Home | Finance | Loans
Believe it or not, you can learn pretty much all you need to know about financial aid in five minutes. It all starts with understanding a few definitions, including the definition of financial aid. Financial aid comes in various forms; scholarships, grants (essentially the same as scholarships), work study funds, tuition waivers, fellowships, teaching assistantships (the last two for graduate students), and loans. And, financial aid can come to students from government, private, and college/university sources. Many people think the terms scholarships and financial aid are synonymous. Actually, scholarships...also called grants...are one form of financial aid. Scholarships, requiring no repayment, are frequently awarded to high achievers, students whose abilities may be valued, or students whose families belong to a sponsoring organization (church, civic organization, corporation, etc.). Students seeking financial aid of any kind, especially those who may qualify for need based financial aid, should complete the FAFSA (financial aid form) every year. The paper FAFSA is available in virtually every high school guidance office and every college financial aid office in the nation. The FAFSA may also be completed online. It is the information on the FAFSA that determines your eligibility for need-based aid. But, remember that all aid does not require need. Some colleges may ask you to supplement the information on the FAFSA by completing their form as well. Normally, these institutional forms are very simple and straightforward. Most colleges and universities offer a form of aid called work study, which allows students to earn money working in campus offices (and occasionally off-campus non-profit organizations). Work study funds, and loans, are referred to as self-help aid. Students with financial need, as established by the FAFSA, may qualify for government subsidized, low interest loans. Those without need can also borrow, but at higher interest rates. There really is not much else you need to know about financial aid except for the importance of meeting deadlines, the need to read and follow the instructions on the financial aid letters and publications sent to you, and the fact that you should contact your college financial aid office immediately if you encounter difficulty. Best wishes as you pursue your education.
Article Source: http://www.SponsorDirectory.com/Free-Content
University Dean Daniel Z. Kane invites you to visit his websites, which offer information on scholarships, financial aid, colleges, universities, campus life, adult education, online colleges, and online degrees.
Please Rate this Article
5 out of 54 out of 53 out of 52 out of 51 out of 5
Not yet Rated
