State Loan Programs
Federal student loan programs aren’t the only ones out there, although they’re the easiest for most students to get their hands on. In addition to these student loans, many states offer student loans to their residents, with the amount loaned being coordinated with federal loans.
These loans often focus on low-income students and on certain professions such as nursing and teaching. Unfortunately, these programs are susceptible to state budget cuts, and students should be prepared to seek out financial aid elsewhere should these programs experience overnight cuts.
FLUNK-PROOF FINANCES
Many students going to an out-of-state school will not qualify for state-based loans during their freshman year. Unfortunately, many of these same students forget to go back and apply for state-based aid in later years after they’ve gained residency. Take the time to figure out when you might gain residency and make a note on your calendar to go back and apply for state-based aid at that point.
To find out more about loans available in your state, see Appendix D.
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