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Financial Aid

Here is a collection of articles to help you learn about financial aid:
Complete List of Financial Aid Options College Review Journal lays out the basics of how to fund your education with Federal Student Aid, grants and scholarships, investments, loans, military service, state agencies, tax credits, and work programs.
Financial Aid 101
You need money for college, plain and simple. You’ve listened to your high school counselor or your friends talk about financial aid, but you just don’t know where to begin.
Financial Aid Myths
If you are considering college you may receive financial aid advice (solicited or unsolicited!) from friends, family, or coworkers and never do the research to see how much of it is true. When it comes to getting financial aid for college, remember that you shouldn’t believe everything that you hear.
Full Scholarships vs. Partial Scholarships
Most prospective students hope to secure enough scholarship money to pay for all college expenses, including tuition and fees, room and board, books and supplies, and maybe a little extra just for fun. The chances of getting enough money to pay for all of those fees can be slim.
Grants vs. Loans
Although most people realize that the major difference between grants and loans is whether or not you must repay the money, there are other factors that distinguish a grant from a loan.
How Do You Apply for Student Loans?
Before you accept any loan, keep in mind that you should only borrow what you need because you will have to repay the loan with added interest. Don’t forget to resubmit your FAFSA each year to determine if your eligibility for federal aid has changed.
How to Apply for Financial Aid
Most potential students qualify for some type of financial aid but have no clue where to begin. The first step is easy—start your search early and apply!
How to Avoid Financial Aid Scams
We would all like to think that we are smart enough not to be sucked in by scam artists. The fact is that they are out there, and many people are victims of financial aid scams each year. Knowing how to identify a financial aid scam is the best way to avoid them.
How to Complete Your FAFSA
According to Federal Student Aid, which is an office of the U. S. Department of Education, $78 billion in new aid was awarded to nearly 10 million students and their families in a recent academic year. Most financial aid advisors agree that filling out the Free Application for Federal Student Aid (FAFSA) should be the first step in your mission to finance your education.
How to Find Financial Aid for College
Do you want to go to college, but don’t think it’s financially feasible? Whether you’re a recent high school graduate setting career goals, a professional considering an occupation change, or a homemaker looking to re-enter the workforce, you may have more financial options than you thought.
How to Find Grants for College
You’re aware that grants are the best way to pay for college, but how do you find them? Is there some giant book of grants at the library that you have to pore over? Do you have to fill out lots of confusing forms or write essays about why you should be the honored recipient of an organization’s coveted award? Finding grants is easy if you just do your homework.
How to Find Loans for College
By now you have probably filled out the FAFSA (Free Application for Federal Student Aid) and learned that you are not eligible to receive grant money for college. You know that you have to get a loan but just aren’t sure where to begin your search.
How to Find Scholarships for College
While there are scholarships available for practically any special talent, extraordinary intelligence, or volunteer service, finding them may prove to be more difficult than applying or winning them. The key is to be very thorough in your research, leaving no stone unturned, and to apply for a scholarship even if you think there is only a very small chance that you will receive it.
How to Pay for School (With No Money)
On average, a bachelor’s degree boosts your income by 63 percent, and a master’s degree can raise it an additional 20 percent. Investing in your education makes good sense, but there’s just one problem: how are you going to pay for school?
How to Write a Scholarship-Worthy Essay
An essay or proposal is often a requirement when applying for scholarships and grants so that the selection committee can see which candidates stand out from a large group of very qualified applicants. You could be competing with hundreds of candidates, and a well-written essay could be the factor that encourages the committee to award you thousands of dollars.
Merit Scholarships
Merit scholarships are generally awarded for special interests or academic, artistic, or athletic merit. A few merit scholarships do take into consideration an applicant’s financial need, but most are awarded based on one’s talent.
Scholarship Essay Tips
Your scholarship essay is your one shot at winning over the selection committee and, in turn, winning some cash for college. Remember that you want to stand out as the unique candidate in a sea of applicants. Here are some tips to make sure that you’ve covered all your bases.
Scholarship FAQs
What types of scholarships are there? Scholarships usually fall into two major categories: merit-based and need-based. Merit-based scholarships are based on excellence in a specific area while need-based scholarships are awarded based on financial need…
Tax Benefits for Attending an Online College
There are a couple of tax breaks for students attending an eligible educational institution, which the IRS defines as any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the Department of Education. Your school should be able to tell you if it qualifies as such.
The Benefits of Student Loan Consolidation
In a perfect world, every student would be able to graduate from college, find work quickly, collect a huge salary, and pay off student loan debt with all of that newfound cash. Unfortunately, life may have other plans for you like graduating, finding your dream job (halfway across the country), relocating, buying a house, marrying, having children, buying a bigger car, and the list goes on and on.
Types of Scholarships
Scholarships do not have to be repaid once you graduate from college. Most scholarships are merit-based, but some may be based on a combination of merit and need. Scholarships are not awarded by the government, so there is no limit on the amount of money you can receive.
What is a Grant?
Grants are amounts of money awarded to an individual or group in order to finance an activity. Grants are sponsored by federal agencies or other organizations and usually do not have to be repaid. Most student aid grants are need-based, meaning that you must meet a financial need to be eligible for them.
What is a Student Loan?
Student loans are loans offered to students pursuing a postsecondary education and must be repaid. The federal government usually issues student loans at a lower interest rate than private loans. Students may finance their education through private lenders; however, the interest rate is much higher and you may not be able to defer payments until after you finish college.
When Do Graduates Repay Loans?
You’ve graduated at last. Hopefully, you have a job ready and waiting for you or are very close to securing employment. As you’re admiring that crisp diploma, it hits you—I have to begin repaying all of those student loans. How does that work exactly?