You can use loans, grants and scholorships to pay for college.
One of the most common reasons people forgo a college education is because they cannot afford the tuition; college tuition can cost thousands of dollars per semester. That being said, paying for college does not have to be a solo act. There are many different resources you can use to get money for college tuition.
Grants
Grants are an excellent method of paying for college, because you are not required to pay them back. Many organizations offer grants for college students. A grant can range in value depending on which organization is issuing the grant and your financial status. Nonetheless, even a small grant can be useful when it comes time to pay for books and course supplies. The federal government offers college students a Pell Grant. The Pell Grant is meant to offset the cost of secondary education for low-income students. You can apply for a Pell Grant by filling out a Free Application for Federal Student Aid (FAFSA).
Loans
Loans enable people to drive new cars, purchase homes and even seek a secondary education. College loans can be used to fund your education entirely or partially. In many cases, you are not required to pay your loan back until your have finished your education. The Stafford loan is backed by the United States Department of Education. If you are eligible you receive a low-interest loan you can use for a community college, university, trade or technical school. Depending on your financial need, your loan may be subsidized, which means the interest on your loan may be deferred for part or all of your education. Eligibility for a Stafford loan is determined via your FAFSA application.
Federal Work-Study
The Federal-Work Study (FWS) program is available through the college you attend. The work-study program is funded by the federal government, but the schools decide which students are eligible. If you are eligible for this program, you will participate in a work-study program wherein you work for the school to offset the cost of your tuition. The amount of hours you work depends on the amount of FWS money you have been awarded and the amount you are being paid per hour.
Scholarships
Scholarships are an excellent way to fund your college education because, like grants, you do not have to pay them back. A scholarship is a gift of financial aid awarded by a school, business, non-profit group or other organization. Typically, there are guidelines required to be eligible for a scholarship. These guidelines vary depending on who is awarding the scholarship, but they may include participation in an athletic sport, academic group and/or achieving high grades.
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