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Can you give me information on student funding?

I need some urgent information on student funding. I specifically need to find out more about mature student funding. I left high school some time back and started working. Unfortunately, the job has now ended, and so I need to further my education. I want to join a university in New Jersey to pursue a degree in psychology, and I need financial support. What are funding opportunities available for students like me? Is it possible to get a mature student grant? I really need some form of funding urgently.

Rodney Fox

in Student Loans

1 answer

1 answer

Derrick Little on September 3, 2018

Most of the information you need on funding for students in the US is to be found at FAFSA. FAFSA stands for the Free Application for Federal Student Aid and provides forms to be filled by all federal loan applicants. All US citizens and permitted non-citizens qualify for a loan to fund their higher education. You can have funding as a mature student if you are a citizen. The following are the requirements for getting a Federal Student Aid:

  • You should have registered with the Selective Service System to be conscripted in the US if you are aged between 18 and 25, and if you are required to do so. Females are generally exempted from the requirement.
  • You must show that you have maintained Satisfactory Academic Progress (SAP) over time.
  • You must be a U.S. citizen, national, or an eligible non-citizen.
  • You must have a valid Social Security number. There are no exemptions from this requirement.
  • You must have either a high school diploma or a GED. You will not qualify without this. So if you do not have it, then the best thing is to register as a mature student in a high school which is free.
  • You must sign the certification statement stating as follows. That you are not in default on a previous federal student loan, that you do not owe any money on an earlier federal student grant, and that the federal student aid you seek will be used solely for educational purposes and nothing else.
  • You have not at any time been found guilty of the sale or possession of illegal drugs while receiving federal aid.

If you meet the above requirements, you will easily qualify for the loan. Grants for mature students are only available for those who qualify as needy people. However, there are also opportunities for funding from private student lenders. You can get information on such loans from International Student. You should know that these private lenders provide loans that are much more expensive to repay. Their interest rates are higher, and there are no waivers available for anyone. It is possible to reschedule repayment with some of the organizations but they result in the loan costing much more in the end. You should generally avoid private lenders unless you have failed to acquire the federal loan for any particular reason.

Jeffrey Rodriguez2 years ago

I agree that the best student funding you can get in the United States is from the federal aid program. The private lenders are also good but they are set up for commercial purposes so that they will cost you more during repayment period. Federal aid offers you the opportunity to reschedule your repayment terms whenever you run into problems. That happens much more often than you think when you first take the loan. However, the private lenders are a viable option for all students who wish to pursue their studies, but cannot access the federal loan. The good thing about the US is that you can still undergo studies, whether you are a mature student or not. This makes it possible for people who stopped their studies, to resume when the appropriate time comes. So your age, or the fact that you stayed out for some time, is not a problem.  

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