Preparation And Knowledge Key For Student Financial Success According To BankingQuestions.Com

Preparing for college is about much more than class schedules and
books: often more time is spent in financial aid offices than in
tutoring sessions. According to BankingQuestions.com and its new
feature section "Off to School: Financial Survival 101," many of the
financial aid and money hassles can be avoided with careful planning
and some basic knowledge. "Costs are high, money is tight, and
mastering financial basics is essential for student survival," says
Mary Beth Guard, Executive Editor of BankingQuestions.com. To help
students and parents make the most of their money, BankingQuestions.com
offers the following tips.

Know Your Financial Aid Options

A variety of options exist to help students and parents finance
college. Ultimately, parents need to help their students assess which
options are the most cost effective overall, taking into account not
just the interest rate but the repayment options, the origination fees,
and the potential for loan forgiveness. The first step in determining
which financial aid options may be the most cost effective is to
understand the variety of options available to the student.

Although the school’s financial aid office offers an award letter
explaining which loans or grants a student qualifies for, parents and
students may need to look beyond the award letter from the school to
determine the number of financial aid options available to them. Many
scholarships, grants, and loan options exist to help finance a
student’s education. For a more thorough discussion of the FAFSA and
the cost of education, check out http://www.bankingquestions.com/studentloans/q_costofattendance.html.

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