I have no idea what I’m doing, I’m trying to get into a university. I recently withdrew from a local technical program due to the lack of competence of one of the instructors. When I first started at the Technical School I had little knowledge about financial aid and student loans, this time I want to be fully prepared. Can someone explain to me how financial aid and student loans work? I have filled out a fafsa, and have to change my school code for the new school I’ll be attending. Also, what else should I be doing to get more money for my education?
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call dept of education
Finical aid comes in many different forms. The ones you want the most are Pell grants, other types of grants, and scholarships. These types of aid is money from the government that you don’t have to pay back. Pretty much, free cash for college. Loans are required to be paid back. Most student loans have a low interest rate, which is good, and don’t require for you to start making payments on until 6 months to a year after graduating from college.
if your in the uk, when applying for a student loan on the direct gov website, MAKE SURE you clic the box which says allow your details to be shared with a third party, third party is your actual university, who will pay you two installments of £560 (maximum) extra, that you will not have to pay back. Also if your parents don’t earn too much, make sure you get them to provide all their details, the student loan application on the website will give you a step by step guide of how to order form and what yopur parents need to fill out about their salary, it wont take them very long at all. The less they earn, generally the more you get. Also if your uni course is only a few days a week, I would reccomend getting a part time job. I had to do this as my parents are unable to pay my rent & fees. Its still really hard and I’m struggling, another option is, open a student bank account, they will give you an overdraft of 1000, but you will have to pay this back! xx
It all depends on what you want to get out of it. Check out my financial aid blog for more financial advice info and more useful ideas:
http://financial–aid.blogspot.com/2008/07/financial-aid-and-student-loan.html
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