You are required to fill out and submit an online FAFSA to be considered to receive federal aid in Louisiana. Once you submit the FAFSA, you'll be considered for grants, work study programs, and federal student loans. The Department of Education sets the eligibility guidelines for Louisiana student loans. The federal government takes into consideration factors including living expenses, assets, income, and the number of family members when determing your financial need. Call our friendly associates to find out more.
In Louisiana and other areas of the United States, a Stafford loan is a government subisidized loan for undergraduate and graduate students. Stafford loans are affordable because they have low interest rates that are fixed. For example, graduate students can secure interest rates as low as 6.8 percent. Undergraduate students can take advantage of interest rates between 3.4 and 5.6 percent. Unlike non federal student loans in Louisiana, a Stafford loan does not require collateral, credit checks or application fees. Contact our representatives today to learn more.
Since private student loans in Louisiana are more expensive than other kinds of student loans, you should look at other options for student financial aid. More affordable education loan options include Stafford loans, Perkins loans, Grad PLUS loans and Parent PLUS loans. As a potential college student, you should explore financial aid options in Louisiana that'll save you money down the road. Contact our associates to learn more about student loans in Louisiana.
When it comes to finding a student loan to pay for college, private student loans offer several advantages. For instance, many private student loan programs in Louisiana allow you to to defer payments while you're still in school. Other private student loan plans require that you start paying the loan back immediately. With some private student loan programs, you can make interest-only payments while you're still in school. This enables you to pay down the interest on your Louisiana student loans as soon as possible and save money.
Before you apply for a private student loan, make sure you have taken advantage of free-money options and federal financial aid first. Because Louisiana private student loans are costlier than federal student loans, you need to make sure you have taken advantage of all of your low-cost federal education loan options first. A private student loan should typically be your last funding resort once you have exhausted other funding sources. Call our associates to learn more about student loans in Louisiana.