Everything you need to know about Financial Aid.
Financial Aid is the key to making college a possibility for those who cannot afford expenses that comes with getting a higher education. There are several different ways to get access to money for college that some students do not utilize. Here are a few ways to make college a little more affordable.
Subsidized and Unsubsidized Loans
A subsidized loan is partially supported and paid for by the U.S. government. Direct Subsidized Loans are designed for lower-income, undergraduate borrowers. The government pays the interest on the loan while you’re enrolled in school at least half-time, or if you enter deferment or forbearance once it comes time to repay your student debt.
Direct Unsubsidized Loans, on the other hand, do not offer additional financial assistance. Even though they’re still offered by the federal government, the government won't pay the interest on unsubsidized student loans. This is because it’s a general loan not based on financial need, so borrowers must repay their debt in full, interest and all.
Aid from Schools
Schools also give financial aid apart from the government. Make sure with your school(s) to see how much is available and if it is for everyone or just need-based!
Federal Work Study
Look into work study if your school offers this program. Federal Work Study allows students to have part-time jobs on campus to help pay off their educational expenses such as tuition, room and board, etc. However, these jobs are limited. We advise you to look into acquiring these jobs as soon as possible!
Loan Forgiveness
Loan forgiveness is a program that offers graduates a way to help pay off their loans. In return for the government paying off a portion (or sometimes all) of a student's loans, that student must agree to work a specific job for a certain amount of time. Although this sounds like a dream, there is a catch to this type of aid. The jobs tend to be ones that are unpopular and not very liked by others. Look more into this before settling in to make sure that you can tolerate (or even enjoy) your position given!
Grants
A grant is an amount of money that a government or other institution gives to an individual or to an organization for a particular purpose such as education or home improvements. This type of aid allows students to have access to money without having to pay the government back.
Scholarships
This type of aid is sort of like a christmas present! Students are rewarded free money depending on the requirements that were made without having to pay them back! However, you must not forget the deadlines and keep a look out on what is required for the different scholarships that you choose to apply for. Also, visit your community centers and libraries to check in on local scholarships. Those tend to be the ones that people are less likely to apply for. For help on applying for scholarships:
Click HereFAFSA
The FAFSA is a free application online to see if students qualify for Student Aid Assistance. The application opens on October 1st. The website will be linked below!
Click HereCalifornia Dream Act
This is for people who are not U.S. citizens that still want to go to college to receive a better education. Look into this if this situation applies to you!
Click Here