| Are you excited about attending college? Most of us | | | | There is only one type of student loan that will never |
| are when it is time to become an undergraduate. | | | | require a co- signer. These are the government |
| Unfortunately there are some real concerns we must | | | | student loans. FAFSA awards student loans for a |
| consider as we enter a university. We have to decide | | | | certain amount each semester to students. They do |
| if we will declare a major and if so what that major will | | | | not base their application process on your credit |
| be. We also have to find a financing for our education. | | | | history. Instead they examine the amount of money |
| Many families in the USA do not have the funds for a | | | | your parents may be able to give you towards your |
| full four years of college. | | | | education. They will also look at your degree program, |
| We work on obtaining scholarships, government grants, | | | | your grades, and the tuition. |
| and student loans to pay for the degree. Scholarships | | | | Government loans can get a little sticky when it comes |
| generally do not provide a full ride, and government | | | | to what your parents may be able to contribute. They |
| grants or loans usually cover a small amount of our | | | | look at your parents' income and decide that your |
| expenses. For all other expenses during college we | | | | parents should be able to afford a certain amount |
| have to seek private student loans. | | | | whether this is completely true or not. It may seem |
| There are two ways to obtain student loans. You may | | | | negative to say that, but realize that with a |
| have a co- signer or no co- signer. It is more difficult to | | | | government student loan with no co- signer you are |
| be awarded a student loan without a co- signer. Most | | | | getting the lowest interest rate on any student loan. So |
| students entering college as an undergraduate do not | | | | they do help a great deal. |
| have a credit history. They are too young to have a | | | | Government loans are generally Stafford Loans. They |
| mortgage, credit card history, etc. In this case private | | | | can come from several different banks in the USA. It |
| loans require a co- signer. As a graduate you will have | | | | just depends on the amount you need, whether you |
| an easier time finding student loans that do not need a | | | | have had loans before, and who has the money to |
| co- signer. | | | | award the loan. |