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Is it easy to get student financial aid?

I ask about student financial aid because in a couple of years I’ll finish high school and, since I am on a budget, I can foresee that I’ll need some college aid. I searched for the college student fees and I don’t see how I’ll be able to afford to pay them.

Carlton Burgess

in Student Loans

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Jodi Brooks on August 28, 2018

In the USA, financial aid for students is funding available to students who attend a post-secondary educational center and need financial assistance to afford to pay the fees of their post-secondary education. You can obtain this financial aid from state, federal or educational institutions. It is also possible to get this financial help from private agencies or foundations. As you can see, there are several options to get financial support to pay the costs of your studies in college.

Although taking a private student loan is among the options to take into account to afford the costs of your college studies, they should be your last option. Unlike federal student loans, private loans are not subsidized or funded by the federal government. They do not offer flexibility in the repayment process and you will not have the protection that federal student loans offer.

Private student loans are funded by banks, credit unions, state loan programs and other types of lenders. Their interest rates are variable, which means that they can reset every month or quarter and your monthly payments will change.

The first step to apply for aid for college is to fill a form for the FAFSA, which is the Free Application for Federal Student Aid. If you know someone who has applied to get financial support, you may have already heard about the FAFSA.

The application process is not difficult but long. I advise you to apply as early as you can and get information about the deadlines to be able to meet them. There are different requirements for eligibility to apply for federal student financial help ( https://www.usa.gov/financial-aid ).

The following are some of them: you can apply if you have a financial need to afford the fees for students requested by the college or university that you want to attend, you are a citizen of the United States of America or an eligible noncitizen, you are in good standing on any federal student loans you may have, you were accepted for an eligible degree or certificate program by a higher education institution and you maintain adequate academic progress.

Wilson Hansen2 years ago

I had always heard that parents should start saving money to pay for the higher education of their children since those children were born, or even before. But when I was at primary and middle school I never thought about it. It wasn’t until I was in high school that I began looking for information on student financial aid for college. I was excited to follow my studies but at the same time, I was worried because I knew the university student fees were high.

Jordan Soto2 years ago

I had to submit my application to receive financial aid for college and I would not say that it was difficult to receive a positive answer. You only need to be patient. First, when you fill in the application forms. There are many questions to answer and it is better if you do not leave any space in blank because those questions aim at understanding your economic situation, so try to give as much information as you can. And then, you will need to be patient again after you submit your application because it is thoroughly examined and it usually takes several months before you get a decision. My advice is to ask for loans that are not very high and that you can be sure that you will be able to pay back in the future. This way, you will graduate without having a huge debt.  


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