Loan Shark

When I left school for medical leave last spring there was one big downside, besides the obvious fact of being a trimester behind in classes, but also all of my loans started into their deferment period.

Show Me The Money
When I signed up for classes this fall most of my loan companies put my loans back on deferment, with the exception of one.I am working with them now to get the issue resolved but it made me think that of all the posts that have been written on ‘The Dish’, to my knowledge there haven’t been much talk about financing your college tuition.

You CAN Go to That School
I have heard so many people say that they cannot go to the school that they want because it is too expensive.While I can certainly understand that you might be limited from a Ivy League school for your Ph.D where the cost of tuition is more than some homes, but you can go to any school you want.The first thing you need to do is go and file your FAFSA application.If you haven’t heard of FAFSA before, it is the federal program to help you obtain scholarships and federal loans.Once you have filed your FAFSA your school will inform you of what scholarships, awards, and federal loans you have received.Trust me, even if you don’t think you will get anything you should apply…you might be surprised!

Scholarships and Loans
If after that you still need assistance, there are countless numbers of scholarships to apply to.Try Fastweb for a quick and easy way to filter through thousands of scholarships and grants that you could apply to.The next step from there is to get a college loan.Most major banks offer college loans at a great rate but also ask your school for a list of companies that supply student loans to your school.Another thing about college loans that most students don’t know is that you can borrow more than just the cost of your tuition to help you with books, extra fees, and even living costs.

IBR
So, now you’re thinking; but what about after college?Don’t stress out just yet!There is a program called Income Based Repayment or IBR, that can help you reduce the monthly payment or even defer all payments.Another option is to consolidate you private loans, this can help to reduce your interest rate and even your monthly payment.If emergencies happen in your life, like losing your job or serious illness; most loan companies offer forbearances for a temporary time.

Don’t Give Up
Just remember that there are always ways to make any of your dreams happen, and that starts by attending college.Just because you think that college that you would love to attend is too expensive for you, doesn’t mean you can’t make it happen.