In order to receive financial aids, you must be a United States citizen, have a valid Social Security Number, have a high school diploma, and be enrolled in an eligible program. Also, you must maintain satisfactory academic progress, not owe a refund on a federal student grant, register with the Selective Service, and do not have a conviction for the possession of illegal drugs for an offense that occurred while you were receiving federal student aid.
2. How long do I have to pay off my student loan?
For most student loans, you have a six month grace period, meaning that you won't have to start making payments until six months after you graduate. Furthermore, the grace period is meant to give you a chance to find a job and begin earning an income before you’re swamped with bills. There are varieties of tips to help you to prepare for student loan payment. Like such, create a budget built around your student loans, prioritize paying off student loans, communicate with your loan servicer, set up automatic payments to avoid late fees and be able to know the exact date when you expect to pay off the loan give yourself a target ahead of that to shoot for it.
The second question ! Ive been so worried about the future and the money involved, I really like that question.
ReplyDeleteThe second question is exactly what I've been worried about the most. I've heard so many things about paying student loans for 20+ years after college but that in a way it's worth it. I'm glad this question was asked.
ReplyDeleteI am going to take a loan out for college and I was scared that I'd be homeless before I could get a job. I hope that the loan will be worth it and I can get a good job one day in the future.
ReplyDeleteBefore knowing what financial aid was, I originally thought that I would have to take so many loans out to pay for college, but I did not realize that financial aid helps with paying a portion of college.
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