What is Financial Aid?
What is Financial Aid?
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Financial Aid is a general term for ALL assistance given to a student to pay for College Education and can come in many forms.
Pell Grants are a grant from the govt and doesn’t need to be paid back. Scholarships from the school you are attending or a private organizations also do not need to be paid back.
There’s also work-study program where you can work within the school part time on campus. This qualifies as aid becuase the positions are limited and they go to those students who qualify.
the student loans are different from private loans becuase while a banking institution provides the loans, by law, the rates are lower and you don’t have to start paying the institution until 6 months after you graduate. also the interest you pay on the student loan are tax deductible.
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It is money either a grant or a loan used to attend school, normally a college.
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