Overcome The Educational Loan Burden

By on March 8, 2013

In order to pursue their dream of achieving World class best education, many students take up financial aid in the form of educational loans. The amount for these loans is extremely high and so is the interest rate depending on the course you choose. So generally, the re-payment of these loans becomes a very taxing and tedious job and the student has to engage in multiple jobs along-with his studies to make the payments. This takes a toll both on his health and studies as well; coping with the pressures at college and his job is extremely difficult for him. The need to multi-task day-in and day-out tears up all his focus and concentration from studies! The student is then not able to concentrate well on his academics and is constantly worrying about clearing the loan.

Scholarships and Grants: One way to avoid this misery is to acquire and win different Scholarships. There are ample numbers of Scholarships available for every student, pertaining to a plethora of skills, talents, interests and even characteristics. You name it and there is a Scholarship available for it. You can use the resources from the internet, your school and local businesses and through non-profit organizations like charities and church etc. Do not hesitate in inquiring with them and telling them about your financial condition. The key is to find the one (or more) Scholarships that you may be eligible for, and then apply for it. It is best to apply in as many Scholarships (where-ever you qualify) as you come across. Read the requirements thoroughly and then approach the issuer. Scholarships lend a very helping hand in assisting your finances. If you are not lucky enough to have rich parents who are ready to bear the economic brunt for your college funding years then Scholarships are your other best option. Another great aid of getting some free money for your education is applying for Grants. Grant awards are issued by various authorities like the government (State or Federal), from colleges and also from Private sectors. These provide money for your college that doesn’t have to be paid-back as is the case with loans. After you have won a Scholarship it is advisable to check its renewal terms. Some may require maintaining a high grade-point average. So clearly confirm these at the time of receiving the Scholarships. If you are not fulfilling the criteria’s your then your Scholarship may get cancelled.

Scholarship Application and Interview: Be extremely careful when filling in the Scholarship forms as they are the first and last impression making tools you will have to present your case well. Write an excellent Scholarship essay. Proofread every line of the form. Do a practice session of the mock interviews and build up confidence. Learn effective ways of communicating and presenting your case rightly. Do not give false facts and never lie about your immigration status. Submit all the documents ahead of the deadline and not exactly on the last date. Prepare well in advance. Organize your chores systematically. Follow a process and maintain a checklist.

Corporate Help: There are many corporate and big business giants who also provide Scholarships. MNC’s like AT&T, HP, Exxon Mobil, Google, Ford, J.P. Morgan Chase, Coca-Cola, Wal-Mart and McDonalds etc. provide Scholarship aid and fellowships to various students coming from various backgrounds. They have different pre-requisites, requirements and guidelines for you to be eligible. So you can research and inquire about them with their respective offices or through their official website.

By researching extensively, you broaden your spectrum and create various options to help and assist you. Be mindful of the choices you make as it will have a long-term repercussion on you and your career.

About Author

Claire Foster is an avid writer and mother of 2 children. Her new website, http://www.scholarshipscouts.org , helps students from all walks of life find much needed funding for college.

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