| With the ever rising education expenses, it is not | | | | loans are the Stafford Loans and the lesser known |
| surprise that many are wondering how the others | | | | Perkins loans. Besides, when you apply, in most |
| manage to fund their undergrad education. This is | | | | universities you are automatically considered for the |
| typical of people who are either planning to go for | | | | host of grants, scholarships and loan alternatives that |
| education themselves, or sending their children for | | | | they have. Besides, you can always explore the |
| the same. If money is deterring you for taking that | | | | option of work-study programs to give you |
| step, then the good news is that you have many | | | | supplementary income while you are studying. |
| options to tap into. You can look at both federal | | | | What About Private Loans? |
| loans as well as credits from private institutions. | | | | One aspect that many people don't give importance |
| Calculations First | | | | to is the private loans. The main reason being that it |
| Before you begin, you must estimate what would be | | | | is more difficult to get these loans with credit checks |
| your approximate education expense. This is not just | | | | and all. If you have a good credit rating, you get |
| your college fees but also your boarding, lodging and | | | | greater flexibility in loan options and repayment terms |
| other entertainment expenses. Many universities and | | | | with these loans. Repayment is a major factor in the |
| colleges have dedicated departments for financial aid | | | | private loans. While applying for these loans make |
| and they can give you data on these aspects. A | | | | sure that you do not commit to a repayment |
| good thumb rule is to have your financial planning | | | | schedule that is very difficult to stick to. If that's the |
| completed well before the program starts at the | | | | deal you are being offered, it is better to look for |
| school. A 6 month advance planning will save you a | | | | other options rather than trying to speed up the |
| lot of headache and stress later. Planning doesn't | | | | process by agreeing to it. |
| mean you have the finances sorted out but you | | | | Need More Info? Run to Financial Aid Department |
| have a plan ready to pursue in the next few months. | | | | So in all, you know that as an undergrad student you |
| In a Hurry? Go Federal Loans | | | | have multiple choices to fund you education. The |
| Speed is of essence with federal loans. Given the | | | | financial aid department of your college is the best |
| huge number of applications that these loans receive | | | | avenue to get information all these options. Also |
| delay is inevitable and you don't want to enter last in | | | | remember that you do have the private loan |
| the queue. If you are looking to pursue your under- | | | | alternative, just that you must look at all other |
| graduation, apply for the federal loans immediately. | | | | choices before looking at them. |
| Some of the most sought after federally funded | | | | |