Find Reliable Student Loans for Alabama Students
Finance College with Affordable Government Programs
If you are a student in Alabama who is interested in finding accurate information on financial aid, then you should review the websites established by the Alabama Commission on Higher Education (ACHE) and the Kentucky Higher Education Assistance Authority (KHEAA). These agencies work in tandem to deliver comprehensive information and programs designed to help Alabama students who are headed for college.
Here are some quick links for the separate sites' information on various ways to finance your college education:
- ACHE's primary page for information on federal and state loans, scholarships and grants, even fellowships and work study programs for Alabama students is here.
- KHEAA has divided its information among several pages. You can find student loans here, the John R. Justice Scholarship/Loan Repayment Program here, work-study criteria and you'll see still more financial options listed in the menu links at the left side of each page.
The recession years have wrought drastic changes in the student loan industry. Money is no longer so easy to obtain, and it's up to you (both students and parents), to seek out all types of available loan funding, then choose the offer that best matches your needs.
Research Alabama Student Loans
KHEAA should be the first stop in your preliminary financial aid planning. The site has been redesigned recently and is now quite user-friendly, even intuitive. It's packed with valuable facts you need to know when setting your financial course for your college years. Here are examples of the material KHEAA offers:
- Find out about the various types of colleges and universities in Alabama by typing "Alabama schools" in the search box, which returns a list of downloadable files on each school that participates in the two-state educational cooperative. A good file to read first is called "Planning Your Future for Freshmen", and other similar links for Alabama students appear on this page.
- If you type "Counselor Connection" in the search box, that returns various documents written to help Alabama students navigate the financial aid system. You can read the March 2010 issue here to get the general idea. There is now a page designed to display links for the Alabama-specific information hosted by KHEAA.
- Lay out your financial strategy with online loan calculators located here.
- KHEAA has set up the Alabama Student Loan Marketplace as the clearinghouse for all financial aid options it recommends for Alabama students. If you consult any part of KHEAA resources, make sure you include this site if your goal is to learn all about student loans. Login required.
Get Federal College Loans in Alabama
You may apply for federal loans through your Alabama school's financial aid office. Your first step in applying for financial aid is to fill out the Free Application for Federal Student Aid(FAFSA), so your school can use that to calculate what types of financial aid it can offer you. When you apply through the state, you have access to the lowest interest rates available.
Here are some of the federal loans you can choose from:
- Direct Stafford Loans
- Direct PLUS Loans for Parents
- Direct Graduate PLUS Loans for graduate and professional degree students
These loans also feature low fees and flexible terms.
Alabama Nursing Loan-to-Scholarship Program
The Alabama Nursing Scholarship is a $600 payment made to nursing students who commit to working in Alabama after they finish an approved nursing program. The payment becomes a gift after one year's service. This innovative program helps fill nursing vacancies within critical need medical facilities across the state.
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