Financial aid is intended to make up the difference between what your family can afford to pay and the cost of college. Students in their senior year are recommended to apply for financial aid.
How the system works:
-You and your family are expected to contribute to the cost of college to the extent that you’re able.
-If your family is unable to afford the entire cost (like most families), financial aid is available to help you pay for college.
Grants&Scholarships:
Also called gift aid. Does not have to be paid back and not needed to work to earn. Comes from the federal and state government, and from individual colleges.
Loans
Must be repaid. Payment begins after graduation, Don't borrow more than you need or can afford to pay back. Loans based on financial need are low-interest loans sponsored by the federal government.
Work
Student employment and work-study aid helps pay for costs such as books, supplies, and personal expenses. Provides you with a part-time job to help meet financial needs.
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