We know how exciting going off to college can be, but paying for it now that’s another story. College tuition continues to rise and what started out as excitement may turn into stress and panic. This is not the way to start off college and definitely not a way to look forward to the future.
There are thousands of college students paying much more for college than they have to, and that’s because they don’t apply for financial aid or take advantage of scholarships to defray their college expenses. Let’s look at some ways in which you can find low interest money for college and make going to college exciting once again.
Four different types of Student Loan
1. Grants and Scholarships – Grants and scholarships usually come from the federal government or the state, whereas scholarships can come from private outside sources or your college.
2. Education loans – education loans come from two places:
- Government loans that have low-interest rates
- Private loans, which are more expensive
3. Education tax benefits – You can save money on your income taxes by simply claiming your out-of-pocket costs for college expenses.
4. Work-study funds – Work-study helps you to work on campus and in return you get help with paying for school.
How to find money for college?
FAFSA
First you want to start by filling out the Free Application for Federal Student Aid form (FAFSA). The information you put on this form will help to determine the amount of award you qualify for. This is usually based on your financial need. However, even if you think you may not qualify, still fill out the form.
Apply for scholarships
Scholarships are a wonderful way to help pay for college or even to help cut the cost of having to pay for college on your own. There are a variety of scholarships that you can apply for online. Started by financial aid expert Mark Kantrowicz, FinAid and FastWeb are two online sites that will match you with a scholarship and even tell you how to apply for it. All you have to do is fill out the required information.
Even though some of the scholarships are small, they are still worth applying for. The best thing to do is to apply for a variety of awards, and the smaller the award the less competitive they are and easier to obtain.
Beware of scam artists – Don’t fall for it!
There are always scammers waiting to prey on the innocent and desperate. Don’t be one of their victims. As Kantrowitz said “You should never invest more than a postage stamp to find out information on a scholarship or apply for scholarships. And if you have to pay money to get money, it’s probably a scam.”
That’s good advice to live by. Now it’s time for you to go in search of the college money that has your name on it. And during your quest should you obtain other helpful tips on how to find low interest money for college we’d love to hear them.








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