Getting started with college can be a difficult task. You go through a hundred different applications and you try to find the perfect fit for you when it comes to college and you want to make sure that you go in the right direction so it opens doors for your future.
So after you have taken the ACTs or SATs and you make it into that perfect school then the bomb drops. You realize that you are going to have to financially support yourself. You think of a thousand different ways to do it.
First you start off trying to get a scholarship for good grades or extra curricular activities like sports, music, theatre, etc. For many that won't be an option or it won't be a full ride scholarship.
Also many of you work hard to look for financial backers such as family members, local community organizations, or for some service activity. These options are also hit or miss when it comes to finding the right person to financially support you.
Another step is a Pell Grant that is simply money given to you because you are in a financially low bracket. This can only work for a certain percent of people, and you have to be married and in your mid 20's or coming from a broke background.
All of these things are options that are great, but for the majority it isn't going to be possible.
There is over $150 billion dollars that were put into student loans last year and the rate continues to rise higher and higher. Nearly 2/3 of college students used a federal loan of some kind.
If you feel like you are a failure if you have to get a student loan, well don't. It is something that many great people take and it is worth the time to take a look at.
Student loans can come from government or private sources like banks or lenders. There are plenty of people looking to offer money and make sure that you find the right one that will work best for you.
Look for a loan that you don't have to worry about payments until you are graduated and try to find the lowest interest rate possible. Be patient in your search and make sure that you save money in college to take care of your student loan faster so it doesn't take 30 years for you to pay it off.
