Paying For College Checklist
When you receive a financial aid award letter, use SimpleTuition's checklist to help you make the best use of your time as you line up funding.
Paying for College Checklist:
- Review and Evaluate Your Financial Aid Award - As soon as you receive your financial aid award letter, review the terms and assessment of your financial situation. If you see any mistakes, call immediately to get them fixed.
- Exhaust all Free Money First - Apply to as many scholarships and grants as you can -- every dollar you don't borrow will save you significantly when it comes time to repay your loans.
- Determine How Much You'll Need to Borrow -- Use the College Cost Adjuster to figure out exactly how much you need to borrow. Update the cost of attendance and financial aid on the interactive form to balance family vs. student borrowing college expenses.
- Apply to Federal Student Loans First - Federal loans carry low, fixed interest rates, so if you need to borrow, always start with federal loans.
- Compare Private Student Loans - Comparing private loans is the best way to find the right loan for you, so do your homework and keep a co-signer handy.
- Complete the Promissory Notes Early -- Do it soon -- you don't want to be scrambling for funding weeks or days before the semester starts.
Comments