Category: Financial Aid

First things first–let’s get the answer to the question out of the way.  A student may only borrow up to the cost of attendance determined by the school minus financial aid including other student loans.  The amount a student is eligible to borrow is the remainder of that equation and it can only be determined one academic year at a time.

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It might seem convenient or even cost-effective due to current low interest rates to finance an entire education up front.  However, the student would still be accruing or paying interest on the full amount borrowed while in school.

As you can imagine, the interest charges on $40,000 are much higher than on $10,000.  Let’s take a quick look at how eligibility is determined to see how the borrowing process works.

How Much Can You Borrow?

Borrowing a student loan for multiple years is not possible because eligibility can’t be calculated in advance.  Things like the school’s cost of attendance will change from year to year as will the financial aid your student is offered.

Plus, the amount a student may borrow under the Direct Student Loan program increases from $5,500 for freshmen, to $6,500 for sophomores, to $7,500 for juniors and seniors.

The school will not only determine your student’s cost of attendance each year, but they will also certify the amount the student is eligible to borrow when the lender of the private student loan requests it.  The lender is required to ask the school for this certification for each academic year (or partial year) in which financing is requested.

It is the school’s job to ensure the student does not borrow more than eligibility allows.

Even if a student could take out one private student loan for all 4 years of college, it wouldn’t make financial sense to borrow more funds than would actually be utilized.  If a borrower defers all payments, interest will still be added to the original amount borrowed.

Even if a student makes interest-only payments while enrolled, the he would still be paying interest on the full amount borrowed.

Student loans do not work like a line of credit that you draw down as needed or like a credit card where you are only charged interest on the part of your credit limit that you access.  Assuming a loan with a 6% interest rate, the monthly payment of interest only on $40,000 would be $200 versus $50 on a $10,000 loan.

Another thing to consider is whether the student will make it all the way to graduation.  According to NCES, only 64% of first-time, full-time undergraduates seeking a bachelor’s degree at a 4-year degree granting institution in the fall of 2014 had graduated by 2020.

One final note, it’s very important for students to borrow only what they really need for any given academic year.  The school’s cost of attendance for each year includes not only the actual costs a student will be billed, but estimates of other expenses like books and room and board.

Take a careful look at both eligibility (how much you can borrow) and actual needs before borrowing a private student loan.

Be certain to pursue all other options for paying for college before borrowing at all.  Regularly searching and applying for scholarships, saving money earned at work, and buying used books whenever possible are all good places to start.

We get this question a lot about “Do student loans hurt your credit”. It’s nice to know that some borrowers and cosigners are concerned about the impact applying to multiple student loans may have on their credit. After all, our good credit allows us to finance important big ticket items like cars and homes and receive better rates on things like car insurance and credit cards.

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And, as anyone who has reviewed their credit score after applying for a loan can tell you, your score does decrease somewhat based on how recent the inquiry is. Whether it’s an auto loan or a student loan, credit scores are affected by inquiries. Fair Isaac, the company behind the FICO score, has a pretty good explanation about how borrowers should approach the problem and we’ll show you if student loans do hurt your credit.

Multiple Credit Inquiries for Student Loans

According to Fair Isaac, multiple inquiries for student loans over a period of no more than 45 days will have the same impact as a single inquiry.  Your credit score may or may not be impacted by a single credit inquiry and depends mainly on your characteristics of your credit profile. 

When calculating your score, the important distinction is whether you are “rate shopping” or opening multiple new lines of credit.

The way in which they determine this important difference is to look at the time frame in which the inquiries occur. If they are spread over a longer period of time, it may appear that the purpose of the inquiries is to open multiple accounts. If the inquiries occur over a relatively short period of time, it will look more like shopping for the best rate.

When comparing your private student loan options on our site, you may be tempted to go with the lender that offers the lowest “as low as” rate. If you and your cosigner have excellent credit, that may be good enough. However, if you are unsure, you should apply for multiple student loans to compare the final rates and terms offered by the lenders from which you receive approvals.

To ensure the impact on credit scores is kept to a minimum, Fair Isaac recommends doing your rate shopping over a concentrated period of time. While they recommend doing this over no more than a 45 day period, it would be better to be on the safe side and complete your applications as closely together as you can.

Since most undergraduate and many graduate student borrowers will need a cosigner in order to be approved for a private student loan, it will be important to coordinate closely with the cosigner to ensure both the borrower and cosigner complete their portions of the student loan application in a timely manner.

Shopping for the best rates is what we’re all about here at Education Connection. Compare your student loan options and select one or more loan programs. When you are ready, coordinate with your cosigner during the application process and rest easy knowing your credit score won’t take a hit that’s out of proportion to a normal credit inquiry.

Debt in America is not a new thing. In many ways, it has grown almost all years, meaning that consumers have more debt now than they did just a few years ago. Understanding the average debt in America may help provide some insight into the ways you may be able to work to reduce what you owe, providing the potential for financial freedom.

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What Is the Average Debt in America Per Household?

The average amount of debt per household in the U.S. was $104,215 in 2023, according to a report conducted by Experian. That includes mortgages and vehicle loans. It is an increase of 3.4% over the previous year. The average debt also includes any loans and credit cards a person has. This often lumps student loans into the mix as well.

Another way to consider how much debt Americans have is to consider the amount of overall debt owed by all Americans. According to the Federal Reserve Bank of New York, in 2023, household debt across the county rose to $17.7 trillion. This includes mortgage debt as well as non housing balances. Of that, about $17.5 trillion in household debt, such as mortgage debt.

Overall, reports indicate that 340 million Americans have some type of debt, including mortgage and car loans. The Urban Institute notes that 64 million Americans have at least some credit card debt.

Why is Debt on the Rise in the U.S.?

There are many potential reasons why debt continues to increase. According to the Federal Reserve, a large amount of the debt consumers have is due to an increase in mortgage balances, thanks to the purchase of homes that cost more now than they did just a few years ago. However, it may also be due to the increase in inflation, which has reached a 40 year high in 2022, which means that many consumers are spending a lot more than they did before to maintain the same standards of living.

How Much Student Loan Debt Do Americans Have?

According to a report from Experian, the average consumer student loan was $38,787 in 2023. That decreased by -0.6% in 2020 from $38,792. According to White House data, the average student who leaves college with an undergraduate degree program has almost $25,000 in debt.

One of the reasons student loan debt did not increase as rapidly from 2020 to 2021 as it did in prior years is that the U.S. Federal Government put a pause on federal student loan repayment and interest rates. That, along with the hold on collections activity on those student loans, created a bit of a break for consumers on increasing student loan debt. However, for those individuals that did not pay down their debt during that break, it continues to be a component of their ongoing overall debt.

Why Is Student Loan Debt So High in the U.S.?

The cost of higher education continues to rise. According to White House information, the cost of both a four year private and a four year public school has tripled from 1980 through 2022. While many students may have benefited from Pell Grants, which used to cover as much as 80% of those costs, that type of financial aid only covers about a third of the cost of higher education now. Financial aid may be available to those who qualify. That means more students are paying out of pocket or through third party loans to cover their overall costs.

Will Student Loan Debt Forgiveness Help with Debt?

The Student Debt Relief Plan provides loan forgiveness for qualified borrowers of up to $20,000. The program may help some families to see relief from debt up to the amount of debt forgiven. The amount may differ for each student.

How Many People Have Student Loans?

The White House notes that there are more than 45 million student loan borrowers in the U.S. That may account for both those who just left school and those who have been out of school for a long time. The reports also indicate that, of those who have student loans, about 16% of them are in default. That includes about a third of all senior citizens who still have student loan debt that they have not repaid.

Consider a few key figures:

• 45 million people have student loans in the U.S.
• About 16% of all student loan borrowers are in default
• About 1/3 of all senior citizens still carry student loan debt
• The typical Black borrower still owes 95% of their student loans 25 years after they graduate
• About 66% of people who have a Pell Grant come from a family that earned under $30,000 per year.

What Type of Debt Do Americans Owe?

There is a wide range of debt types that Americans owe. They commonly include mortgage loans, credit card debt, student loans, and vehicle debts. That is a combination of secured and unsecured debt that’s impacting monthly budgets for many of today’s consumers.

Take a look at how much debt the average consumer had in 2023, according to the Experian data:

• Mortgage Debt: $244,498
• Home equity loans or lines of credit: $42,139
• Student loans: $38,787
• Vehicle loans and leases: $23,792
• Credit card debt: $6,501
• Personal loans: $19,402

Americans owe a wide range of debt types, and having various forms of debt is not in itself a bad thing. However, those with mounting debt could struggle to continue to make payments.

How Much Debt do People Have Compared to Income?

Using just a dollar amount to represent the amount of debt a household has does not necessarily mean it is unaffordable. Those with a higher debt to income ratio, though, may have more of a struggle to combat. According to data from the Federal Reserve Bank of New York, In 2021, the overall debt to annual income ratio was 145%, which means that consumers had 145% more debt than they had income.

What Is Considered a Normal Level of Debt for Households?

The optimal situation is that consumers do not carry debt but instead pay off what they borrow each month. However, that is not always the case. There is no specific feature considered normal debt levels. However, the Federal Housing Association recommends having debt, including mortgage payments, under 43% of total income.

As noted by the Consumer Financial Protection Bureau, lenders set their own expectations for debt to income ratios. Some may have a significantly higher threshold than others. In general, the lower this figure is, the more funds a consumer has to manage their monthly expenses.

Average Debt by Income Percentile

There are many ways to consider how much debt Americans have. One way to consider this is to look at how much debt families have compared to their income. The Survey of Consumer Finances provides some insight into this. It looks at the amount of debt based on the net worth percentile. It found that the amount of debt a person has increases based on their net worth.

Here is a look at how much debt people have based on their income:

• Those who have less than 25% of their net worth in debt, the average debt was $66,940.
• For those who have between 25% and 49.9% of their net worth in debt, the average debt was $89,070.
• For those who have between 50% and 74.9% of their net worth in debt, their average debt was $132,520.
• For those who have been 75% and 89.9% of their net worth in debt, the average debt was $412,650.

Which States Have the Lowest Debt and the Highest Debt?

There are some states with lower household debt than others. Debt amounts range widely throughout the U.S. The states with the least amount of debt include:

• Mississippi
• West Virginia
• Kentucky
• Arkansas
• Ohio

Some students have a higher amount of debt than others. The states with the highest amount of debt include:

• District of Columbia
• Colorado
• Hawaii
• California
• Washington

Are There Americans That Live Debt Free?

Without a doubt, there are many people throughout the U.S. that do not carry debt. That means they do not have credit card debt or even a mortgage. The number of people who do not have debt changes each year. However, the Experian study indicated that under 25% of all American homes are living without debt. That does not include people who only have a mortgage and no other debt.

What to Do If You Need Help with Debt

Many people who have debt struggle to make payments each month on what they owe. This is financially taxing and may be hard to overcome. There may be some resources to help you.

Student loan forgiveness

If you have student loan debt, learn more about the numerous student loan forgiveness programs that are available. You may do that at the Department of Education website. It may be possible to earn debt forgiveness, discharge, or cancellation of your debts.

Student loan defaults

If you have debt that is in default from student loans, The Federal Student Aid department at the U.S. Department of Education offers insight into what your legal options may be.

Student loan forbearance

It may also be beneficial to consider student loan forbearance. This may allow you to stop making payments for a short period of time. You may learn more about forbearance at the Department of Education website as well.

Other debt help

More information on repaying your debt is available at USA.gov. You may also find a wide range of debt supportive tools and education at the Consumer Financial Protection Bureau.

With a competitive job market, many people are wondering whether it is the perfect time to attend college. These students are unsure about present and future job prospects along with rising student debt. Also, you may not presently have a job. So you are unsure if you may be eligible for student loans without a job? Learn more about how to receive a student loan without a job.

Can You Get Student Loans Without a Job?

Getting a student loan without a job may be possible when you have a cosigner. A cosigner is someone who may be willing to make your payments. Private lenders will accept this payment arrangement. They are willing take on the financial risk when two people make payments. The recent COVID 19 pandemic has forced many businesses to close and furlough staff. This situation has forced students to worry about paying off their student loan debt. It may also force some students to postpone their college courses until the economy improves.

The U. S. Bureau of Labor Statistics conducted an student unemployment study in January 2020. Unemployed high school graduates made up 3.8 percent of the study. College graduates had a 2.9 unemployment rate during the same month. With these worries, students wonder how they may pay for their college expenses. Student loans without a job could fill in the gaps or pay the entire costs. Students may seek a loan from a private lender. You may also be eligible for federal aid if you qualify. Private loan lenders may offer student loans even if you’re unemployed or if you have bad credit history. Financial aid may be available to those who qualify.

How Do I Qualify for Student Loans Without a Job?

One way to qualify is to have a cosigner. Private lenders take into consideration a person’s employment history and credit history. This information allows lenders to figure out the amount of the loan. A cosigner is anyone who meets the eligibility criteria for the student loans without a job. The cosigner may be your parents, grandparents, or another family member. It may also be a spouse or family friend. The cosigner typically have to meet the following criteria:

• Good credit score of 600 or higher
• Steady income (8% to 10% of discretionary income to make monthly loan payments)
• Favorable 15% or less debt to income ratio

Income minimum limits and debt to income ratios may vary between lenders. You may need a cosigner if you don’t have a job. Ensure that the cosigner is someone that you trust.

Can You Get Federal Student Loans and Private Student Loans Without a Job?

Both private and federal aid lenders may provide student loans to unemployed students. You should double check if you meet the eligibility requirements of each lender. 

What Federal Student Loans May You Receive Without a Job?

U.S. Department of Education will not review your credit report. The organization will also not check income history. They provide Stafford loans based on financial need. You also typically don’t need a cosigner. The only exception to this rule is if you plan to take out a Direct Plus loan with poor or no credit history. In these instances, you may need to have an endorser, which is similar to a cosigner.

Types of federal student loans that you may be eligible for if you don’t have a job include:

• Direct Subsidized Loans: A federal student loan for undergraduate students. You may have to show financial need. The federal government will pay the fixed interest rate for the life of the loan.
• Direct Unsubsidized Loans: A federal student loan for undergraduate and graduate students. You do not need to prove financial need. This federal student loan usually has fixed interest rates for the life of the loan.

Federal student loans typically have lower interest rates. This option also provides more variable payment options than private loans. You need to fill out a free application for federal student aid (FAFSA). Then you may send it to the eligible financial institution. The eligible financial institution may determine the amount of the federal loans.

What Private Student Loans Are Offered to Unemployed Students?

Private student loans may be available for unemployed students. You may need to have a cosigner to receive the loan. Citizens Bank and Sallie Mae may provide student loans. You may also seek out financial loans from a credit union. Private lenders may check your credit history and employment history for loan eligibility.

Other private lenders may check your future income potential instead of doing a credit check. This factor occurs when you don’t have a credit history or a co signor. Lenders understand that you may find employment after college. In this instance, you may be able to obtain one and submit a loan application.

How Do I Repay Student Loans Without a Job?

You may have to repay the personal loan using the funds from a savings account. The cosigner may also make monthly payments for you during your unemployment. Then you can take over the remaining loan amount or repay the cosigner. You could ask for forbearance or deferment for federal student loans. Forbearance may suspend your federal loan payments. The interest will still accrue on the loan as you will need to pay it later. Deferred federal loans will not accrue interest.

You may also qualify for loan forgiveness programs or an income driven repayment plan for federal loans. There might be less private student loan repayment options for unemployed students. Some student loan lenders may offer unemployment protection or economic hardship forbearance. You may check with specific loan servicers and student loan options. They may inform you about the length of their repayment term’s grace period. Also, don’t forget to check the repayment terms in the loan agreement which has the contracted interest rate. 

• Loan Forgiveness Programs: Loan forgiveness programs may forgive the remaining loan amount. You may have to make a certain number of previous payments to qualify. Private loan providers typically do not offer loan forgiveness programs. Federal loan forgiveness programs include the Public Service Loan Forgiveness Program.
• Income driven Repayment Plan: An affordable payment program based on your income and family size. The PAYE plan applies to federal loans. Sallie Mae offers a $25 payment option while you’re in school and during the grace period.
• Unemployment Protection/Economic Hardship Forbearance Programs: Some private lenders may offer deferment or forbearance programs. They’re available if you may experience unemployment or economic hardships. The Citizen’s Bank Student Loan offers deferment options. They may defer interest and payments for 6 months after graduation.

What Other Options May Help Pay for College?

You may try to pursue other financial aid options. Grants and scholarships typically do not need you to pay back the funds if you graduate. Yet, certain grants, such as a Pell Grant, may need repayment if you drop out of college. Other options may include:

• Waiting to go to college until after finding a job
• Placing the extra money into a savings bank account until you have enough for college
• Obtaining a part time job, either online or at a brick and mortar establishment

The pandemic has caused increased economic uncertainty on a global scale. Many students are reconsidering their career options right now. You may select the loan options that best fit your current job goals. Then you could receive the desired degree at a great college.

Reporting Assets on the FAFSA

The FAFSA requires you complete sections regarding your family’s assets and net worth of investments. Many families are confused about what they should and should not include when responding to these questions. Here’s a simple breakdown of what you should and should not include.

What are Student Assets on FAFSA? What are Parent Assets on FAFSA?

Cash, Savings & Checking Account Balances

When asked to list your (and your spouse if applicable) and your parents’ (if applicable) current cash, savings, and checking account balances…DO respond with the combined amounts as of the date you are filing the FAFSA.  These cover parents assets on FAFSA. 

They ask you to report cash because some families actually keep sizable amounts of cash in safe deposit boxes or otherwise outside of banks.

Net Worth of Investments – Considered Assets

This is where the FAFSA gets tricky and sometimes confusing. DO include the following investments:

• Real estate other than the home you live in
• UGMA and UTMA accounts
• Money market funds
• Mutual funds
• Certificates of deposit (CD’s)
• Stocks
• Stock options
• Bonds
• Other securities
• Installment and land sale contracts including mortgages held
• Commodities investments (gold, silver, etc)
• Qualified educational benefits or education savings accounts such as Coverdell savings accounts, 529 college savings plans, the refund value of 529 prepaid tuition plans

DON’T include these investments as assets on the FAFSA:

• The equity available in the home you live in
• The value of life insurance
• The value of retirement plans such as 401k plans, pension funds, annuities, non-education IRAs, Keogh plans, UGMA and UTMA accounts for which you are the custodian but not the owner

You will also be asked about the value of your businesses and investment farms. Business and/or investment farm value includes the market value of land, buildings, machinery, equipment, inventory, etc. However, business/farm value does not include the value of a small business your family owns and controls more than 50% if that business has fewer than 100 full time or full time equivalent employees.

Also, the value of a family farm does not include a family farm you (your spouse and/or your parents) live on and operate.

Remember also that the FAFSA is asking for net worth of investments–the value of the investments minus any debt owed against them. Debt here means only debt owed against a particular investment or in the case of a business or farm where the business/farm was used as collateral to secure the debt.

Can DACA Students Get Scholarships?

If you are a DACA grad student, there are potential scholarships available with varying eligibility requirements. Some Graduate Scholarships for DACA Students may not have citizenship prerequisites and could be open to Undocumented or Eligible Non-Citizens (as defined by FAFSA). 

Scholarships for DACA grad students vary in dollar amounts. Some may offset the cost of tuition and fees. While others may cover expenses like food, insurance, books and travel. 

Unlike a loan, scholarships usually don’t require repayment if you fulfill their terms, and a substantial scholarship could help you cover the expenses of pursuing a master’s degree or PhD. 

To be able to apply for a scholarship as a DACA grad student, you need to meet the criteria. These vary from each college and grad schools as well as from each state and local source.

9 Common Criteria for Scholarships that DACA Graduate Students May Need

As a DACA student, your status may not be the only thing you need to show. When you apply for a scholarship, you may need some (or all) of the these to qualify. 

• Grades – GPA range
• Leadership skills
• Volunteer service 
• Goal to pursue a master’s degree or PhD in a certain field 
• Membership in an association
• Strong writing skills 
• Work history related to your major 
• Being a resident of a certain state 
• Financial need  

3 Types of Scholarships for DACA Graduate Students

There are three main kinds of grad scholarships for DACA students. Need based, merit based and contest scholarships. 

Need based scholarships assess financial need. They may still look at a student from all sides. But preferred students will show a desire to go to grad school but also a lack of money.  

Merit scholarships may place more weight on your academic achievement or talent. They may also look at your volunteer service background.  

Contests are another way for DACA students to fund grad school. These often ask you to sign up by making an account. You might enter a few at once to improve your odds. 

One example is ScholarshipPoints. Applicants complete a student profile which asks for name, email, birthday and grade level. This is all you have to do to enter for the $2,500 prize.     

Winning a scholarship contest may help with costs related to getting your grad degree. But, they may not be enough to pay the entire tuition bill.  

As an example, the Get Schooled No Essay Scholarship is a $2,000 award.  

If this is the case, you may need to also get a small loan. Luckily, as a DACA grad student there are borrowers to turn to. MPower Financing is one such option. 

Why Consider Graduate Scholarships for DACA Students? 

About 690,000 people have Deferred Action for Childhood Arrivals status. The average age of “Dreamers” enrolled in DACA is 24 year. About a quarter (24%) are ages 26 to 30, while one in ten (11%) are ages 31 to 36.  

Almost half (45%) of current DACA recipients live in two states: California (29%) and Texas (16%). Illinois (5%), New York (5%), Florida (4%) and Arizona (4%) also have pretty big DACA populations. 

Without scholarships, DACA students may have a hard time being able to pay for grad school. These students do not qualify for federal aid or loans. But scholarships may be easier to find in some states than others. 

There are at least 19 states where DACA students may receive in state tuition. Of these, only some states offer state grants to these students. Those states are California, Colorado, Minnesota, New Mexico, Oregon, Texas and Washington 

Other states make these students pay the same tuition as an international student. These are Alabama, South Carolina, and Georgia. Dreamers in these locations cannot access in state tuition. 

12 Scholarships for DACA Graduate Students for 2023

Are you a DACA student who wants to go to grad school? You may be eligible for state or school financial aid and private scholarships. To get started, check out these 11 scholarships for DACA grad students for 2023.

Dream.US National Scholarship

Undocumented immigrant students under 16 can apply for the Dream.US National Scholarship. It offers up to $33,000 for a bachelor’s degree and is open to those with or without DACA or TPS status. Don’t miss this chance to pursue higher education!

Amount: awards worth up to $8,250
Deadline: February 2024
Requirements: High school seniors and college underclassmen with a minimum GPA of 2.5. Other categories include low-income and immigrant students.  

Dream.US Opportunity Scholarship

Undocumented immigrant students, arrived before 16, may be eligible for the Dream.US Opportunity Scholarship! Open to high school seniors/graduates in locked-out states, offering up to $80,000 for a bachelor’s degree at Opportunity Partner Colleges. Apply now!

Amount: awards worth up to $20,000
Deadline: January 2024
Requirements: High school seniors & college freshmen in specific states with DACA status, minimum GPA of 2.8, low income, and immigrants. States: AL, AK, AR, GA, ID, IN, IA, LA, ME, MA, MS, MO, NH, NC, ND, OH, SC, SD, WV, WI. 

National Association of Hispanic Journalist Scholarships

The NAHJ supports professional growth of Hispanics in the news industry. NAHJ scholarship opportunities range from $1,500 to $10,000. They are open to both undergrad and grad students.   

Amount: $1,500 – $10,000
Deadline: February
Requirements: To be eligible, one must be going to school in the United States and Puerto Rico. Preferred applicants also have at least a 3.0 GPA. Preferred career paths are English or Spanish language print, broadcast, digital or photo journalism. 

Maria Elina Salinas Scholarship – $2,500   

Students applying for this scholarship must submit their essay in Spanish. Preferred applicants must show a strong intent to become a Spanish language journalist. 

eQuality Nursing Scholarships 

Each year, eQuality Scholarship Collaborative awards scholarships. In the year 2023, scholarships are being offered to four categories of students, each with unique eligibility criteria. If you have any doubts about your eligibility, feel free to reach out to them via email before proceeding with the application process or deciding against applying. 

Amount: $6,000
Deadline: Scholarship will resume in the fall
Requirements: Applicants must be a resident of northern or central CA. But may study in other places (there’s a list of approved sites). They must also be enrolled by the interview date and in good standing. Master’s programs with a BA/BS in a field other than nursing are eligible. RN re entry and RN to BSN or MSN programs are not eligible. 

Simplr AI and Technology Scholarship

Simplr is a Silicon Valley start-up involved in machine learning and AI. They offer a $7,500 scholarship award as a way to give back to the community.  

Amount: $7,500
Deadline: December 31
Requirements: Applicants can be pursuing an undergrad or grad degree in an accepted major. Computer Science (CS), Math, IT. Or is attending or will attend law school. Criteria include merit and financial need. Applicants must submit a winning essay showing their passion for one of a few topics. AI, the Internet of Things (IoT), Block chain tech and Intellectual Property (IP) law.    

MPower Global Citizen Scholarship 

The MPOWER Global Citizen Scholarships are available through MPower Financing. These scholarships support DACA and international students at partner schools.  

The scholarship is open to all international and DACA students, regardless of whether they are MPOWER borrowers, and aims to support the diverse experiences of international students. 

Amount: $10,000
Deadline: October 31, 2023
Requirements: You do not need to be a borrower to apply. The form asks prompted questions about goals and education history and includes a longer essay. 

MPower Women in STEM Scholarship 

The Women in STEM Scholarship is available to those planning to study STEM in the U.S. or Canada with legal permission to do so. This scholarship, offered by MPOWER Financing, aims to support women in STEM by providing up to $6,000 annually to help reduce financial barriers to international education. 

Amount: $6,000
Deadline: January 15, 2024
Requirements: College and graduate students with DACA status, particularly women, pursuing degrees in computer science, education, engineering, electrical engineering, biology, math, or healthcare are eligible for the scholarship.  

Prospanica Foundation Scholarships  

If you are a Hispanic/Latino student enrolled in a U.S. undergraduate or graduate business program, consider applying for the Prospanica Foundation Scholarships! Each year, eligible applicants who are Prospanica members can receive awards of up to $5,000. The scholarships have different criteria and award amounts, so check the FAQ for more details. Prospanica is a business-oriented organization dedicated to empowering and enabling Hispanic professionals to reach their educational and career goals. If you support their mission and need financial assistance for your education, we encourage you to apply! 

Amount: awards worth up to $5,000
Deadline: April 2024
Requirements: College students of Hispanic/Latino heritage, who are US Citizens, Permanent Residents, or DACA recipients, with a minimum GPA of 2.8, and pursuing an academic interest in Business are eligible for the Prospanica Foundation Scholarships. 

Ford Foundation Predoctoral Fellowship

The Ford Foundation Predoctoral Fellowship is available for academically outstanding students pursuing a research-based Ph.D. or Sc.D. program in the U.S., with a career goal in teaching and research at the university level. The fellowship, offered by The National Academies of Science, Engineering, and Medicine, grants $9,000 awards to support graduate studies for aspiring educators passionate about teaching. 

Amount: $9,000
Deadline: December 2023 
Requirements: Graduate students with an academic interest in Education or Social Science and holding US citizenship, Permanent Resident status, or DACA are eligible for this scholarship.

Davis Putter Scholarship 

The Davis Putter Scholarship Fund aids those who work to advance social and economic justice. The largest grant is $15,000 per year.   

A complete application includes a 1000 word essay that details progressive social activity. You must also provide two letters of recommendation, transcripts and show financial need.  

Amount: up to $15,000
Deadline: April 1
Requirements: Preferred applicants to these need based scholarships are student activists. Recent awards went to students active in efforts against racism, sexism, and homophobia. To apply, you need to be a current grad student or enrolled in a trade or technical program.  
 

American Hotel and Lodging Educational Foundation Scholarships 

AHLEF presents a range of scholarship opportunities annually, with a total of nine programs. These scholarships offer generous values, some up to $7,500. The recipients are students who are currently pursuing bachelor’s or graduate degrees in hospitality-related fields. For the upcoming year, AHLEF has allocated $1.3 million in scholarships, benefiting over 100 deserving recipients. 

Amount: Varies
Deadline: The application process for the 2023-2024 batch is now closed. Stay tuned as applications for the 2024-2025 academic year will open later this fall.  
Requirements: Preferred applicants have strong grades, financial need, and relevant work history.  

The United States government provides Education Tax Credits (ETCs) for eligible students and individuals who cover educational expenses. Tax credits offer a one-to-one reduction in your tax liability, effectively reducing the amount of taxes you must pay. If these deductions bring your tax liability below zero, you may even be eligible for a tax refund. These credits were established to incentivize students to pursue higher education and ease the burden of tuition costs.

There are two potential tax credits available to students: the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC). To qualify for either of these credits, students must satisfy a range of criteria, some of which overlap while others differ.

To be eligible for either the AOTC or LLC credit, you must, at the very least, satisfy the following requirements:

1. Qualified expenses for higher education, such as tuition and mandatory fees, must be paid by you, a dependent, or a third party.
2. The eligible student must be enrolled in an eligible higher education institution, one that qualifies for federal student aid and possesses a Federal School Code.
3. The eligible student, whether it’s yourself, your spouse, or a dependent, must be included on your tax return. An eligible student cannot be married and file taxes separately.

In addition to these fundamental criteria, there are further distinct conditions that must be met to qualify for the AOTC and LLC.

AMERICAN OPPORTUNITY CREDIT

The American Opportunity Tax Credit (AOTC) represents a modification of a prior credit known as the Hope Credit.

Eligibility for the AOTC extends to students, spouses of students, and third parties (including parents of students) who have covered the qualified expenses, such as tuition and fees, for someone attending school. The individual claiming this credit must have made these payments either in the preceding year or within the initial three months of the year in which the taxes are being filed.

Once you meet the qualifications, you can apply for the AOTC once annually, limited to the first four years of a student’s college education. The student in question must be enrolled in a program leading to a degree or certificate and be enrolled at least half-time during one academic period (e.g., a semester) for the tax year.

This credit is calculated in two parts, meaning students can receive the tax credit on the following:

1. 100% of the first $2000 of eligible expenses
2. 25% of the next $2000 of eligible expenses

In short, the AOC is worth up to $2500 in tax credit per year. If you do not owe any taxes, you can have up to 40 percent of the tax credit refunded to you.

To remain eligible for this tax credit, your modified adjusted gross income must be $80,000 or less. For married couples filing jointly, it must be $160,000 or less.

LIFETIME LEARNING TAX CREDIT

The Lifetime Learning Credit is easier to qualify for than the AOTC.

Students become eligible for the LLC by taking at least one course during the tax year. Their course or courses can apply toward a degree or certificate, or they can simply stand alone. Said another way, students can earn this credit simply by taking a course or two to enhance their job skills.

There is no limit to the number of years students can apply for the LLC. Therefore, they can apply for one as they earn their undergraduate and/or graduate degrees. They can also apply for it to supplement the costs of undergraduate or graduate courses.

To be eligible for the LLC, applicants’ modified adjusted gross income must be $52000 or less. For married couples filing jointly, it must be $104,000 or less. You can only claim an LLC for one student per tax return.

The LLC is worth up to $2000 per return. Unlike the AOC, it does not offer a refund if you do not owe any taxes.

Like the AOTC, the LLC is available to U.S. Citizens and Resident Aliens. It is not available to students who are already claimed as a dependent on someone else’s tax return (such as a parent’s).

Key terms and forms for the LLC:

• Modified Adjusted Gross Income: this is the adjusted gross income, found online seven of Form 1040. Use Publication 970 through the IRS to help find this number. It helps you identify whether or not you’re eligible for the AOTC.
• IRS forms to use: Form 8863 (Education Credits) and Form 8863 Instructions (note that this is the same form you will use for the AOTC).

AMERICAN OPPORTUNITY TAX CREDIT VS. LIFETIME LEARNING CREDIT

Source

Taking advantage of the American Opportunity Tax Credit and the Lifetime Learning Credit help make higher education more affordable. Remember that to qualify for either, you must:

• Pay qualified expenses for higher education
• Have a student (or be a student) registered at a qualified college (one that has a Federal School Code)

Otherwise, the LLC is easiest to qualify for. To receive that tax credit, students can take as few as one class. They do not have to be pursuing a degree or certificate. And they can apply for the LLC for the duration of their academic career; there is no limit to the number of years it’s available.

The AOTC meanwhile, is more difficult to qualify for. To receive that tax credit, students must be enrolled at least half time for one academic period per year. They have to be pursuing a degree or certificate. And they can only apply for the credit for the first four years of college education.  

The IRS makes applying for the AOTC and the LLC relatively simple. Applicants can use Form 8863 for both, and instructions for applying are available online.

Be sure to take advantage of the government-supplied benefits.

IS IT SMART TO CONSOLIDATE YOUR STUDENT LOANS?

Loan consolidation involves merging multiple loans into a single one. If you’ve taken out several student loans during your college years, consolidating them can simplify your life in the following ways:

• You can turn several loans into a single loan
• You can make a single monthly payment instead of many
• You can switch variable interest rates to a single, fixed interest rate
• You might be able to lower your monthly bill
• If you have loans that don’t currently qualify for a federal loan forgiveness program, you could turn them eligible

Students with federal student loans have the option to apply for a Direct Consolidation Loan. This allows them to merge various types of loans, including Unsubsidized and Nonsubsidized Federal Stafford Loans.

Often, students consolidate after their grace period is over. The grace period is when your loans are temporarily in deferment after you graduate.

What about private student loans? While not eligible for a Direct Consolidation Loan, you can consolidate your loans through a lender. This is called refinancing.

HOW TO CONSOLIDATE STUDENT LOANS

1. IF CONSOLIDATING FEDERAL LOANS, START AT STUDENTLOANS.GOV

You can to fill out a Federal Direct Consolidation Loan Application and Promissory Note online. You may need information such as your Social Security Number, driver’s license number, and two personal references.

2. CHOOSE THE LOANS YOU WANT TO CONSOLIDATE

You may not wish to consolidate all of your federal loans. Why? Because some may come with extra benefits, like Perkins subsidized interest, or cancellation and discharge programs. You’ll lose those benefits after you consolidate.

Plus, if you have a loan with a higher interest rate than the others, you may wish to pay that off on its own. That’s because the interest rate of your Direct Consolidation Loan depends on the weighted average of the interest rates for all your loans. It may be smart to pay off that higher interest loan quickly, instead of including it in your Consolidation Loan.

What about private student loans? Since these don’t come with federal benefits, you could potentially refinance them all with a private lender.

3. CHOOSE YOUR STUDENT LOAN SERVICER

For federal loans, you can choose from several servicers. One possible option is FedLoan Servicing, which manages the Public Service Loan Forgiveness program (PSLF). If you plan to work toward PSLF, it may make sense to choose FedLoan Servicing.

For private student loans, there are several private student loan companies that do refinancing. When choosing a company to work with, consider factors like:

• Interest Rate Ranges: The interest rate you qualify for depends on your lender, your credit report/eligibility, and the market. As of 2018, variable interest rates range from about 2.5 to 9.09%. Remember that variable rates can get higher or lower over time. Fixed rates, which stay the same, range from about 3.35 to 9% in 2018.
• Loan Amount: Some lenders have minimum or maximum amounts you can refinance.
• Loan Period: How quickly do you want to pay off your loan? Refinancers may have a minimum loan period, usually from five to 15 years. They may also have a maximum loan period. Remember that the quicker you pay off your loans, the higher your monthly payments will be. But, you’ll save on interest if you pay off your loans quickly.
• Hardship Options: Does your lender have deferment and forbearance options? If you have trouble paying off your loan due to an event like the loss of your job, these options could help.
• Fees: Compare late fees or other kinds of loan servicing fees.
• Extra Benefits: What extras make a particular lender stand out? For example, some offer interest rate reductions if you hit milestone goals – like repaying the first 10% of your principle.

4. DECIDE ON YOUR REPAYMENT PLAN

For federal loans, there may be several ways to repay your consolidation loan. These include:

Standard Repayment Plan – Fixed payments, made over a period of 10 to 30 years Graduated Repayment Plan – Payments start out low and increase over 10 to 30 years Extended Repayment Plan – Fixed or graduated payments; pay off your loans in 25 years Income Driven Repayment Plans – Payments are recalculated each year based on factors like your income and family size

Private student loan refinancing companies do not have the same kinds of repayment options. That said, some lenders may offer more flexible plans.

5. SUBMIT THE APPLICATION

Once you’ve fully understood your options, it’s time to take the next step. Contact the loan servicer if you have questions or need help with your application.

LOAN CONSOLIDATION VS. LOAN REFINANCE

Both student loan consolidation and refinancing are ways to simplify repayment and change your loan terms. Consolidating only works for your federal loans, though.

If you want to combine several private student loans (or private + federal loans), you’ll have to refinance. Student loan refinancing means applying for a new private student loan and using it to pay off your other loans.

There are pros and cons to both. For starters, consolidation typically won’t lower your interest rate. Refinancing usually does, meaning you could save money over the life of your loan.

That said, refinancing student loans depends on factors like your income, credit report, and debts. In other words, your loan terms are based on your creditworthiness. That’s not the case when you consolidate federal student loans.

And, refinancing federal loans with a private lender could mean you lose out on key benefits – like subsidized interest or loan forgiveness.

Depending on the types of loans you have, a combination of consolidation and refinancing may be the ideal plan.

STUDENT LOAN CONSOLIDATION: THE BIG PICTURE

• Americans owe over $1.5 trillion in student loans(2020).
• 42% of people who attended college had education debt (2017).
• The typical student loan payment was between $200 and $299 per month(2022).
• 43 million borrowers hold Consolidation Loans (2024).

Average aid per full-time equivalent (FTE) student in 2022-23 was:

• $15,480 per undergraduate student
• $28,300 per graduate student

PRIVATE STUDENT LOAN CONSOLIDATION LENDERS

Private student loans serve as a means to fill the financial gap between federal financial aid and the actual cost of your college tuition. Prioritize exhausting financial aid from other sources, such as grants, scholarships, work-study, and federal loans. If there’s still a need for additional funds, considering private loans could be the next step in your college financing strategy.

Here’s what you need to know before getting started!

FEDERAL VS PRIVATE STUDENT LOANS

Federal student loans receive funding from the federal government, while private student loans are provided by lenders such as banks and credit unions. Additional distinctions between the two types of loans include: 

• Overall Cost of the Loan.  Private education loans tend to have a higher overall cost. 
• Interest Rates. Private student loan interest rates may be higher than federal rates. Sometimes, private loans have variable interest rates that change over the life of the loan.
• Loan Repayment Terms.  Private loans often come with less favorable repayment terms compared to federal student loans, which may offer income-based repayment plans and other benefits. 
• Borrower Eligibility. For private student loans, your credit score may impact your eligibility, and you might need a cosigner. In contrast, most federal loans do not require a credit check or cosigner. 

Make sure to explore all available government financial aid programs before considering private student loans. However, if federal loans fall short in covering your college expenses, a private loan could be a viable option. 

FINDING LENDERS

Numerous banks, credit unions, and financial institutions provide private student loans. To find the best fit for you, it’s prudent to compare interest rates, terms, and conditions among a selection of top-rated lenders.

COMPARE THESE PRIVATE STUDENT LOAN LENDERS:

• Sallie Mae
• SunTrust 
• College Ave
• PNC
• Citizens

APPLY FOR A LOAN

When exploring private student loans, it’s essential to consider that not all loans are alike, and different lenders may offer products, features, and terms that align better with your objectives. As you delve into potential lenders, here are some crucial factors to bear in mind:

• Your Eligibility. Assess whether you seek private student loans without cosigner requirements or if your credit history presents challenges. Some private loans may suit your needs more favorably based on your citizenship status, income, part-time or full-time student status, and other criteria.
• Loan Cost. Scrutinize factors such as the loan’s interest rate, interest type (fixed or variable), and associated fees. These elements contribute to the overall cost of your loan. For instance, be cautious when opting for a low, variable interest rate if you intend to repay the loan over an extended period. Variable rates can fluctuate with the market, resulting in higher payments than anticipated.
• Loan Features. Certain private loans offer advantageous features, such as cosigner release, deferment options in case of financial hardship, or early repayment opportunities. Additionally, many lenders provide auto-pay discounts, often reducing the interest rate by 0.25 or 0.50 percent. Compare multiple lenders to explore the various features available to you.

HOW TO APPLY FOR PRIVATE STUDENT LOANS

Prior to considering private student loans, it’s crucial to complete your FAFSA and make the most of any federal grants or loans you are eligible for. Additionally, don’t overlook the opportunity to apply for scholarships! If you find that you still require additional funds, then you can initiate the process of selecting a lender and applying for private student loans.

IF YOU’RE ELIGIBLE, HERE’S HOW TO GET A PRIVATE STUDENT LOAN:

1. Get Ready to Apply. Generally, you can apply for private student loans online. To start, you’ll need to prove your basic eligibility – like citizenship and college enrollment status.
2. Submit Documentation. You’ll need to provide your personal and financial information to your lender. Your lender may require documents like your Social Security number, a pay stub for proof of income or your monthly housing costs. They may also as for your school’s cost of attendance, the amount of financial aid you’ve already received, your cosigner’s details (if applicable), and other information.
3. You’ll Receive a Decision. Your lender will need to process your application and analyze your financial and eligibility information, to let you know whether you’re approved. If you’ve applied for your private loan online, you may receive a result pretty quickly – sometimes in minutes! In other cases, a lender may need more information from you to move forward.
4. Choose and Accept the Loan Terms. Once you’ve been approved for the loan, you’ll need to decide on your interest rate type (fixed or variable), loan term, and repayment plan. You and your cosigner (if you have one) will then sign the loan agreement.
5. Wait for Disbursement. Your private student loans will be sent directly to your college or university. If you have borrowed more than your tuition actually costs, your school will generally refund the difference to you. You can return that money to your lender. Or you could use it to cover other college costs, like room, board, or your textbooks. It’s always best to borrow the minimum amount you need to cover your education related expenses.

PRIVATE STUDENT LOANS ARE AN IMPORTANT RESPONSIBILITY

Opting for private loans to finance your college education can make your academic journey possible. College opens doors to new career opportunities and a promising future. Nevertheless, it is crucial to be aware of the risks and responsibilities as a borrower. You must ensure that you are prepared to take out and eventually repay your private loans.

Military education benefits offered under the GI Bill might help you pay for college and transition into the next phase of your life. But for many active service members or veterans, a traditional college experience isn’t the perfect fit. Online learning may better suit your lifestyle, schedule, and goals. And the good news is, online degree programs may be eligible for military education benefits.

ABOUT YOUR GI BILL BENEFITS

You may qualify for the Post-9/11 GI Bill if you have at least 90 days of aggregate active duty service following September 10, 2001, and you are still on active duty; if you are an honorably discharged veteran; or if you were discharged with a service-connected disability after at least 30 days of service.

The Montgomery GI Bill (MGIB) may be available to active duty military members or selected reservists. In the Montgomery GI Bill Active Duty (MGIB-AD) program, service members must pay $100 a month for twelve months and complete a minimum service obligation. In the Montgomery GI Selected Reserve (MGIB-SR) program, the VA makes monthly payments toward your benefits.

Both the Post-9/11 and Montgomery GI Bill programs may be used to pursue a variety of educational paths. These include college degree and certificate programs, vocational and technical courses, and even online or correspondence courses.

Check out our chart at the bottom of this article, to compare military education benefits programs you may qualify for!

HOW TO USE GI BILL FOR ONLINE SCHOOLS AND PROGRAMS

Wondering how to use your VA online school benefits? Actually, using the GI bill for online schools isn’t any different from using these benefits at a traditional college…as long as your school and program are eligible.

ACCORDING TO THE U.S. DEPARTMENT OF VETERANS AFFAIRS, YOU SHOULD FOLLOW THESE STEPS WHEN APPLYING FOR BENEFITS:

1. If You’re Ready to Apply, Do So. You can apply for VA military education benefits online, or else apply in person at your regional VA office. You can also call 1-888-GI BILL-1 (888-442-4551) to have an application mailed to you.
2. If You Have Questions About Your Benefits, Talk to Someone. You can consult with the VA Certifying Official at your school of choice, to learn more about using your military education benefits. This person is usually in the Registrar’s or Financial Aid office. If you plan to study online or at a school far from home, that’s okay. Just contact the Registrar’s or Financial Aid office by phone or email. You can also seek assistance from an employee at your regional VA office.
3. Wait for Your Claims to Be Processed. It usually takes about 30 days for VA to make a decision about your claims.

Servicemembers, veterans, and even military spouses and dependents may qualify for various military education benefits, many of which can be used to pursue an online degree program. But yes, it can get confusing. Use our handy chart to compare programs you may be eligible for. Remember to always check with The Department of Veterans Affairs to verify your eligibility and learn more about these and other programs.

LIST OF MILITARY PROGRAMS AND BENEFITS

Disclaimer: This is a private website that is not affiliated with the U.S. government, U.S. Armed Forces or Department of Veteran Affairs. U.S. government agencies have not reviewed this information. This site is not connected with any government agency. If you would like to find more information about the benefits offered by the U.S. Department of Veteran Affairs, please visit the official U.S. government web site for veterans benefits at Veterans Authority.

FIND GI BILL ONLINE SCHOOLS AND START USING YOUR MILITARY EDUCATION BENEFITS

Finding online degree programs that suit your goals, academic interests, and VA education benefits may be easier than you think. Search online for Montgomery GI Bill and post 9 11 GI Bill online classes and programs. Or, let Education Connection help match you to colleges and universities for free!

Federal loans for students offer you the chance to borrow funds for college that you must repay with interest. Often, these federal loans offer a lower interest rate and more flexible repayment terms than private student loans.

Learn all about what types of federal student loans are available to find the best option for you and don’t forget to discover grants and scholarships to help you earn free money for college.

In 2015-16, 85% of first-time, full-time degree / certificate-seeking undergraduate students were awarded financial aid. Overall, 72.3%of all undergraduates received some type of financial aid.

TYPES OF FEDERAL STUDENT LOANS

There are two main types of federal student loans:

• William D. Ford Federal Direct Loans
• Federal Perkins Loan Program

These loans have unique requirements, interest rates, and maximum awards per year, which are explained below.

WILLIAM D. FORD FEDERAL DIRECT LOANS

This is the largest federal student loan program where the U.S. Department of Education is the lender. These loans include:

1. Direct Subsidized Loans
2. Direct Unsubsidized Loans
3. Direct PLUS Loans
4. Direct Consolidation Loans

Check out the table below to learn about the differences between these loans.

FEDERAL PERKINS LOAN PROGRAM

As opposed to direct loans, which have the Department of Education as the lender, the Perkins loans are school-based loans, which means that the individual school is the lender.

These loans are offered to undergraduate and graduate students with exceptional financial need. In addition, the amount awarded depends on the amount of funds available at a particular school.

Often, the students with the greatest financial need are awarded Federal Perkins Loans.

TYPES OF FEDERAL STUDENT LOANS

PERCENTAGE OF GRADUATE STUDENTS WHO RECEIVE FINANCIAL AID

71.6% of all graduate students received some type of financial aid, including 44.2% of graduate students who took out some type of loan.

HOW TO APPLY FOR FEDERAL STUDENT LOANS

In order to apply for federal student loans, you must complete and submit a Free Application for Federal Student Aid (FAFSA). Based on these results, your college or career school will send you a financial aid letter, which may or may not include an offer of federal student loans.

This offer includes instructions on how to accept all or part of the loan. However, before you receive your loan funds, you will have to complete two steps:

• Complete entrance counseling to ensure that you understand your obligation to repay the loan
• Sign a Master Promissory Note (MPN), agreeing to the terms of the loan

As some students may not receive federal student loans as an option after completing the FAFSA, don’t forget about private student loans. While each lender and type of loan have different requirements than federal loans, private loans are available to all students.

BENEFITS OF FEDERAL STUDENT LOANS

Some of the benefits of federal student loans include:

• Interest rate on federal loans is usually lower than private student loans
• You don’t need a credit check or cosigner for most federal loans
• You don’t need to begin repaying your federal loans until you leave college or drop below half-time
• If you demonstrate financial need, you may qualify to have the government pay your interest while you are in school
• Many federal student loans offer flexible repayment plans and options to postpone your loan payments if you’re having trouble
• You may be eligible to have a portion of your federal loans forgiven if you meet certain conditions and work in certain jobs

FAFSA Application Deadline

Normally, online FAFSA applications must be submitted by midnight Central Time on June 30 of a given year. For instance, the 2019 FAFSA deadline is midnight Central Time, June 30, 2019.

FEDERAL STUDENT LOANS – HOW MUCH SHOULD YOU BORROW?

Whether you’re taking out a private student loan or a federal loan, it’s important to consider the legal obligation you have to pay back then loans, so responsible borrowing is key.

Some of the things to consider when borrowing money for college:

• Understand your total amount of loans and how this will affect your future finances
• Research starting salaries in your field
• Understand the terms of your loan
• Make payments on time

Often there are flexible repayment terms for both federal loans and private student loans. This includes options such as, grace period, interest-only payments while in school, and interest rate reductions for automatic debit.

Looking for private student loans? Check out some of your options here!

Percentage of Students Stressed about paying for college

According to a 2017 study by The Princeton Review, 98% of college applicants and their parents said financial aid would be necessary to pay for college. Plus, 65% said financial aid was extremely necessary.

OTHER TYPES OF FINANCIAL AID

As the price of college tuition continues to rise understanding the types of financial aid and finding the right combination of financial aid to pay for your degree is just as important as finding the perfect program for you.

Luckily, there are plenty of other options of financial aid for you to choose from, including:

• Federal Grants
• Scholarships
• Federal Work-Study
• Private Student Loans
• Institutional Aid
• Employer Funding

All of these options mean that you don’t have to worry if you need to supplement your federal student loan offer. Discover some private student loans to find the perfect one for you.

FIND THE FINANCIAL AID PACKAGE AND FEDERAL STUDENT LOAN THAT’S PERFECT FOR YOU

Finding the right mix of financial aid is one of the key aspects of earning your degree. That’s why it’s important to consider all of your options and be sure to do your research.

A good starting point is talking to your counselor or the financial aid office at your school, both of which should have specific details for you to explore.

In the meantime, check out some of our private scholarships and find the perfect degree for you.