Consolidation FAQ

1. Federal consolidation vs. private consolidation – What’s the difference?
2. When should I consolidate my student loans?
3. What types of student loans can be consolidated?
4. Can I re-consolidate a federal consolidation loan?
5. When should I consolidate into more than one federal loan?
6. Can I “re-consolidate” my current consolidation loans?
7. What are the repayment options for consolidation loans?

Financial Aid FAQs

1. Should I apply for financial aid?
2. What is a credit report?
3. Savings or student loans: does it pay to save for college?
4. Financial aid award letters
5. What are the different types of student loans for undergraduate students?
6. When do I need to fill out the FAFSA? Is there a deadline?
7. How long does it take for the FAFSA application to be processed?
8. What makes a person ineligible to receive FAFSA monies?
9. Financial aid myths
10. When do I have to begin repaying a Stafford Loan?
11. If I won’t get need-based financial aid, do I have to file the FAFSA?
12. Do I have to wait until I get accepted to a college before filing the FAFSA and/or PROFILE?
13. When should I file the financial aid forms?
14. Do I have to apply for financial aid every year?
15. Is it better to file electronically or by regular mail?
16. Where do I get the FAFSA/PROFILE forms?
17. Why do some colleges require the PROFILE if they already have the FAFSA?
18. If the college asks for financial data on their application for admission, do I still have to complete the PROFILE?
19. How can I complete a financial aid form if my taxes aren’t done?
20. I am divorced; do I have to enter my former spouse’s financial data on the financial aid forms?
21. I am divorced, but I have remarried. Does my current spouse’s financial information have to be entered on financial aid forms?
22. What happens if the FAFSA only has space for a few colleges and I applied to 14?
23. What happens if my family owns a business or farm?
24. What if the current year’s income is going to be different from the one (last year’s income) I reported on the financial aid forms?
25. Do I have to accept student loans and work study in my financial aid award?
26. Are there financial aid implications if I stay on the admissions “wait list”?
27. If I get a private scholarship, will it affect my financial aid?
28. What if my parents refuse to pay for college? Can I apply as an independent student?
29. What if I have a “messy” financial situation; should I make colleges aware if it?
30. Colleges don’t know how expensive it is to live here. If I claim high costs of living created by where I live, will the college take that into consideration?
31. As a family of immigrants, what if I do not have the proper documentation for eligibility for federal financial aid?
32. Is financial need an admissions factor?
33. I just received something from IDOC. What is it?
34. If I need money to pay college costs not covered by financial aid, what can I do?
35. If the parents are divorced, who should serve as the custodial parent?
36. What is the cost of attendance (COA)?
37. Who qualifies for Income-Based Repayment?
38. What types of student loans are included in an Income-Based Repayment plan?
39. How does the Income-Based Repayment Plan change student loan payments?
40. Do borrowers still have to pay interest on student loans with the Income-Based Repayment Plan?
41. What are qualifying payments for the Income-Based Repayment Plan?
42. What are the disadvantages of participating in the Income-Based Repayment Plan?
43. How do I get started with the Income-Based Repayment Plan?
44. What is a 529 Plan?
45. What is a Coverdell ESA?
46. With so many different college options, how do I choose the right type of school for me?
47. How many colleges should I apply to?
48. When should I start looking at schools?
49. What college costs should I consider outside of the COA?
50. How do I find scholarships?
51. Who is eligible for scholarships?
52. When is a good time to look for scholarships?
53. My financial aid package went down after my freshman year, even though my family’s finances didn’t change. What happened?
54. I’m not sure I will be able to return to college in the fall, as my family’s finances have changed drastically. What can I do to stay in school?
55. How can I budget my personal expenses in college?
56. Should a college student have a credit card?

GradPLUS Loans FAQs

1. How do I choose the right student loan for me?
2. How does the loan application process work?
3. What are the different types of student loans for graduate or professional program students?
4. Are there any special loans for my graduate program?
5. Why is a federal student loan better than a private student loan?
6. How much can I borrow in federal student loans?
7. Should I choose GradPLUS or a private loan?
8. I’m in a certificate or continuing education program, not a graduate program. Can I use a GradPLUS loan?
9. How do private loans compare to GradPLUS loans?
10. Do I need to complete the FAFSA to apply for a GradPLUS loan?
11. How much can I borrow using GradPLUS?
12. Is there a credit check for GradPLUS loans?
13. What is a GradPLUS loan endorser?
14. Are there fees on GradPLUS loans?
15. When does interest begin to accrue on my GradPLUS loan and when is interest capitalized?
16. When do I have to begin repaying a GradPLUS loan?
17. What are my repayment options for GradPLUS loans?

Parent PLUS Loans FAQs

1. How do I choose the right student loan for me?
2. Can legal guardians take out Parent PLUS or private loans?
3. What’s a Parent PLUS loan?
4. Do I have to file the FAFSA before I apply for a PLUS loan?
5. Why is a federal student loan better than a private student loan?
6. How much can I borrow in federal student loans?
7. Am I eligible to borrow a PLUS loan?
8. Are there fees on PLUS loans?
9. Who gets the funds on a PLUS loan?
10. When do I have to begin repaying my PLUS loan?
11. When does interest begin to accrue on my PLUS loan and when is interest capitalized?
12. What is a PLUS Loan?

Private Loans FAQs

1. What is a student loan co-signer?
2. How do I choose the right student loan for me?
3. What information do I need to apply for a loan?
4. How does the loan application process work?
5. I haven’t heard from the lender I selected. What happened?
6. What are the different types of student loans for undergraduate students?
7. How do I tell the difference between student loans?
8. I’m only in school part-time. Can I get a student loan?
9. Do I need a co-signer for a student loan?
10. How do I apply for a student loan?
11. What are the different types of student loans available for my child?
12. Can legal guardians take out Parent PLUS or private loans?
13. What types of private loans are available for parent borrowers?
14. What does it mean to co-sign on a student loan for my child?
15. What is a private student loan?
16. Do I have to file the FAFSA before I apply for a private education loan?
17. How does the private student loan application process work?
18. Why should I use a co-signer for a private student loan?
19. Is there a credit check for private student loans?
20. Will the money from the private loan be sent to the school or to me?
21. I don’t have a co-signer. What do I do?
22. Will applying for a student loan hurt my credit score?
23. What is a private student loan?
24. How do I know if I need a private loan?
25. Do I have to file the FAFSA before I apply for a private education loan?
26. How does the private student loan application process work?
27. Why should I use a co-signer for a private student loan?
28. Is there a credit check for private student loans?
29. What information do I need to apply for a loan?
30. Will the money from the private loan be sent to the school or to me?
31. What are borrower rewards?
32. How much can I save with borrower rewards?
33. Am I eligible for any borrower rewards?
34. What should I know about borrower rewards?

Stafford Loan FAQs

1. How do I choose the right student loan for me?
2. What are the different types of student loans for undergraduate students?
3. Why is a federal student loan better than a private student loan?
4. How much can I borrow in federal student loans?
5. When do I have to begin repaying a Stafford Loan?
6. When do I have to begin repaying a Stafford Loan?

Student Loan FAQs

1. How does the loan application process work?
2. What are the different types of student loans for undergraduate students?
3. I’m only in school part-time. Can I get a student loan?
4. Do I need a co-signer for a student loan?
5. What are the different types of student loans available for my child?
6. Can legal guardians take out Parent PLUS or private loans?
7. Student Loan Blogs and Discussion Forums