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Publish Date August 22, 2019
Graduation season has come and gone, and soon your student will be off on an entirely new adventure. While you’ve probably thought about the expense of a college education and all it entails (books, supplies, food, room and board and more...), it’s important to know what resources are available to help your family with finances associated with this big life transition.
“Before you begin looking for financial assistance for school, come talk to us at Fidelity Bank & Trust,” says Jill Cahill Assistant Vice President – Retail Loans, NMLS #503201. “While the school you or your child is attending will have a financial aid office that can offer grants, scholarships and programs for assistance, your hometown bank will also have opportunities for assistance.”
With so many details to think about when it comes to sending your child off to school for the first time, we’ve compiled some ways that parents and students can find the financial and educational resources they need to prepare for this next chapter.
“Parents can assist their college student in a number of ways,” says Cahill. “They can help their college student compare the different loan programs by examining interest rates, amortization length, deferment periods, and when interest would start to accumulate on the loan. Parents can co-sign student loans with their college student or take out a Parent Plus loan in their name for college needs. We also encourage parents to visit with us at Fidelity Bank & Trust to see what other financial options are available to them.”
At Fidelity Bank & Trust, we refer individuals to Iowa Student Loan who offer private loans to help families pay for college as well as refinance existing student loans. As an Iowa non-profit and the state’s student loan experts, Iowa Student Loan offers competitively priced loans*.
“Not only will Iowa Student Loan assist a college student with a loan for schooling expenses, they will also help refinance and consolidate student loans after the student graduates,” says Cahill. “This non-profit program also provides planning tools for parents and students, scholarship information and more resources to help both parents and students feel prepared for this exciting new chapter!”
As your Hometown Bank, the team at Fidelity Bank & Trust wants all families to feel prepared and excited about the upcoming school year. To learn more about how our team can assist with college planning, contact us today!