Three steps to help you pay for college

PORTSMOUTH, Va. (WAVY) – High school graduation season is upon us and planning for the next school year is already underway, especially when it means college.

Monte Crowl from BayPort Credit Union was on The Hampton Roads Show Wednesday to talk about paying for college, and some of the different ways to foot the bill.

(Information provided by BayPort Credit Union)

*Paying for your education is a big deal and BayPort Credit Union recommends a simple, three step process when gathering money for college.

*Maximize FREE money first
-scholarships (local service organizations, BayPort, etc)
-Pell Grants – Federal, based on need
-state college programs
-private grants

*Utilize CHEAP money next
-Direct Stafford Loans
-Perkins loans – low interest rates made through school’s financial aid office

*GAP financing – filling the holes you don’t cover
-Fedreal Plus Loans – loans in parents’ names
-Home Equity Loans
-Credit Cards

BayPort “Student Choice” loans: low rate loans with flexible payback options, just click on the “student” tab on the BayPort Home Page.  For more information, stop by any of the BayPort Credit Union locations across Hampton Roads.

This segment of The Hampton Roads Show is sponsored by BayPort Credit Union.

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