What College Financial Aid is and How it Works taken from A Guide to Understanding Financial Aid for College by Farran Powell and Emma Kerr College financial aid helps students and their families by covering higher education expenses, such as tuition and fees, room and board, books and supplies, and transportation. There are several types of financial aid:
Different types of aid are provided through various sources, such as federal and state agencies, colleges, high schools, foundations and corporations, to name a few. The amount of aid a student receives depends on federal, state and institutional guidelines. STEP 1: Start at the beginning: STEP 3: Know your terms Here is an article on Grants vs. Scholarships vs. Loans A few thoughts on Stacking Scholarships STEP 4: Federal Aid Options: Watch this video for an overview. Here are some resources to better help you understand different types of Federal Aid.
What are the differences between Stafford and Perkins Loans? Click HERE to find out STEP 5: Private Loans
STEP 6: How to appeal https://www.affordablecollegesonline.org/college-resource-center/appeal-financial-aid/ https://www.nitrocollege.com/blog/4-times-you-should-appeal-your-financial-aid-award STEP 7: How to take the offered aid! Check out this article on Accepting Aid STEP 8: Comparison spreadsheet
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March 2020
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