While both options lend you money to help cover college costs, there are some significant differences between federal and private loans you need to know.
In addition to paying for classes (aka tuition), you'll also need to cover any fees associated with a university. But what exactly do these "fees" cover?
How often do you think about paying for college? The answer is likely all the time. That's why learning about ways to fund your education is so important.
Of course you can! It's never too early (or too late) for students to start searching for and applying to scholarships. The important part is making sure you qualify before you apply.
Set aside a designated time each week to search out and apply for scholarships. Don't limit yourself to just online scholarship websites. Contact local and national businesses, corporations, and organizations directly to inquire about any they may offer.
First and foremost, it is important that you and your parents have an open discussion about the general realities of how much your family can pay for college.
Applying for college financial aid can be complicated, but here's a suggestion that is so simple you might actually overlook it. If you and your family need help completing the forms, ask for it.
Going to college is expensive, no matter where you go. While you are in high school, look at all the possibilities for financial aid, and begin your search early. There are countless ways to do this, but your guidance office is a good starting point.
Although the cost of attending your school is important, cheaper is not always the best way to go. Make sure you are making an apples-to-apples comparison with financial aid by looking at the total cost of attending a school.
Apply for the FAFSA ASAP after October 1. There are sometimes limited grants or loans that run out, so it is true that the early bird gets the worm.
Some students don't apply because they think their parents make too much money, but it's impossible to say what income is too high. We had a student whose family made well over $80,000 a year, and the student qualified for everything.