Monthly archive May, 2008
Some companies, such as Verizon (Check out www.pnnonline.org.), offer scholarships that are very substantial and accessable to students and dependants of those who work for them. A student’s employer, and/or that of their parents, can be an excellent source of extra college funding. They can also be one of the most overlooked sources. As with all scholarships, the requirements and restrictions can vary widely. While looking for ways to pay for school, be sure to find out what your employer(s) may have to offer. Also, as a potential employee, it’s always a good idea to consider scholarship and tuition assistance benefits seriously, along with insurance, salary, and others. They may turn out to make a big difference in your future prosperity, as well as that of your family.
There is still plenty of debate in the news right now about how the current credit troubles will affect those of us with student debt. Most of us though, students and grads alike, are already starting to feel the pinch. This is causing many people to seek out and create new ways to fund higher education. Check out this article from Business Week. It may have you rethinking your approach to private student loans.
As you get closer to graduation, student loan repayment is likely one of the many things beginning to weigh on your mind. Happily, with most all student loans, you still have time to plan. Loans borrowed through the federal FFEL or direct Stafford programs allow the borrower a six month grace period after graduation before repayment begins. Other loans such as a Federal Perkins loan, or an alternative loan you may have received outside of any federal or state program, may have different lengths of time for which they are deferred after graduation. It’s best to speak to your lender or financial aid adviser to get all the details on these. The grace periods allowed to student borrowers after graduation allow you to take some time to secure your income, and put your after-college financial life in order. Rather than continuing to put repayment on the back burner, this is also an opportunity for you to make sure you will be able to make those payments when they come due.