The number of Latinos that are entering college is growing. The amount of students that actually complete a bachelors program is decreasing. However one thing remains to skyrocket, the amount of student loans that are yet to be paid back to lenders.

So what you end up with is a huge amount of debt and no degree. This is not always the case because those Latinos that are completing courses and earning degrees are doing so with higher amounts of debt.

The American federal system does not favor degrees higher than a bachelors, financially speaking. The system allows students who qualify to receive federal funding to do so through their undergraduate years. When a student enrolls into a graduate program it becomes a challenge to receive funding.

If you are a permanent resident of the United States, you need to search our government website for federal student aid. Depending on how much financial support you need combined with the amount of hours you will be taking, you can get a Pell grant. Just so you know, the Pell Grant is not guaranteed and it is based off of your FAFSA application. The Pell grant used to be called Basic Educational Opportunity Grants (BEOGs) simply because it would allow students who needed the financial assistance have enough to get their basic education paid for as the title of grant is rightly called. Women grants can be found in addition to federal funding, especially for single parents. The average student who has been through the educational system will tell you to start with basic federal grants.

The first steps are to apply for government aid. Some financial aid offices at college and universities require that you do this first before you apply for any other aid. To be ready, get your most recent tax returns ready, if you are a dependant, you will need to have your parents fill in their information for household income. This will allow you to have the most accurate EFC or Expected Family Contribution. Apply for FAFSA here: http://www.fafsa.ed.gov/