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Show 8A Sun Advocate, Price, Utah - Thursday, August 21, 1337 Explore financial options, strategies to cover students college expenses The government offers sevd based loan proeral rates at that are genergrams ally lower than you would get elsewhere. The government lends to students under the Stafford Loan program, and parents can borrow through the Parent Loans for Undergraduate Students Ready or not, many Carbon County students and parents are about to face college or university tuition bills. In the next few weeks, mild lions of parents of students will be making the inevitable switch from saving for college to paying for college. If your child didnt qualify for financial aid office. Parents with good credit histories also can apply for a PLUS loan to pay the education expenses of a child who is enrolled at least halftime. Under the PLUS program, parents may borrow the total cost of the childs tuition, less any other financial aid the child need-basereceives. For example, if your financial aid or (PLUS) program. didnt receive enough to cover Any student who is enrolled childs cost of attendance is expenses, the Utah Association in an eligible program of study $10,000 and he or she received of Certified Public Accountants at least halftime for an $2,000 in other financial aid, suggests you consider the fol- unsubsidized Stafford Loan. you may be able to borrow up lowing last minute strategies for Freshman students can borrow to $8,000. Like the Stafford paying college bills. up to $2,625, sophomores can Loan, the interest rate is variIf you havent already done get up to $3,500, and $5,500 is able and is adjusted each year on July 1. However, at nine so, now is the time to review all available for each of the two reof sources and grants possible maining undergraduate years. percent, the cap on PLUS The Stafford Loans variable Loans is slightly higher than scholarships. By now, most of the athletic and academic schol- years, adjusted each year on that of Stafford Loans. Also, arships have been spoken for so July 1, is capped at 8.25 per- since PLUS loans do not have a youll need to be more creative. cent. However, the student grace period, parents must beCheck with your employer. must pay an origination fee of gin repayment of both princi- four percent of the amount bor- pal and interest while their Many companies have scholarto children rowed, which is deducted from child is still in school. The reship programs open of their employees. the loan amount. payment period is usually ten There are also many private Interested on unsubsidized years. Some families may not realscholarships available that are Stafford Loans begins to accrue not based on need but rather following the first disburse- ize that they have resources of on personal, occupational and ment. their own from which they can education background, as well Students pay the interest borrow. For example, by applyas organizational affiliation, tal- while they are in school or can ing for a home equity loan or ent, ethnic origin, and other choose to defer interest pay- line of credit, you may be able factors. ments until six months after to use the equity you have built You can find a number of graduation, at which time the up in your home to pay for tucatalogs and directories that accrued interest due is added to ition. In most cases, interest on provide comprehensive lists of the loan balance. Students have up to $100,000 of a home eqpotential grant and scholarship up to ten years to repay Stafford uity loan is fully deductible information available on the Loans. However, borrowing against the Internet. However, if you still Depending on the college, equity of your home puts your find yourself coming up short, the student may arrange for a home at risk if you default on borrowing may be your only Stafford Loan either through a the payments. bank or through the colleges Your 401(k) retirement plan option. provides another source of funds, although it should be used only as a last resort. Most plans allow you to borrow half of your vested balance, up to a maximum loan of $50,000. The loan must be paid back within non-nee- college-boun- d at Sun Advocate Spends day hanging around backroom Keaton Burnham, the son of a Sun Advocate employee, spent 45 minutes stuck in a gar- bage can. The youngster was helping his mother who was inserting advertisements. hk"- - w'-- jr r rf " rrznrmmiu. r - Keaton felt this was a great way to spend his last day of summer vacation. Like most other children, Keaton went to his first day of school Wednesday wmmmmmmiwmm m 13 tMFTSMMf PRICE five years. Home Appliances & Home E ectronics o I If you quit or lose your job with the loan outstanding, the debt is considered a distribution from the plan. That means the money is treated as taxable income to you and, if youre under age 55, is subject to a ten percent penalty. Finally, you also may want to I if encourage grandparents or I other relatives who were planning to make large gifts to your children to do so sooner rather than later to help pay the cost tmn i of college. By making such gifts, theyll also be able to reduce their taxable estate. 1 In Loving Memory Ryan Kosta Bikakis Born-Februar- rf L 22, 1977 Died. August Refrigerators Freezers Televisions Ranges Washers & Dryers Stereos Dishwashers Camcorders Home Theater Packages Digital Satellite Systems Vacuums plus free delivery on all home appliances over 399 Sale prices good in f f( August 21 August through We will always love you and 23 rest rric installation ET2EE2) QGBiOTE throughout our store this week for extra-speci- on all built-i-n appliances over $399 al 'difrijritT: smnmos on more specially selected items! YOU CAN COUNT This ON SEARS FOR SATISFACTION Some major appliances GUARANTEED purchases and items at ital surcharges exlra and electronics available by t zesimen Post Office Ed & Laura Black Open In Price A 74 South Carbon Ave. Mon-SSun 1 2-- 5 at mez 9-- OR YOUR MONEY BACK our everyday low pnee Items at 1997 Sears Roebuck and Co special order only i Owned and Operated by: in most larger stores smaller stores OSHl 4n7M' I nJ,d. Offer good with mail In certificate through August 23. Sears professional installation only Offer not available in outlet stores advertisement includes many reductions spre al Outlet stores excluded Envro me of your fiends. There will be a memorial service held, Thursday, Aug. 21 , 1 997 at 6 00 pm at Peterson Elementary in East Carbon, Utah Hometown Pl&PS... you will be missed dearly. Love, Jessi, James, Steph, Lins and the fwh tow monthly pqywwti. look for the 1997 VCRs Microwaves c-t-y 73, Tie store you know is now close to home J evezy uttrr $wn c. t i |