Free Financial Aid

Written by Seth Cotterell
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Financial aid resources are widely available to qualifying students. Eligibility requirements vary depending on the type of financial aid you are applying for and what type of provider is offering the aid. Some types of financial aid are completely free to students, others are not.

Student loans are not free to students. Though they are relatively easy to get and are a great source of additional money for college, student loans must be paid back once a student graduates or stops attending courses. Principal amounts must be paid back over the course of a structured payment schedule and interest charges are included in pay back amounts.

Free Financial Aid: Scholarships and Grants

Other sources of financial aid are free for students. Scholarships are an example. Some private scholarships might have a minimal application fee, but most government and institutional scholarships are one hundred percent free. Scholarship money does not have to be paid back, it is the students to use as he or she sees fit to pay for college related expenses.

Grants are another source of free financial aid. Like scholarships, grants do not have to be repaid. Grants are often awarded by the federal government on the basis of financial need. Other grants, like research grants, can be applied for directly and are used to cover the cost of advanced research in a specific field. You'll want to keep a close eye on application deadlines and get materials in as early as possible.

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