What is financial aid? Numerous students receive financial aid. Financial aid is money that qualified students receive to pay for tuition, school fees, books, and other school-related expenses. Some financial aid has to be paid back, and some financial aid does not have to be paid back. Financial aid most commonly comes in the form of: 1) Grants 2) Scholarships and Fellowships 3) Federal and state aid (government aid) 4) Private loans
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What is consolidation? Consolidation is just what it sounds like: combining your multiple student loans into one large loan. The process of consolidation also stretches your repayment term from the standard ten years to a maximum of thirty years. You can only consolidate your loans once, unless you’ve recently taken out new loans that you’d like to bundle with your old ones. The consolidation process generally takes 30-90 days to complete. What’s the difference between consolidating federal and private loans?
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One of the key factors when deciding whether to pursue an advanced degree is the cost of a master’s degree. There are many aspects to consider, such as what type of degree do you want to pursue, potential earnings increase, and any additional costs. However, we break down your costs by subject below to help you find the perfect program for you! How Much Does a Master’s Degree Cost?
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It is best to borrow the minimum amount possible in order to reduce your overall financial obligations later. However, if you find that you need more than the school has allotted, you have the right to appeal the decision as long as you do not exceed the maximum amount as established by federal regulations.
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Money is a major issue for graduate students, and good financial habits are essential to cutting costs, managing money, and making funds last. More than a few grad students enter postgraduate education with undergraduate debt, and financial management becomes of paramount importance. The necessities
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A crucial concern facing many returning adult students is how they are going to meet their college education expenses. To begin our discussion, we must first eradicate the falsehood that financial aid is primarily for younger prospective college students. On the contrary, specific grants, loans, and scholarships, both privately and publicly funded, are continually made available to the adult learner.
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Many students are shocked to learn that there are a variety of ways to fund graduate school abroad in addition to fellowships or aid from the foreign school. Federal aid
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Congratulations! You’ve been accepted to grad school. Now comes the tricky part: PAYING FOR IT. Check out our 101 on Financing Grad School. Scholarships, Grants, and Fellowships. These terms are often used interchangeably, but there are some slight differences: Grant: Refers to any sum of money offered in exchange for an academic purpose or project. Generally, grants are awarded on the basis of financial need, but they often require a minimum level of academic performance. Scholarships:
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Finding scholarship opportunities for graduate school may be challenging. Assistantships, in which the student performs research or works as a teaching assistant in return for a small stipend, tuition remission, and other benefits, may be far more common than scholarship awards at the graduate level. Still, there may be a number of scholarship opportunities out there for those who qualify. You just have to be thorough in your search.
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Student lenders often offer incentives to make their loan products stand out from the crowd. The industry calls these "Borrower Benefits." While they can often save you lots of money over the life of a loan, you should consider them carefully to see if they will really benefit you. Here are some tips on how to consider these features of a student loan: 1. Interest rate reductions are often more valuable than principal reductions.
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1: Identify and document your goals It's important to identify and document your long-term personal, professional, and financial goals so that you can gauge your progress in achieving them. Answering the following questions can help you establish and achieve your goals. What do I want to accomplish in my career? Will I have to go back to school? Where do I want to work and live? What kind of lifestyle do I want? What hopes do I have regarding a family? When do I want to retire? How much will I need to earn to achieve my goals?
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One relief about graduate school is by now, you’re not new to financial aid. After all, you managed to get your undergraduate degree(s). But, is it déjà vu all over again? Not quite. For grad school funding, it’s time to change your game plan. There are some major differences: For one, types of aid change. For another, admissions processes change. Are you ready for both changes? Below, we’ll explore the differences while refreshing your undergraduate experiences. Graduate financial aid: A different ballgame
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The Free Application for Federal Student Aid (FAFSA) and the potential benefits of filling it out should never be far from the thoughts of students who wish to make earning a degree more affordable. Recently, however, it may be on their minds more than usual, thanks to the efforts of First Lady Michelle Obama and Secretary of Education Arne Duncan.
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How Much Should You Borrow For Graduate School? When you consider using loans to pay for your graduate education, think about how you will repay those loans. Keep in Mind: Your student loan payments should not be more each year than eight percent of your annual income. If your average student loan payment is more than this, your available cash for every day living expenses will be limited If your average student loan payment is more than this, you may have a harder time getting other kinds of loans, like one for a car or a mortgage.
The cost of going to college is constantly increasing, and many students are taking out student loans. Many of those same students may find themselves with high debt and few job options after graduation. Such a scenario can leave graduates anxious, enslaved to jobs they don’t like, and stuck with high student loan payments for 10 to 40 years post-graduation.
Read More On: Keeping Your Student Loan Debt in Check