Student Loan Consolidation Assistance

Campus-Based Aid

Despite the widespread availability of private loans, the best answer to meeting tuition and living expenses for higher education still comes from the federal government programs. There are three in particular that are handled at individual campuses, and may be just what you need to get that degree. Not all campuses will offer each of the three programs, but they are likely to have at least one of the options. Be sure to check your school in particular by inquiring at the financial aid advisor’s office.

The first program to explore that is based on campus is the Federal Supplemental Educational Opportunity Grant program, or FSEOG. This program targets undergrads that provide evidence of extreme financial need. These are determined by the information submitted on a FAFSA, and are just like the Pell Grants that are awarded; they do not need to be paid back.

The FSEOG can award you anywhere from $100 to $4000 a year, and the amount is determined not only by your specific need, but also the amount of money the school has to give, the date you apply, and the individual campus policies. If you qualify, the money is credited directly to your account in most cases. There are schools that will disburse the money to the individual student, but be sure to determine what your school plans to do. The payments will be made at least once each term, so the number of payments will vary based on the learning plan for your school.

Federal Work Study or FWS is the second kind of program that is coordinated on campus. It is a way to provide students with part-time jobs that are related to what they are planning to earn their degree to do. It also gives them a chance to earn money towards tuition and higher education expenses. Generally, the pay will be hourly for undergrads, and they will conform to the federal minimum wage requirement. It could be higher, depending on the position you are filling. The total income you make, however, is limited to the agreed upon Financial Work Study award. The employer will take into consideration your school schedule when making a work schedule.

Many work-study program positions will be located on-campus. Some could be located off-campus, and will generally be with a non-profit company. An extremely limited number of opportunities will be with private employers, but the restrictions are extreme, and the position must relate to your degree as much as possible. Even then, there are further restrictions on the actual position you can hold over the course of your education.

Finally, Federal Perkins Loans are awarded on a campus basis. It is an extremely low-interest loan that is extended to those who demonstrate excessive financial need, and usually directly through the financial aid office. The Perkins Loan is repaid directly to the school rather than a loan servicing company. The limit to a Perkins Loan is $4000 per year for undergrads, and up to $20,000 for the entire course of your college career. There are no application fees, nor any origination fees, so these are certainly the best way to go when funding education at a higher education institute. It will be repaid after you have been out of school for 9 months, and will be paid in amounts that are calculated to be manageable when the lender (the school) has all of your current income obligations.

All told, a federal education program is best in the long term. The ease of quick private student loans will not likely end up as beneficial as it would be to take the time to go through the process for federal funding. Saving money any way possible is the most beneficial!

One of the biggest concerns of all the students’ families is the future their own professional career will hold for them according to the type of school they were enrolled into. For parents of private school students, future can seem bright and beautiful, tainted only by life itself in the form of decision-making the student him or herself have made.

Marriage is a common circumstance for students to drop out all together as is the sudden decision of leaving school for a sabbatical or deciding that they are studying the wrong career. These decisions render parents awake most of the night during all the time the child is enrolled and studying.

Overall, there are several issues to be considered before any parent can say that private schooling for their children will guarantee a brighter professional future. Their chosen profession as well as the assertiveness the child shows as early as their sophomore years will give good guidelines as to whereas the student will become a successful professional or not.

Of course, this is the awake “nightmare” that haunts the parents of private school students, but those parents who have children on public schools do not escape the same fate. Since public schools have been chastised by some as low level educational institutions, parents often find themselves wondering if after all the studies done by their children will they be able to find a decent job.

This is not necessarily the case, however, it is blatantly evident to some skeptics that even the parents of the federal education student believe that this might be a low grade education. The key point is that private school parents hope for high-level jobs while public school parents hope for decent jobs (in some cases). Public schools are improving many say; search a list of public schools.

The perception that the student makes of his or her studies begins at home. If their families keep believing that they are getting a sub-level education, naturally, they will tend to look for low-headed jobs and sometimes end up with low-graded lives. Ambition can be a positive thing if it is guided properly.

Therefore, public school students can achieve a successful professional life just as a private school student. They both hold the same choices and are subject to the same life-happenings that might change the way they take their education or force them altogether to drop out. The only difference between them is the way they and their families perceive their own education and future.

Article by: Max Templeton