how to file csulb financial aid

Student loans. Many institutions, both public and private, provide low-interest loans to students and their parents or guardians. The Federal Government also provides csulb financial aid several types of student loans based on the applicant’s level of financial need. The amount of money a student can receive in loans varies by the distributing institution and depends on whether the student is claimed by a parent or guardian as a dependent. Since the process of applying for a loan may take several months, csulb financial aid it is a good idea to start applying for Federal student loans well in advance.

The available Federal loan programs can accommodate csulb financial aid prospective undergraduate, graduate, vocational, and disabled students. Federal loans can be distributed through the school that the student is attending, from the Federal Government directly, or from a third-party private lender or bank. Perkins loans are distributed through the school the student is attending. Loans coming from the Federal Government directly from the William D. Ford Federal Direct Loan Program are dispersed by the Department of Education. Third-party loans through a private lender or bank are from the Federal Family Education Loan (FFEL) program. For all federally funded loans, payments are made to the institution that originally dispersed the funds.

For those with financial need, Federal Perkins loans and both Direct and FFEL-subsidized Stafford loans are available. Perkins loans have no minimum amount; they are capped at $5,500 per year for undergraduates. Students should visit the Department of Education’s Web site to learn ab csulb financial aid out the current level of aid available because it will vary by year and a student’s status (married, single, dependent, or independent). Subsidized Stafford loans vary in size and can increase as a student completes more years of undergraduate, graduate, or professional education. Interest rates for both loans will be gradually decreasing until 2012. Information on specific interest rates is available through the school’s fina csulb financial aid ncial aid officer or the Department of Education’s Web site. Individuals who receive Perkins loans are not responsible for starting to repay the loan until they have been out of school for 9 months. Those with subsidized Stafford loans must begin payments within 6 to 9 months of leaving school but are not charged mon csulb financial aid thly interest while in school.

For those who do not demonstrate financial need, Direct and FFEL-unsu csulb financial aid bsidized Stafford Loans and Federal Parent Loans for Students (PLUS) are available. Unsubsidized Stafford loans vary in value and are capped at the cost of attendance. With Federal unsubsidized Stafford Lo csulb financial aid ans, interest payments start almost immediately and can be paid monthly or accrued until the completion of studies. The latter option results in a larger total loan cost but may be more convenient for some students. csulb financial aid With PLUS loans, the parent must pay interest and principal payments while the student is enrolled in school and must continue payments after completion. Check with your lender for available repayment schedules. Students usually have 10 years to repay Perkins loans and from 10 to 30 years for unsubsidized Stafford lo csulb financial aid ans.

csulb financial aid A scholarship is a sum of money donated to a student to help pay for his or her education or training and any associated costs. Scholarships can range from small amounts up to the full cost of schooling. Th csulb financial aid ey are based on financial need, academic merit, athletic ability, or a wide variety of other criteria set by the organizations that provide the scholarships. Frequently, students must meet minimum academic requirements csulb financial aid to be considered for a scholarship. Other qualifying requirements—such as intended major field of study, heritage, or group membership—may be added by the organization providing the scholarship.

Scholarships are provided by a wide variety of institutions, including educational institutions, State and local governments, csulb financial aid private associations, social groups, and individuals. There are no federally awarded scholarships based on academic merit. Most large scholarships are awarded to students by the institution they plan to attend. Students who h csulb financial aid ave received State scholarships and plan to attend a school in another State should check with their State to see if the scholarship can be transferred.

Information on scholarships is typically available from csulb financial aid high school guidance counselors and local libraries. Additional scholarship information is available from State higher education agencies. A list of these agencies is available at: The College Board has csulb financial aid information on available scholarships at: