Financial Aid Chart for Continuing Education

Type Program	Program Information	Annual Limits	Requirements
Private Student Loans see Private Loans	Private student loans are the best financing options for students who are enrolled in an accredited program or enrolled in a certificate or technical training program. Private student loans are used to make up the difference between total cost of school and any financial aid received. These loans are not guaranteed by the government so the interest rate and origination fees may be higher. Most private loan programs have higher borrowing limits than federal loan programs. The student will submit the application as the borrower. The parent or other creditworthy adult can become the co-borrower to the application if the student is unable to meet the credit guidelines. The loan can be used for education-related expenses, including the purchase of a personal computer. SayStudent Loans Financing a Better Future save money build good credit pay off your loan faster	From $3,000 to $45,000 annually depending on the lender the aggregate program maximum is $150,000 or more.	You must have at least 21 months credit experience and a satisfactory credit history. You must meet the credit guidelines for employment and residency. If you can't meet these guidelines, you may request your parent or another creditworthy adult to co-sign for the loan. Continuing education students must be enrolled at least half-time in a degree or certificate or technical training program at an approved school. Funds are certified through the school.
Home Equity Financing see Home Equity	Private loan program where the lender opens a credit line on your behalf, which credit line is secured by the equity value of your home. You will use equity line checks or online transfer capabilities to pay for education or other expenses. The line of credit can be used at any time and for any expense up to your approved credit line balance.	No annual limits. Your amount is subject to your approved equity line balance.	You must have equity value in your home. Calculate your equity value You must meet the lenders credit criteria and credit check. There is no limitation or restrictions on the use of the funds.
Banker Home Equity Line of Credit (BLOC) see BLOC program at our SayStudent site	Same as the home equity product above except that you use your BLOC as your primary money account. Best for applicants who have working income: use BLOC to pay for education expenses deposit your income into the BLOC pay living expenses using the BLOC income left over reduces BLOC account view illustration of program	No annual limits. Your amount is subject to your approved equity line balance.	You must have equity value in your home. Calculate your equity value You must meet the lenders credit criteria and credit check. There is no limitation or restrictions on the use of the funds. You must have discretionary income to benefit from the BLOC program.
State Agencies link to your individual state for information	Individual states offer financial aid programs for state residents and in some cases out-of-state residents attending in-state schools. Financial aid may include grants, scholarships, financial aid assistance, and some loan programs.	Financial assistance may vary by state.	Financial aid qualifications can vary by individual state. link for state information
Investment Financing Options see Alternative Aid	State529 Plans Qualified investment plans established and managed by individual states that can be used to pay education expenses. Contributions are after-tax, but earnings in the fund are tax exempt. Funds are available to any named beneficiary. The beneficiary can be the contributor. Two types of plans: Prepaid College Tuition Plans College Savings Plan Education IRAs IRA plans that can be setup for education. Contributions are after-tax, but earnings in the fund are tax exempt. The IRA can be used to pay for higher education and K-12 education expenses.	Limitations subject to the available amount in the plan.	Plan must be setup in the name of the beneficiary. Withdrawals are tax-exempt if the funds are used to pay for education-related expenses. Penalties may apply for payment of non-education expenses.
IRA Plans More information from the IRS: http://www.irs.gov	You can make withdrawals from your IRAs for qualified higher education expenses without having to pay the 10% penalty tax.	Limitations subject to the available amount in the plan.	You will owe income tax on at the amount withdrawn from the plan.
Scholarships	Scholarships are available from many private and educational institutions. This type of financial aid does not have to be paid back. The more common form of scholarships are athletic and academic. However, there are a number of scholarships awarded for other achievements.	Limits subject to scholarship award and program.	Scholarships may require an essay, written exam, or some demonstration /document of your eligibility. get some help Most scholarships (including athletic) will require a minimum GPA. Scholarship funds will be sent to the college directly on your behalf.
Military ROTC see Alternative Aid	Federal-merit scholarship program that will pay for college and provide a monthly allowance. You must meet specific academic or physical fitness requirements to join. For information: Navy Army Air Force Marines National Guard Coast Guard	Limitations subject to the cost of college attendance.	You will be required to complete a period of military service after you graduate.
Eligible Tax Credits More information from the IRS: http://www.irs.gov	The IRS allows students and parents who file and owe taxes to claim one of two educational credits. Tax credits reduce your overall taxes paid dollar-for-dollar.	Hope Tax Credit: up to a maximum $1,800 per year Lifetime Learning Tax Credit: up to a maximum $2,000 per year per family	Credit can only be taken for expenses covering tuition, fees, and and books (if the book expense was paid to the institution on condition of enrollment) minus any scholarships and grants received. Room and board, personal expenses and transportation are non-eligible expenses.
Other Financial Aid See Aid Note: other types of financial aid available	Includes loan forgiveness programs, VA benefits, Americorps, U.S. public health, and job training programs.	Provides help for limited circumstances.	View program for limitations.