As you weigh the pros and cons, keep in mind that timing is critical.
With just a few exceptions, you get only one chance to consolidate with the government loan programs.
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Landing merit scholarships usually requires exceptional performance in academics, athletics or leadership activities.
Grants, on the other hand, are need-based, so financial considerations are the primary qualifiers for receiving aid.
College comes around as high-schoolers transition into adulthood and face future career concerns, but guess what parents? In most cases, college-aged students are not financially emancipated, so parents play a large role in securing financial aid and underwriting a child’s college education.
For private school parents, tuition concerns are nothing new, so financial aid questions apply to high school and post-secondary education. Uncle Sam operates a stable of grants and loans that help ease parental concerns about college financing.
Government-backed loans provide the best interest rates, and offer the greatest flexibility for repayment.
Private loans are harder to get, because formal credit checks are required, but even bank loans provide flexible payment alternatives.
If you would like to add other eligible loans, your servicer must receive your Request to Add Loans Form within 180 days from the date your Direct Consolidation Loan is completed (originated).
If you choose Nelnet to originate and service your Direct Consolidation Loan, you may request to add other eligible loans to it by completing the Request to Add Loans Form and send it to Nelnet via email Direct Loan [email protected], fax (402.858.3929), or mail to: Nelnet P.
Discounts reduce the amount of interest you pay over the life of the loan.