how does finacial aid, for college, work?

You’ll get a loan from the gov. (Stafford loan).

And you may want a private loan. Majors are offering student loans (Citi financial, Chase, Wells, B. of America…), and you may ask your local bank/credit union.

If you qualify, you may get grants or a scholarship.

Good luck !

You apply for aid by completing the federal application at http://www.fafsa.ed.gov/. The results are sent to your school’s financial aid office who determine the type and amount of aid you are eligible to receive based on federal, state and institutional policies. The school notifies you in an award letter (either electronically or in paper form) and you indicate what you are accepting and what you are rejecting. In the case of loans you can also indicate if you want to borrow a lower amount that what has been offered to you. When your classes start the aid office credits all aid you have accepted to your billing statement at the school to pay all institutional charges (tuition, fees, room and board if living on campus, fines, etc.). Whatever is left over will be refunded to you to use for other educational expenses (living if off campus, books and supplies, etc.).

The government gives you a loan in which you can pay your tuition, books, living expenses ect. and upon your completion of college you can pay back your loan. Most loans grant you a 6 month period after graduation in which you are not charged interest on the loans. But after that you will pay your loan back plus the amount of interest which can be different depending on your interest rate.