good standing. Income-based repayment options are now available to help you set up a payment schedule you can afford. It can take six to nine months for your loans to be returned to good standing. If you want to attend college while restoring your good-standing status, contact the college you plan to attend to see if they have any options for you while you resolve this issue. However, it is possible that you will have to wait until your eligibility is fully restored. Credit history In general, your credit history does NOT affect your ability to receive federal and state financial aid or to take out federal student loans. However, as noted above, defaulting on previous student loans can affect your eligibility. In addition, if you are returning to a college you previously attended, the college may require you to pay any outstanding fees, such as library fines or parking tickets, before processing your enrollment or your financial aid. Finding scholarships for adult students Many private and community scholarship programs are open to adults as well as traditional age students. Start your search by checking out theWashboard.org. This website is a free, web-based scholarship matching service for Washington students. It is supported by the Washington Scholarship Coalition, a public/private partnership of foundations, non-profit organizations, and state agencies. This website makes it easy to find and apply for scholarships. Plus, it is spam free. Remember: You should NEVER pay to search for scholarship opportunities online. Appendix Financial Aid Options, Financial Terms Glossary, & Additional Resources
good standing. Income-based repayment options are now available to help you set up a payment schedule you can afford. It can take six to nine months for your loans to be returned to good standing. If you want to attend college while restoring your good-standing status, contact the college you plan to attend to see if they have any options for you while you resolve this issue. However, it is possible that you will have to wait until your eligibility is fully restored. Credit history In general, your credit history does NOT affect your ability to receive federal and state financial aid or to take out federal student loans. However, as noted above, defaulting on previous student loans can affect your eligibility. In addition, if you are returning to a college you previously attended, the college may require you to pay any outstanding fees, such as library fines or parking tickets, before processing your enrollment or your financial aid. Finding scholarships for adult students Many private and community scholarship programs are open to adults as well as traditional age students. Start your search by checking out theWashboard.org. This website is a free, web-based scholarship matching service for Washington students. It is supported by the Washington Scholarship Coalition, a public/private partnership of foundations, non-profit organizations, and state agencies. This website makes it easy to find and apply for scholarships. Plus, it is spam free. Remember: You should NEVER pay to search for scholarship opportunities online. Appendix Financial Aid Options, Financial Terms Glossary, & Additional Resources
financial_aid_101.docx