The first thing that both parents and students should do to determine if they are eligible for financial aid is to fill out the FAFSA. You can read about financial aid and the FAFSA here:

http://www.studentfinancedomain.com/financial_aid/financial_aid.aspx

If parents qualify for financial aid, then they can get a parent PLUS loan. You can read about it here:

http://www.studentfinancedomain.com/student_loans/federal_plus_loans.aspx

Student are also eligible for student loans. If a parent wants their child to be independent, then the best types of loan to get is a Federal Perkins Loan. These have low interest rates and the government will help you pay it back as long as you stay enrolled in school. You also don’t need a cosigner or good credit for it. For more info go here:

http://www.studentfinancedomain.com/student_loans/perkins_student_loans.aspx

The next best loan to get is a Subsidized Stafford Loan. This has many of the same benefits as a Perkins Loan. Learn more here:

http://www.studentfinancedomain.com/student_loans/subsidized_stafford_loan.aspx

Parents should also educate their students about grants and scholarships, which are free sources of money that help pay for tuition, and they don’t have to be paid back like student loans. You can read about them here:

http://www.studentfinancedomain.com/financial_aid/college_scholarship.aspx

And here are some good sites that offer grants and scholarships:

FedMoney.org Home

http://www.freegovmoney.net/

http://www.grants.gov/

http://www.findtuition.com/scholarships/

http://apps.collegeboard.com/cbsearch_ss/welcome.jsp

http://www.educationplanner.com/education_planner/paying_article.asp?sponsor=2859&articleName=Grants_and_Scholarships

http://www.studentawards.com/

http://www.college-scholarships.com/

And finally, here are some good sites that offer advice to parents about educating their chidren about money:

http://www.studentfinancedomain.com/money_management.aspx

http://life.familyeducation.com/money-management/money-and-kids/48116.html

http://www.pmdlive.com/Article.cfm?ID=4088

http://www.mint.com/blog/finance-core/six-steps-to-teaching-your-children-better-money-skills/

Good luck!

The first step in the financial aid process is the FAFSA. This is the Federal Application for Student Aid. It is free to fill out. This will tell him how much money their family is going to be expected to contribute to college out of pocket. That is called the EFC. The cost of attendance minus the EFC equals the financial need. This information is sent to the school and they will offer the student their financial aid package, this could include scholarships, grants, work-study, or loans.

Government loans do not require a credit check. Grants are free money. Scholarships are also free money. Work-study is a program in which students work and 25% of their income is given to the school to help pay expenses.

The best thing a child can do for their student is to save. Every little bit will help. Also they need to make sure they have decent grades. This can help is getting scholarships and grants.

One thing the parents and students should understand is the important connection between highschool curriculum, performance and financial aid. There are need based aid programs available to students based on income. But there are also programs available to students based on need AND performance. The ACG requires students to graduate from highschool with a rigorous curriculum AND be Pell eligible to get it. Some of the states’ scholarships/grants are also tied to ACT/SAT performance, gpa and need. Contact your state’s education office for more information about the eligibility requirements for their scholarships/grants. The previous responder gave a good resource. Here’s more www.ifap.ed.gov and www.fsa.ed.gov. You’ll be able to order resources for your students and parents.

Good luck…you’ve chosen a very rewarding career.

Sign up on the TRiO Listserv, you will be able to post questions and receive answers from professionals all over the country who do the same thing you do.

(Sorry it’s not really an answer, more of a resource)

Good Luck.

I found interesting information about your answer, college loans for parents, scholarships, college grants & partime works here. http://all-student-loan-consolidation.blogspot.com/2007/07/college-loan-consolidation.html Good luck!

It’s bad

Thx for the answers everyone xx