Understanding College Financial Aid

Getting a college education can be an expensive endeavor, but understanding financial aid opportunities can greatly reduce the burden. Financial aid comes in several forms, including scholarships, grants, and loans.

Types of Financial Aid

Scholarships and grants are forms of financial aid that don’t need to be repaid. They are often provided by educational institutions, private organizations, or government bodies. Loans, on the other hand, must be repaid with interest after you graduate. It’s important to explore all your options and understand the terms and conditions of each type of aid.

How to Apply for Financial Aid

The first step in applying for financial aid is to fill out the Free Application for Federal Student Aid (FAFSA). This will determine your eligibility for federal student aid. Many colleges also use the FAFSA to award their own institutional aid.

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