College Financial Aid

Written by Seth Cotterell
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The sad truth is that the cost of attending college is always on the rise. The cost of college can seem daunting and some would-be students are just too intimidated to enroll. On the bright side, however, while the cost of college certainly is increasing, so is the availability of college financial aid. There are many potential sources of financial aid to help students serious about education overcome the financial difficulties of paying for college.

Types of College Financial Aid

College financial aid often comes in the form of scholarships. Scholarships are one of the best sources because scholarships do not have to be repaid. Scholarships are awarded based on factors like grades, athletics, community service and involvement, and race. Scholarships can also be based on factors outside of individual performance, such as financial necessity.

A second source of college financial aid is found in grants. Grants are similar to scholarships in that they do not have to be paid back after the student completes his or her education. It is free money given to students and is usually based on financial necessity. The government usually awards Pell and other grants, and many students will qualify for at least some grant money.

A third source of college financial aid is through student loans. Unlike scholarships and grants, students loans will have to be repaid after graduation. With a student loan, students borrow money from the government or a private organization in order to meet the cost of college tuition, and then repay the loan amount and possible interest after they have completed their degrees. Most everyone can qualify for a student loan of some sort.

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