Students considering this loan should pay close attention to how their total repayment costs might be affected.
Consolidating and extending the repayment schedule of your loans can add considerable costs to your total obligation.
Scholarships and grants are windfalls for college funding, because they do not require repayment.
Performance and financial need are considered, and then eligible students are endowed with gifts that pay for tuition, books and housing.
Institutional loans are extended by colleges and universities as a means to cover educational costs that remain after other forms of financial aid have been applied.
Student loans are funded by a variety of sources including The United States Federal Government and private lenders like banks and credit unions.
Federal loans are the most accessible to students, and offer the best repayment terms. These distinct types of loans are available to students and parents seeking Federal Financial Aid: Stafford Loans To be considered for Stafford Loans and other Federal Student Aid, you must submit a Free Application for Federal Student Aid (FAFSA).
Your financial aid office is best equipped to outline specific programs offered by your school.
Though there are two major sources of student loans — federal and private – the federal side dominates the action, both in amount of money available and loan repayment programs.