Paying for College

 

There are three major ways to receive financial aid to help pay for college: scholarships, grants, and loans.

 

SCHOLARSHIPS: Students can earn scholarships from a variety of sources: from the colleges, college deparments, state scholarships, and private scholarships. Check our scholarship page to learn more about what scholarships are available to you.

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GRANTS: Grants are awarded to students based on need, and they do not need to be repaid. The most common grant is the Federal Pell Grant, which students apply for by filling out the Free Application for Federal Student Aid (FAFSA). The maximum award for 2015-16 was just over $5,500. Apply for a Pell Grant by filling out the FAFSA online.

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LOANS: Loans are given to students with the expectation that students will repay them when their schooling is complete. The most common type of load is the Federal Perkins Loan, which is a subsidized loan offered to students to help them pay for college and college-related expenses. Because it is subsidized, the interest on the load is lower, and students don't need to begin to repay the loan until nine months after the schooling is complete or they stop attending college. Though loans can be extremely helpful, be careful not to borrow more than you will be able to repay.

 

For more information on loans and grants, visit scholarships.com. or lendedu.com They have a wealth of information about paying for and preparing for college.