You've got to accept both. Stay on top of things. Make a list of all key deadlines. Keep a file with copies of all completed forms. Once you understand the details of your college aid package, the next step is figuring out how to pay your family's share of the bill.
Experts advise families to have a plan in place before they accept a college financial aid award.
If something happens and your family can't afford that dream college after all, you'll be out a couple hundred dollars and in for a whole bunch of last-minute stress. The federal loans are definitely the best way to go. They have lower interest rates and they have more flexible repayment policies. Families who need to borrow should be sure to exhaust all federal loan options before turning to private lenders. They have lower interest rates and they have more flexible repayment policies.