The student employment office at your college should be able to help you locate a school-year job, either on campus or in a local business. You can also borrow through the Unsubsidized Federal Stafford Loan or Unsubsidized Federal Direct Loan programs, mentioned above. The terms and conditions are similar to those for subsidized loans, except that interest begins to accrue right away. However, most lenders permit students to delay paying the interest until after graduation, adding the accrued interest to the total amount owed at the end. Finally, your parents will have to figure out the best way for them to arrange the payments they will be responsible for.
Many colleges offer monthly payment plans that spread the cost over the academic year.
However, for many parents, monthly payments turn out to be more than they can manage. Families who wish assistance in arranging for the best way to cover college expenses should consider getting the advice of professional financial advisers and tax consultants. SiteMap Copyright 2001 by Peterson's. All Rights Reserved. Peterson's is a Thomson Learning company.