Graduate Financial Aid

Now is the time when most schools are sending out their Financial Aid Award letters to students who plan on attending their school this Fall 2007. Graduate school programs are typically more expensive than undergraduate programs, so the 18,500 that you may be getting in the Stafford loan, may not be enough to cover your tuition and expenses. Or perhaps it is enough to cover your basic tuition, but you still need a loan to help you live while you are attending school. The Graduate Plus loan is a new option for students that is guaranteed by the Federal Government. What does this mean for you? It means that when you complete your education, this loan can be consolidated with your Stafford loan…this will make it much easier for you to manage your debt. It is around this time of year when you should apply for the Graduate Plus loan. If you do not know how much you need to borrow, it is wise to over-estimate when applying, because it is much easier to decrease the loan amount, then to try and increase it once school starts. Typically the loan automatically goes into an in-school deferment, but you may have to fill out a form to post pone payments. This loan does not have a 6 month grace period after graduation…but you can request a forbearance for 6 months after you leave school. For more information on this loan you can visit: Graduate Plus Loan Info

More Helpful Sites for Financial Aid Info:
Live Podcast
FAFSA Information
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