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Financial Aid for Higher Education

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Deciding on which college to go to can be the most difficult decision of your life. Even more difficult is the question of whether you should go to college at all. Financial constraints and the fear of living a life full of debts is what makes the majority of people back out from throwing in college applications to different universities.

Students, however, need to know that giving up is not the only solution. There are several ways in which you can get access to financial aid. And there are certain things you might want to pay specific attention to while applying for a financial aid program. The following is a list of all the important information you need to know before you apply for financial aid.

Before You Begin

  • The first and foremost thing you need to do is assess your current situation honestly. Determine whether you can pay for your college tuition or not and if you do need financial aid, how much is required.
  • Consider merit based scholarships as well. If your performance in school and extra-curricular has been outstanding, you can qualify for a merit-based scholarship.
  • You can get need-based scholarships in three forms:
    • Loans: you can get loans to fill the gap if you have another scholarship fund which is not sufficient. You need to start repaying the loan once you are no longer enrolled in the school.
    • Grants: these are available by the government or other organizations to needy students. Grants do not need to be repaid.
    • Work-Study: there are federal programs which offer jobs to students enrolled in colleges to pay off their tuition.