Student Financial Aid - The 3 Main Types of Financial Aid That Is Available To Students
Have you been on the lookout for information on obtaining funding for your education? If you said yes, this is definitely the article you have been looking for! I will go into some detail regarding certain aspects that might be confusing or misleading to you when trying to get your education paid for.
There are 3 main types of financial aid that is available to you if you are enrolling in college.
1) Federal Financial Aid
2) Private Financial Aid
3) School Financial Aid
In most cases, any type of financial help that you have heard about in passing will belong to one of these three categories. In order to qualify for financial support, certain requirements must be met. The most popular type of financial aid is that of the Federal Financial Aid. This type of aid is sponsored by private institutions. Names for this type of financial aid are as follows:
1) Stafford Loan
2) Pell Grant
3) Perkins Loan
The first thing every student should accomplish is to completely fill out the F.A.F.S.A., also known as the Federal Student Aid Form. This document is quite versatile and assists many programs in making the deciding vote if you are qualified for the assistance that they offer. By filling out this form, it also gives your college all the information required to contact you with the funding options that are available for you.
The next type of funding you should look into would be that of scholarships, grants, and loans supplied by private funding companies. You may get lucky and a company or organization in your area will offer up a scholarship to students of employee's who complete some type of community service.
A lot of times, you will be able to receive a scholarship funded by a private institution. This is a great way to go since a scholarship never needs to be repaid. Many times, your place of employment will offer scholarships for you to continue your education. Many times you can receive a grant from your place of employment as well. These do not need to be repaid but will have stipulations attached to them.
More often than not, the college that you choose to attend will offer their own brand of financial assistance. This may come in the form of a work study program or even a scholarship. Loans are not out of the question either. In order to understand each program that your school has available, you will have to talk to someone in the financial aid department since each school has their own guidelines and types of funding and can vary from one school to the next.
It is important to remember that nine times out of ten, you will be required to meet a certain level of G.P.A. in order to qualify for the college money that your school offers. Another qualification you might have to meet is that of your results on the F.A.F.S.A. They will look at this information to decide if you are eligible to receive the benefits that they are offering. Contacting your school's financial aid department is your best bet in making sure that you do not miss out on a scholarship, loan, or grant that is being offered.
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