Extracting the Most Out of Your Financial Aid Package in 2012

By Lauren Vourensty

There are many people who realize the importance of a college degree and as such are looking for many opportunities to join colleges and universities. However, many of these people are forced to cut short their college dreams due to the unavailability of funds. It is true that there are many institutions that offer scholar credits. However, these students require one thing that many students do not have, a guarantor. There are, however, some institutions that offer student loans without a cosigner.

Before many loans are approved, the borrower is required to have a cosigner. This is usually someone with a very high credit score. Many banks require this so that in the event that the borrower defaults on the loan, the guarantor will pay the loan on the borrowers behalf.

This is particularly disadvantageous to students going to college because many of them do not have cosigners. Many potential guarantors are also unwilling to pledge against such students as these students may not have a history of credit and as such, the guarantor does not know if the scholar will pay or not. There are however numerous learner credits with no cosigner that one can obtain.

The federal student loan is one of the several types of credits that do not require a cosigner. The basis on which these credits are given is strictly on financial need. The time between application and approval of these credits is usually very short. It is also very easy to get such loans if one has very high G. P. A and receives positive recommendations from high school teachers and community leaders. The process in which one can get these credits is by filling in a FAFSA application form that is available at federal education offices.

The William D Ford is also another type of scholar loan that does not require one to have a guarantor in order to get approval. This type of loan is also advantageous in that it does not discriminate between graduate and undergraduate students. Students from both these categories can apply for these types of credits and get them approved in a short time.

The William D Ford loan for students also has many other advantages over many other similar credits. One of these advantages is the fact that its interest rate is very low. The loan is very highly subsidized. This implies that while repaying the loan, one will need to pay with only a small amount of interest on top.

Acceptance into college is a very big achievement regardless of what type of college one has been called into. Be it a 4 year Ivy League college or a 2 year community college, one should not let go of this opportunity. As more people in the job market have university degrees, it might soon become very hard to get a job without a college degree. One should therefore try as much as possible not to let go of the opportunity to go to college.

The availability of student loans without a cosigner should be a boost to people who want to go to college but have neither the money nor a cosigner. This should no longer be a reason for one not to attend college. There are many such credits and one should make an effort to apply for them.

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