Just as their are firms such as H&R Block that will open up retail outlets in your neighorhood every year at tax time, there are companies that specialize in FAFSA applications. Now, as with majority of tax returns, FAFSA is anything but rocket science. It is simply a matter of making sure you know all your variables and where to write it on form. For companies who perform this work day in day out, your financial future is simply an algorithm which is input and output in moments. They typically spend more printing paper for your documents and checks then they do in any actual 'labor'.

SO, consider tackling FAFSA yourself. Just like learning to do your taxes on your own, a few hours spent researching how to do forms ONCE will enable you to conquer them next time, and you can even make money on side on campus teaching others how to complete such forms.

Here is Government's central page for FAFSA. Everything you need to know is here and studying all resources here WILL let you fill in this form without errors, and without giving your money away:

http://studentaid.ed.gov/students/publications/student_guide/2003_2004/english/general-applying.htm#renewal

This higher rate coupled with extra ten years of loan, has borrower paying 47% more interest, or $55,000 more over life of loan. Even with a lower payment that supposedly makes it more affordable to purchase that home. Sounds like a pretty good deal for lender.

Another problem borrower faces is building equity much more slowly in beginning of loan. The extra interest expense paid for extended length of loan prevents equity from building up quickly. All of this for a monthly payment that is only $35 less.

You need to think in terms of overall cost and not just monthly payments. The total cost is what you will give back to your creditors. The focus on monthly payment takes attention away from total amount to be repaid. You need to look at this with any indebtedness, car payments, personal loans, credit cards: figure total cost, not just what you pay each month.

You'll begin to hear more about these loans I'm sure. Think long and hard before you lengthen your indebtedness. The goal is to become debt free and to do it as fast as possible. Advise your families and friends to do same.