III. Upon the receipt of your SAR, you have to check for possible errors or incorrect information written.

If there are errors, you may correct them through online at FAFSA Web Corrections, write down certain corrections and mail it on the given mailing address, or contact the financial assistance office of the school you plan to be admitted in.

IV. In accepting reward letters received from different schools you had applied, you must take into consideration the best option wherein you’ll benefit more.

Try to:

• Evaluate the breakdown

- Find the CoA (Cost of Attendance). The itemized list of amounts of tuition fees, board and lodging, and miscellaneous are reflected in here. The EFC and the student support amount must be equal with the CoA so that you’ll not need additional resources of income to attend college.

• Ask Questions

- asking some questions to yourself would give you enough reasons to accept the award package or not, like;

1. Do you have to maintain a specific grade?
2. Does the package shield the similar expenses each year?
3. What would happen to your loan if you receive a scholarship grant?
4. What is the interest rate of your loan?

• Make a choice

- After comparing the pros and cons of each award letters, you’re already down to the next step which is choosing the option you’ll benefit most.

There are two kinds of Educational Loans

A. Government Student Loans

The university or college institution you wish to enroll at might be involved on either FFELP (Federal Family Education Loan Program) or FDLP (Federal Direct Loan Program). In FFELP, private lenders are the ones who offer loan funds. While in FDLP, the funds will come from the national government.

<< Previous    1  [2]  3    Next >>