Are you preparing for the next chapter of your academic career? College and university alike provide numerous opportunities to those that are willing to learn and would like to achieve more in the future. To do so, you will have to account for the expenses, which is where financial aid comes into play. This comes in many forms, with some being more common than others. According to Robert Jain, here are the 4 forms of financial aid that are applied for the most.
Grant - Starting off this list is the topic of grants, which are financial aid that doesn't have to be paid. However, these tend to be more difficult to apply for since they are high in demand. Grants are also given to certain groups based on their backgrounds and education, which means that not everyone will be eligible. You may want to get in touch with your school to see what your eligibility entails. Reputable names in finance such as Bob Jain will tell you to do the same.
Scholarship - Another option that doesn't require repayment, scholarships are more often but provided based on certain variables. Did you perform well in your high school courses? Were you such a stellar athlete to the point where you were recognized outside of school? These are just a few situations where scholarships will be provided. Others will require students to submit written work like essays so that they will be eligible.
State Aid - Unlike the other forms of financial aid, state aid must be repaid at a later date. Not only do the guidelines associated with this type of aid vary by state, but students are usually tasked with paying it off sooner. This is one of the reasons why fewer students choose this, as they are more likely to go with federal aid, which will we discuss next. Nonetheless, this is another option that's worth looking into if you're curious.
Federal Aid - For those that are planning on attending college, this may be the type of financial aid you're most likely to earn. In fact, federal aid is the most common support that students across the board can obtain, which makes sense given that billions of dollars in aid are provided on an annual basis. These tend to be more flexible than student aid, especially in regard to forgiveness programs. However, it's recommended that you pay what you owe as early as possible so that you don't accumulate interest.
Grant - Starting off this list is the topic of grants, which are financial aid that doesn't have to be paid. However, these tend to be more difficult to apply for since they are high in demand. Grants are also given to certain groups based on their backgrounds and education, which means that not everyone will be eligible. You may want to get in touch with your school to see what your eligibility entails. Reputable names in finance such as Bob Jain will tell you to do the same.
Scholarship - Another option that doesn't require repayment, scholarships are more often but provided based on certain variables. Did you perform well in your high school courses? Were you such a stellar athlete to the point where you were recognized outside of school? These are just a few situations where scholarships will be provided. Others will require students to submit written work like essays so that they will be eligible.
State Aid - Unlike the other forms of financial aid, state aid must be repaid at a later date. Not only do the guidelines associated with this type of aid vary by state, but students are usually tasked with paying it off sooner. This is one of the reasons why fewer students choose this, as they are more likely to go with federal aid, which will we discuss next. Nonetheless, this is another option that's worth looking into if you're curious.
Federal Aid - For those that are planning on attending college, this may be the type of financial aid you're most likely to earn. In fact, federal aid is the most common support that students across the board can obtain, which makes sense given that billions of dollars in aid are provided on an annual basis. These tend to be more flexible than student aid, especially in regard to forgiveness programs. However, it's recommended that you pay what you owe as early as possible so that you don't accumulate interest.
About the Author:
Would you like to discover more regarding financial aid? Contact Bobby Jain for information.
No comments:
Post a Comment