5 Ways To Decrease Student Loans

by DeLadurantey Law Office, LLC on May 22, 2014

19091576_sIf you or a loved one is attending college in the fall, you are probably concerned with how to pay for tuition, books, and other expenses related to obtaining your higher education. Many people automatically think they must pay for college by taking out student loans, but it is important to consider your other options:

  • Scholarships. Don’t assume that you do not qualify for scholarships. There are billions of dollars available in scholarships and not all require top grades or athletic ability. In fact, there are numerous scholarships based on a variety of factors including chosen career path, honors earned, ethnicity, and unique situations such as orphans, children or single parents and many others.
  • Financial aid. Even if you are not sure if you qualify for financial aid, you should complete the Free Application for Federal Student Aid (FAFSA). By filling out FAFSA, you can discover how federal aid in the form of grants, low-interest loans and work-study programs can assist you with paying for your college education.
  • Grants. College grants are similar to scholarships because in most instances you do not have to pay them back. Most grants are based upon financial need instead of your qualifications.
  • Transfer. You can save a significant amount of money by attending a community college for the first two years and then transfer to finish your education at a four-year university. With strategic planning to ensure that all of your credits will transfer, you can reduce your overall costs by taking this approach.

Finally, many college students work when they attend college. While it is unlikely you will earn enough to cover all of your expenses, it will allow you to take out lower amounts in student loans and graduate with less debt.

If you have student loans and you are struggling to pay them, we can help. It is important to contact us as quickly as possible so we can assist you in avoiding your loans going into default.

If you would like a down-to-earth approach and a lawyer who will listen carefully to all your questions and concern, call DeLadurantey Law Office, LLC,at (414) 377-0518. We serve clients primarily in the areas of student loan law, Chapter 7 and Chapter 13 bankruptcies, debt negotiations and defending foreclosure actions. If you live in the area of Milwaukee, Wisconsin, call us for the debt relief assistance you need. Visit our web site and like us on Facebook.

 

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