An easy student loan is one in which can be obtained by the government through the FAFSA.gov website, if you meet the qualifications.
This loan application process is necessary for every student and/or parent of every student to find the finances to fund your child's college education.
There are numerous options of private student loan applications but there is only one federal application to be filled out. The federal application helps to determine how much in aid you are eligible to receive with regards to grants, loans, and the option to enroll in federal work study programs.
Not only does this application provide for federal based funding, many schools use this application to determine need-based scholarship programs, special incentives, workshops, and other grant eligibility.
Some private funded scholarships even take into consideration aid eligibility when awarding students.
With the access to easy money, people sometimes forget to take into consideration other factors that affect how much we ultimately need to request to fund college.
If you don't plan properly and are not informed of the true cost, college is like sending your student on a cruise for the first time, giving them your credit card, and not doing your due diligence about the other cost of the cruise.
Imagine this...
...You know that a cruise is one of the most exciting vacations you can think of. Your child and a couple of their friends get together and you book a cruise for your student, with you paying only your child's portion.
They do the research to find the best price for the trip on the best ship for the money. The price is right, the timing is perfect, and the destination is safe.
They bring the information to you and you book it immediately.
Now that the trip is paid for, you sit back and wait with anticipation for the date of departure.
What you didn't account for is the round-trip plane tickets, the new clothes, and incidentals that are needed before the trip even starts.
That's one set of expenses that you did not account for nor did your child properly plan for...
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