| Entering college proves to be a tough situation. Aside | | | | other hand, unsubsidized loans can be claimed by |
| from thinking about passing entrance exams and | | | | qualified students regardless of their families income. |
| interviews, there is the problem about money. Money | | | | This is usually chosen when the subsidized loan is |
| is the most common concern faced by parents | | | | limited. |
| whose child is about to enter college. This is why | | | | The Federal Perkins loans has a lower interest of 5%. |
| student loans are provided either by private | | | | This is granted to undergraduate and graduate |
| companies or by the U.S. Government. | | | | studens who are in dire need of financial assistance. |
| A lot of parents and students are taking advantage | | | | There are several criteria that must be met for this |
| of this because education is one of the important | | | | loan to be granted to a student. Income or credit |
| factors to get hired for a job. There are three widely | | | | checks may be conducted as part of evaluation. |
| used student loans which are Federal Stafford Loans, | | | | And finally, the Federal PLUS loans are granted to |
| Federal Perkins Loans and lastly Federal PLUS Loans. | | | | parents who have a child who is about to attend |
| But there are also other loans that you can choose | | | | college. The parents can now pay for their child's |
| from if you opt not to use this ones. | | | | college expenses in full. Though, the financial standing |
| The Federal Stafford loans has two kinds which are | | | | of the parents are not required, a credit check is still |
| subsidized and unsubsidized loans. The subsidized loan | | | | conducted. |
| is granted for those who really need it. You are not | | | | With these kinds of programs, anyone is now able to |
| required to pay for the interest while you are still in | | | | go to college without having to think of the money |
| school or in half-time. You are also given six months | | | | to pay for college. Students and parents should know |
| of grace period after graduation before you are | | | | this kinds of programs to help them financially for |
| asked to pay back the loan. This gives you an ample | | | | better education. |
| time to save money to pay for the loan. On the | | | | |