Student Loans: what the high school parent and student needs to know !

If you are not a bit worried, you must be really rich because college is so expensive these days.

College Loans are a part of the college finance puzzle. Don't overlook them thinking you will have the money... always leave your options open.... what if you or your child have an opportunity to go abroad to study or for an internship... it is expensive but the life experience received cannot be measured in dollars..

No matter how much income your family has... you can do it !  This is the United States of America.  Education is a priority in every sector of our society today and always has been.

If you can keep it together... keep it organized and... keep your options open, the rates on loans are usually great.  Leave this option open by doing the paperwork necessary.  Sometimes local banks will give student loans, but most of the time they go through the college system.

Make an appointment where you can all be together with the school guidance counselor to get all the paperwork necessary for financial aid... there is a bunch, but nothing can get you started without doing your taxes early and getting the paperwork done that acts as a distribution point for ALL financial aid... so it has to be done by mid-February... so get in to see the counselor at the high school and get your taxes ready to be done... pronto

 Whether it is the local community college, a midsized state college, or an ivy league college, you still have to do the paperwork.  All schools have financial counselors once you get accepted to the school... they tell you what you qualify for and how much.  I refused a lot of the loans only because things were much cheaper back then... you know the 70's and you could work and go to school and not eat ramen noodles every night.

Schools also have grants and loans specific to the school, so ask around... financial aid should never be the first criteria for choosing a school, but if you have a few that you can't quite decide between, it might not hurt to look into the effeciveness of their financial counselors.

 Every student loan has a little different way you pay it back.  Most begin shortly after you graduate or leave school.  Keep all the paperwork so you know exactly what you signed up for when you agreed to take out the student loan... good luck.