| Free information about various types of loans. Information about loan budgeting and more. |
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American Government Student Loans
As an American student, you are probably eligible for Federal Student Aid. Visit www.students.gov to see your federal funding options, as well as for help budgeting, planning, and choosing how you will pay.
Federal loans often offer better interest rates than independent loans. There are many different types of Federal loans. For all federal loans, you must complete a FAFSA : a Free Application for Federal Student Aid.
There are two types of Stafford Loans, subsidized and unsubsidized. The government will pay the interest on subsidized loans while you complete your education, whereas you are responsible for the interest on an unsubsidized loan. Stafford loans offer more money if you are independent of your parents. These loans increase in value as you progress to higher years of university. These low-interest, fixed-rate loans are the most common type of student loan. These loans are available to American citizens who register for more than half-time classes.
Perkins Loans are low-interest loans (5%) that are offered to students who can demonstrate exceptional financial need. You must be an American citizen, taking more than half-time classes who is in good financial standing to qualify. These loans offer no fees and a longer grace period than the Stafford Loans.
Even if you may not be eligible for federal funding, you might be eligible for aid from you state. Visit your state's website to determine if they have a loan (or better yet, a scholarship program) that you can apply for.
Ask at your bank to find the appropriate student savings account. There are many types of education accounts that are not taxed. Take advantage of these tax breaks today!
If one of your parents has been in the military, check out the Department of Veteran Affairs . You might also consider undertaking military service to pay for your studies. Research funding your school tuition by promising future military service in the armed forces .
If the military life does not appeal to you, but you still want to work for your studies, AmeriCorps offers opportunities to receive money in exchange for one year of community service.
You can also get a bank loan as an American Student.
Check out our page on student loan consolidation to save you money.
