How expensive is a college education in the US?
A college education is not that cheap as many would think. On average, a student spends over $10,000 to cater for the tuition fee in college. The amount increases as other expenses are added such as food and accommodation. And as such, many college students are looking for ways in which they can get financial aids to enable them to go through a college education. Fortunately for them, there are a number of ways in which the can get these financial aids very easily.
Here are the best ways to get financial aids for college students and how to apply them;
The Free Application for Federal Student Aid (FAFSA).
This is the largest pool of money that is available to finance the college students in the US. Every year the US government allocated over $120 billion to FAFSA where the college students can get financial aid in the form of grants, work-study or loans. The money is given to over 13 million college students every year which definitely shows that there is a likelihood for one to get the money. But before applying, it is important to understand the three financial aids offered and their implications;
Grants- These are financial aids that require no repaying. The students that get grants don’t pay back the money later, they are given free.
Work-study- They are financial aids that go hand in hand with work program such that one if given financial aid that they are expected to pay as they earn money where they work.
Loans- They are basically borrowed money that must be repaid. They are paid with interest which is generally low.
How do you apply for FAFSA?
To apply for the aid, one needs to fill the FAFSA form and submit it. By just completing FAFSA one qualifies for up to $30,000 in aid. But there is one more important thing to note. The Aid is only available for the students whose household income is below $250,000 a year. A copy of the family’s tax returns is required in the filling plus the bank statements that clearly indicate how much the student can be able to raise for the fee. Once one has completed FAFSA they are supposed to send it to the school that they will be attending and wait for consideration.
College scholarships.
There is also a number of colleges that offer scholarships to a few students. The good thing with these scholarships is that one is not required to repay back the money. However, it is worth noting that the scholarship slots are few and also they are mainly offered to bright students whose performance is exemplary high.
How do you apply for a college scholarship?
The application process is different for different colleges. However, the common one is that which involves filling scholarship forms from the college website. It is quite simple because one can submit it online. There is also another way that involves going to the financial aid office to inquire whether there are scholarships where one fills and takes them back and wait for consideration.
State aids.
Just like the federal government, many states in the US are offering financial aids to college students. These aids are given in the form of grants (No repaying), scholarships (No repaying and based on achievement) or loans (Must be paid back). There is a high likelihood of a college student to benefit from these financial aids.
How to apply for state aid?
The application process requires filling of the forms that one is interested in financial aid. They are also supposed to attach the family income return form and then wait for their application to be passed. Many states have agencies that look into the issue and ensure that those that qualify for the aid get the money in good time.
Financial aids from NGOs
Non-Government Organization has contributed and continue to contribute greatly to the wellbeing of society. And one way of doing that is by supporting college education by giving grants and scholarships. There are thousands of college students that benefit from NGOs financial aid every year which shows that it is an opportunity that any student should consider giving it a try. The good thing with these aids is that there is no repaying. There is also the benefit of being hired by these NGOs as soon as one completes education.
How do you apply for financial aids from NGOs?
The good thing is that in this era of technology and internet, one does not need to look for them physically. It is a matter of a looking for scholarship forms in their websites and filling them then submitting them online. They will go through the applications and once they decide to give financial aid to a given student they will send the money to their institution. It is, however, important to note that these grants and scholarships are mainly given to outstanding students in terms of performance and achievement or those students who are in deep financial problems.
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