10 Facts about Financial Aid

Facts about Financial Aid will tell the readers about the student financial aid in United States. The funding is awarded for the students who reach the post-secondary education. The students will be financially helped so that they can complete the post-secondary education. The financial aid is given not only by the government of United States. The funding is taken from many sources such as the private agencies, educational institutions, state government and federal government. Let us get other interesting facts about financial aid below:

Facts about Financial Aid 1: the forms

The financial aid given to the students is available in a number of forms such as the scholarship, work-study, educational loans and grants.

Facts about Financial Aid 2: FAFSA

FAFSA stands free Application for Federal Student Aid, which should be completed by the students who want to apply for any federal financial aid.

Facts about Financial Aid 3: grant

Grant is one of the common financial aid for the students. The sources of grants are from private trusts, public, universities, colleges and government departments.

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Facts about Financial Aid 4: eligibility

The eligibility of the student to receive grant is seen from two primary factors. Both are the academic merit and financial need.

Facts about Financial Aid 5: the data

The data submitted by the students in FAFSA will be used by the agency to decide the eligibility of the students to receive grants.

Facts about Financial Aid 6: the common grants

The common grants in United States given to the students come in a number of forms. They are Teacher Education Assistance for College and Higher Education grant, Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Private and Employer Grants and Institutional Grants.

Facts about Financial Aid 7: state grant

The state grant is given by the state government to the students by checking their financial need.

Facts about Financial Aid 8: the private grant

The private organization gives the financial aid to the students according to the criteria.

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Facts about Financial Aid 9: education loan

Education loan is different from grants and scholarships. The students should pay it back plus the interest. The private loans, federal parent loans, federal student loans and consolidation loans are included in the options of educational loans.

Facts about Financial Aid 10: scholarships

The students do not have to repay any money if they earn scholarship.  It will be given to the students according to the financial need, academic merit, or athletic ability.

Are you impressed after reading facts about financial aid?