Paying For College

Front

What is a loan?

Back

A loan is money borrowed that must be paid back with interest. It is often used to cover college costs when other financial aid is insufficient.

Front

What is a scholarship?

Back

A scholarship is a financial award given to a student to help pay for their education, often based on academic or athletic merit, and does not need to be repaid.

Front

What is a grant?

Back

A grant is a sum of money given by an organization, often the government, to help pay for education, which does not need to be repaid.

Front

What is work study?

Back

Work study is a program that allows students to work part-time while attending college to help pay for their education.

Front

What is the difference between a loan and a grant?

Back

A loan must be repaid with interest, while a grant is free money that does not need to be repaid.

Front

What is federal student aid?

Back

Federal student aid is financial assistance from the U.S. government to help students pay for college, which can include loans, grants, and work-study.

Front

What is the purpose of financial aid?

Back

The purpose of financial aid is to help students cover the costs of their education, including tuition, fees, and living expenses.

Front

What is the FAFSA?

Back

The FAFSA (Free Application for Federal Student Aid) is a form that students fill out to apply for financial aid from the federal government.

Front

What are the eligibility requirements for scholarships?

Back

Eligibility for scholarships can vary but often includes factors like academic performance, extracurricular activities, and financial need.

Front

What is the role of a private lender in student loans?

Back

A private lender provides loans to students, which must be repaid with interest, and may have different terms than federal loans.