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Money For Students In College And Finding It

Carrie Westengate
 


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Are you considering higher education to improve your prospects but worried about how to fund it? Well, extra money for students in college is available, some of which does not need to be repaid, but you need to know a few basics first. The primary one being that once you have made the decision on where to go, you should apply very rapidly for any financing.

Cash is scarce these days, so don't be lulled into a false sense of security, to get money for students in college you need to be aware of what you are entitled to apply for in order to optimise your chances of success. Find out what you need to do even before you are able to apply for funding, so you are ready to move fast.

If you live in the US, you are first advised to seek out your the Financial Aid Advisor at the campus of your choice as they will be able to give you all the information you need. Thankfully today, you can apply for financial aid online for a lot of the grants and scholarships.

A brief outline of money for students in college that may be available to you include (but are not limited to), Pell grants, Supplemental Education Opportunity grants and vocational grants and scholarships such as those aimed at ex military personal, law school and medical schools.

A Pell Grant is awarded by the US Department of Education and is one of the most key sources of funding for students. A Pell Grant is based entirely on financial needs. Funding is awarded via the college and competition is fierce so you need to apply quickly. At the moment, the maximum available is just over $4000. Supplemental Education Opportunity grants are also based on need and are dispersed via institutions.

If you can't get sufficient non-returnable funding, you may consider a student loan. You need to be a US citizen and complete a Free Application for Federal Student Aid (FAFSA) application (this can be done online). The good thing about some of these loans is that there are no credit checks and you will have the option not to make any repayments until after you finish your education. Once you have completed an FAFSA application, you can then apply for different loans such as a low interest Stafford or Perkins loan. Parents can also take out loans for their children but these are repayable immediately. Such loans are referred to as Parent Loans for Undergraduate Students (PLUS loans).

The above is just touching on some of the available sources of money for students in college. Do your research while you are deciding where to go, once you know, contact the Financial Aid Advisor at your institution and apply for funding as soon as possible. Don't leave your applications in the hope there will be funding available when you get around to it; you are likely to be disappointed if you do.

For further information about money for students in college , visit www.moneyforcolleges.org .

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