Transitioning to college is an exciting time for both parents and students. At the same time, the thought of paying for college can be stressful. It requires careful planning to come up with the right combination of scholarships, grants, federal student aid and private loans to cover all of the expenses. Take the stress out of paying for college by following these easy steps:
File the FAFSA®
One of the most common ways to pay for higher education is through federal aid. Filing the FAFSA (Free Application for Federal Student Aid) determines how much financial assistance a student can receive through federal loans and work-study programs. Colleges, states and the federal government also use information from the FAFSA to award student grants which do not need to be repaid. It's important to complete the FAFSA as early as possible to maximize your financial aid opportunities.
Look for scholarships
Next, research merit and need-based scholarships available from your college, community, local companies or state programs. There are many online resources that make it easy to search for scholarship opportunities and apply with just a few clicks.
Fill the funding gap with private student loans
The cost of college usually includes more than just tuition fees. Families must also factor in added expenses for books, housing, food, technology fees, travel and much more. And even with scholarships and financial aid, there are often extra expenses to cover. Fill the funding gap with money-saving options from Wright-Patt Credit Union. Our Student Loan has low interest rates, flexible repayment terms and no pre-payment penalties. It's the smartest way to make college more affordable!
Don't wait until the first tuition bill arrives to think about paying for college – now is the perfect time to borrow smarter with a Student Loan from Wright-Patt Credit Union! Stop by a Member Center near you to get started today.