SPECIAL SECTION:
• Electrician – Training to become an electrician takes about
as long as it takes to get a bachelor’s degree and a license,
but this job training pays for itself along the way. If reading
blueprints and installing or repairing wires and other electrical
components interests you, this career might be electrifying.
• Plumber – You’ll need your high school diploma and an
apprenticeship to become a plumber. Once you are licensed,
you can start to work, but you’re sure to need some physical
strength to take on this job.
• Diagnostic Medical Sonographer – After obtaining an
associate degree, sonographers go on to prep patients for
procedures, review and process images for physicians, and
administer ultrasounds. You’ll also be responsible for operating
imaging equipment.
• Elevator Installer – A career with high earning potential,
elevator installers repair and maintain elevators, escalators,
moving walkways, and lifts. A high school diploma and
apprenticeship is required for this role, so if you’re good with
power tools, this job might be a lift up for you.
TYPES OF COLLEGE LOANS
Getting into college is one of the most exciting times of a
student’s life and is the first step in shaping his/her career. Many
colleges and universities offer a myriad of grants or scholarships to
assist with paying for post-secondary school, but often these are
not enough. Student loans provide financial assistance for students
to cover the costs associated with attending a college or career
school, including tuition, supplies, books, and living expenses.
EDUCATION
There are several types of loans available including need-based,
non-need-based, state, and private.
Need-based loans are provided to students who are unable to
pay the amount needed to cover all costs to attend college. Need
is determined by the Free Application for Federal Student Aid
(FAFSA), which can be completed online, as the name suggests,
for free! Need-based loans are available as a Federal Perkins Loan,
awarded to students with the highest need, or a Federal Direct
Subsidized Loan, provided interest-free while in college.
If FAFSA determines that a student is ineligible for a need-
based loan, non-need-based loan options are available as a
Federal Direct Unsubsidized Loan or Federal Direct PLUS Loan.
Unsubsidized loans allow the borrower to add interest to the total
amount borrowed after graduation, but beware, as this leads to
owing even more money when it comes time to start paying off
the loan. Direct PLUS Loans provide graduate students or parents
the opportunity to borrow the total cost of attending college,
minus other financial aid received.
Unlike the loans mentioned above that are sponsored by
the federal government, state and private loans are sponsored
by banks, colleges, foundations, and state agencies. The U.S.
Department of Education manages all college loans available by
state and requires students to be in-state residents or enrolled in
a college in that state. Private loans are an option for borrowers
but come with terms and conditions that may not be as favorable
as federal loans. Private loans also require a cosigner who is
responsible for repaying the money if the student fails to do so.
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MURRYSVILLE ❘
FALL 2019
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