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The cost of attending an excellent college is increasing faster than the rate of inflation. Many parents are finding the funds that they have set aside for their children to attend college are inadequate. However, parents do not have to take on the burden of college loans. Students have many options available to fund their college education.
First, students should apply for scholarships. Scholarships never have to be repaid! Best of all, there are hundreds of thousands of different scholarships that students can apply for. Athletic students can win athletic scholarships. Brilliant students can win academic merit scholarships. There are also a myriad of scholarships available for students who are left handed, female, from a different country or who have a special talent. Many local businesses also offer scholarships to students as a method to boost public relations.
Second, students should consider ROTC or the military. ROTC is a program that allows students to train to become military officers while attending school. An ROTC scholarship pays for the student to attend their classes, however, the student must complete a certain time in active military service following their enrollment. The military also allows members to qualify for special scholarships and payment options. The GI Bill as well as other programs can help individuals to pay for their college after they have already served in the military. Some former military students may even qualify for a housing allowance while they are studying.
Third, students need to see if they are financially eligible for grants. A grant is another option to avoid loans. Many states offer a grant to their students if they achieve a certain GPA or have a certain range of test scores. However, the most common grants for students to receive are Pell grants. These grants are awarded based upon a students information on their FAFSA. The FAFSA allows students to input their income and their parents income to verify their qualification for numerous federal programs.
Students and parents do not have to be saddled with student loans for the rest of their lives. There are a number of programs that students and parents can use to avoid college loans completely.
What else can I help you with?
Are parents legally obligated to pay for college education if they have not filed tax returns or paid taxes in years keeping the child from being able to obtain government aid or private loans?
Technically, parents are not obligated to pay for their child's college education since college is elective. It is the parents' choice whether to pay for a student's college fees or not. As for filing tax returns, you might want to get current on that, especially if you can claim your child as a dependent. You might avoid penalties and liens on your possesions...
If parents file bankruptcy ie when their child is 10 what effect if any will that have when the child needs loans for college?
The effects of bankruptcy usually last for seven years so your parents have an opportunity to regain their credit and be able to get a loan before you go to college. If your parents cant get a loan there are a lot of other ways for you to get loans and grants and still be able to go to college. Try to do really well in school and you may be able to get a scholarship that helps pay college tuition.
If you are divorced do you have to pay for a child's college or can you have the student get loans for college if you co-sign?
Anybody can apply for student loans. You or your child should "google" scholarships and see if there are any that your child qualifies for. There are thousands of them out there. if you are divorced an the child is 18 or over you do not have to pay for college it would be up to you if you want to co-sign or pay for college
Who qualifies for a parent plus loan?
Parent plus loans are for college students who have parents that can't afford to pay their child's tuition. Many students now days can't afford to go to school, and most parents don't set up education funds. These the people who these loans are designed for.
Can parent plus loans be transferred to the student?
No, Parent PLUS loans cannot be transferred to the student. These loans are taken out by parents to help pay for their child's education and are the responsibility of the parent borrower.
If your parents make too much money can you get financial aid for college?
Did you mean financial aid? Pretty sure you can get a loan no matter how rich your parents are.
Should good high school students take out loans for college?
Some high school students will have to take out loans for college is their parents do not have a savings accout set aside for them. Another way to gain money for college is by looking for scholarships and the amount they will pay towards college.
How do I transfer colleges when loans are already approved for a different college?
You get new loans for yoru new college, and cancel the old loans for the old college.
Student loans if you transfer to a different college?
New college means new loans.
Does filing bankruptcy hamper getting college scholarships for your child?
Yes, for Chapter 13 cases. No allowance in the monthly budget is made by the Bankruptcy Trustee for financial contributions by parents for the college education of dependents. Eligibility for financial aid is still calculated on the income of bankrupt parents, although they do not have the ability to contribute. The only relief is that students may take out additional unsubsidized Stafford loans.
Does my child need my permission to get college loans?
Most of the time they need you to cosign in order to qualify for a loan. You can try a stafford loan.
What kind of student loan is best to take out?
Student loans are a great way to finance college tuitions. There are different loans that are available with low interest rates. Some can even be co-signed by parents.
