Creating a plan for financing the next phase of your education
If you've decided to attend a different college, it's time to look at your options for financing the next phase of your education. We can guide you through that process and make it easy for you. Below are four steps that you need to take.

	Step 1 -	Check out your eligibility for scholarships.
	Step 2 -	Fill out a Free Application for Federal Student Aid (FAFSA) form.
	Step 3 -	Investigate all your options for low-interest loans.
	Step 4 -	Tips for a smooth transition

Check out your eligibility for scholarships.
Financial aid that you don't have to pay back is the best kind. Even if you think you are ineligible, thousands of scholarships are available for students of all backgrounds, abilities, and levels. So before you start applying for student loans, check out these opportunities. You may be surprised at what you find. Along with visiting the scholarship office at your current college, our Web site offers a wealth of resources to help you research your possibilities for receiving a scholarship that matches your skills, talents, and credentials. Here are a few of the resources you'll find there:

• ScholarSearch
  Our online scholarship search tool puts over $4 billion in available scholarship funds within fast, easy reach.
• Scholar Search Tips
  Our online scholarship search tool puts over $4 billion in available scholarship funds within fast, easy reach.

Fill out a Free Application for Federal Student Aid (FAFSA) form.
Then explore all your options for federal aid and grants. To find out how much federal aid you are eligible for, you will need to file an FAFSA form. If you have not filed this form before, go to www.FAFSA.ed.gov and follow the directions to file online. If you have filled out this form previously, contact the Department of Education to have your current financial aid information sent to your new school. Please keep in mind that you will have to renew your FAFSA information every year. After completing all financial aid requirements at your new school, you will receive an award letter from your new school. An award letter is a written statement of your financial aid eligibility. You will need your award letter in your search for financial aid. Because financial aid allotments vary between colleges, your current program of financial aid will not automatically transfer to your new college. For more information, you can also call the FAFSA office at 800.4.FED.AID.

With your award letter in hand, you can apply for aid, including grants that are part of the Federal financial aid program. As a part of your research, check on the deadlines for grants that may be available to you. For example, the Cal Grant program requires that you apply by March 2nd of your last year of college. By applying earlier, you can greatly increase your chances of receiving financial aid.

Investigate all your options for low-interest loans.
After exploring all the options offered through your research in Steps 1 and 2, your next step is to look into student loans. Once your award package has been established, you get to choose the source of your education financing. That's where Chela can really go to work for you. Chela offers a variety of federal loans with great interest rate discounts, as well as low interest rate private education loans designed to fill gaps left by traditional financial aid.

LOW-RATE FEDERAL LOANS

• Federal Loans for Students
  Low-cost Federal Family Education Loan Program (FFELP) loans from Chela are a smart source of education funding. FFELP loans for students include subsidized and unsubsidized Stafford Loans.
• Federal Loans for Parents
  Your parents will be interested in knowing more about Chela PLUS Loans, designed to help them pay for college expenses such as tuition and room and board.

Tips for a smooth transition
With this abundance of resources available to you, we recommend that you start early to create the financial aid program that is just right for you. A few tips follow to help make your transfer as seamless as possible:

• Meet with academic counselors to establish the transfer requirements at both your current and new schools. At the same time, you can make arrangements to transfer your academic records.
• Visit the Financial Aid office of your new school to find out about the grants, scholarships, financial aid and loan options they offer, and to ask about application deadlines. Be sure to inquire about any additional forms required to reapply for financial aid, and ask about any special scholarships designated for Transfer Students. If you have filed for financial aid in the past, you may be able to use the shorter form for aid renewal.
• Financial aid is not transferable. Because each campus receives an allocation of financial aid funds for their own institution to award, you must apply at each college you attend. Although you might qualify for the same types of aid once you transfer, you may not be eligible for the same amounts of aid.
• Notify your current lender of your decision to transfer. Be sure to update any name or address changes and your enrollment status with them.
• Don't forget to include the name of your new school when you complete the FAFSA, and then have it sent to their financial aid office. Remember to update your information with FAFSA for each academic year.