When it comes to education, there are many areas to account for. One of the most important, depending on your financial situation, is financial aid. You should also know that there are different subcategories that, as a future student, you should research so that you know which one is best for you. Here are the 4 categories of financial aid detailed by Robert Jain. Regardless of what you choose, it will help you cover many of the expenses associated with education.
Grant - Unlike other forms of financial aid, as we'll discuss later, grants do not have to be paid. More often than not, they're provided to groups that are in dire need of it, either due to their education, personal situations, or what have you. Seeing as how grants are highly sought after, you may find it difficult to apply for one. Nonetheless, this is one of the many possible options that names like Bob Jain can tell you about.
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 - State aid is a complex topic, partially due to the fact that rules and regulations vary depending on where you live and the location of the campus. Furthermore, when this type of aid is used, students will have to pay back what they owe sooner. What this means is that, compared to federal aid, which we will discuss later, state aid can lead to more debt. It's important to know what you'll get into prior to applying for this.
Federal Aid - Lastly, and perhaps most prominently, federal aid is what most college students will apply for. It's also the most common form of financial aid, providing billions of dollars to students around the world on a yearly basis. Repayment options are relatively generous, which means that you don't have to worry about making immediate payments following graduation. The amount of money that you take out for financial aid will vary depending on your school as well, which makes research that much more important.
Grant - Unlike other forms of financial aid, as we'll discuss later, grants do not have to be paid. More often than not, they're provided to groups that are in dire need of it, either due to their education, personal situations, or what have you. Seeing as how grants are highly sought after, you may find it difficult to apply for one. Nonetheless, this is one of the many possible options that names like Bob Jain can tell you about.
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 - State aid is a complex topic, partially due to the fact that rules and regulations vary depending on where you live and the location of the campus. Furthermore, when this type of aid is used, students will have to pay back what they owe sooner. What this means is that, compared to federal aid, which we will discuss later, state aid can lead to more debt. It's important to know what you'll get into prior to applying for this.
Federal Aid - Lastly, and perhaps most prominently, federal aid is what most college students will apply for. It's also the most common form of financial aid, providing billions of dollars to students around the world on a yearly basis. Repayment options are relatively generous, which means that you don't have to worry about making immediate payments following graduation. The amount of money that you take out for financial aid will vary depending on your school as well, which makes research that much more important.
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