08.02.07 | Time Machine
How many times have you uttered these nine words to yourself, “If I only knew then what I know now.” If you’re south of the legal drinking age, probably not often, but as father time marches on you gain new perspective.
I can tell you unequivocally that I wanted to hop into a Delorean, hit 88 mph, and go back in time to save me from myself on several occasions. I would have saved myself thousands on student loan repayments. Actually, who am I kidding, I would have placed a few choice wages on sporting events while I was back in time and became wealthy enough to pay my way thru school, but I digress on my fantasy adventures. My aim today is to have you eliminate those aforementioned nine words from your vocabulary as it pertains to student loans.
So let’s pump those 1.21 gigiwats of electricity thru the flux capacitor and get you where you need to go. Just follow my 6 easy steps below and you can’t go wrong.
- Complete your Free Application for Federal Student Aid (FAFSA) (this application is sent to the Department of Education). Please note, if you do not have a pin number you will need to request one at www.pin.ed.gov
- You will receive a Student Aid Report (SAR) which will be sent to both you and the school(s) you list on your FAFSA (up to six schools max) within 5-7 business days.
- The school will send you an Awards letter outlining the financial aid you are qualified to receive. Financial aid which includes grants, scholarships, and federal loans.
- If you qualify for a Stafford Loan you will need to find a lender to fund your loan. You can go to http://www.staffordloan.com/ and one will be assigned for you. We make it easy!
- If you are a dependent student who needs additional funds for school you may have your parent apply for a parent plus loan. If they get accepted for the loan that would obviously be great, but if they get declined for any reason you will be qualified for additional
- If you do not qualify for a
So now that you’re back from the future, what is your game plan? Will you travel down the road of uncertainty like so many others before you? Will you navigate the course I have outlined? Regardless of choice one thing is certain, “Roads, where you’re going you don’t need roads.”
I agree with this blog….I wish that when I was 17 and deciding on a school, that I had taken into consideration the cost of each school (more than I did)…instead of just the school itself (location, atmosphere etc). Often times, prospective students do not take into considereation what will happen if they cannot afford to pay their student loans back. It can affect so many aspects of the students financial future.
August 6th, 2007 | #
My problem was that financial aid departments hand out loans like they are candy giving someone like me 6 different loans with 2 lenders and a lot of vocabulary that i have never even heard of. Now, Im stuck paying all these crazy loans and I feel like Im giving them money that is so late now, it wont even lower my balance.
August 8th, 2007 | #