Research, Research, Research!

Make use of the holidays to research as much as possible about student loans. Get your hands on all the student loan 101 that you can. Study about the various different types of student loans and understand terms like subsidized, unsubsidized, federal and private loan, etc. Student loan FAQs on our site are an excellent resource to start with. Also visit community listings and your high school counseling offices to get to know more about the options that are available.

Fill out the FAFSA form

This one tops the list of New Year’s resolutions as this is the most time specific and its date of acceptance starts January 1. FAFSA stands for Free Application for Federal Student Aid. If you want financial aid then you need to fill out the FAFSA. Visit the website, get a hang of all the documents that are needed and organize them in one place.

Calculate the Amount of Money You Need

It is important to be absolutely clear about the amount of financial aid you will need to fund your college education. Finaid and other student finance websites have great calculators where you can calculate the amount of money you need along with the interest rate.

Look For Scholarships and Grants

Can you believe a huge amount of scholarship money goes waste every year because students actually failed to apply for it? Save out on the amount of student loan you need to borrow by applying for scholarships and grants. It helps if you are nerdy; even if you aren’t there are many options and many different types of scholarships out there. Scour newspapers and websites to get to know more.

Be Thrifty, Be Wise

Borrow books from seniors, don’t make impulsive purchases, don’t build your credit card debt and choose a college near home. If there is one motto every college going and college bound student should adopt, its, “Be frugal!”

Remember the earlier you start the better it is for you.

Happy New Year!

South Carolina Student Financial Aid Assistance

South Carolina Federal Student Loans provide financial aid programs to help college bound students reach their educational goals. They administer loan programs in the state providing professional help to;

• Financial aid administrators,
• Guidance counselors
• Others that assist student

Specific South Carolina Student Loans

Two South Carolina student loans that are particular to the state are the private PAL (Palmetto Assistance Loan) and a state funded loan for students that plan to become teachers called the South Carolina Teachers Loans. Most students use the PAL to fill in the gaps where other financial aid has fallen short.

Filing For Student Loans in South Carolina

It is best that students file for these loans right after they file their FAFSA. To ensure that if a student is eligible for the loans they must check with their college financial aid office.

South Carolina Teachers Loans

Those applying for the SCTL (South Carolina Teachers Loans) need to apply quickly for the coming school year in late January or early February. These funds are limited by the state of South Carolina for every fiscal year. The loan application must be completed and filled out;

• By the student,
• By the college’s school of education
• And the college’s financial aid office.

South Carolina Student Loan

South Carolina Student Loan can process the application when they receive it from the student’s college or university financial aid office. However, they will not be able approve the loan until they find out from the state of South Carolina the amount of money that is available for the coming school year. Usually this is known by the late spring of the upcoming school year.

South Carolina Federal Student Loans Helps

Of course, there are many other ways to finance a college or university education from outside of the state of South Carolina. These methods are known and can be explored when a person signs up for FAFSA. South Carolina Federal Student Loans are there to help with the financial burden of college education.

Getting an early start on your financial aid application is a sure way to get the maximum amount of financial assistance possible. If you wait till the very last minute to submit your financial aid application, you may miss the application deadline and the amount of aid you receive. So get an early start by applying for financial help such as grants and scholarships.

Here are 7 simple steps to beating the shortage of college financial aid.

1. Fill out the FAFSA (Free Application for Federal Student Aid) and submit as soon as possible.

2. Apply for scholarships early because scholarships are awarded on first come, first serve basis.

3. Instead of attending the college of your dreams, attend one that offers you more financial assistance. Some colleges may offer a more generous financial package than others.

4. Focus on getting good grades to qualify for scholarships.

5. Cut back on college expenses whenever possible so that you won’t need to borrow too much. Instead of staying in a dorm, you can live at home, choose a less expensive college or university, and take online classes instead of commuting to campus, and so on.

6. Have a back-up plan just in case there is a shortage of scholarships or financial aid available. Use savings to help offset college expenses instead of taking out loans.

The Advantage of Applying Early for Financial Aid

If you are in need of financial assistance and you apply early, you will receive a decision and notification of financial aid soon after your have completed and submitted the application. However, applying late does not mean that you will not qualify for any financial aid. By submitting you application late, you might miss out on the amount of aid you receive because the college’s resources may be limited by then.

Taking the 6 simple steps to beating the shortage of college financial aid can improve your chances of getting the money you need to pay for your college education. You are much likely to get more financial assistance and spend less on college when you take the necessary steps to increase your chances of getting the help you need.

The New FAFSA

The FAFSA form is now much easier to complete and file by applicants. The new form for 2011-12 has fewer questions and an easy and simple online filing process. It has been reported that in the past, there have been a few scams associated with third-party assistance providers. However, these new features will make it simpler and more feasible for student to do it themselves without any third-party assistance.

Changes Made to the FAFSA

Here are some enhanced features on the new FAFSA to ease the filing process:

• The new FAFSA has fewer questions and students can skip questions that do not apply.
• Easy- to-find color coded sections for students and parents.
• Instant estimate on Pell Grant and loan eligibility.
• Links to graduation rates and other information.
• Available this summer, students and families applying for aid will be able to electronically import tax information directly from the IRS website into their online FAFSA

There are also more changes to come as Congress is considering a proposal to remove other financial questions from the form so that families applying for aid could use only the financial data from their tax returns.

FAFSA Electronic Filing

To file electronically, a PIN (Personal Identification Number) must be obtained. Both the student and the parent must sign electronically when using their Federal Student Aid Personal Identification Numbers (PIN). If the tax information for 2010 is not available, students can give a rough estimate which will be verified later. It is important to file as soon as possible because aid is awarded on a first-come, first-serve basis.

Applying for the PLUS and Stafford Loan

Also starting this year, students who wish to apply for the PLUS loan or unsubsidized Stafford loan will also need to fill out the FAFSA. Even if students think that they will not qualify for the FAFSA, they still need to apply in order to be considered for the PLUS or Stafford loan.

NEW FAFSA Helps Students and Families

The New FAFSA was shortened to help college students and families complete and file the form faster and with less hassle. Hopefully this simplified new form will facilitate students get the help they needed for college education.

The best student loans are those offered through the federal student loan system. However, it must be understood that the government itself does not give out money. Previously, the government relied on other institutions such as Sallie Mae to issue these loans with federal backing. However, with the large volume of students now seeking student loans, the government has widened its reach and allowed other reputable financial institutions to come to the table to offer government backed student loans.

Wells Fargo is one of those leading financial institutions that provide both parents and student with quality services to meet all their fee needs.

What does Wells Fargo have to offer students?

Wells Fargo has added its professional touch to the student loan business that has helped it rise to prominence in the financial world. They offer both students and parents with a one stop shop where they can get everything done pertaining to their student loans. There services range from student loan counseling, information on saving for college, student loan payments and student loan repayment management.

Wells Fargo is a proud participant of the federal student loan payment system and offers PLUS loans to parents as well. Irrespective of your level of education, there is a student loan at Wells Fargo to suit your need. Some of these loans include Federal Stafford, Wells Fargo K-12, Wells Fargo education connection, general graduate studies, health care/medical and law school/bar exam loans.

How to get a Wells Fargo Student Loan

1. Fill out the FAFSA form: As a partner of the federal student loans program, Wells Fargo will always recommends students exhaust all possible loans available under the federal student loan program before attempting to seek a private loan. Therefore, students must fill out and submit their FAFSA form to determine if they qualify for federal student loans.

2. Know how much you qualify for: This is a report that analyzes all your financial resources pertaining to your education. It includes subsidized and unsubsidized loans, school grants, work-study programs and how much your parents are expected to contribute to your education. This will give you an idea if you will need addition funding from institution outside of the federal system.

3. Choosing Wells Fargo as you lender: Once the financial aid package confirmation is received, you must then pick a reputable financial institution that is a part of the federal student loan program. Wells Fargo provides student with a professional environment and easy processing procedures to complete your student loan application. Students can easily fill out an application online on get a Wells Fargo application form from their college.

4. Getting your student loan from Wells Fargo: Finally, students can expect their application to be expedited and begin their transition into college life.