Beware of Student Loan and Scholarship Scams!

Anyone can become a victim to a scam.

I have been asked by several people "How do I spot a scam before it is too late".

That's what started me thinking I needed to get an article written I could share with you that would give you some clues as to what to look for and what to stay away from.

Beware of Loans and Scholarship Scams

Best Wishes,
Alicia

529 Plans

I have read many questions from parents reguarding 529 Plans. I decided to write this article to give you some basic information on the 529 plan and how it will affect your chances of receiving other types of student financial aid.

You can read the article here:
529 Plans:_Saving_For_Your_Childs_Education

Please feel free to leave any comments!

Subsidized or Unsubsidized: What's the Difference?

Here is a quick overview:

A Subsidized Federal Stafford Loan: a loan for any undergraduate or graduate who has a need. The government will pay your interest up to 6 months after you graduate. You must be attending school at least half time.

An Unsubsidized Federal Stafford Loan: a loan for any undergraduate or graduate that does not have a need. The individual will have to pay interest on the loan from the day of conception. You may have the option of deferring the payments until you have graduated or left school. Keep in mind you will owe all of that interest.

Before You file for a Student Loan: See if You're eligible for FAFSA

FAFSA is short for Free Application for Federal Student Aid.

Visit their online website HERE to get more information.

Here you can learn what the eligibility requirements are and what is available to you. You will also be able to take a free walkthrough and tutorial of the program. This site will also help you avoid common mistakes plus give you many other important financial tips you may need when considering financing college.

You can even file directly from the site so if you haven't been there yet I suggest you head over and get started.

Student Loan Information

As my college career came to an end, I was left with plenty of loans. They were not as high as most, but enough that I am still paying on them 10 years later.

I hope this information on Student Loans will help you make the best choices. Make sure you research all options to see how you can reduce the amount you will owe as much as possible. Don't be afraid to call around and ask questions.

This is a big decision. I would also advise you don't make any loan decisions without first talking it over with a family member or trusted friend.

Best Wishes,
Alicia Bodine