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Here we’ll talk
about ways you can pay for college and lower the
actual cost of going to college.
Financial Aid
Schools provide financial aid based on merit—your grades or athletic ability—or
financial need. The aid usually covers tuition and fees, but not room and board.
There are three types of financial aid:
Scholarships
and Grants
This type of aid is based on merit or financial need.
Getting a scholarship or grant is like receiving free
money—you
don’t
have to pay it back. There are all sorts of scholarships
and grants you can get, not only from schools, but
from churches and community organizations, too.
For more information on scholarships and grants go to FastWeb at www.fastweb.com or College Board at www.collegeboard.com. |
Work-Study
Programs
These programs are federally funded and provide part-time, on-campus jobs that
help you pay for college. Working while you go to school might make you appreciate
your education even more. It will take some practice to juggle your school assignments
and job responsibilities, but potential employers will probably recognize your
hard work. |
Student
Loans
Most financial aid comes in the form of low-interest, government loans that
must be repaid. The loans are based on financial need and don’t have
to be repaid until you graduate from college. If you are offered a loan, you
are not required to borrow the full amount of the loan, so borrow only what
you need. You might want to consider working at a part-time job to lower the
amount of money you need to borrow.
Student loans can be used in combination with other forms of aid. If you end
up qualifying for a scholarship, grant, or work-study program, you usually
won’t receive enough money to cover all of your college costs. Government
student loans can be a way for you to pay for the balance of college costs
not covered by other forms of financial aid. |
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