How exactly does My Federal Education Loan Debt Influence Our Teen’s FAFSA?
If you’re a moms and dad with education loan financial obligation, maybe you are wondering if this can impact your child’s monetary help eligibility.
You can find various kinds of school funding available, as well as the almost all federal pupil aid isn't contingent on pupil or moms and dad credit score, including student that is federal financial obligation the moms and dads could have.
What forms of educational funding can be found?
There are numerous forms of university aid that is financial. Some aid that is financial predicated on need plus some is dependent on merit; some needs to be paid back; plus some requires your youngster to operate to make money. Help can be given by the federal or local government, the faculty it self or charitable and personal businesses. Generally speaking, college aid that is financial into four categories: funds, scholarships, work-study programs and student loans.
Just How is school funding granted?
The initial step in the educational funding process is finishing the Free Application for Federal Student help (FAFSA ® ) .