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Financial Aid

Financial aid is a term that refers to several forms of assistance that are provided to students from a range of sources. The three most common types of aid, from which most students receive funding, are scholarships, grants, and loans. A scholarship is generally awarded based on merit of academic or athletic talent, without consideration to the need of the student. However, some other scholarships might consider need as a basis for funding. Loans and grants, which are generally the opposite, being need-based, are provided by public or government funding. Wherever need is considered, the FAFSA or CSS profile is used to assess to student's financial ability to pay for the expenses of college. Merit-based scholarships that don't consider need are filed as an application with the university or program offering the scholarship.

Fast Facts

  • Savings are essential to good family financial management
  • The average private loan for students in 2007-2008 were $7,809

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Results 1-5 of 5 for "financial aid"

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