A Better Way to Pay for College
Sometimes financial aid and scholarships just aren't enough. A Student Choice Loan is a great way to fill the gap. Before applying for a Student Choice loan, it’s a good idea to have the following steps completed first:
- Fill out your FASFA – the Free Application for Federal Student Aid should always be filled out as early as possible, but it’s not too late to get yours finished. Even if you think you won’t qualify, fill out the FASFA because most grants and federal loans will require a completed application on file. In most cases, financial aid is given on a first-come first-served basis. Applying early means you’ll have the best shot at the most financial aid possible. Even if you’re a little late this time, plan to apply as early as January 1for next year. For more information visit: www.fafsa.ed.gov
- Apply for scholarships and grants first – Look for “free money” first. High school counselors and college financial aid offices are great resources for information about scholarships and grants.
- Apply for federal loans – After applying for scholarships and grants, get your federal student loans (Perkins and Stafford) which are typically the least expensive and safest loan option. Federal loans should be considered before applying for alternative funding.
- Evaluate alternative loan options – Most students will need additional funding, so after you’ve exhausted federal loan options consider a private loan such as our Cinfed Credit Union Student Choice Loan.
It’s important to compare loan details to make sure you’re getting the best deal on your student loan. Interest Rates, Fees and Repayment – Interest rates and fees vary greatly between lenders. Look for a loan with zero origination or prepayment fees, low interest rates and flexible repayment options like our Cinfed Credit Union Student Choice loan.
For more information and to apply for a Cinfed Student Choice Loan visit: http://cinfed.studentchoice.org/