High school senior looking for Student Loans and Grants?
November 6, 2010 by admin
Filed under Student loans
I’m at a loss and my school counselor isn’t much help. I got into my dream school, (florida international u) but I’m trying to figure out my finances. I submitted my FAFSA and now I have to find loans and grants. Can anyone help?
Thank You!
Well applying for FAFSA should give you the following loans and grants:
For grants,
PELL Grant – If your EFC is less than 4000, you get his one (4k – 5k, I think)
CAL Grant – If you live in Cali. I’m not sure about Florida.
For loans,
Federal Stafford Loan (Subsidized) – The gov’t pays the interest for this one.
Federal Stafford Unsubsidized – You pay the 6. 8% interest
Federal Perkins Loan – 5% interest
You’ll see how much money you get from each of these when your school sends you the financial award letter.
You can also apply for scholarships.
Fastweb is a good scholarship search engine.
There are two sources for student loans — the federal government and private lenders. In order to obtain most federal student loans, you will first need to file the Free Application for Federal Student Aid (FAFSA). A college student loan is a sum of money available to full time students, with a minimum level of interest required during the period in which they are registered as full time students. These types of loans rarely cover the entirecost of education, and most applicants refer to other financial aid options in order to meet their needs. In most instances the FAFSA is required for all federal financial aid including federal student loans. Deferment options are available while you are still attending school at least half-time. There are four main federal loan programs.