Pay for College

If you've thought about going to college, you've probably thought about how to pay for it. College can be expensive. But what you may not realize that there are billions of dollars available to help you pay for college. In fact, the most expensive colleges often provide the most financial aid, especially to students who really need it.

Calculate costs

It's easy to get overwhelmed at the thought of paying thousands of dollars over the next few years. It's also easy to overlook some of the other costs of college, which unfortunately, aren't always covered by financial aid. But don't forget that there's financial aid available to help you.

Apply for Federal Student Loans

There are four main types of federal loans available to help you and/or your parents pay for college:

• Perkins loans are low-interest loans offered to students with the most financial need. The federal government pays the interest on Perkins loans while you're enrolled in school at least half-time.
• Subsidized Stafford loans are low-interest loans offered to students with significant financial need. The federal government pays the interest on subsidized Stafford loans while you're enrolled in school at least half-time.
• Unsubsidized Stafford loans are low-interest loans available to all eligible students, regardless of financial need or family income. You're responsible for paying the interest on unsubsidized Stafford loans as soon as the money is received. Just like with Subsidized Stafford Loans, you don’t have to start making payments until 6 months after you leave school.
• PLUS loans are low-interest loans available to parents of dependent students and to graduate and professional students. PLUS loans may be helpful if you still have uncovered expenses after adding up all your financial aid and borrowing the maximum amount in Stafford loans.