Always start out with the Free Application for Student Aid, known as FAFSA.
Once your application is processed, you will know what federal assistance programs, grants, and loans you qualify for, and how much will have to be through private lending agencies.
Truthfully, the financial aid process is the most important step you will take in the college application process.
More than $130 billion is awarded each year to college-bound students.
The federal government discharged more than $43 million in student loan debt for former students of recently closed for-profit colleges.
Students who attended programs operated by Education Corporation of America, Dream Center Education Holdings, Vatterott College and Charlotte School of Law will be able to qualify for a full discharge of their federal loans if they were enrolled when their college closed or withdrew within 120 days of the official closure date and didn’t transfer to another institution, according to Inside Higher Education.
Federal aid comes in the form of federal grant programs, federal student loans and federal work-study programs.
Federal Aid is subject to change based on government funding policies.
From 529 Plans - offering tax savings over taxable accounts - to Coverdell Accounts - optimal for families looking to invest 00 or less per year - every parent should be able to find a savings plan that meets their needs.
Have a reference point when looking for savings plans.