Whether the economy is up and thriving or on a downward low, many families and individuals are uncertain about having financial security for higher education. Unless a person is fortunate to have great wealth, it is best to plan the finances ahead of time before attending college. Alexander Djerassi, a leader in this industry, recommends checking out os.com for financial assistance. By planning the finances ahead of time, it may prevent the financial burden that one may endure by not being prepared. This allows a person to know the amount of funds they will need to pay for the education, allowance for books and materials needed for each class. Also, if one desires to stay on campus, they must consider the cost of food and other expenses for living in a dormitory or an apartment.
A lot of people get very discouraged when thinking about how much it would cost to attend college. However, what they fail to realize is that there are many options today to obtain the financing that they need; regardless, if one has no income, low income, or a higher income. Once, one knows the preferred education facility they would like to attend, the first thing is to find out the cost of the education. They can contact a Financial Counselor at the facility to inquire about the cost and financing programs that they have and what they require. For high school students, they can contact the school Counselor to see if they can help them with information of obtaining financing for scholarships, grants, or loans.
The next step is to apply for FAFSA, (Free Application for Federal Student Aid). This alone may have a lot of financial aid options; depending on income status one may be eligible for Pell Grants that they do not have to pay back. Another option is for parents who have school aged children or just starting out; if possible, it would be best to start saving now for their children’s higher education. Even working high school students can start a savings to prepare, too. One way is through the 529 College Savings Plan, which allows families and individuals to grow their savings and it is tax free. The money can only be used for educational expenses. Also, one can contact local businesses or non-profit organizations to see if they have any scholarship programs, or special grant money they issue for submitted essays.
Some people tend to go to the first bank they come across to inquire for a loan. Before accepting any loan offers, one should always shop around, to see which bank or loan company has the best interest rate and payment options for the loan. If the Financial Counselor is researching for the loan, one should inquire of them to provide them with different loan options. So, if someone is interested in continuing a higher education and want less financial stress, why not explore as many options as possible. For it is better to stay ahead of the game, than to struggle later, according to Alexander Djerassi.