College Financial Aid | Financial Aid for College | College Student Financial Aid | Financial Aid for College Student | Community College Financial Aid

Many students will need some type of financial aid for college. Luckily for them they have many different college financial aid sources to choose from.

In order to receive federal college financial aid from the government, a student needs to fill out the FAFSA application form.

Once the FASFA financial aid application is processed, you and the schools you have chosen will receive your personalized Expected Family Contribution (EFC) number. This is the number used to evaluate the amount of federal aid you can receive.

Student Loans

Student loans are money that is borrowed and must be paid back with interest. The different types of student loans you can choose from are:

Federal Subsidized Stafford Loans - Federal Stafford Loans that are offered to undergraduate and graduate students who demonstrate a financial need.

Federal Unsubsidized Stafford Loans - Federal Stafford Loans offered to undergraduate and graduate students, regardless of financial need.

Federal PLUS Loans - Federal loans for undergraduate students that are offered to parents to help finance their child's education.

Federal Perkins Loans - Low interest government loans made through a participating school to undergraduate and graduate students with substantial financial need.

Private Student Loans - Also referred to as alternative student loans, these are loans offered by private institutions that are very flexible and have higher limits.

Grants

A grant is financial aid for college which is offered from a federal agency to help you pay for your tuition. The best thing about grants is that they don't need to be paid back. Over 1,000 grant programs are offered by 26 federal agencies such as the Department of Education.

Scholarships

Scholarships are free money that is offered by everyone from colleges and churches to local cities and non-profit organizations. There are literally millions of scholarships to choose from as you search for college financial aid.

Work-Study

Federal work study provides jobs for both undergraduate and graduate students who exhibit financial need. It helps you earn money to help pay for your college expenses by working on or off campus or performing community service work. Plus, you even get extra spending money for the weekends!

Student loans are great financial aid for college students, as they help students pay for college. Many of them don't have to be paid back until 6-9 months after you graduate, and they can even be consolidated into one monthly payment to take away some of the financial stress that life in the real world can bring.

But don't forget about grants, scholarships and work-study opportunities, all of which are college financial aid.

Provided by Trish Smith