subject: How To Apply For Financial Aid For College? [print this page] If you think you wont be able to afford your college years, then you might want to consider getting financial aid. Financial aids abound in the United States from both the federal government and private institutions.
Types of Financial Aid
Federal student loans are provided by the United States government to students who wish to pay for their tuition fees and other expenses during college. On average, an ordinary college student in the United States ends up with more than $7,000 in debt before he or she graduates.
Depending on the conditions of the loan, most of these students have to repay their loans within five or ten years. Those who have larger dues have to find higher-paying jobs after college immediately to pay off the interest and the loan itself.
Do Your Legwork
The legwork that grants and loans require involves the federal government and the educational institution. After getting the requirements for federal subsidy, do research on the specific requirements of the college.
The requirements used for FAFSA are also used by educational institutions to gauge just how much a student is eligible for student aid. In a way, such requirements are cross-referenced to each other, especially when a university asks for its own copy of tax returns.
Merit-Based Grants
If youre after scholarships, make sure that you have the proper qualifications. If youre particularly good in sports or in academics, or in specific fields in intellectual activity, then youre bound to find a scholarship that supports your interest.
As a rule of thumb, you should be as competitive as possible. Your application, which would often involve an essay, should be as creative as possible. This applies to migrant students who wish to stay in the United States to complete their higher studies.
Aside from universities, you may also try to find organizations in your larger community that support university students. The amount you will get from these smaller organizations would be lower, but at least youre still getting some help. Some students apply for one or two scholarships to get through their studies. Its not illegal, and its not impossible.
However, the grant you received from your educational institution may adjust itself if you acquired funding from somewhere else. This is only fair, as your status as a dependent on the university is altered, no matter how modestly.
Rules of Thumb
Never lie to a scholarship officer, and never hide information from your university. Such mishaps can and will be found out. There are ways in which universities verify whether a family is really in need, or whether a student is not receiving funding from other sources. Do not try to cheat the system; the system is capable of hitting back.
If youre denied a loan, try other avenues. Leave the situation as it is. Theres no need to make it appear that youre poorer or needier than you really are. If youre not approved for a scholarship in one year, you may try the next. In addition, you may send out applications to as many organizations as you wish to make sure youre maximizing your chances of getting a grant.
by: frenn
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