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Tips
for Parents
Your priority has always been your children
and now that they are entering college they have become our priority.
We are here to assist you with paying for their education.
Start Saving
It is important to start saving for your child’s education
as soon as possible. The more you save the less money you will have
to borrow. Most states offer a college education savings account
or a 529 plan. One resource is the College Savings Plan Network,
a non-profit organization at www.collegesavings.org
Scholarships
Before borrowing money, make sure you explore all of your options.
Your child may qualify for grants, work-study programs and even
scholarships. Don’t wait until senior year to have your child
apply for scholarships, there are often scholarships that are available
to children of a much younger age for their future college goals.
Free online scholarship search engines are a great place to start,
but also check with your employer, your bank, local rotary clubs
and community organizations, your church, your alma mater, your
local library, foundations, and organizations that represent your
cultural heritage, career field, or that of your parents. Also,
check with the school your child plans on attending, which sometimes
offer special scholarships for specific career fields. Some other
sites for scholarship research include:
www.azhighered.gov
www.students.gov
www.fedmoney.org
www.studentaid.ed.gov
Financial Aid
The government offers students and their families low interest loans
to help finance your child’s education under The Federal Family
Education Loan Program (FFELP) and the Federal Direct Student Loan
Program (FDSLP). If your school determines that your family has
additional financial need, Federal Perkins Loans are also available.
To apply for federal loans, you must first fill out the Free Application
for Federal Student Aid (FAFSA). Your child’s school will
then determine what type of loans you are eligible to apply for.
The FAFSA should be completed as soon after January 1st, the
year your child will begin college. For more information or to complete
a FAFSA go to www.fafsa.ed.gov
Read more about:
Federal Parent PLUS Loans
Private Loans
Stafford Loans
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