Student loans are the right option for financing your higher education, because with this type of loan you may get the delay of payment until you graduate for 6 months. There are many types of student loan offered. Partially guaranteed by the government and some are not. After previous you know about how to apply for a student loan with ease, below are some things you should do to get a student loan guaranteed by the government:
1. Fill in the form Free Application for Federal Student Aid (FAFSA)
It is necessary to qualify the federal grants and government-backed student loans. You can do this by visiting the website http://www.fafsa.ed.gov.
2. Learn your Expected Family Contribution (EFC)
When you're done fill out FAFSA, you need to learn your Expected Family Contribution (EFC). EPC is used to determine whether you are eligible to receive a Federal Pell Grant or not. For example, if your EPC is $0, you may receive the maximum grant amount. You do not need to return the grant, but the grant has a maximum value that can be given to you for each year. May this amount can not pay the entire cost of your education, but at least it will help ease the burden of the cost of your education and you certainly will pay less when you've graduated.
3. Subsidized Stafford loans or unsubsidized Stafford loan
if in the end you are not eligible to grant or if the grant is not enough to pay for your education, then you can receive a loan in which the government will pay all interest incurred up to 6 months after you graduate named subsidized Stafford loan or if you do not eligible for this type then you could receive unsubsidized Stafford loan.
4. Funding through the above options have limited properties depending on whether you are a dependent or independent student and how long you have school.
5. If you use this option then your school will use the money to finance your next class, books, and other necessary equipment purchased from the school. All fees will reduce your total amount. The grant money will be used first and then loan money.
6. Any remainder of the total amount will be sent to you via check within a few weeks to several months.
If you also need extra money for living expenses for a year, you might consider to apply another student loan as an alternative. There are many types of student loans that you can choose according to your needs. You can find anything about it with very easy and simple way, just type the word "student loan" on the internet, you will get the information you need. In addition, the scholarship is also an appropriate choice, of course, this option would require additional financial information and or decent credit record or cosigner.
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