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Paying for College

PAYING FOR COLLEGE

 

 

 

Scholarships

As CHHS receives information on scholarships for our graduating seniors we will post them on our website.  Please take time this summer to search for scholarships through your place of employment, colleges, or church.  Remember, you do not need to pay for anyone to search for scholarships. 

Resources

  • http://www.fafsa.ed.gov/  Free Application for Federal Student Aid:  If you plan to borrow money or receive a grant, you should start by completing this application on January 1st.
  • http://www.cfnc.com/ College Foundation of North Carolina:  This nonprofit company was created to boost the percentage of students in NC who attend college.  It handles the majority of student educational loans in the state.  This site also allows you to search for and apply to colleges.
  • http://www.finaid.com/  Established in 1994, this has become one of the most-cited, comprehensive sources of financial aid information.
  • http://www.collegeboard.com/ CollegeBoard:  Aside from preparing students for the PSAT, SAT, and AP exams, this cite has financial aid calulators and tips on avoiding scholarship scams.
  • http://www.nclc.org/  National Consumer Law Center:  This site focuses on graduates who accumulated too much debt and how to handle it.  Click on "site map," then "student loans."
  • http://www.fastweb.com/ Fastweb:  Free scholarship search.  Do not pay someone to search for scholarships.  It should be free.

 

Help with FAFSA

State Employees Credit Union is offering a valuable service to members and their children on Saturday February 20th. Branch offices will be open across the state to assist students and prospective students fill out applications for college financial aid.Contact your local branch to set up a time even though a few drop-ins will be allowed.  Hours of operation are from 9 am until noon on the 20th.  This can be a valuable asset to students and parents who are trying to secure financial aid for college.

Student Aid Terms Defined

  • Grants:  Money that does not have to be repaid.  Academic scholarships are one kind of grant, but the term is typically used when referring to awards that help students from low-income families.
  • Loans:  the most common form of financial aid.  the ones that come through the government are often Stafford Loans or Perkins Loans.
  • Subsidized Government Loans:  If family income is low enough, the federal government will pay the interest on the loan while the student is enrolled.  Payments typically begin a short time after graduation.
  • Unsubsidized Government Loans:  This the type of loan most students have.  Interest is charged as soon as the loan is received, but payment still does not begin until after graduation.
  • PLUS Loans:  Government loans taken out by parents to pay for college expenses.  It was formerly known as "parent loans for undergraduate students". 
  • Private Loans:  These are the loans that families turn to if family savings, grants, and government loans do not cover the bills.  Rates and terms can vary widely. 
  • Scholarships:  This category covers a range of financial aid.  It covers local civic club checks to full-ride awards offered by the university.  They are often competitive and have certain guidelines that a student must meet. 

Don't forget tax credits...

Calculate your tax benefits and see which one works best for you:

  • Hope Credit
  • Lifetime Learning Credit
  • Tuition & Fees Deduction

**This information was gathered from the above mentioned websites and the Raleigh News & Observer. Please review all information and websites for updates.  


How will your Career Choice help pay off your debt?

https://www.discover.com/student-loans/college-planning/majors.html?acmpgn=E_SCH_XXXX_BM_X_CCEA5

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