Paying for College

By Nicholas Vanikiotis

One of the largest expenses a family will have to make is putting their children through college. College tuition has skyrocketed over the past decade and it is just going to keep getting more expensive. Fortunately there are ways to pay tuition that make it easier on the family finances. The most common way students pay their tuition is by getting a student loan from either the government of a private lender.

In order to be approved for a federal loan you must first fill out a FASFA form. Your family income must also meet a requirement in order to be considered. With private student loans students need a co-signer most of the time because their credit score is not established. The great thing about private loans is that you can get on a deferred payment plan that postpones payments up to 6 months after graduation. There are also interest only loans where you pay the interest only while in school and begin paying off the loan balance after you graduate college.

http://money.cnn.com/2009/07/17/pf/saving/student_credit_card_questions/index.htm

http://money.cnn.com/2009/11/02/pf/tuituion_help.moneymag/index.htm

http://www.nytimes.com/info/student-loans/?scp=1-spot&sq=student%20loans&st=cse