| Do you have a child who will be graduating high | | | | gets top grades, but also is involved in sports and |
| school in the next couple of years? or even next | | | | community service, the number of college |
| year? Then now is time for you and your college | | | | scholarships available is astounding and your student |
| bound student to start thinking about how to pay for | | | | should take advantage of everyone possible available. |
| college if you haven't thought about it already. With | | | | Free college scholarship searches are available to |
| the rising cost of college tuition, the sooner you start | | | | assist in finding the appropriate college scholarship. |
| planning how you will pay for college, the less worries | | | | Student Loans for Parents |
| you might have when it is finally time to actually | | | | Another less advantageous method of paying for |
| make those tuition payments. | | | | college is to take our a student loan for parents. |
| Pell Grants | | | | These are called PLUS loans and allow parents to |
| Pell grants are the first type of aid you will apply for. | | | | borrow the entire cost of an undergraduate |
| This simply requires that you fill out the Free | | | | education including tuition, room and board, supplies, |
| Application for Federal Student Aid (FAFSA). This is | | | | lab fees and any other costs not covered by any |
| usually the first step in applying for student loans and | | | | other aid in the form of scholarships and grants the |
| no one should avoid it. Once the application is sent in, | | | | student may qualify for. Additionally, these loans do |
| it is evaluated and if you qualify for a Pell grant, you | | | | not require collateral as a home equity loan would. So |
| will get the full amount of what you qualify for. You | | | | you don't have to worry about putting up the house |
| need to do nothing further but supply the names of | | | | to pay for college. Lastly, PLUS loans can be |
| the schools your student will be applying for or has | | | | consolidated under a variety of repayment plans with |
| gotten into. | | | | a fixed interest rate for the life of the loan, and low |
| Scholarships | | | | monthly payments. |
| There are several ways to pay for college. The first | | | | Student Loans |
| and most advantageous is to pay for college with | | | | Student loans are similar to the PLUS loans with the |
| scholarships. College scholarships are not only about | | | | exception that they are given to the student and not |
| academics. Students can qualify for a multitude of | | | | the parent. The interest rates are usually a little lower |
| college scholarships for a variety of reasons. | | | | than the PLUS loans, but the responsibility of |
| Academics is one of the most obvious. A good | | | | repayment lies with the student and not the parent. |
| student with top grades will generally qualify for | | | | The benefit of student loans over PLUS loans, is that |
| many scholarships that are based on the student's | | | | some of the loan is subsidized, which means interest |
| GPA or class standing. Other qualifications are | | | | does not accrue until the student drops below half |
| primarily based on what the student actually does | | | | time or finishes school. |
| outside of school. If they participate in community | | | | It is also guaranteed that the student will qualify for |
| service work, there are many scholarships available | | | | a student loan. |
| because this type of work shows a strong | | | | So if you haven't started searching for ways to pay |
| commitment to community involvement. This hold the | | | | for college, I recommend that you do immediately. In |
| same for membership in a social group. Sports | | | | the long run, your early start to looking for ways to |
| involvement is another that may qualify a student for | | | | pay for college, will reduce your overall costs. |
| a scholarship. If you have a student who is not only | | | | |