The federal government offers three different kinds of federal student loans for Utah students. These loans are the Parent PLUS loan, Stafford loan and private student loans. The first loan (Stafford loan) can be taken out under the student's name. This type of loan doesn't require credit checks or collateral. The second loan (Federal Parent PLUS Loan) is aimed toward parents of undergraduate students. With a Utah college student loan, parents can borrow up to 100% of their child's tuition. Third, private student loans are unsecured loan, credit-based loans available to Utah students.
Student are required to fill out and submit an online FAFSA to be considered to receive federal aid in Utah. Once you submit the FAFSA, you will be considered for grants, work study programs, and federal education loans. The Department of Education determines the eligibility guidelines for Utah student loans. They'll consider several factors such as net assets, income number of family members, and living expenses when identifying your financial need. Call our friendly representatives to learn more.
Since private student loans in Utah tend to be more expensive than other kinds of student loans, you should think about other options for student financial aid. Other low-cost student loan options include Perkins student loans, Stafford loans, Parent PLUS loans and Grad PLUS loans. As a potential college student, it is smart to explore financial aid options in Utah that are affordable and will save you money. Call our associates for additional information about student loans in Utah.
Before applying for a private student loan, make sure you have taken advantage of free-money options and federal financial aid first. Since private student loans in Utah are more expensive than federal student loans, you should take advantage of federal student loans before applying for non federal student loans. Since there there are many different choices for financial aid, a private student loan should be your last resort. Call our representatives to learn more about student loans in Utah.
In Utah and other areas of the United States, a Stafford loan is a government subisidized loan for graduate and undergraduate students. The main advantage of a Stafford loan is low fixed interest rates. For example, graduate students can secure interest rates as low as 6.8 percent. The interest rates for undergraduate level students range between 3.4 and 5.6 percent. Unlike non federal student loans in Utah, a Stafford loan does not require credit checks, collateral or application fees. Call our representatives today for more information.