Student Loans for Junior Colleges

Junior colleges are sometimes referred to as community colleges or 2-year colleges. Some students get their degree at these educational institutions and are finished with school, while others transfer upon completion to a 4-year university. There are student loans for junior colleges, just as there are the same loans for traditional universities. The first thing you will need to do is complete a FAFSA, which stands for Free Application for Federal Student Aid. Years ago this form was done on paper and sent through postal mail, but today it can be completed and submitted via the Internet.

Even if you don't know which school you will be attending, completion of this form is important because you can use it for as many as 10 different schools. The sooner you get this done the better as different schools have different deadlines. When completing the FAFSA you will need to supply certain documentation and information. This information will need to be for the year prior to the year you plan to attend. The information includes but is not limited to your academic transcripts, proof of selective service registration (if you are male,) information on any drug convictions, your financial details including any income and assets, as well as your parents' financial details unless you are an independent student.

Once your FAFSA application is processed, you can speak with a financial aid officer at the school where you will be attending to find out what kind of help you are eligible to receive. One of the most common student loans for junior colleges and universities is the Stafford Loan. Most students will qualify, and the amount loaned depends on various factors including the student's level in school. There are two different types of Stafford Loans, subsidized and unsubsidized. With a subsidized loan, the government pays the interest while the student is attending school. With an unsubsidized loan, the student must pay the loan interest effective immediately. Whether or not your loan will be subsidized or unsubsidized depends on financial need, which is determined by the income and asset information you supply on your FAFSA application.

Another type of loan you may qualify for is the Perkins loan, which is also federally funded. The difference is that instead of the government giving the loan to the student, they give the funds to the school who then gives the loans to students who meet the qualifications for extreme financial hardship. If you want to apply for a Perkins loan, do so as soon as you can because these are given on a first come, first serve basis.

There are also federal loans like PLUS loans for dependent students whose parents need financial help paying for their child's tuition. Your financial aid office at the school can tell you more about these types of loans. There are also private loans available from a variety of lenders; however, many college students do not have adequate credit and must have a co-signer on the loan such as a parent with a good credit rating.

As you can see, there are various student loans for junior colleges available. Step one is completing the FAFSA application, after that you will need to consult with the financial aid officer at the school where you have decided to attend and been accepted. In addition to loans, you can also apply for grants which are funds that do not need to be repaid. Regardless of your income, there are ways to get your college education. With the loans and grants available, anyone with the proper academic credentials can achieve their educational goals.