About our partner:
Sallie Mae's 1-2-3 Approach to Paying for College

With Sallie Mae's 1-2-3 Approach to Paying for College, we encourage students and families to tap the most affordable education funds first and minimize education loan debt upon graduation.

  • Step 1.

    Use Free Money First. Students should fill out the FAFSA to access need-based grants and research and apply for scholarships. Students should consider supplementing grants and scholarships with current income and college savings.

  • Step 2.

    Explore Federal Loans. Available to both students and parents regardless of need, federal loans offer low, fixed interest rates and flexible repayment options.

  • Step 3.

    Fill Any Gap with Private Student Loans. After students have pursued free money and federal loans, private student loans may be available to cover the rest of their education costs.

PRIVATE STUDENT LOANS  
Loans for everyday expenses. private loans can be used to cover all of your education expenses not covered by traditional financial aid.

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Stafford Loans  
The Federal Undergraduate Stafford Loan is a simple interest, government guaranteed, no collateral loan.  The Federal Graduate Stafford Loan is the same as the undergraduate loan, except that graduate students may borrow more.

 

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Consolidation Loans
The Federal PLUS (Parent Loan for Undergraduate Students) is a simple interest, government guaranteed, no collateral loan. Parents of undergraduate students are the one who apply and take out the PLUS Loans.

 

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