paying for college

Free money available for college or trade school

• grants

• scholarships

• work- study programs

• loans

This loan requires a credit check and is usually offered at a higher interest rate

• Direct subsidized loan

• Direct unsubsidized loan

• PLUS loan

• private loan

The government pays your interest while you are in school - you are responsible for loan and interest when you finish.

• Direct subsidized loan

• Direct unsubsidized loan

• PLUS loan

• private loan

You are required to begin repayment on any federal loan within 6 months of leaving school, even if you dropout

• True

• False

Rule of thumb for student loans:

• Loan for 1 year should be less then your 1st year salary

• Total debt should be less than 1st year salary

• Loan for 1 year should be equal to 1st year salary

• Total debt should be 2x that of 1st year salary

You need to fill out the FAFSA to be eligible for grants, loans, and some scholarships.

• True

• False