Financial aid is for students, but there are different types of students. This section is designed for undergraduate students mostly just out of high school, or those who just started college. If you are a
Veteran or a
Graduate Student please check your specific section for more
Financial Aid information.
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If you are a student straight out of high school or you just enrolled in college it is very easy for you to Apply for
Financial Aid.
The entire Financial Aid business if you will is mostly geared towards undergraduate students. Federal Government, State Governments,
School, Private Institutions, Banks, and Education Oriented Organization all offer different aid to help you achieve higher education.
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Some of the types of Financial Aid offered by the above parties include: Student Loans,
Scholarships, Grants, Federal Work-Study Programs,
Fellowships, and Traineeships.
Many different Student Loans exist. Both federal programs Federal Direct Loans Program and
Federal Family Education Loans (FFEL) Program offer Student Loans.
If the Federal Programs are not enough students can always take out a Student Loan at a private bank.
Read more information on Private Student Loans.
If the Federal Student Loans and Private Student Loans
are not the answer students can try to obtain Peer to Peer Student Loans. Peer to Peer Student Loans
are provided by other investors willing to lend money to students.
Our Peer to Peer Student Loans section has more answers on the subject. Student Loans
are nothing more than an investment in yourself. You borrow the money, knowing college education will create a better you.
You'll be able to pay off the loan when you graduate and maintain good life quality using your education.
Many of the loans can be forgiven when you finish school. Federal Student Loans carry forbearance clauses allowing you to get
your education for free in exchange for your services later. Make sure to research your loans and choose only those with easiest requirements.
Scholarships are one of the favorites when it comes to Financial Aid. Most of the time they do not have to be repaid. They should be one of your first methods of financing your education right after
Grants. Scholarships could be awarded based on: financial need, academic merit, academic concentration, interests, or other criteria.
Grants are awarded based on eligibility and fund availability. They do not need to be repaid as long as the student remains eligible.
FAFSA Application is your start towards Grants.
They should be your first method of financing your education. Grants are awarded based on financial need. They come from different source: federal government, states, colleges, institutions,
private, and others.
Work-Study Programs are mostly federal. These programs allow students to earn
Financial Aid through employment. Financial Aid under
Work-Study Programs is awarded based on the need calculated from your
FAFSA Application. It was designed for undergraduate students only. The funding for this program is limited. Not all students will be awarded.
Fellowships are very similar to Scholarships, but there is some work
involved while in the program. The idea of a Fellowship is to help students transform from schools into their professional fields.
Generally Fellowships are reserved for students with special qualifications, such as academic, athletic, science, or artistic talent.
The number of available Fellowships to recent college graduates in public policy, arts, education, and other nonprofit fields is increasing.
Traineeships are in reality free money from various funding organizations. Those organizations pay you to support research or other
activities. They could be based on the need. The idea of a Traineeships is to train you for the job. Your tuition is getting paid
while you train.
As you can see students have many choices when it comes down to Financial Aid. Research each type of Financial Aid
and pick those that do not have to be repaid first. This will allow you to finish college and not have to worry about debt. Our Financial Aid page
is a great place to start your college journey.
We advise our financial aid candidates to use our tools below and see how much college is going to cost, how to plan or save for college, how to find financial aid, and calculate
loan amounts.
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Related Information
Federal Direct Loans Program
Federal Family Education Loans (FFEL) Program
Financial Aid Wizard
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