Go Ahead, Take a Summer Job

It is quite common among college students who are working over summer or during school year if their income would affect their eligibility for financial aid or scholarships. For most of the time, the answer is going to be “NO”.

Do what You Have to Do

The FAFSA or Free Application for Federal Student Aid is a form that universities and colleges use in determining the need for any financial aid of a student. In addition to that, it puts protection in place among student earnings. For school year 2018 to 2019, the amount that students can earn before it’s counted as an income is $6750.

And in order to generate more than that given amount, a student should work more than 17hrs per week for 52 weeks in a given year.

Well, this is assuming that they are making federal minimum wage of 7.25 dollars.

And even after that figure, the money earned may not create an effect on the student’s financial aid. This is as per MorraLee Keller, Director of Technical Assistance at National College Access Network. Apart from income allowance, there are also other rules that are put in place that are assisting students who are worrying about their income causing negative impact onto their financial aid.

There’s an Exception

The income from federal work study job isn’t counted in the yearly income on FAFSA. Also, it can help in balancing out earnings from off campus work. Apart from additional spending money, work-study job adds valuable experience and skills to the student’s resume. This is good news actually if they were working in fields related to oil and then tried to file an application to WOT Asia. Due to the reason that work-study jobs are available to students, they’re more flexible compared to jobs off campus.

Use Your Resources

If the students make some annual income from work-study work but aren’t certain that it is counted right on their FAFSA, then they must check with it with the office of financial aid of their university or college right away. FAFSA changed the years to which parents and students report to get financial aid. Today, rather than the prior year, they are using “prior, prior” year. In other words, for school year 2018 to 2019, the financial information that is to be reported will come from 2016.

Student Financial Assistance Used For Cryptocurrency Investments

It had been known that many college students are riding on the digital currency craze head first. It was reported that these college students had been using their student loans to invest on cryptocurrencies such as automated bitcoin trading.

Financial authorities who found out about this trend said that this could be very risky specifically to those who are taking out private student loans versus financial student aid, considering that private loans impose higher interest rates and non flexible repayment schemes.

Funds Intended For Living Expenses Were Invested

Student loan borrowers can do this because they can use the remaining of the student loan funds for “living expenses”. Most of the time, student borrowers get higher loans which is more than what they need for the school semester.

As soon as the college or university’s Financial Aid Office takes the required financial assistance to pay for the course, a refund check will be sent out to the student borrower. The student borrower on the other hand can use the refund check to cover for his or her living expenses.

In essence, there is no policy or procedure in place that ensures the student borrower spends the remaining money on college living costs. Consequently, the borrower can invest the money the way they want to. Obviously, for quite a few students, they think it is best to use this money to invest in Bitcoin, Ethereum, and many other virtual currencies.

Decline In Crypto Prices In 2018

In 2017, the hottest investment in the market are cryptocurrencies. This is especially true for young college students in America. That’s why many college borrowers are drawn in to invest thinking that this is a smart way to put their refund money.

Some students may have figured that they can pay off their student loan quickly with their crypto investment too considering that when bitcoins have started, digital money seem to have great returns.

However, in 2018, the days of massive price increases appear to be miles away. Digital currencies, particularly the giant cryptos, Ethereum and Bitcoin, have fallen sharply from record high prices, and daily price volatility is more consistent with common stock.

Should these students invest more wisely and carefully, they could have avoided the huge lost incurred in 2018. Diversified investments could have been a better investment path like investing a partial in crypto, then a few on high yield savings, and etc. However there could always be yet another explosion of growth in digital currency, and student borrowers will receive far from what they have invested. Or, they may quickly lose all the financial assistance money they have invested.

The Significance of Financial Assistance in Small Businesses

You may encounter several types of small businesses whether you are in the office, walking at at park, or even just by browsing through your social media. It may look like an interesting and fun way to earn money. Well, somehow yes. However, business owners went through a vigorous process just to start their own business. Some of the legal requirements they accomplished are the state and local taxes and business permits. These documents were notarized at one of the most reliable notary public which is the Tucson notary services. It also offers other services such as business and personal taxes, payroll, legal document preparation, accounting any many more. These services can be toxic and can take too much of your time which is why professionals on this field will help lessen the workload and make sure everything is in order.

Probably the most important requirement and also factor that may positively or negatively impact the performance of every business is enough funding. Small businesses require sufficient funding to get started and continue operating the business. Moreover, it is also needed in order to develop and establish and strong relationship with clients.

If you want to start a business but you do not have enough funding, then you may want to find ways to look for financial assistanceIt is important to determine the appropriate type of financial assistance for you to avail. There are also several sources to consider if you are trying to look for financial assistance but before that, you must figure out how much money you need and when you will need it. Not only that, the type of financial service needed will depend on the type and size of business. Say, for example a future business owner must have enough capital, whereas retail businesses require less capital.

Getting financial help for a business falls in to several categories which includes government assistance program, small business loans or venture capital. For the purpose of this article, two of the most popular sources of financing will be tackled:

1. Equity Financing – this is simply defined as exchanging a small portion of the ownership of the business in return of the needed financial assistance. Basically the profit that will be generated from the business will be shared to the investor.

2. Debt Financing – this type of financing involves borrowing funds from creditors but when you already have the money to pay off, there will be interest.

Government Student Aid for College as Investment in the Future

Introduction to Financial  Aid

Students must know that there are plenty of options to choose from when it comes to seeking for funding to pay for their university expenses. Financial aid offers great options to those parents and students who need funding immediately and need more time for them to pay off the money. Hence, looking for different funding can be a bit of a hassle and overwhelming most especially when you should properly identify the right type of financial aid for students, that is why they must be exposed to at least three options.

Federal Aid will always be a great help to students. However, some are afraid of applying since the process can be quite intimidating because of the numerous requirements. Students are afraid of being rejected,  With that being said, they are getting loans from private company like online payday loans wherein they can immediately receive the money in times of emergency and the pay off will be deducted to their next paycheck within thirty days.

What are the available types of federal loans?

There are different types of loan, but for students, it is best to avail the federal loans for them to maximize its benefits. What are types of federal student loans that are currently available in U.S context?

There are four types of Direct Loans that are being offered by the William D. Ford Federal Direct Loan Program:

  1. Direct Subsidized Loans- this type of loan is granted to students who need financial assistance  for their college  enrollment and other fees.
  2. Direct Unsubsidized Loans– this is a type of loan where anyone can apply because it is granted not based on  the financial needs of applicants.
  3. Direct PLUS Loans– this is a type of loan that is given to professional students and parents to cover their financial expenses that is not covered by other financial aid. Just like the second type of loan, it is not based on the financial need of the applicant.
  4. Direct Consolidation Loans– this gives the opportunity for applicants to compile all eligible federal student loans into one single loan having single loan service.

Why is there a need for federal student loans?

If you are the type of person who thinks that you will not be needing this aid very soon, then you must start investing on it from now on. This type of loan provides great benefits in comparison to other types of loans. It will be of great help to you or anyone you know.

A Deeper Look at Student Financial Aid Programs

Student Financial Aid is called by different names such as student aid or student financial support. This is basically an education program that is intended to financially support folks who are furthering education.

There are various forms of student financial aid including:

  • Grants
  • Scholarships
  • Student Loans and;
  • Work Study Programs

What’s the Difference of these Programs?

Each program has a common denominator. It is to provide financial support to students. Of course, let’s not forget that every option has their fair share of setbacks. Read on as we discussed deeper the financial aid program mentioned.

Number 1. Scholarships

This is a financial award that’s intended to provide assistance in covering the part or entire cost of education. As for the eligibility, it will be based as per the criteria that are established by the applicant. There’s no need to pay back scholarships. Most of it is being given to eligible students, no strings attached.

Depending on the school and the scholarship program they have, some requires the student to maintain a grade every semester, some requires student to take part in community service or at times, work for a certain employer or company after graduation.

Number 2. Grants

Financial aid grant is basically money that’s awarded to students to be able to pay for their educational expenses. Grants are given by any of the following entity:

  • Schools
  • State Government
  • Private Institutions
  • Federal Government

Much like scholarships, it doesn’t need to be paid back. Grant providers stipulate whether the grant must be used towards tuition, additional expense or research cost.

Number 3. Loans

Unlike the previously mentioned financial aids, education loan must be repaid. And it often comes with interest. In addition to that, limits are set on the amount of financial assistance that can be received.

In the event that you are not qualified for the first two programs and you are not comfortable taking loans for your education, you may try your luck investing in Bitcoins which is a hot item right now. You might want to do a quick check for the best crypto signals to have idea on how you can earn money using Bitcoins and save enough to send you to a University or College.

As a matter of fact, many countries have established their own financial aid program to assists student to graduate. In countries that are providing education at nominal cost, financial aid might just have tertiary link to an educational status than being tied to the family’s economic condition. Also, the financial support for students is almost always indirect.