| Do you have a child who will be graduating | | | | student who is not only gets top grades, but |
| high school in the next couple of years? or | | | | also is involved in sports and community |
| even next year? Then now is time for you and | | | | service, the number of college scholarships |
| your college bound student to start thinking | | | | available is astounding and your student |
| about how to pay for college if you haven't | | | | should take advantage of everyone possible |
| thought about it already. With the rising | | | | available. Free college scholarship searches |
| cost of college tuition, the sooner you start | | | | are available to assist in finding the |
| planning how you will pay for college, the | | | | appropriate college scholarship. |
| less worries you might have when it is | | | | |
| finally time to actually make those tuition | | | | Student Loans for Parents |
| payments. | | | | |
| | | | Another less advantageous method of paying |
| Pell Grants | | | | for college is to take our a student loan for |
| | | | parents. These are called PLUS loans and |
| Pell grants are the first type of aid you | | | | allow parents to borrow the entire cost of an |
| will apply for. This simply requires that you | | | | undergraduate education including tuition, |
| fill out the Free Application for Federal | | | | room and board, supplies, lab fees and any |
| Student Aid (FAFSA). This is usually the | | | | other costs not covered by any other aid in |
| first step in applying for student loans and | | | | the form of scholarships and grants the |
| no one should avoid it. Once the application | | | | student may qualify for. Additionally, these |
| is sent in, it is evaluated and if you | | | | loans do not require collateral as a home |
| qualify for a Pell grant, you will get the | | | | equity loan would. So you don't have to worry |
| full amount of what you qualify for. You need | | | | about putting up the house to pay for |
| to do nothing further but supply the names of | | | | college. Lastly, PLUS loans can be |
| the schools your student will be applying for | | | | consolidated under a variety of repayment |
| or has gotten into. | | | | plans with a fixed interest rate for the life |
| | | | of the loan, and low monthly payments. |
| Scholarships | | | | |
| | | | Student Loans |
| There are several ways to pay for college. | | | | |
| The first and most advantageous is to pay for | | | | Student loans are similar to the PLUS loans |
| college with scholarships. College | | | | with the exception that they are given to the |
| scholarships are not only about academics. | | | | student and not the parent. The interest |
| Students can qualify for a multitude of | | | | rates are usually a little lower than the |
| college scholarships for a variety of | | | | PLUS loans, but the responsibility of |
| reasons. Academics is one of the most | | | | repayment lies with the student and not the |
| obvious. A good student with top grades will | | | | parent. The benefit of student loans over |
| generally qualify for many scholarships that | | | | PLUS loans, is that some of the loan is |
| are based on the student's GPA or class | | | | subsidized, which means interest does not |
| standing. Other qualifications are primarily | | | | accrue until the student drops below half |
| based on what the student actually does | | | | time or finishes school. It is also |
| outside of school. If they participate in | | | | guaranteed that the student will qualify for |
| community service work, there are many | | | | a student loan. |
| scholarships available because this type of | | | | |
| work shows a strong commitment to community | | | | So if you haven't started searching for ways |
| involvement. This hold the same for | | | | to pay for college, I recommend that you do |
| membership in a social group. Sports | | | | immediately. In the long run, your early |
| involvement is another that may qualify a | | | | start to looking for ways to pay for college, |
| student for a scholarship. If you have a | | | | will reduce your overall costs. |