Work Study
Work study opportunities are awarded based on
need and provide federal funding in exchange
for work. Most offices on campus have openings,
so it should be easy for students to find a job in
an area that interests them. Students receive a
paycheck to help with tuition and occasionally
have time to study at work.
After you are accepted to a college, you’ll
receive an award letter detailing what kind
of financial aid you can receive. Remember,
this includes grants, work study and student
loans. The letter should explain how to accept
and decline funds from your school. Follow
the steps and don’t be pressured into taking on
debt.
If you’ve already accepted loans, don’t panic!
You’ve got 120 days from the start of the fall
semester to cancel your federal loan without
being charged interest or fees. Of course it’s best
to cancel the loan now, before you’ve actually
got a check in hand.
We hope it’s a little clearer now—and
a little less stressful. This process takes
time, but the payoff is so worth it. Your
child will graduate without the weight of
student loan debt. And that’s something
71% of today’s graduates can’t say.
Fall 2016
Loans are not free money. Taking out a student
loan means going into debt, with repayment
typically beginning just six months after a student graduates or stops attending college. That’s
right—some students pay for a degree without
the benefit of actually having one.
There are two main types of loans a student will
be offered: subsidized and unsubsidized. On subsidized loans, the government pays the interest
while a student is in school. On unsubsidized
loans, the interest accrues and is included in the
cost when repayment begins.
Award Lett