Types of Financial Aid

On any given day, there are over 15 million people in America pursuing a degree at some level of post-secondary education. Half of these students cannot pay for school on their own, and therefore, must depend on financial aid in order to earn their degree. Fortunately, there are many forms of financial aid available to students.

Many students applying to college get an acceptance letter along with a financial aid offer. This means that a college or university has figured out, according to the family's income, how much money a student will need to pay for college. Unfortunately, too many of these students sign at the bottom of the page without knowing what the offer really entails for their financial future.

If you know financial aid is something you will need in order to achieve your educational and career goals, it is important to plan ahead and consider the pros and cons of each option available.

Some popular options for Financial Aid include:

• Scholarships - Academic Scholarships, Private-Sponsored Scholarship, Public-Sponsored Scholarship, Needs-based Scholarship, Skills-based Scholarship
• Fellowships - Academic Fellowships
• Grants - Federally Funded Grants
• Loans - School Sponsored Loans, Government Sponsored Loans, Private Loans