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First and foremost, do not allow the financial aspects of applying to school intimidate you or hinder your excitement. Tuition, room & board, and book costs increase perpetually, it's a fact! Secondly, there is good news! According to The U.S. Department of Education, as the price of higher education is steadily increasing, so is the amount of financial aid made available. In other words, some form of financial aid is available to everyone, including you! To ensure that you receive the max amount of financial aid money for which you qualify for, keep fully aware of all of your prospective school's perquisites and important dates.
Where do you think most financial aid and grants come from? A substantial size of aid and grants, the majority, is made available through the federal and state government and by schools. Contrastingly, the smallest percentage of college funding comes from private scholarships.
Whether you get a scholarship in conjunction with financial aid, or just receive financial aid solely, you should know where your aid is coming from and how and when you are expected to repay your financial aid. A form of financial aid, which most receive is an educational loan. This aid must be paid back and accrues interest. Educational loans can be categorized in three means: parent loans (e.g., PLUS loans), and private student loans (also called alternative student loans), and student loans (e.g., Stafford and Perkins loans). Lastly, there is the consolidation loan, which permits the borrower to combine their loans into one loan for one integrated, simple payment.
Financial aid is vital and a necessity for most people. Within your search for scholarships, grants, and financial aid, rule nothing out! In fact, trick your mind, assume you are eligible for any and all aid, and that no college is too expensive; additionally, follow through completing all FASFA paperwork, apply to your colleges of choice, and see what offers come in. Lastly, take control of your destiny and enroll into the school, that fits you best!