Business Federal Grants

How To Get Federal Grants School Loan

Getting student loans and grants for college is a challenge. Getting a Federal Education loan can be the key to making it financially feasible for you to get a college education.

Financial Aid is a new student loans site I have added to try to make it easier to sift through all the financial aid information so you can easily narrow down your choices.

Eligibility for federal education loans is based on financial need plus other factors. The financial aid administrator at the college you plan to attend will help you determine your eligibility.

I have included direct links to applications, calculators and websites which will provide more detailed information for each loan or grant. Think of this as a portal to school loans and grants information.

College Loans

There is no doubt the information on this site will greatly help you obtain the school loan you need.

You can apply for a student loan that doesn't require repayment to begin until after you are out of school. Still other loans require interest only payments during your schooling.

Look into any grants or assistance you may be eligible for. You're looking for a college loan, but you're also looking to get anything you are eligible for.

Private Student Loans

Private personal student loans generally offer a great deal more flexibility than federal student loans. For one thing, there is no limit to the amount you can borrow – basically, you can fund your entire education with private loans, providing you are confident in your ability to repay the loan. You can use these loans for almost any purpose that is related to your education – this includes the cost of tuition, books, fees, computers, and even rent and food.


Just keep in mind that along with the increased amount of borrowing that private personal student loans afford, you will likely have a variable rate of interest, and may require a cosigner to help you obtain the loan. If interest rates go up, you are going to be responsible for making larger payments than you may have anticipated.

And though the loan can be deferred until after graduation, interest rates will begin accruing, and added to the loan balance.

Tips and comments:

 Tips on How to get College and Student Loans 

1. Prepare for the application process by gathering your financial documents. You'll need a high school diploma and have to demonstrate financial need to qualify for help. You may also need to have a specific career goal in mind to qualify for certain grants.

 2. Access the Internet and go to fafsa.ed.gov. This is the Pell grant application which is the first step in the financial aid process. In most cases you'll need to receive the Pell grant to be eligible for other grants or scholarships.

 3. Choose a Personal Identification Number using the link in box number one. You'll need the PIN to sign digital documents and open your account in the future. Retrieve your school code from the list provided in the same section.

 4. Proceed to the second column, "Filling out a FAFSA." Start answering questions and only the ones that pertain to you will appear. Once you've answered all the questions sign the documents using the PIN you established. Submit the application for processing.

5. Inquire about the status of your application by logging in with your PIN. Click on "FAFSA Follow Up." When your benefit amount has been determined you'll receive a Student Aid Report which your college of choice will receive electronically. The Pell Grant will be applied to your school bill and any excess amount will be distributed to you according to the policy in place at your school.

 6. Apply for the TEACH (Teacher Education Assistance for College and Higher Education) if you are pursuing a teaching degree and can commit to the requirements. If you accept the grant you'll have to spend the four years after graduating teaching at a school with high needs or a school that services low-income students. Failure to comply with the terms of the agreement will result in repayment of the grant at an unsubsidized rate.

By Cryogene Clooney, published at 07/19/2011
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