Archive for the ‘Student Loans’ Category

Paying for Your Online College Degree Program

Friday, March 25th, 2011

Worried about paying the bills after tacking on the cost of an online college degree program? You aren’t alone. The good news is: you have options. The even better news? There is free money for college out there—and My College Guide will tell you just where to look!

Paying for Online College Courses? You still have options!

Public Domain Photos / Emilian Robert Vicol

Free Money For Online College Degree Program

It’s true. It doesn’t matter how old you are—as long as you plan on attending an accredited college, online or off, you can find and apply for money to help pay your way. There are three types of financial resources available. Going back to school doesn’t have to mean going into massive amounts of debt!

Grants

Grants are sort of like loans except: they don’t have to be repaid! If you are awarded a Pell grant, it’s like being handed free money just for attending your online college degree program. The easiest way to try to receive a Pell grant is to fill out the FAFSA, or Free Application for Federal Student Aid. It’s fast to fill out and can help win you a grant or help you qualify for a government or private loan. You won’t know if you qualify until you fill out the form!

College Scholarships

Yes, even adults going back to school can find, apply for, and win a college scholarship! The trick is to start applying for scholarships where you completely match the criteria. If they only award a specific scholarship to Engineering majors, don’t apply unless you are an Engineering major! Scholarships are competitive so don’t waste your time applying unless you fit the requirements.

There are college scholarships for students of all kinds. Start with our list of college scholarship websites. Use between 2-3 sites and see what you can find—you might end up surprised! From unusual college scholarships to character traits (are you left-handed?) and those specifically for adults going back to college, there are scholarships out there to match any student.Why not try and find free money to pay for your online college degree program?

Loans

When you don’t quite have enough to pay for your online college degree program in full, many students turn to loans. Of course, using the above financial aid options can help you cut down on the amount of money that you have to borrow.

Be smart with your money. Take out what you need to pay for your college classes. Don’t think of a loan as free money—you’ll be paying this one back, but nothing says that you can’t make payments on your loan before you graduate! Compare providers and see who will give you the best interest rate and always proofread the fine print before you sign on the dotted line.

Who We Are: Information you can trust. For more than 20 years, My College Guide has provided information to help students find the best college degree and career for them. Get information on any online college degree program to find the right career for you!

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Five Minute FAFSA from Fastweb

Friday, November 26th, 2010

The My College Guide Guru has seen it all — and responded! Our ever-wise and all-knowing Guru tells us that, based on your recent emails, it’s the season for Financial Aid questions! This older video from Fastweb is not only relevant and informative (it will answer many of your FAFSA questions) – it’s also fun!

Find out about the FAFSA, the free application for federal student aid, like what it is, why you should fill it out, and how to get started. You can’t receive aid if you don’t even bother to try! Don’t worry – it’s easier than ever before. You would like free money for college, wouldn’t you? Watch The Five-Minute FAFSA on YouTube or below.

Thanks to Twitter follower MichaelCCR for bringing this hilarious yet information-packed video to our attention!

Who We Are: Information you can trust. For 20 years My College Guide has produced an annual magazine chock full of free college info for high-achieving high school sophomores. Check out our participating colleges. If you’re a student, enter for a chance to win an Apple iPad or iPhone or cash!

College is a Possible Dream for Any Student

Friday, October 1st, 2010

For low income students, college might seem like an unreachable dream. The US Dept of Education hopes to change the way college is thought about to show that higher education really is for everyone. Produced for Spanish-speaking students, there are English subtitles.

If you have ever felt like college is unattainable, My College Guide has years of resources to aid you (we are twenty years old, after all!). Fill out the FAFSA and browse our list of colleges and universities for low income students. These colleges provide no loans packages (so you graduate debt-free), don’t have tuition, or offer full rides to students who fall within their income guidelines. Yes, there are Ivy League schools on  here, and yes – some of these colleges are very selective.

The bottom line, however, is not to give up. College is completely within your reach. You can start right here on My College Guide so will you have the tools to go out there and make your college dream a reality! Watch La universidad: un sueño alcanzable or College: A Possible Dream on YouTube or below.

College Tuition and Financial Aid Explained at the University of Michigan

Friday, August 13th, 2010

Financial aid is a very popular subject on My College Guide (as you can probably imagine). Hardly a day goes by where a college bound student just starting the college planning process doesn’t ask how to go about paying for college.

This video from the University of Michigan does a great job in breaking down why college tuition costs what it costs (and can be applied to many other colleges and universities around the country) – as well as pointing out potential sources that can help you pay for college!

College education isn’t cheap — that is the reason why there are financial aid outlets like the FAFSA (Free Application for Federal Student Aid) and various scholarships and other grants. Rest assured that there are plenty of ways to save money on the cost of your college tuition – and this video does touch upon a few terrific sources! Watch Tuitionomics on Youtube or below.

Colleges for Low Income Students: Free Tuition, No Loans, and Full Rides

Friday, April 16th, 2010

College, and the costs that go with it, can make higher education seem way out of reach – especially for low income students.  The good news?  There’s something better than hope – there’s loan-free financial aid packages and even tuition free colleges!  Who knew college could be so affordable?

Duncan Hall at Rice University -- Loan free tuition for low income students!

photine/Laurie

For high achieving low income students, many colleges and universities offer a no-packaged loans policy – which include grants, scholarships, and work-study programs in their financial aid packages not interest accruing loans!  Many offer free rides to college (and then some).   A few of these colleges, like the Webb Institute and Deep Springs College, don’t even have tuition!  You really can graduate debt free!

Check out our large list for a host of higher education institutions that offer free tuition or loan free tuition for students of low income families.  Click on the college or university name to be taken directly to the financial aid page that relates to that school – and get in touch with the financial aid office to see where you fit in.  College isn’t just for the wealthy – it’s for everyone.

Alice Lloyd College Rice University
Amherst College Sacred Heart University
Barclay College Saint Louis Christian College
Berea College Soka University
Bowdoin College Stanford University
Brown University Swarthmore College
Claremont McKenna College Texas A&M University
College of the Ozarks Texas Tech University
College of William and Mary University of California
Columbia University University of North Carolina Chapel Hill
Cooper Union for the Advancement of Science and Art University of Pennsylvania
Cornell University University of Texas
Curtis Institute of Music University of Virginia
Dartmouth College University of Washington
Davidson College Vanderbilt University
Deep Springs College Vassar College
Duke University Washington and Lee University
Franklin W Olin College of Engineering Washington State University
George Washington University Webb Institute
Harvard University Wellesley College
Haverford College Williams College
Lafayette College Yale University
Lehigh University The Armed Forces:
Macaulay Honors College at CUNY US Air Force Academy
Massachusetts Institute of Technology US Coast Guard Academy
Miami University of Ohio US Merchant Marine Academy
Michigan State University US Naval Academy
Princeton University West Point US Military Academy

Beyond Federal Financial Aid

Wednesday, October 7th, 2009

Daniel Y Go

When it comes paying for college, you may apply for federal financial aid. The problem may be that when you receive the award letter, it’s simply not enough to cover everything. With a college education comes the expense of covering tuition, books and room and board for a four-year period, which means the costs can really add up. If your federal financial aid is falling short of the amount of money you need to pay for your college education, you may have to turn to applying for student loans from private institutions.

Where and How to Find Student Loans

  • Bank. Your first stop for student loan information should be the bank where you or your parents have an account. Having a relationship with the bank may make it easier for you to qualify for a student loan. It may also help you to get a better interest rate, repayment terms and conditions than you would from a bank where you don’t have an existing relationship. Some lenders may also ask you to open an account with them when applying for a student loan to help with the approval process.
  • Private loans. Another source of college money is obtaining a loan from an individual, such as a family member, rather than applying for a bank student loan. In a private one-on-one situation, you can negotiate the amount, interest rate and payment arrangements with the person loaning you the money. This means you can usually get a better interest rate and more favorable repayment terms than you may get when going through a traditional student loan program. You should treat this loan as you would any other loan, making sure that the agreement is in writing and that you both sign a promissory note that details the terms of the loan.
  • Comparison Shop. Obtaining a student loan is a major financial decision. This means that you should shop and compare your various options before choosing the one that is the most beneficial to you. It’s wise to compare at least three student loan options to compare the differences. You’ll want to compare the interest rates charged, the repayment terms, the term of the loan and any other options available with the loan such as deferment and loan forgiveness. This is important because you’re not sure what the future holds for you in the way of employment and income after you graduate from college.

After you’ve found out what is available for you in financial aid from the U.S. Department of Education’s FAFSA program, you may need to cover the shortfall with other sources. Private student loans may be the way for you to pay for college expenses that are not covered by other means.