2. Exploring Financial Aid Options
Financial aid can significantly alleviate the burden of college expenses. Here’s how to explore and maximize your financial aid options:
Scholarships: These are funds that don’t need to be repaid. Look for scholarships based on academic achievement, extracurricular involvement, or specific interests. Many organizations, both local and national, offer scholarships.
Grants: Like scholarships, grants are typically need-based and don’t need to be repaid. The Free Application for Federal Student Aid (FAFSA) is the primary way to apply for federal grants.
Work-Study Programs: These programs offer part-time jobs for students with financial need, allowing you to earn money while attending school. Jobs can be on-campus or with approved off-campus employers.
Student Loans: While loans must be repaid, they can be a necessary part of funding your education. Understand the difference between federal and private loans, and be aware of interest rates and repayment terms.
Expert Insight: Start by filling out the FAFSA early to maximize your eligibility for federal aid. Also, regularly check for new scholarship opportunities throughout your college career.
