College Education: Scholarship Financial Grant or Financial Aid?
How much is the cost for a college education these days?
Is there an available financing scheme that fits into your needs and
We have to face one reality of going to college.
Many parents do a class-A double take when their children
are preparing for and looking forward to attending a community college
or a state university.
They know there are a lot of things which comprise the cost of college
education and the tuition fee is just a part of the big picture of
getting into college. Other everyday expenditures include food,
transportation, housing, pocket money, and other miscellaneous fees
which when added up can create a significant portion of the cost of
financing a college education.
It is so expensive that a lot of families in this day and age, even
those who belong to what some might considere the upper-class of
society, think about applying for financial aid. For most people, financial assistance such as college grants and
scholarships are the most plausible means of paying for a college education.
Grant and scholarship programs do not require students or the family to
pay back the funds received. These sources of money for college could be of two kinds.
The student's academic ability also falls under the
merit-base college grant and scholarship.
- The ones based on need: This is given due to the
financial inability of the student and the family as a whole, and
- The ones based on merit: This is given due to
the talent of the student in an area such
as sports or music.
Many times, college grants and scholarships may combine the "merit" and
"need" criteria to balance the whole financial aid process. A great many
students and their families are on the lookout for this type of
financial aid. However, college grants and scholarships are somewhat
limited compared with the growing number of students seeking them year
Qualifying students can still avail themselves of federal scholarships, and a
number of state scholarship programs exist as well. Some of which are
1. Federal or
National Pell Grants - this is a program funded nationwide
intended to endow assistance to any qualified undergraduate learner
pursuing postsecondary schooling. Grants and scholarships of this kind
are given to those who have not finished a baccalaureate degree.
The worth of the grant can vary year after year and will depend largely
on the financial need of the students, the expenses that will be
incurred while attending the chosen university or college, and the
availability of funds from the national government.
This type of grant will open opportunity for the students to avail
succeeding financial aid from the national government.
2 Federal Supplemental Educational Opportunity Grant (FSEOG)
- this is a program for ongoing undergraduate students with
outstanding monetary need. However, not all students can avail this
type of grant. This will depend on the eligibility of the students and
availability of finances of the concerned school.
Another form of financial aid that students and families can turn to is
the student loan. Unfortunately, this type of financial assistance will
have to be paid back. The financial needs of the family should be taken
into consideration in order to avoid paying high interest rates or
simply being saddled with a loan payment for many years after
It is also a must to understand all the terms of the lending agencies
such as the schedule of repayment and interest rates, before signing in
or making a commitment.
Work study is another form of financial assistance which calls for
students to do labor to sustain their college education. Work study is
commonly done on campus and is the most typical form of financial aid
in all universities and colleges. Usually, the students will render
service to schools for ten to fifteen hours per week or participate in
some similar program.
Scholarships, grants and other forms of financial aid used in order to
acquire a college education is really multifaceted, very confusing at
times, and even exasperating. The good thing is college education is a
non-refundable and non-biodegradable type of investment. It is for the
Want more information about financial grant?
Financial Grant News Headlines:
Financial Grant for College Selected Web Resources:
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