MFS
FFEL Subsidized Stafford Loan
Loan
Private Lender
1-800-433-3243
Varies by school, although you can't apply earlier than Jan. 1 of the year you'll be attending or later than June 30 of the following year.
First year students can borrow up to $2625. Sophomores can borrow up to $3500. Juniors and Seniors can borrow up to $5500. These limits may be higher based on your status and a parent's inability to se
cure a PLUS loan.
Need-based loan on which the government pays the interest until you begin repayment. Deferment, forbearance, and cancellation are all possible under certain circumstances.
Undergrads must meet federal criteria for need and general eligibilty requirements, attend school at least half-time, and have financial need as determined by the FAFSA.
Submit FAFSA by school's deadline.  If school determines you are eligible, complete and submit a Federal Stafford Loan application and Promissory note from your lender. The school certifies the application and sends it back to the lender for disbursement
You start paying back these loans six months after graduation. The government pays your interest until you begin repayment and during authorized deferment periods. The interest rate, set on June 1,  w
ill not exceed 8.25%.  It is currently 7.66%. Borrowers also pay fees of up to 4%, which are deducted from the disbursement.
Generally considered the better deal of the two kinds of Stafford loans (subsidized and unsubsidized), as the government pays your interest while you're in school and during other authorized deferment
periods.
no
FFEL Unsubsidized Stafford Loan
First year students can borrow up to $2625. Sophomores can borrow up to $3500. Juniors and Seniors can borrow up to $5500. These rates may be higher based on your status and a parent's inability to se
With this non-need-based loan, you are responsible for paying interest from the time the loan is taken out until it is paid in full. Deferment, forbearance, and cancellation are all possible under certain circumstances.
Eligibility is not based on need. You must meet general eligibility requirements. The loan is available to any undergraduate enrolled at least part time who doesn't qualify for a subsidized loan or ne
eds to borrow beyond that loan limit. Students must be enrolled at least half time.
Submit FAFSA by school's deadline. If school determines you are eligible, complete and submit a Federal Stafford Loan application and Promissory note from your lender. The school certifies the application and sends it back to the lender for disbursement
Amount of repayment depends on loan size, length, and interest payments. You are given a grace period until six months after graduation; however, interest starts to accrue from the time the loan is di
sbursed. The interest rate, set June 1,  will not exceed 8.25%.  It is currently 7.66%. Borrowers also pay fees of up to 4%, which are deducted from the disbursement.
If you allow the interest to accumulate, it will be capitalized--that is, the interest will be added to the principal amount of the loan and will increase what you have to pay. If you pay the interest
as it accumulates (while you're in school), you'll repay less in the long run.
FFEL PLUS Loan
Limit is equal to cost of attendance minus any other financial aid you receive.
Enables families with good credit histories to borrow to pay education expenses for dependent undergrads enrolled at least half time. Deferment, forbearance, and cancellation are all possible under certain circumstances.
Must pass credit check. Families with good credit histories can borrow to pay education expenses of each child enrolled at least half time. Student and parents must also meet general eligibility requi
rements.
Your parents submit a completed PLUS loan application (available from the school, a lender, or a state agency) to your school. After the school completes its portion, it must be sent to a lender for evaluation.
Loan repayments generally begin 60 days after final disbursement. Repayment is up to 10 years, depending on the amount borrowed. The variable interest rate, set every June 1, is set at the T-bill rate
plus 3.1%, with a cap of 9%.  The current interest rate, charged from first disbursement until the loan is paid in full, is 8.72%. A fee of up to 4% is deducted from your disbursements.
To maximize the loan amount for which you will qualify, pay off your consumer debt to show a clean credit report.
Direct Subsidized Stafford Loan
U.S. Dept. of Education
P.O. Box 84
Washington DC
20044
Varies by school, although you can't apply earlier than January 1 of the year you'll be attending or later than June 30 of the following year.
Undergrads must meet federal criteria, have financial need as determined by the FAFSA, and be enrolled at least half time.
Submit the FAFSA by the school's deadline. After it is processed, your school will review the results with you and inform you of your loan eligibility.
You start paying back these loans six months after graduation. The government pays your interest until you begin repayment and during authorized deferment periods. The interest rate, set every June 1
, will not exceed 8.25%.  It is currently 7.66%. Borrowers also pay fees of 4%, which are deducted from the disbursement.
Generally considered the better deal of the two kinds of Stafford loans (subsidized and unsubsidized), as the government pays your interest.
Direct Unsubsidized Stafford Loan
You pay interest on all payments until this non-need-based loan is paid in full. Deferment, forbearance, and cancellation are all possible under certain circumstances.
eds to borrow beyond that loan limit.
sbursed. The interest rate, set every June 1,  will not exceed 8.25%.  It is currently 7.66%. Borrowers also pay fees of 4%, which are deducted from the disbursement.
Direct PLUS Loan
Your parents must fill out a Direct PLUS Loan Application and Promissory note, available from your school. It isn't necessary to fill out a FAFSA unless your school says so.
Loan repayments generally begin 60 days after final disbursement. Repayment is up to 10 years, depending on amount borrowed. The variable interest rate, set every June 1, is set at the T-bill rate plu
s 3.1%, with a cap of 9%.  The current interest rate, charged from first disbursement until the loan is paid in full is 8.72%. There is also a fee of 4%, which is deducted from your disbursements.
Federal Work Study
Work
U.S. Dept. of Education, Schools
Amount paid depends on the number of hours worked per week (the average is 10 hours). The rate is at least the current minimum wage.
Students work on- or off-campus at jobs that usually encourage community service and work related to your studies; however, they can also include working in the library and dining halls.
Available to undergraduate students with financial need as determined by the FAFSA. Must meet general eligibility requirements.
You are automatically considered for FWS when you submit the FAFSA to apply for federal financial aid. If you accept an FWS position, you can select from a variety of positions.
You earn money (jointly paid by the federal government and your employer) for working a set number of hours each week. The type of employment will vary depending on the school.
The amount of work can't exceed your total FWS award. When assigning work hours, your employer or financial aid advisor will consider your class schedule and your academic progress. Scheduling is usua
lly flexible since you are, first and foremost, a student. You are given a FWS award by the financial aid office, but not a specific job. While there are often good opportunities to find jobs in areas
of academic interest (which may lead to research positions and relationships with faculty), there are plenty of other less attractive positions. Be aggressive in your job search and start early.
State Work Study
Government, Schools
Check with your school and state higher education agency.
Amount paid depends on the number of hours worked per week. The rate is at least the current minimum wage.
Students work on- or off-campus jobs that encourage community service and work related to your studies but can also include less appealing positions.
Available to undergraduate students with financial need. You must meet general eligibility requirements and be attending a school in your state of residence.  State Work Study may not be available in
all states.
Apply through your state higher education agency or school. The application requirements may vary by state.
You earn money for working a set number of hours each week. The type of work will depend on the school.
The amount of work can't exceed your total SWS award. When assigning work hours, your employer or financial aid advisor will consider your class schedule and your academic progress. You may be able to
adjust your work schedule around other activities. Often, there are good opportunities to find jobs in areas of academic interest (which may lead to research positions and building relationships with
faculty), but there are also plenty of other less attractive positions. Be aggressive in your job search and start early.
AmeriCorps Programs
Community Service
P.O. Box 438
Beltsville
MD
20704
1-800-942-2677
The Vista Program has no deadline. Local service programs and the National Civilian Community Corps deadlines vary from year to year.
In addition to a living expense of at least $7400/year (which can be used to pay current education expenses or repay loans), workers receive $4725/year for up to two years of community service, unifor
ms, and health/child care coverage.
Members perform community service in one of three programs: local programs, Vista (a sort of domestic Peace Corps), and the National Civilian Community Corp. (which combines residential living with leadership training).
Any citizen or Permanent Resident 16 years or older with high school experience is eligible to join. NCCC applicants must be between the ages of 17-24.
Joining AmeriCorps is a competitive process in which entrants apply for one of the three programs.
Workers perform at least 1700 hours of service per year. You can work before or after attending college.
Community service looks good on resumes and applications, but you could probably earn a lot more by working a civilian job. Nonetheless, if the challenge appeals to you, this is an impressive way to e
arn money for college.
U.S. Army
Military Service
Government
1-800-USA ARMY
Year-round recruitment.
The Army College Fund has two, three, and four-year job programs earning $20,000, $25,000, and $30,000 respectively. In addition, a Loan Repayment Program pays up to $55,000 in college loans.
Service with the armed forces in a variety of capacities.
Members must be U.S. citizens in good health and in good moral standing (without a criminal record). Members must also have a high school diploma or GED and be at least 18 years old (17 with parental
consent).
Contact your local army recruiter or call 1-800-USA-ARMY.
Members serve in military positions in the U.S. army for a minimum of two years, gain leadership training, and earn money for college.
Serving with the armed forces can get you money for college, course credit, and valuable leadership and skills training. But, the Army is not for the squeamish.
Army ROTC
http://www-tradoc.army.mil/rotc/
varies by location
Enrollment typically begins after you have started college. Once you have started school, you could apply for a three year army scholarship. There is no set deadline, as you can wait as long as the end of your sophomore year to apply.
Offers $5000/year, $9000/year, and $12,900/year awards depending on a student's academic and ROTC program performance, as well as an annual $1500 stipend.
The Army Reserved Officer Training Corps offers college money and job skills to those interested in a military career. Members must be enrolled in ROTC during the college years to receive college money.
Applicants must meet ROTC standards, including qualifying aptitude test scores, being in good moral standing, being at least 17 years of age, and being a high school graduate (or its equivalent).
Applicants apply through their college ROTC unit or the college they are attending.  Some schools offer ROTC programs through arrangments with neighboring schools.
Following college, an enrolled ROTC trainee must serve four years of active duty in the army reserves and agree to a four year obligation to be on a waiting list in the Inactive Ready Reserves.
If the military life appeals to you, this is a good way to earn tuition money and gain some valuable experience. Your days will be pretty busy as you'll have officer training courses and responsibilit
ies in addition to your degree-related courses.
Navy ROTC
www.nd.edu/~nrotc/
December 1 of year preceding entrance into college.
61 universities nationwide offer scholarships worth more than $75,000.
Entrants in the Navy Reserved Officer Training Corps gain military experience while fulfilling academic and naval training curriculum requirements.
Must be a U.S. citizen, at least 17 years old (but under 21), or a high school grad (or have passed the GED), meet physical requirements, be in good moral standing (not have a criminal record), and at
tain qualifying scores on the SAT or ACT.
Application process is separate from college admission process. Applications may be obtained at a local Navy or Marine Corps recruiting office.
Has service obligation of 8 years, 4 of which are served on active duty following school.
Worth looking into if a career in the navy appeals to you. Your days will be pretty busy as you'll have officer training courses and responsibilities in addition to your degree-related courses.
Air Force ROTC
www.unl.edu/afrotc/
College students may sign on to the program during any drop-add session of their school.
In addition to covering 75-100% of tuition costs (based upon your academic and air force training performance), recruits receive free medical/dental care, low cost life insurance, vacation with pay, u
nlimited sick leave with pay, and free space-available air travel
You'll try out the program through a 2-year General Military Course, followed by a competitive Professional Officer Course. Leads to career opportunities in piloting, navigation, missiles, engineering and computer science, medicine, and management.
Must be a U.S. citizen, full-time student, 18 years old, and physically qualified, be in good moral and academic standing, pass Air Force Officer Qualifying Test, have two academic years remaining, be
interviewed by a board of officials, and complete Field Training.
Apply with a local Air Force ROTC recruiter (a list of recruiters can be found at the given internet address).
You are obligated to serve four years on active duty as a non pilot; navigators typically serve seven years, and pilots serve nine.
Military classes mixed with higher education schooling prepare you for a future career. With 75-100% of tuition paid for, it's definitely worth considering for the military minded. Your days will be p
retty busy as you'll have officer training courses and responsibilities in addition to your degree-related courses.
Cooperative Education (Co-Op)
Schools
Varies by school and company policy
Pay varies by company, and expense reimbursement will depend on the policy of the school. If you are in a co-op program for need-based reasons, your earnings will not affect your financial aid.
Approximately 1000 colleges and universities offer cooperative education, which allows you to combine or alternate a semester of company employment with a semester of college classes--all for credit, and the work is for pay and (sometimes) expenses.
Eligibility varies by the area of study and the type of job.
Students apply through the schools and the company they interview with.
Students work 40 hours a week at a company in a field that interests them; they  may also work part time and attend classes part time, depending on the school policy.
A good experience for students willing to attend school for a fifth year--it is generally not recommended for school periods less than that. Provides you with excellent experience, money, and a foot i
n the door when you graduate.    

For additional information on Cooperative Education programs, contact:
National Commission for Cooperative Education
360 Huntington Avenue
Boston, MA 02155
Employer Tuition Assistance
Employer
For those companies which offer it, amount varies by employer and  could be affected by length of employment.
Companies may offer tuition assistance to their employees and their dependents.  Relatively recent changes to corporate tax laws have created less of an incentive for companies to help out, making such programs rare.
Eligibility is determined by the company.  It may be dependent on length of employment.
Contact your Human Resources Department
Be sure to look into how leaving your company would affect any tuition assistance.
Due to changing tax laws, such assistance has become quite rare.  If you're planning way ahead, you may want to look for this benefit with potential employers.