Financial Aid Questions and Answers

With the economy performing quite poorly in many parts of the world, financial aid and scholarships have become probably the two biggest topics when it comes to applying to college. It may seem like a daunting task but you really have to do your research and find out which schools will give you the most money when it comes to the financial aid process. But how exactly do you go about it?

There is a large number of resources out there for applying for financial aid and all that comes with it. The first thing you have to know about is the FAFSA, which can be found at fafsa.gov. The Free Application for Federal Student Aid is the chief resource of getting need based loans and scholarships. By filling this out, you let the government know what financial state your family is in and how much money you will need in terms of financial aid to be able to pay your way through college. This is where most of your loan funds will come from.

Another place you can go to get info about a specific school’s financial aid is their own official school website. They usually post what requirements are needed for certain scholarships. A lot of the time schools will be flexible with it but don’t take anything for granted. Sometimes you can go over the requirements and still not get the scholarship you may feel like you were entitled to. Financial aid can be a very tricky process in the end.

The best place you can go is the College Board. They have financial planners to help you pay for college as well as scholarship searches that help you locate specific scholarships that can put you above your peers and make it much easier to pay for college in the end.

Loans and and scholarships should certainly help you get through college unless your family has enough funds but that’s probably not likely especially in this economy. Scholarships and loans are becoming some of, if not, the most important factors when it comes to picking the college for you, so choose wisely.

Since more and more students are settling for more affordable schools, there are going to be fewer scholarships passed around as enrollments increase. You’re really going to have to earn what you get so work as hard as you possibly can and study for hours upon hours for the SAT and maybe entrance exams. It may not seem worth it at the time, but qualifying for scholarships will certainly prove that it was worthwhile!

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