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Student Aid

Student Aid
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Federal student aid is the largest source of student aid which help students pay for education in college, university and career schools. The student aid provides money to pay for tuition, books, room and board. Student aid is given in form of grants and scholarships, Federal Work-Study Programs and student loans which may be subsidized or unsubsidized. These are low-interest loans which have flexible repayments. These include Stafford Loans, Federal PLUS Loans and others which can be checked in the U.S. Department of Education website. Student aid also includes tuition waivers. The federal student grants are need-based and they include Pell Grant, TEACH Grant, and SMART Grant. This is free money and is not paid back.
 
Student aid grants and scholarships target the students with financial needs. The government and the states offer low interest loans. The government subsidizes the loans. A Free Application Form for Federal Student Aid is available on the U.S. Department of Education website. The institution is the one which advises the amount of aid to be awarded to the student depending on their financial need. The student’s academic progress must be satisfactory. The low-interest loans do not accrue interest until the student finishes school and the repayment can be deferred. However loans must be repaid with the interest specified. This is not free money.

State aid is provided by the state where the student is attending school and in some cases in other states.
  
Most student aid is awarded first come first served. It is important to submit the FAFSA forms close to January 1st with all the information as much as possible in order to be considered. This includes the social security card and number, driving license if any, income, income tax returns, expected family contribution among other data. The student aid requirements have to be adhered to in order to qualify for student aid. The FAFSA form can be filled online or it can be downloaded and completed and then mailed.

Applications provide relevant information on the family size, student's income, parent's income, assets, number of children in college and EFC. This information is used to determine how much student aid to be awarded. Need-based student aid is based on the student's financial need. The student must be eligible and must meet the requirements. Pell Grant targets low-income students.

There are scholarships offered by various institutions. These include individual grants which are offered in particular fields such as medicine, the Army, the Navy, disabled etc. To qualify the student must register in these individual programs.

Merit-based scholarships are granted to students who are brilliant and talented. The students who scored highly in high school and those who maintain high SAT scores are considered. There are sports scholarships for talented athletes. There are music scholarships and scholarships for those with leadership potential. There are other scholarships offered by the church, the student's employer if he/she has been working, some parent's employer offer scholarships and also community civic organizations in different areas.

Last modified onTuesday, 02 April 2013 15:45

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