Confused First Generation Senior

happymomof1
Sun, 27 Mar 2011 00:54:36 +0000

Your college will tell you which federal loan provider holds your loans, and the financial aid officer will help you learn about how this works.

Private loans from banks will almost always be less favorable than the federal loans. Again, you can get details from your college financial aid officer.

Usually colleges try to give you the same type of aid package for all four years. If your family financial situation changes, your aid might increase or decrease. Also, if some of your aid is a merit-based scholarship that requires a minimum GPA you could lose that scholarship if your GPA falls too far.

Some of your questions are specific to your personal situation and the package offered by your college. It is perfectly OK for you to phone the financial aid office and ask them about your aid package. They will be happy to answer all of your questions. Don’t be afraid of them!

Wishing you all the best!