Scholarships and Financial Aid Tips

Written By: admin on September 5, 2010 No Comment

Scholarships and financial aid Facts

Scholarships- assistance in the form of money to pay for college Financial aid- can be in the form of scholarships and grants or student loans Most financial aid is provided on a need based basis while some are provided based on merit The federal government actually funds the bulk of the financial aid available There is no salary cut off for financial aid

There are factors that keep students from apply for financial aid because they don’t know much about it. Many students think that if their family size is small and their family is wealthy they won’t receive financial aid. But there is more to it than just that. Colleges consider family size, number of children in college and savings. So their are plenty of students that would be eligible but they don’t apply because they don’t know what the colleges look at for deciding who is eligible for financial aid. The following is an excerpt taken from Scholarships, Loans and Jobs: Getting Financial Aid 2008

I always tell families, don’t cut yourself off from the application process,” says Bonnie Le Behm, the director of financial assistance at Villanova University in Villanova, Pennsylvania. “Apply and let it work through the system.”

This is the advice that I have been posting about. Good minds think alot, hey it’s not about me though. The most important idea is that you have a financial aid application on file. One more important piece of information that I came across regarding financial aid through fafsa is their formula for calculating need. Cost- EFC= Need Now EFC stands for “Expected Family Contribution.” Once you got an application on file another important factor is applying every year. It is important to apply for aid every because your financial status may have changed. You may be eligible for financial aid that you weren’t eligible for last year. Reasons that this can occur is a new child born in your family, a lost job of your parents, moving out of a house and a few other scenarios. Easy Scholarships

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Tags: Financial, Scholarships, Tips