Are you preparing for the next chapter of your academic career? College and university alike provide numerous opportunities to those that are willing to learn and would like to achieve more in the future. To do so, you will have to account for the expenses, which is where financial aid comes into play. This comes in many forms, with some being more common than others. According to Robert Jain, here are the 4 forms of financial aid that are applied for the most.
Grant - Depending on what group you fall into, or what your unique situation entails, you may be eligible for a grant. Not only do those that receive grants not have to pay back what they earn, but they can provide significant financial aid as well. Keep in mind that the competition for these is fierce, which is why names like Bob Jain recommend applying as early as possible. This will increase your chances of securing this type of financial aid.
Scholarship - If a high school student has a remarkable grand point average or is heavily involved in sports, they might be able to benefit from a scholarship. One of the reasons this type of financial aid is beneficial is, much like grants, repayment isn't needed. Furthermore, it will provide significant aid, reducing what a student would have to pay otherwise. Some scholarships will require additional tasks, like essay writing, so be mindful of the guidelines of the opportunity you'd like to try for.
State Aid - When it comes to forms of financial aid that must be paid, state aid is a good place to begin. Not as many students apply for this compared to financial aid, which is due to a couple of reasons. Keep in mind that students that apply for state aid will have to pay it back sooner. Additionally, the rules regarding this type of aid may be different depending on your location. Keep this in mind when researching so that you have accurate information to work off.
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 - Depending on what group you fall into, or what your unique situation entails, you may be eligible for a grant. Not only do those that receive grants not have to pay back what they earn, but they can provide significant financial aid as well. Keep in mind that the competition for these is fierce, which is why names like Bob Jain recommend applying as early as possible. This will increase your chances of securing this type of financial aid.
Scholarship - If a high school student has a remarkable grand point average or is heavily involved in sports, they might be able to benefit from a scholarship. One of the reasons this type of financial aid is beneficial is, much like grants, repayment isn't needed. Furthermore, it will provide significant aid, reducing what a student would have to pay otherwise. Some scholarships will require additional tasks, like essay writing, so be mindful of the guidelines of the opportunity you'd like to try for.
State Aid - When it comes to forms of financial aid that must be paid, state aid is a good place to begin. Not as many students apply for this compared to financial aid, which is due to a couple of reasons. Keep in mind that students that apply for state aid will have to pay it back sooner. Additionally, the rules regarding this type of aid may be different depending on your location. Keep this in mind when researching so that you have accurate information to work off.
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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Would you care to learn more about financial aid? Consult Bobby Jain for information.. Unique version for reprint here: The 4 Forms Of Financial Aid Covered By Robert Jain.
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