The parent’s role on the students’ quest for loan assistance
Part 5

It is important that the parents and the student consider seeking a loan education loan or aid as well as an additional student loan, whether it is private or alternative.

Make a list of the possibilities and then go through it twice, let each member of the family analyze to their full knowledge the pros and cons of seeking financial assistance on that particular source, whether it is loan, private, or alternative. It does not matter if their statements are done in knowledge or in hearsay; the important thing is to rank them in possibility and preference with all the members of the family.

• ASK

Once the list has been done and ranked in accordance to all the members of the family, then the parents and the student should conduct a search to gather all the necessary information that will provide them the elements to conduct a second filter.

In this search, the following issues should be addressed, though this is not to be considered a rule, just a guidance where families should place, add or cross out things that they deem that are not that necessary for them to make a decision.

 Do they offer economical assistance to the students?

Some companies are aware that the financial assistance that they can provide the students is tax deductible and therefore, they are willing to provide sponsorship to those students who are assertive enough to ask. However, there are other companies that knowing that this help is tax deductible are not that eager to get “hands on” therefore, they choose to assist students through private or alternative companies. Finally, there are those who choose to assist the loan education funds.

Therefore, there are companies that will answer with a categorical “no” and give no further explanation. Naturally, there are those companies that are unaware that this can be done. It is important for the student and the family to check if the local legislation in their state provides or prohibits such activities.

If there is no legislation to the point, then there is no harm done in asking. Asking should be done to the company’s CEO, he or she will, then turn the question to the accountant but the possibility will be latent on the CEO’s mind.