For me, college is something that I really look forward to after graduating high school. I am extremely excited for the next step of my life! With college, there are various factors that are necessary to ponder upon: application fees, the distance from my house, tuition, room and board, cost of books, cost of travel, necessities, and personal expenses. However, the most important factor of going to college is financing. Without proper financing, there is a huge risk for a gigantic pile of debt. To attend college without any debt, I ought to research my options: scholarships, college grants, work-study, summer jobs, and loans. Two colleges that are on my list are include ASU and Stanford. I would love to study at either one of these colleges. …show more content…
The grant I think I would qualify the most is the Federal Pell Grant. This grant is for any student attending college in financial need ("Federal Pell Grants"). The amount of money is based on financial need, the amount to attend a specific college, and the total time spent in college ("Federal Pell Grants"). A second type of grant is the Teach Grant, a grant for people considering a career in teaching (“TEACH Grants”). In the future, I do not see myself as a teacher, but if I ever change my mind, I would definitely consider this grant. The downside to grants is the possibility of having to repay the money given ("Grants and Scholarships"). Fortunately, this is only required if a student withdraws from college without graduating or if additional financing is received ("Grants and …show more content…
However, depending on the type of loan, there is a possibility of paying the money back after graduating college ("Types of College Loans"). Three types of loans are “Need Based”, “Non-need Based”, and “Private Loans” ("Types of College Loans"). If a loan is necessary, the best strategy is the “Need Based” loan ("College Loans: Your Strategy"). The “government pays off the interest fee” ("College Loans: Your Strategy"), and there is no need for good credit. To ensure the possibility of attaining a “Need Based” loan, one must be sure to “meet all financial aid deadlines and special requirements” ("College Loans: Your Strategy") and fill out all the necessary forms (college 3). One of the forms is FAFSA (Free Application for Federal Student Aid), which must be completed “after October 1 of senior year” ("College Loans: Your Strategy"). However, if one does not meet the requirements for a “Need Based loan”, parents can apply for the Federal Direct PLUS Loan to borrow money for college Otherwise, a “Private Loan” may be chosen as a method. Usually, it requires another person to agree to pay off the money– just in case the student is unable to do so ("Types of College Loans"). The student might have no credit or simply bad credit, which requires agreement of a second person ("Types of College Loans"). Besides considering the interest rate, one must read the terms of a loan contract. Hidden
Along with scholarships, fellowships, and grants, student loans are an important method of financing post-secondary education. With tuition costs rising, more students are borrowing to pay for college education today. However, not all students realize the burden of paying back their student loans. Many are defaulting.
Every new term a school needs a way to fund its school. Free Application for Federal Student Aid is needed at all colleges for a student to be able to pay their way into the school of their dreams. This form is used to determine the amount of money a family is expected to contribute to the price of attending a postsecondary institution. The results of the FAFSA are used in determining student grants, work study, and loan amounts. Students have two options when preparing their annual, federal student aid application: either prepare the form on the U.S. Department of Education's website or get assistance from a fee-based FAFSA preparation service. Most financial aid is provided on a first-come, first-served basis, and students are encouraged to prepare and submit a FAFSA on the day it opens, January 1 of each year, using income estimates to be updated after taxes are
"Life isn't about waiting for the storm to pass, it's about learning to dance in the rain." This is my all-time favorite quote. It is my motivation when the skies around me become cloudy. It is the fuel that feeds my ever-growing hunger to dance. Living by this motto will help me achieve my goal of becoming not just a professional dancer, but also an inspiration to others. My strong extracurricular background provides for a solid base, serving as a great steppingstone as I reach closer and closer to making my dream a reality.
There are different types of financial aid available to students such as grants, scholarships, and loans. There are a lot of these types of financial assistant available for students to have access to. There are many websites available online that have all different types of scholarships. Some scholarships have certain requirement such as race, GPA, demographic, parent’s income, etc. Others require students to write an essay and others only require students to only apply. Grants are given to students and are money that is not required to be repaid. Most grants are federally and state funded. Loans are money borrowed and is required to be repaid and in most cases with interest.
Pell grants. And much of that money would provide a free education to students whose families can already afford it.” It doesn 't make sense to give students that can afford college free college, if the government wants to help low income students increasing the amount of financial aid that is given out each year would be the best thing to do “At age nineteen, only around 20 percent of children from the poorest 2 percent of families in the country attend college. For the richest 2 percent of families, the same number is around 90 percent”(Bruenig). With Free college low income students would have a bigger disadvantage because At public colleges, students from the poorest fourth of the population currently pay no net tuition at either two-year
My purpose and goals in attending college is to make something of my life. It is a good thing. No one wants to be a nobody. But sometimes it takes time in order for one to realize this. & nbsp; Upon graduation from high school, I, like the majority of others high school graduates, had no clue what direction my life was heading or even what I wanted to become.
...o funding her education with grants and scholarships (Gormus 11). Since scholarships do not need to be paid off through interest, students do not have to worry about future debt. Hence, in the future, a student 's focus can be directed towards other aspects instead of earning enough income to satisfy fines.The weakness presented by this solution is the time required. Scholarships often call for essays, and there is no guarantee that a student will get the scholarship. Due to this lack of assurance, scholarships can appear as a risk that is not worth the effort.
When students are finishing off their senior year in high school, they begin applying to college. Many people are blinded by how much after high school education actually cost. Scholarships, financial aid, military benefits, and student loans are all common ways of paying this dreadful tuition. All of which are great free resources to help a person further their education, except student loans. As implied by the name, student
Many colleges in the the world can cost a great amount of money to attend. Without saving money or creating a college fund, a student will have a very difficult time to pay for college. Students that have not saved any money towards college, use student loans. Student loans can be helpful for some situations, but just
For this reason, all students are eligible to apply to student loan programs, which although popular, is an ineffective system. Through these programs, the high end of the middle class will likely get very little, if any loans, even though they might not be able to afford such expenses out of pocket. Middle class families will be expected to pay for a large portion of the schooling on their own, when that may not be attainable. This often prevents students from attending their desired institution, or any institution at all. These programs also fail to consider that students may not have a good relationship with their parents or guardians.
Under the present system, all students applying for federal aid file a form called the Free Application for Federal Student Aid (FAFSA). This form is meant to figure out the amount of money a family is able to shell out for an education, or the Expected Family Contribution (EFC). Assuming the student does not qualify for independent status, both the expected contributions from the student and the parents are included in the EFC. In order for a student to get independent status you have to be married or over the age of twenty-four. After filing the FAFSA, the student will receive back a Student Aid Report (SAR) which includes the Expected Family Contribution. The way most schools determine the amount of aid you will receive is to subtract the Expected Family Contribution from the total costs of the university. Total costs include such things as tuition, room and board, insurance, and other miscellaneous expenses. The student receives the difference in loans and grants. A loan is financial aid that will have to be paid back, normally after the student graduates. A grant does not have to be paid back. A scholarship...
Grants, scholarships, and loans are the most popular forms of financial aid. To be eligible for college grants and/or scholarships, students have to meet a certain criteria. Income is an important asset to receiving most grants and scholarships. FAFSA is based off a students and/or parents income, and if the parents make over a certain amount of money, the student does not qualify for certain grants or scholarships. It is easy to see that it is close to impossible for middle-class families to pay for college when they have a mortgage and more than one child. Some instances parents do not financially support their child, forcing their child to work after high school graduation to support them self. It’s not very fair for financial aid to be partially based off of parents or guardians income as well as the
4 | Page Should the U.S government provide more grants And scholarships for both graduate and undergraduate Students? By Rebekah Ingram March 14, 2017 Mr. Wilson – English 4 The Focus of the government provided welfare for students with the work relief of and large programs the government also provided with students with less advantages then others. Grants providing for graduates and ungraduated well thought out to get into college. Despite its work relief elements and large government programs, the New Deal is best understood as a defense of American capitalism because its main programs attempted to create a stable environment for private enterprise.
scholarships and many other forms of receiving money to be able to pay for college without
When both sides are examined, merit-based aid seems like the best choice when compared to need-based aid. There are two different types of financial aid for college students, merit-based aid and need-based aid. Merit-based aid is given to students with good grades and allows them to not have to pay the full price of college tuition. This allows students who work hard in school to reap some form of reward for their efforts. Need-based aid gives students the ability to continue their education, when they would not have the money for college otherwise.