Students primarily use two forms of funding to pay for college: loans and scholarships. 奖学金 are money given to a student based on specific characteristics, 比如学术或运动能力. 奖学金是不需要偿还的. Loans are money borrowed by a student or the student's parents. Loan money has to be paid 回来 once a student graduates or leaves college. If loans are part of your college affordability plan, it is prudent to choose those with the lowest interest rate. Talk to the Office of Student 财务规划 for assistance determining what loan is best for your particular situation.
Other forms of aid that do not need to be paid 回来 include grants (such as the Opportunity Grant) and, 针对州内学生, KEES钱. Students might be eligible for this aid based on factors like their high school grades or overall financial need. It is important to file a FAFSA as soon as it opens each year in order to receive as much free money as possible, 尤其是在州政府拨款可能用完的情况下.
QUICK TIPS FOR TAKING OUT LOANS: ENTRANCE COUNSELING AND MASTER PROMISSORY NOTES
When students request a loan, they need to complete a process called entrance counseling. Students also need to sign a master promissory note for their loans. 财务规划 cannot add loans to a student's bill to help them pay for college until the student has taken these steps. 要完成此过程，请访问 www.studentaid.政府. 您将需要您的FSA用户ID和密码, which is the same information that you use to file your FAFSA, 为了完成这个过程.
If a parent decides to take out a 家长 Plus loan and help their child pay for college, 父母也必须去拜访 www.studentaid.政府 申请这笔贷款. They will also need their FSA user ID and password to complete the credit 检查 process. If the parent is approved, they will need to complete a master promissory note as well. If the parent is declined, the student will qualify for other unsubsidized loans in their own name.