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Parenting a college student is never an easy feat. There are a lot of things you need to do and take into consideration before you can say you succeed with it. However, all the sacrifices and hardships will pay off once you see your children finish their studies and eventually achieve their goals in life.

It is every parent’s joy to see their children grow properly as adults and at the same time thrive in whatever path they are going to take. Nothing truly beats when your children make you feel proud, especially when it comes to their studies. You will definitely feel the luckiest and most blessed person in the world once your children soar high.

Apparently, one of the crucial years in your children’s life is college days. Once they enter this phase, you have to support and guide them all the way. This ain’t an easy stage and you know that because you have been here before. With this, you have to be more patient with them and ensure that you are always by their side no matter what.

Listed below are a few things you need to keep in mind when you start to parent a child in college:

Don’t stress them out

College is the discovery years of every person and it could really be stressful and frustrating. As parents, you have to be mindful of their attitude and character at this point. This is the moment when you need to be extra understanding because college life is really tough. Just motivate them with everything they do and never stress them out. Also, you have to be willing to lend a hand whenever they have problems in order to make them feel loved and cared for.

Show them your support

Each child’s parent is their number one supporters. You have to ensure that you are always there for them, whatever their endeavor might be. Show them your support and how much you appreciate them. When the time comes they need to choose a course, you have to consider what they really want to take up. You should not force them to take up a course which they don’t like. It is still their choice and all you have to do is to fully support them along the way.

Communicate well

Make it a point to keep an open communication with your children once they enter college. Even if this is the time for them to be independent young adults, it is still necessary to communicate with them from time to time. Talk to them and ask how they are doing once in a while, so their confidence will be improved. More so, this will help them assure that you are with them all the time.

Being a parent is the hardest job in the world, indeed. Definitely, there is no shortcut to being a good one, so better do your best when it is time for you to be one. You have to guarantee that you provide them with quality early childhood education up to a college degree. Make sure that you take good care of your children and love them unconditionally.

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Federal Loans

It is free financial aid from the government which is given to the students who fill out the free application form for federal student aid each year. Then after reviewing your application, you are assessed based on your income and expenses and the college costs annually. Different types of federal loans are available to lend to the college students. But each of them has affixed maximum amount which you can borrow. A good thing about federal loans is that these can be easily paid off using student loan consolidation. Different types of federal loans are:

Direct Subsidized Loans

These federal loans are for the college students who are in financial need. They offer lower interest rates, and the interest rate is not changed throughout the life of the loan. It can help you to save money by paying lower interest rates. But as you have to apply each year for the loan the interest rate may vary from our previously approved federal loan interest rate. The benefit of subsidized loans is that the government have to pay off the interest that accumulates during the time you are studying in school or college.

Direct Unsubsidized Loan

These are approved for the students who are not in a financial need but don’t have enough money to pay the college fee. These also have lower interest rates. The difference from the subsidized loans is that all the interest accruing throughout the repayment has to be paid by you (borrower) which ultimately increases the overall loan repayment amount.

Direct Plus Loans

If the student has taken student loans but still are not enough to cover the whole educational costs then, the direct PLUS loan can be applied by your parents to fulfill your educational costs. The con of these PLUS loans is that they have fixed interest rate but much higher than the subsidized and unsubsidized loans.

Federal Perkins Loans

This type of federal loan is the best choice for the students with financial needs. These have a fixed interest rate of 5% which is higher than subsidized and unsubsidized. You can borrow up to $5000 per year which is much higher than the other three types. But the drawback is only a few colleges participate in this type of loan.

Category: College Students

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Planning College | Types Of Financial Aid Available

Federal Loans