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First Steps
As A Parent, What Steps Should I Take?
 Plan Ahead
Don't wait until the last minute to figure out how you plan to pay for your child's education. Prepare early so you won't put a financial burden on yourself or your child in the future. We have some great information in Investing For College.
 Learn About Financial Aid
Before going down the loan path for you and/or your child, first investigate all of the possible financial aid opportunities that your child may qualify for - scholarships, grants, work-study, etc. You can also check out our Financial Aid 101 section.
 Apply for Federal Loans
Federal loans may be your best alternative, if you need to borrow money to help finance your college education. The federal government offers low-cost loans to qualified students and/or their parents under the Federal Family Education Loan Program (FFELP) and the Federal Direct Student Loan Program (FDSLP). Federal Perkins Loans are also available, but only to students who demonstrate exceptional financial need.
FFELP loans are funded by lending institutions and are guaranteed by the federal government. The U.S. Department of Education is the lender and guarantor for Federal Direct Loans. Whether you're under the FFELP or the FDSLP will depend upon the program in which your school participates.
To apply for federal loans, students and their families must first complete the Free Application for Federal Student Aid (FAFSA). The school's financial aid office determines the types and the amounts of federal loan funds you may borrow based on the information you provide in the FAFSA.
Through FFELP, Chela makes available:
Please note that every school has its own application process and time schedule for applying for student loans. Contact your school's financial aid office for complete details.
 Get Extra Help with Private Loans
If you find that your student needs additional money for housing, books, and other education-related expenses, your student can take out a private—sometimes called alternative—loan. A private loan can cover the entire cost of your student’s education (less other financial aid). Learn more about the private loans Chela offers through Nelnet.
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