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Pursuing a college education is a great investment in your future. The time, money and effort you spend on your education will provide you with opportunities for expanded career choices and greater earning potential. Although financing your education may seem overwhelming at times, many types of financial aid are available. Federal Student LoansAll Federal Stafford, PLUS and Grad PLUS loans issued after July 1, 2010, will be through the William D. Ford Federal Direct Loan Program (Direct Loan). Direct Loan funds will be disbursed directly to your school from the federal government. To learn more about funding your college education, visit the Federal Student Aid. Private Student LoansPrivate student loans can help bridge the gap between any government and institutional student aid you receive and the amount needed to attend your school of choice. Applying for a supplemental private student loan should be considered only after you have exhausted all other sources of federal, state and/or institutional financial aid. Additional information is available at www.studentloan.org/fillthegap. Additional College Planning AssistanceIf you are looking for information on planning for, applying to, paying for and succeeding in college, Northwestern Bank recommends the Iowa College Access Networkฎ (ICAN). ICAN offers free services, including assistance with completing the Free Application for Federal Student Aid (FAFSA), to students and their families. Visit www.ICANsucceed.org or call 877-272-4692 for more information about ICAN. Private LoansAfter pursuing the many avenues of financial aid, you may still find out that you will need additional funds to make your post-secondary education a reality. Private loans come in from a number of different ways, such as a home equity loan or a loan secured by a vehicle. Talk to your Northwestern Bank personal bankers to find out which loan may benefit you. |
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