Funding Your College Education

While most of your Federal education loans (Stafford or GradPLUS) get awarded to you for the full year, we all know what it's like to be broke by the end of the first semester! You're wondering how you're going to get through another few months! You need to buy books, a parking pass and that's not even counting your laptop that's on it's last leg. 

I remember spending so much time saving and planning for the school year only to be feeling really broke by December. I didn't want to use my credit cards and wasn't going to tell my parents. Had I only known about my options then... 

Attention Current Students...

Check out the Act Education Loan - there is a quick online application and you can get a decision, sometimes, within minutes. The funds go right to you so you can replace that old paperweight, also known as your laptop. Borrow up to $40,000 if you attend a school with a relative cost of education - otherwise, you can still get up to $30,000! Make sure to apply with a co-signer as it is credit based. I've read that most undergraduate, and even graduate level, students don't have enough or any credit to be able to get this loan on their own signature. However, a parent, neighbor, relative or whoever can help co-sign as long as they have good credit. 

Hope second semester is easier! 

Students and parents I know the financial aid process can be a difficult and confusing one, but, there are a couple of definite things you need to know so that you won't keep getting bounced back from person to person. 

One, Stafford in not a name of a company and is NOT the lender.  It is just the type of loan your getting.  Second, please REMEMBER where you applied for the loan.  There are a lot of websites out there where you can apply for a stafford loan so please write it down.  I know the student loan network is the first hit when you look up STAFFORD but we are not a universal company and can't find your information if you did not apply through us.  Following these two steps should make your process a little less stressful and my day easier.  Thank you.

 My name is Kathy and I am the most recent addition to the Student Loan Network.  I have been working here for a little over two weeks now and I was shocked to find out just how little I really knew about Federal Financial Aid.  When I attended College the internet was just starting to take off and I didn't have the same resources that are available to the public now.  I  hope by sharing a little of what I have learned so far will better equip you when thinking about applying for financial aid.

I have found through my telephone calls that students are very confused when it comes to understanding the financial aid process.  Having gone through my own learning process, I hope I can provide them with a little knowledge on how to get started and what sites are useful.  When thinking about applying for a stafford loan a student must always start by filling out their FAFSA.  You can do this by either going to your schools financial aid office or logging onto www.FAFSAonline.com.  After receiving your award letter you can then go to  www.staffordloan.com where you can fill out an online application and be provided with a lender.  Both of these sites are loaded with useful information and practically hold your hand through the process.

For all the parents out there who are just as confused as their children there is also a site for you.  You can find all the information you need at www.parentplusloan.com.  You will also be able to fill out the application online and will almost always be approved or denied immediately. 

I hope you will find the above links useful and if you have any questions you can always contact the helpful reps at the Student Loan Network.