where can i find info on free student loans?
by Author on Wednesday, June 30th, 2010 | 2 Comments
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Melissa:
There is no such thing as a "free" student loan. Anything called a "loan" is something that you borrow that must eventually be repaid.
I suspect that you are asking about the availability of grants. Grants are a form of need-based financial aid that are awarded to applicants who demonstrate exceptional need. Grants are a form of financial assistance that does not need to be repaid.
When you’re looking at technical schools, you have to be careful, because not every technical school participates in the federal student aid system. Technical schools are eligible to participate, but not all schools meet the qualifications that the US Department of Education has established. The standards that the Department sets can help you identify a quality school with well-managed, effective and successful programs, so there should be a red flag in your mind if a school has "elected" not to participate.
Students attending a participating technical school are eligible to apply for all forms of federal student aid, including the grant programs. The application for all of the government’s student aid programs is the FAFSA, the Free Application for Federal Student Aid. Once you and your son complete the form, you’ll submit the information to the Department of Education, and they will compute an Expected Family Contribution score. That’s the key to your son’s financial aid eligibility, because every school’s financial aid office uses that EFC score to determine what forms of aid an applicant is qualified for.
For more info, I highly recommend this Department of Education pamphlet, called "Funding Education Beyond High School: The Guide to Federal Student Aid". You can find it here:http://studentaid.ed.gov/students/attachments/siteresources/FundingEduBeyondHighSchool_0809.pdf This brochure will answer just about any question you can think of about how to apply for financial aid.
Good luck to you – I hope this helped!
Talk to any financial counsel at any college, they could tell you whats out there for your son