Most likely, every campus has a well-worn path to the Financial Aid Office. For most students, financial support through Federal Aid and institutional aid makes attending college possible. The keys to receiving as much financial aid as possible are finding out the deadlines for applications and applying early. There are many types of aid available to students, and with so many options the best advice is to get to know your financial aid advisor and decide what type of aid is best for you.
~Grants. Money “granted” to students is free money that the student does not have to repay. Grants can come from federal, state, or local governments, as well as private organizations. Many grants are awarded based on financial need.
~Loans. Loans describe money that students must pay back, called the principal, along with interest to the lender for allowing you to borrow the money. Some loans require that the student pay back the interest while in school, and for other loans, the government will pay the interest while you are in school and you begin repayment after you are out of school.
~Scholarships. Students receive scholarships based on talents, abilities, or other special designators. Much like grants, scholarships do not have to be paid back. Scholarships are can set up by private donors, organizations, or companies to award students for their achievement or skills. Scholarships may be available for athletes, dancers, student leaders, and much more.