If you apply for financial aid, you may be offered loans as part of your schools financial aid offer. To learn more about how loans are used, then be sure to visit the SoFi website. You may also want to read the Federal Student Aid Handbook for further information about how your federal student aid will be distributed.

Five Coloradans share stories about the student debt crisis - Chalkbeat  Colorado

Planning your aid package

At least two months before you apply for financial aid, you should examine your financial situation to make sure you can pay for the costs of attending college. With a qualified budget and a budget plan, you can calculate the total costs of attendance and plan the required financial aid only by having proof of income documents. have a look at how to get a loan for tech startup.

It is important to follow up with your financial aid office when the loan has been received, either at the time of the loan approval or a few weeks later. Be sure to send a follow-up letter within 10 days of receiving your loan, showing any progress made with the loan payment, and outlining the upcoming deadlines.

Once you have your aid package, you should start to plan what you will spend the money on. While a college degree is one of the most valuable assets you can own, you also need the money to pay for living expenses during school. You will want to use a plan to estimate the costs for tuition, books, transportation, food, housing, personal and health care, and miscellaneous expenses.

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