You are encouraged to continue applying for outside scholarships throughout your education career. Mines will accept scholarships as long as you are enrolled.
Always keep an eye out for scholarships that are unique to you. If the deadline has already passed then save the scholarship onto your calendar for next year. This will prevent you from having to conduct your search all over again. The daily blast will also list occasional scholarship opportunities, so be sure to read it regularly.
Once you receive a scholarship remember to report it to the financial aid office.
You may borrow a private education loan for education-related expenses. Generally this loan would come from a bank or from an education loan provider and may require a creditworthy cosigner. Mines does not have a preferred provider list.
Reasons You Would Want A Private Loan
- You’ve compared the loan terms with your federal loan plan and have deemed the private ones better or are unable to take out federal loans
- You’ve applied the maximum amount of federal loans available and still have a cost difference
- You are a dependent and your parents will not borrow a federal PLUS loan
- You owe a balance from a previous semester
Things To Note About Private Loans
- They may require you to make payments during school
- May have variable interest rates
- May require an established credit record or a cosigner
- Cannot be consolidated with the federal loan consolidation program
- You need to make sure there are no prepayment penalty fees
Payment Plan or 529 College Savings Plan
Our Bursar’s Office offers a payment plan where monthly payments can be made for your bill. View the Payment Option site for more information.