subject: Get Financial Aid For College And Don't Get In Debt! [print this page] Financial aid for college can be provided in many different ways: scholarships, loans, grants. Students are all different, but the good news is that, depending on how much is needed, some may find that 100 percent of the cost is covered by the student loan and financial aid package combined.
This sounds like a pretty good idea, but there are two problems. One is that student loans have to be repaid. More and more students are hoping to leave college without pulling a heavy debt load around for years. Another problem is many students don't receive such generous financial aid packages. They are often stuck with finding or earning a significant portion of the money they need for college.
Students don't generally like the idea of owing money from the very beginning. And, although student loan payments can be deferred when going through particular financial difficulty, the debt itself will always belong to the student. If students have a gap between the money saved for college and the money that needs to pay, then a student loan can seem like the most sensible option. However, remember that defaulting on your student loan can be very serious and lead to seizure of the tax return of the borrower.
Students who take action to search for financial aid for college will be able to find ways to avoid this student loan debt. When they start to apply for aid, the school may then give them a pack containing what they need to pay through loans, grants and scholarships.
When it comes to the best of the financial aid package, grants and scholarships are most desirable. They basically provide free money that never has to be paid back. However, a lot of students will accept the whole package, including the student loan. A better idea would be to carry on searching for ways to replace the loan you've been offered to make up the whole cost with financial aid.
Many college students are unaware that there are thousands of scholarship programs available. Most students will just accept whatever they are offered, and won't put any effort looking into more aid available. However, this could cost you a lot of money, as the truth is that there is aid out there for everybody. Certain scholarships may be aimed at women or minority groups, others may be aimed at top performing students. Some are aimed at even more narrow groups such as the very tall, or those who hold specific interests. By taking the time to look into the different scholarships available, and applying to as many as possible, students can find financial aid for college to cover their entire costs.
by: Jordan Meyers
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