A monthly college planning guide for Nebraska high
school students
May 2008
________________________________________________________________________
Seniors Ö borrow wisely for college!
The financial
aid award letter you received from your college indicates the loans you qualify
to borrow. It may include loans you borrow directly from the school (Perkins),
from a lender (Stafford Loan), or from the federal government (Direct Loan). In
addition, your parents may qualify for the PLUS loan. Your college will provide
borrowing procedures.
Before
you borrow, estimate your future monthly loan payments using our Student
Loan Repayment Calculator at www.educationquest.org/calc.asp .
The
key is to borrow WISELY. Think about how debt may affect your future lifestyle.
We talked to a former college student named Brad who graduated with a teaching
degree, but canít afford to be a teacher because heís paying off $30,000 in
student loans! He offers these tips to help you avoid his mistakes:
… Carefully research the college you
plan to attend to make sure itís a good fit. Brad transferred to three
different schools, which added additional years of school and loan debt.
…
Estimate your future
salary and compare it to the amount of student loans you think you will need.
… Work while you go to college and use
that money to pay living expenses.
…
Use your student loan
money only for tuition, books and
fees.
…
Keep track of your
student loan debt. Brad said he didnít pay attention to his debt accumulation
until his junior year, and then said, ěIt was a shock!î
JuniorsÖsummer
is the time for serious college planning. Here are your assignments:
…
Start
narrowing your college choices. Tour a few schools this summer. Visit EducationQuest and
search the Internet for information about colleges that interest you.
…
Update
your Activities
Resume on the EducationQuest web site. Include extracurricular
activities, honors, awards and part-time jobs.
… Look for scholarships. Free resources include your guidance
counselor and ScholarshipQuest at www.educationquest.org, which has over 1,700 local and statewide scholarships. Pay attention to
the scholarships seniors are earning so you can apply for the same awards.
May ěTo Doî List
Seniors
___
Apply for student loans, if necessary
___
Register for freshmen orientation
___ Start
a list of dorm room essentials
Juniors
___
Register by May 6 for June 7 SAT
___
Register by May 9 for June 14 ACT
___
Continue campus visits
___ Get a
summer job and save for college
For
free help with college planning, contact EducationQuest Foundation:
Kearney
308-234-6310
800-666-3721
Lincoln
402-475-5222
800-303-3745
Omaha
402-391-4033
888-357-6300