Going to College in Mississippi?

Find the Best Student Loan Money for Your Buck

Confused about where to begin planning practically for your college financial aid strategy? A confusing mash-up of information abounds on student loans: federal loans, private loans, alternative loans, cheap loans and a lot of other terms and online keywords meant to bring all of the financial aid businesses floating to the top in one big furious and confusing swarm.

The State of Mississippi’s Education Services Foundation (ESF) has been helping students figure out the nuts and bolts of college financial planning for well over 10 years. What ESF has for you:

  • College planning tools
  • Student loan strategies
  • Loan applications
  • State grant and scholarship programs
  • Information that helps you manage your student loans after graduation.

ESF Federal Student Loans

ESF makes inroads in the federal student loan process by actually acting as your lender. You can complete the FAFSA—a necessary and time-sensitive step—plus borrow what your are qualified for as determined by Uncle Sam. Here are the federal loan options most common for Mississippi students:

  • Stafford Loans are immensely popular and awarded to almost every student. Staffords come in need-based and non-need-based versions and you could even qualify for aid in both.
  • Parent PLUS Loan allows parents with undergraduate students in college the opportunity to further meet the costs of education once other federal aid and fee aid have been meted out. You can also pre-approve for this through ESF, so you know in advance what your financial muscle may be.
  • Grad PLUS Loans are designed to give grad students extra education buying power. This population of students risks maxxing out their Stafford Loans well before the degree is won. The Grad PLUS is the next most affordable layer of federal aid.

Find out much more about the various federal student loan programs.

How Can a Mississippi Student Get a Private College Loan?

Private loans may seem easier in the short term to qualify for. In many instances you can even get them from your personal bank. BUT in the long-term you will pay much more than had you followed a more practical financial aid plan. Another word of caution: an increasing number of lenders will only consider you for a private college loan once you’ve borrowed your federal loan limit.

Visit ESF’s website for more information.