For many, paying for college can be a challenge. However, there are many types of loans, grants and scholarships available to students on a college and federal level.
Free Application for Federal Student Aid
Students must apply for a FAFSA before applying for any type of federal college financial aid. Many states and colleges also use FAFSA for determining aid.
- 2017-18 FAFSA Deadlines: There are college, state and federal deadlines for FAFSA, and all are at different times spanning two years. Students are encouraged to apply as early as possible to have the greatest chance of receiving a loan because they are awarded on a first-come, first-served basis.
- College deadline: Varies according to college
- Federal deadline: June 30, 2018. Although the federal aid deadline for the 2017-18 year is not until June 2018, students are encouraged to submit applications as early in the school year as possible.
Loan forgiveness Program
The Public Service Loan Forgiveness Program forgives the remaining loan balance after a graduate makes 120 qualifying monthly payments while working full-time for a qualifying employer.
How do I calculate what I will owe on student loans?
Online calculators can be used to calculate loan balance using a student’s loan amount, interest rate and income. The U.S. Department of Education’s Office of Student Aid offers one such calculator.
