Graduate Financial Aid

Even though I never transferred colleges, I have heard that the financial aid process makes this no easy task. Students that are going to switch schools at a semester break cannot take their financial aid package to the new school. This is confusing because you assume that since you were awarded, say, $5,500, you can take whatever you didnt use in semester 1 to your new school for semester 2. Sadly, this isn’t the case. However, there is a good reason why - your school awards you money based on your EFC (expected family contribution) that is determined once you fill out a FAFSA (Free Application for Federal Student Aid). Your award is also based on your school, how much they award to other needy students, the cost of attendance, etc. So, just because you were awarded $5,500 at one school for an academic year, you might be able to get $18,500 at a school that has a higher cost of education. The flip side is also true - your award might be less at a different school.

Upon switching schools, fill out a new FAFSA form - the information you are submitting might be identical to a previous semester but it has to be sent to your new school. Give it time, though. You’ll need to get your SAR (student aid report) in the mail AND get the award letter from your school. THEN you should apply for a StaffordLoan - applying for a Stafford Loan before you were awarded the funds doesn’t speed up the process.

Once you stop attending your old school, your loans from that school will go into your 6-month grace period, then into repayment. To avoid paying while still in school, you can defer paying on these loans until you graduate from your new school. Contact your lender for information!

We all know how stressful and expensive the holidays can be - between travelling and buying gifts, your bank account might be tapped. For those in school, it’s even worse - I remember needing to buy poster boards, binders, and stuff like that for final presentations and feeling like that was about to break the bank! So…check out the GradLoans.com Private Loan - use it for those last minute educational expenses (like fees, books, presentation materials, a new computer to replace the one that’s running too slow, etc.)

You don’t need the school to certify it and you can borrow as little as $1,500 - payment waits until you graduate!

Don’t stress about those expenses you weren’t planning on - there is a simple solution!

Graduate school is a common and, often times, necessary next step in advancing your education. What do you do with the loans for undergraduate school while you are enrolled in your graduate program? Most will just defer the loans until dropping graduate school is up. While this certainly is a good idea - there is a better one - CONSOLIDATE!
So, this means that all your undergraduate loans will be rolled into one account, one payment, one bank (lender) and you even get benefits for paying on time and setting up auto debit.
Take advantage of payment reduction of up to 60% and no payments while you are enrolled in graduate school!

I have a lot of friends who are sort of in that limbo status….they got their undergraduate degree a few years ago, and they feel stuck in their current job. In order to move on to better things they need more education. I am always hearing concern about whether graduate school is affordable or not. How will I live and go to school at the same time? This is where the private graduate school loan can help. This loan is unique because it is geared towards graduate students, so it meets all of your needs. It can be used to cover tuition, or just living expenses, or both. There are different types of these loans, and some of them do not have any origination fees. What I suggest to my friends is to figure out how much you will need to borrow, and then work out a budget, so that you know you will be able to afford the monthly payment on those loans once you are finished with the graduate program.