Featured
Article:
Using
Preparation to Maximize Your
Financial Aid Awards
One
of the recurring questions posed to Top Colleges by potential
students is how to get financial aid to pay for school. “Financial
aid,” though sounding complex, is composed of only four parts:
grants, loans, scholarships, and work-study. Over the coming
months, our feature article will present information about
each one of these forms of financial aid. But, before we
do that, this month’s article will focus on how you can best
prepare to maximize the amount of financial aid you can receive.
Preparing
for Federal Financial Aid - Grants & Loans
The Federal government provides millions of dollars each
year so students can further their education and become
valuable members of the workforce. They control the standards
by which aid is awarded. A standardized form, the FAFSA
(Free Application for Federal Student Aid) needs to be
completed. For the 2004 – 2005 school year, the
application deadline is June 30, 2005. Once this
form has been completed and reviewed, a financial aid decision
will be made. If you qualify for Federal financial aid,
you will receive an award letter detailing what portion
are grants, what part are loans and what part is work-study.
The Federal government is the only provider of student
loans and a large supplier of grants, though grants may
be available through other sources.
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