Many parents view student loans as an embarrassing sign that they fail to earn enough money or didn’t do a good job saving what they had. While this occasionally may be the case, it is important to realize that college costs are spiraling faster than most Americans can keep up. Properly utilizing the right Federal student loan programs can help parents and students finance a college education for as low as 3.40% annually.
Whether or not you think you’ll ultimately borrow money through a program like the Stafford or PLUS loans, it is still important to fill out a FAFSA form. This is the basic form used by most schools’ financial aid office to determine what you might be eligible for. As the old saying goes, “the worst that could happen is that they say ‘no’!”
