Understanding College Financial Aid

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What are the main costs of college?

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Tuition and fees, room and board, books and supplies, personal expenses.

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What is a scholarship?

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A type of financial aid that does not need to be repaid, often awarded based on merit or achievement.

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What is a grant?

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An amount of money given for college that does not need to be repaid, usually based on financial need.

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What is financial aid?

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Money that is given to help pay for a student's education.

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What is the difference between scholarships and grants?

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Grants are typically need-based, while scholarships are often merit-based.

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What is tuition?

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The fee charged by colleges for instruction and classes.

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What does 'room and board' refer to?

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The cost of housing and meals while attending college.

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What is a loan in the context of financial aid?

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Money borrowed to pay for college that must be repaid with interest.

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What is the FAFSA?

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The Free Application for Federal Student Aid, a form used to apply for financial aid.

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What is the purpose of financial aid?

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To make college more affordable for students and families.