The first place to start looking for scholarships should be at the high school counselor’s office. They will be able to direct students to local scholarships and additional resources to find more. Many colleges often offer scholarships to new students as well, so when selecting the college your student wants to attend be sure to consider the scholarship funds they are offering.
For additional scholarship options, visit the Federal Student Aid resource page.
Filling the gap between tuition and federal assistance
MMCCU partners with Sallie Mae’s Smart Option Student Loan program to help provide an option to students who are in need of student loans in addition to what is available through the Federal Government.
“While we are presently unable to offer student loans to our members, we acknowledge our members are in need of student loan options, and the Smart Option Student Loan program is a responsible option for students and their members to consider,” said David Murphy.
Once students have exhausted funds from grants and scholarships and available borrowings from Federal student loans and savings accounts, the Smart Option Student Loan fills in the gaps between tuition costs and the amount available to the student.
The student (or parent if they are applying for one of their Parent loans) would be referred over to Sallie Mae and would apply for a student loan through the program. If approved, Sallie Mae would receive certification from the school the student is attending as to the cost of tuition, as borrowers are eligible to borrow up to 100% of the cost of attendance.
Once the certification has been transmitted, Sallie Mae would remit funds directly to the school to cover the outstanding tuition balance, and the student would work with Sallie Mae to pay back the borrowed funds.