Monday, March 30, 2009

Excellent financial tips for your child’s education

Is your child ready for college and you are wondering how it would be possible to foot for his educational expenses in such grim scenario. You don’t need to lose hope as here are some great education finances tips which will ensure that your child is not deprived of studying in some of the best colleges.

Check out some of the educational financial tips for your child:

Federal Supplemental Educational Opportunity Grants or FSEOGs

Meant for undergraduates this grant is available depending on how much funding a particular school receives. The grant amount ranges between $100 and $4,000.

Pell Grants

Awarded to graduates depending on family and need base the maximum amount granted during 2007-08 was $4,310.

Federal Work Study Program

Under this program award is granted in exchange for work where the work schedule is 12 to 15 hours during the week with government or non profit agencies. You are awarded as per minimum wage.

Stafford Loans

Students eligible under this scheme are able to borrow money at favorable interest rates with flexible loan repayment option. Loans are subsided depending on the financial need.

PLUS or Parents Loans for Undergraduate Students

Parents can get this loan in case they pass the credit check but the loan amount is limited to the actual cost of attendance minus any other financial aid received.

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