for our situation.
Your New Best Student Loan Friend
You will become extremely familiar with FAFSA. It basically stands for: Free Application for Federal Student Aid. Before you can even apply for college student loans we had to submit a bunch of information (make sure you have your tax refund from last year with you) on their website. Fortunately for us, my wife filled out as much as possible and then visited the counselor who took her information and went online and did much of the work on submitting the student loans for her. It didn't take him long and then we had to wait.
Listen, January 1st of each year is extremely important for everyone who wants to apply to FAFSA. This is the date they start accepting college student loans applications and it is a first come first served basis. The longer you wait to apply the longer it takes for you to get your answers.
The government will send you a SAR (student aid report) and it will summarize the EFC (expected family contribution). Basically the EFC is about how much your family can realistically or un-realistically afford to spend on their child's education costs. Based on these figures that is how much you can borrow from the government.
How long will it take?
We had our answers back within a month, but we had friends who applied through FAFSA later than we did and it took them nearly 2 months to find out if they were eligible for student loans.
College Student Loans Secrets
Use These Student Loans Secrets When You Go Shopping for Loans
Make an appointment early in the year with your local junior college, high school or university. Alongside your child, these counselor's are more than willing to help you every step of the way. If you get lucky, they will fill out all the forms online while you are sitting in their office. Make sure and ask them exactly what you need to bring to your meeting so you can possibly get it all completed in that one visit.
Good luck and we hope your experience in finding college students loans is positive. We hope these student loans secrets have helped you and if you are ready let's explore more information on the various types of student loans.
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