Student Loans For College

How Can I Pay For College?

You’ve decided that you’re going to school, perhaps an online school, but you still need student loans for college. What are you going to do? Let us help you find a way.

Financing your online degree program and other related expenses—through scholarships, student loans, grants, tax credits and deductions, work-study, and other programs and benefits—is an important topic to understand so that you can take advantage of the opportunities out there to help you succeed!

Don’t worry, you don’t need an online business degree to get the best student loans for college – all you need is a little patience, dedication, and a resource like Online-Degree.com.

There are many strategies to help make your online college tuition payments and associated expenses more manageable.  These include:

• Federal and State Grants and Scholarships
• Federal Student Loans
• Tax Credits
• Military Benefits
• Private Student Loans

Do you want to find out how to pay for college? Click here to request specific information about student loans and grants.

Explore the information below to learn more about options regarding student loans for college that may be available to you.

Federal and State Grants and Scholarships

There are thousands of student loans and grants available for college tuition, books and other expenses.  Typical grants and scholarships include business grants, women’s grants, personal grants, housing grants, college grants, minority grants, private grants, medical grants, and others.  Typically grants do not have to be repaid.

One of the most popular student loans for college is the Pell Grant.  The Pell Grant is an educational grant provided by the U.S. Government, and is based on need determined by a formula used by the U.S. Department of Education. To get a Pell grant you must complete the FAFSA (Free Application for Federal Student Aid) form.

According to the U.S. Department of Education website (as of May 2011):

• A Federal Pell Grant, unlike a loan, does not have to be repaid.
• The maximum Pell grant for the 2010-11 award year is $5,550.
• The amount depends on your financial need, costs to attend school, status as a full-time or part-time student, and plans to attend school for a full academic year or less.

There may be scholarships, student loans, and grants for college available from the state in which you live to help you pay for your online degree.  Check for opportunities on your state’s website for more information.

Federal Student Loans

Student loans for college, like the U.S. Government’s Stafford Loans, are low interest loans provided to eligible students who need help covering the costs of their online degree program. Students borrow money directly from the U.S. Department of Education.  The most popular is the Direct Stafford Loan.

There are two types of Direct Stafford Loans—direct subsidized loans and direct unsubsidized loans.

• With direct subsidized student loans for college, if you demonstrate financial need, you are not charged interest on the loan while you are in school at least half-time and during specified grace and deferment periods.
• With direct unsubsidized student loans for college, you are not required to demonstrate financial need, and the interest on the loan accrues from the time the loan is first paid out.  You have the choice to pay the interest while you are in school and during grace periods and deferment or forbearance, or you can allow it to accrue (if you choose to let it accrue this will increase the total amount you have to repay).

Make the application for the Pell Grant and the Stafford Loan your first priority as you seek assistance paying for your online degree.

Tax Credits for Students

The U.S. Government offers education tax credits to help offset the costs of your education. Two popular tax credits are:

• The American Opportunity Credit
• The Lifetime Learning Credit

Military Benefits for Students

If you, your spouse, or your parent, served or serve in the United States armed forces you may qualify for assistance to pay for your education and your student loans for college.

The following benefits are available to you if you have served:

• Post-9/11 GI Bill
• Montgomery G.I. Bill – Active Duty (Chapter 30)
• Montgomery G.I. Bill – Selected Reserve (Chapter 1606)
• Reserve Educational Assistance Program (Chapter 1607)
• Veterans Education Assistance Program
• Survivor’s and Dependent’s Educational Assistance Program (Chapter 35
• Tuition Assistance “Top Up” (Chapter 30)
• Work Study Program
• Entrepreneurship Training

Private Student Loans For College

It is recommended that you seek a private student loan only after other alternative funding (at the very minimum Pell Grants and Stafford Loans) has been exhausted and/or the cost of your education and related expenses exceeds the amount of money you were granted or able to borrow.

A private student loan is similar to loan you might receive when you purchase a car or borrow money for other sizable purchases.  Private student loans for college are granted by a bank or lender to you as long as you prove to be creditworthy (for example, a credit check or loan co-signer may be required).  This kind of loan is a contract between you and the lender—you are responsible for paying back the loan.

Student loans for college are more attainable than ever before! Click here to discover how student loans and grants can help propel your education.

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