April Newsletter: Stafford and Private Loan Information, plus our $10,000 ScholarshipPoints winner
We hope your spring semester is going well!
What is featured in this month’s newsletter? The Stafford Loan acceptance process, a word from our $10,000 ScholarshipPoints winner and help with answering those grad school loan questions.
How do I get my Stafford loan?
By now, most of you have received and reviewed your financial aid award packages that outlined the federal loans you are eligible for. Some students qualify for Perkins Loans and subsidized Stafford Loans, which have lower interest rates than unsubsidized loans. Learn more about interest rates.
To accept a Stafford loan, students need to contact their financial aid office. Stafford Loan funds are sent directly to the office twice per year, once each semester about halfway through. Any money that exceeds tuition and fees will be returned to the student, or the student’s account will be credited accordingly. This extra money can be used for other school-related items such as books, food, housing etc. Just remember that the loan must be paid back eventually, so if you don’t need it, don’t use it! Click here, to read more about the Stafford loan process.
Stafford Loan not enough? If you are one of those students who have not received enough funding through federal loans, consider taking out a private student loan. Private loans are a great way to cover any extra education-related expenses. Learn more about how to pay for your entire education.
March $10,000 Scholarship Winner
Paolina Engibegian was recently announced as the winner of the March 2011 $10,000 scholarship. Paolina is a sophomore at Glendale Community College in CA. She is working towards transferring to UCLA to become an Endocronologist. “This scholarship will be a great help in paying for my education,” said Paolina. “I also work part time to help pay for my educational expenses and this award will be a huge financial help to me.” Do you want to become a College Scholarship Winner just like Paolina, but are not a member yet? Click here to become a ScholarshipPoints member.
ScholarshipPoints members, login into ScholarshipPoints now and redeem the code FANAPRIL11 for 25 scholarship points.
Heading to Grad School next semester?
This year many college seniors are choosing to enroll in graduate school right after college. Academically this can be very beneficial, but financially it can be daunting. In most cases, your undergraduate student loans will be deferred until you complete grad school, if you remain enrolled at least half-time. However, you might be taking out more loans to attend. GradLoans.com offers graduate student financial aid resources and information regarding graduate Stafford Loans, Grad PLUS Loans, Private Graduate Loans and scholarships. Learn more about your options today!
Financial Aid Workshops for Upcoming Freshman
If you were recently accepted to college, keep an eye out for “accepted students day” (or weekend). Meant to organize and inform students, these events are a bountiful resource for those seeking financial aid and can be crucial to your final college choice.
Read the recent blog post on “Accepted Students Day” to find out why you should attend, the financial aid questions you need to ask, and more resources for recently accepted students.
April Featured Blog
Students and parents might be researching both Parent PLUS and private student loans, but which is right for you?
Read this recent blog post on choosing a student loan: Parent PLUS vs Private.
ScholarshipPoints.com awards $1,000 scholarship and Flip™ UltraHD video camera
The popular student scholarship reward website ScholarshipPoints.com recently announced the winners of their Scholarship Idol viral video contest. In 60 seconds or less, students were given the chance to express themselves creatively and originally in a video and upload it to the ScholarhipPoints YouTube Channel.
Read the article!
We want to hear from you
If there is a particular topic you would like us to cover, leave a comment on our suggestions page.
FinancialAidNews.com and the Financial Aid Newsletter are services of the Student Loan Network. We recommend that you always fully explore scholarships, grants and all federal student aid options to pay for your education prior to applying for a private student loan.
Image attribution: www.flickr.com/photos/daniellerose/3484484939/