Financial Aid for College

Welcome to the Degree.com Financial aid resources. Our staff has compiled a wealth of resources to help you discover ways to fund your education. This resource is intended for undergraduate, graduate, and doctoral learners for both online or campus based college and universities.

The overall financial aid process is different for each student, but some things hold true for just about everyone. First, even if you don't think you will qualify apply anyway. There are many different variables that are involved in determining eligibility and just no way to know if you don't even try.

Financial aid needs to be on the top of your to do list when deciding to attend college and whether this is your first time filing or just need to know how to get the ball rolling, the staff at degree.com are here to help you discover your way to invest in yourself with a college education! Finding money for college studies is not as confusing or complicated as one might think.

The Free Application for Federal Student Aid (FAFSA) determines eligibility for Federal Student Aid programs as well as eligibility for many private grant/scholarship programs. Filing the FAFSA is essential even if you don't think you will qualify for federal financial aid.

Filing out the FAFSA is Never a waste of time for any student.

The financial aid information resources start here so check out the sections that apply to your unique situation.

Also be sure to contact both your school's admissions office, and your department to inquire about the availability of assistantships, tuition remission, scholarships, grants, and/or school-specific fellowships.

The US Department of Education states that more than 9 million students get grants or loans each year. with more than $83 billion this year alone. These are staggering numbers which tell us more or less that a good fraction of the American student population require some form of financial aid to complete their further education, and that without this system set in place, the average American may not be able to finish college at all.

The need for financial aid in university education has especially achieved further significance amid such difficult times. With the US economy facing a tough recession and the job market suffering serious cutbacks, the need for education, and more importantly, the financial means of comfortably acquiring it gains greater importance.

As such, many colleges, universities, and trade schools have financial aid counselors that can guide you through the process of finding the financing that fits your situation.

Having been a student myself it is always good to know your options and learn what is available and how to apply for it personally, so before you start applying for any old financial aid package available, do some research and get to know your options well so that you are better equipped to choose the financial packages that will address your financing needs.

Major kinds of financial aid:

• Federal Student Aid
• Student Loans
• Scholarships
• Grants
• Employer-based Reimbursements
• Military Assistance

Federal Financial Aid

The Federal Student Aid offers financial packages from the US government administered by the US Department of Education. It is perhaps the largest source of student financial aid in America and provides more than $100 billion a year in grants, loans and work-study assistance. If you're looking for financial aid, applying for a Federal Student Aid may be a good first move.

To start, applicants must fill out the online Free Application for Federal Student Aid or FAFSA, which is available free of charge at the Federal Student Aid website. The website provides financial aid applicants with a good overview to getting started on their FAFSA as well as clear guidelines to follow while filling up the application. This includes providing your personal information, your dependency status, plus your state for expanded options as well as gathering all the documentation you would need such as Social Security number, driver's license, income tax returns and the like.

The FAFSA is perhaps the most popular financial aid form widely used by nearly all two and four-year colleges and universities, to award federal student aid as well as most state and college student aid, so if you're looking to apply for financial aid, this is the best place to start.

Student loans

A student loan is a common form of educational funding, wherein students are able to borrow money to cover the cost of their education and are subsequently obliged to repay the amount borrowed after the student has graduated. Most students opt for loans as they are far easier to secure than grants or scholarships.

These are just some of the different kinds of loans available to students who need financial aid:

• Student loans (Stafford loans and Perkins loans) are low-interest loans borrowed from your school and funded by the federal government. These loans can be subsidized or unsubsidized.
• Parent loans (PLUS loans) are unsubsidized and are available to parents of students who qualify as dependents. The loan amount can cover up to any school fees not covered by other forms of financial aid.
• Professional and Graduate Student PLUS loans are available to professional and graduate students.

Grants

Unlike student loans, grants are far scarcer and more difficult to acquire, but are highly prized as they do not have to be repaid and is essentially free cash awarded to your educational funding. Grants are usually awarded to students based on their financial status.

Grants available include the Pell Grant and the FSEOG or the Federal Supplemental Opportunity Grant, both of which provide aid according to the financial needs of students, with most of it going to students who are in exceptional situations and need more aid than most.

There are also institutional grants that are available to help bridge the financial difference between the cost of attending college and whatever personal finances are available to the student.

Other grants come in the form of merit awards usually given to students who distinguish themselves through their academic performance and achievements.

Scholarships

Scholarships are an ideal way of funding your college education because unlike student loans, scholarships do not need to be repaid as long as all requirements are met.

There are many scholarships available, but these are usually reserved for students who meet special qualifications which can range from academic achievement to exceptional talent in sports to membership in minority or ethnic groups.

So explore your options, and pick from any of a number of ways to fund your studies. Don't let finances get in the way of getting a good education. With a lot of patience, perseverance and a little bit of luck, that degree you've always dreamed of will just be a two or four-year course away.

Research Study and Fellowships