The first thing you need to do for Financial Aid is complete the FAFSA (Free Application For Federal Aid). You can do this one of two ways:
1. Pick up an application in the Counseling Office (available after October 1st)
2. Go online to: http://www.fafsa.ed.gov
Your FAFSA must be received at the college/university of your choice by the deadline it has set. If you are not having your taxes done before the deadline, don’t panic. Complete the FAFSA in an estimated format and as soon as your taxes are complete, submit a correction to your FAFSA.
It is crucial that schools receive your FAFSA by their deadline. If they do not, most schools will award minimal aid; if any at all.
EVERYONE SHOULD HAVE THE OPPORTUNITY
|TO GO TO COLLEGE|
|The following sites offer you all the tools to successfully navigate the course to the college of your choice. Check out the free information on these web sites to learn more about grants, loans, and scholarships:|
THE PARENT PLUS LOAN
Parents of dependent undergraduate students attending an eligible college, university, or trade school may take out a PLUS loan to fund their child’s entire cost of attendance; minus any other financial aid. Parents with satisfactory credit may qualify for a PLUS loan, regardless of their income level or financial assets. PLUS loan proceeds may be used to pay all authorized education expenses. PLUS loans are offered by both the federal government and private lenders. Check with the college your child will be attending to see what they offer for PLUS Loans or check out the websites below.
What are the repayment options for the PLUS loans?
The lender will arrange a repayment schedule. You have up to 10 years to repay your loan and you must pay at least $50 a month. Repayment of principal and interest begins 60 days after the loan is fully disbursed. Parents can opt to let the interest capitalize until the student leaves school. However, any interest that accrues from the date of disbursement is added to the outstanding loan balance through a process called capitalization.