A few years back, accessing tertiary education was nothing but a preserve of the better off in society. Many academic ambitions had to be abandoned prematurely just because of the skyrocketing costs of college education. However, the situation is different as of now due to the many grants and scholarships being offered to students. In as much as these facilities may not be adequate for each and every deserving student, the truth is that a good percentage of otherwise wasted students have and still continue to benefit. The good thing is that these facilities are available for public and private universities, colleges and schools.
Who Is Eligible For This Aid?
Many students have failed to take advantage of such opportunities simply because they rule themselves out. Before doing this however, it is important that you know who is eligible for financial aid for school. One's eligibility largely depends on the type of aid in question, and these may be classified into two as follows:
1. Merit-based: This includes grants and scholarships awarded by learning institutions and organizations to students who show exemplary academic achievements such as high SAT or ACT scores. Some may be awarded to students with special talents in fields such as music, sports or art, or display any outstanding personal characteristics.
2. Need-based: Need-based aid is a preserve for students whose parents or guardian can hardly afford to keep them in school. Different agencies are used to determine the financial status of applicants, such the Free Application for Federal Student Aid (FAFSA) in the US.
In many countries, some forms of scholarships or grants are limited to citizens or states, while a good number are usually available even for international students.
Financial aid for school usually takes three main forms. These are:
• Student loans
• Scholarships
• Grants
Loans are usually to be repaid once the student lands an employment opportunity in future. As for scholarships, all the tuition expenses of the students are taken care of, and very little is left to be paid. Such are issued by colleges, governments as well as certain external organizations. Unlike loans, grants are free cash rewards for paying fees and purchasing other learning materials, which is not to be repaid.
How to Access Aid?
The trick with getting these benefits is to start planning early. Late applications are likely not to be considered and actually show some lack of need on the part of the applicant. The first thing to do if you need financial aid for school is to fill the required forms such as the FAFSA form. You can then visit college websites to find out if any grants or scholarships are being offered. Apply for a couple of these to increase your chances. Even when some conditions look tough to meet, never rule yourself out if you desire to surpass your academic goals.
Financial aid for school comes in form of student loans, scholarships and grants. In case you need financial aid for school, the secret is to start applications early.
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