How to Compare Unsubsidized vs. Subsidized Student Loans
Fill out the Free Application for Federal Student Aid (FAFSA) form to determine how much financial aid you qualify for., Find out your "Expected Family Contribution" (EFC)., Determine your total costs for college.
Step-by-Step Guide
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Step 1: Fill out the Free Application for Federal Student Aid (FAFSA) form to determine how much financial aid you qualify for.
Most students log onto the website http://www.fafsa.ed.gov/ to fill out the forms, but you may be able to acquire hard copies from your school guidance staff or a college you are applying to.The FAFSA form will ask for tax information, but don't wait until you file your tax returns to submit the form.
Estimates can be provided until you have the actual numbers.
Try to send in the form the January before you start college. -
Step 2: Find out your "Expected Family Contribution" (EFC).
This is the amount of money that the government expects you and your family to contribute toward the costs of your education each year.
The remainder of the amount due will be covered by college scholarships and loans.
Most families cannot afford the entire amount of the EFC to pay for college and will supplement with unsubsidized loans. , This includes not only tuition and fees but also room and board (unless you will live with parents, relatives, or friends for free), textbooks, supplies, laboratory fees and transportation costs. -
Step 3: Determine your total costs for college.
Detailed Guide
Most students log onto the website http://www.fafsa.ed.gov/ to fill out the forms, but you may be able to acquire hard copies from your school guidance staff or a college you are applying to.The FAFSA form will ask for tax information, but don't wait until you file your tax returns to submit the form.
Estimates can be provided until you have the actual numbers.
Try to send in the form the January before you start college.
This is the amount of money that the government expects you and your family to contribute toward the costs of your education each year.
The remainder of the amount due will be covered by college scholarships and loans.
Most families cannot afford the entire amount of the EFC to pay for college and will supplement with unsubsidized loans. , This includes not only tuition and fees but also room and board (unless you will live with parents, relatives, or friends for free), textbooks, supplies, laboratory fees and transportation costs.
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Anna James
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