College Grant Blog

Something you must to know on the subject of financial assistance BEFORE selecting a college.
 
So, with the rising cost of education in college, nobody wants to pay more money than they must. Up till now thousands of parents pay a lot for college each year since they don’t know the fundamentals of financial assistance and don’t know the correct questions to ask. Thus let’s learn which questions to put.
 
Basics. #1
 
There are three kinds of financial assistance for college: grants and scholarships, loans plus work-study.
 
Grants or scholarships are free funds that you never have to repay.
 
Most grants or scholarships are awarded by the federal or state government and by the individual institution.
 
Loans must be repaid after graduating from college.
 
There are lots of loan programs existing offered by the federal or state government. The majority of them have rather low rates of interest. There are as well private loans available though these usually have a higher rate of interest.
 
Work-study. It is a job available on the campus.
 
Basics. #2
 
Need based aid and Merit based aid
 
So, need based financial aid is provided by all institutions to those who have need. Any person who can’t afford the full college cost has need.
 
So, a form named the Free Application for Federal Student Assistance (FAFSA) can determine the sum of need for scholarships and federal grants. A lot of highly choosy colleges also want a form famous as the so-called Profile form The FAFSA form and it is always filled out after the 1-st of January of the academic year the undergraduate will first go to college.
 
Merit-based aid comprises scholarships usually for students that have good grades and that have some special gift such as athletic talent or musical one. Most highly selective institutions offer little and sometimes no merit-based financial aid.