"What College Student Loans and Grants Are Available and Tips on How You Can Apply for Them - And How to Find Out What Student Aid You Are Eligible For"

January is an important time to make certain you have applied for your student loans. Make certain you have checked for any grants you may be eligible for as well.

In these cases, many times the early bird does get the worm!

What is a National Science and Mathematics Access
to Retain Talent Grant (National SMART Grant)?

This grant program is for full-time undergraduate students who are enrolled in the third or fourth academic year* of undergraduate study. The award is for up to $4,000 for each of the third and fourth academic years.

National SMART Grant Requirements

More on SMART Grant

Tip 1

You may be able to get financial aid from your state government, your school or a private scholarship. Researchn federal aid early (ideally, start in the spring of your junior year of high school). Make sure you meet all application deadlines!

Student Loan Tip Tip 2

Direct federal loans offer a grace period of six months, which means no payments are due until six months after graduation or after the borrower becomes a less-than-half-time student without graduating.

Tip 3

Apply for aid from the college and from your state. Many students are going to private lenders or online to look for financial aid. Remember you should always exhaust scholarships and grants, as well as federal student loans before turning to private or alternative student loans, which often carry high and variable interest rates and may require credit checks. A variable interest rate is an interest rate that changes, usually annually. Never use a credit card to pay for your education.

One of the worst traps you can fall into is putting off applying for your student loan. There are deadlines and, in many cases, the early bird gets the worm.

You need to fill out any applications immediately. Your school can help you determine which applications are needed, but then it is up to you to follow through.

What happens if you put it off? You may not be able to afford to go to college and will find yourself waiting until next year. In many cases, waiting until next year becomes a habit and, before long, college is something that you never get around to doing.

Watch for student loan scams that provide nothing for your advance fee - not even a list of potential sources.

Others may tell students they have been selected as "finalists" for awards that require an up-front fee.

Many times, these companies ask for a student's checking account to "confirm eligibility," then they debit the account without the student's consent.

Some companies may quote only a relatively small "monthly" or "weekly" fee, then ask for authorization to debit your checking account - for an undetermined length of time.

More College Student Loan Scams to Watch For

Before you apply to a college, check them out carefully. These questions will be important and the wrong answers could cost you financial aid.

* Ask about the school's accreditation,* licensing and
campus security.

* Find out the school's loan default* rate (the percentage
of students who attended the school, took out federal
student loans and failed to repay their loans on time).
You might not be able to get aid from some of our
programs at a school that has a high default* rate.

* Find out the school's job placement rates (the percentage
of students who are placed in jobs relevant to their
courses of study).