Message From The Dean

Check Out These Messages From the Dean of Education
Bob-Fulcomer

Message From The Dean

Bob Fulcomer

Different Types Of Financial Aid

When it comes to financial aid, students need to look at possibilities. Here are some of the main ones available.

Grants: Did someone say free money? Unlike loans, grants – which can come from the state or federal government, from the college itself, or from private sources – provide money for college that doesn’t have to be paid back. We’ll take this opportunity here to remind you again to fill out the FAFSA; many grants determine eligibility by looking at your FAFSA results. www.fafsa.ed.gov

Loans: If scholarships and grants don’t cover the entire cost of your tuition, you may have to take out a student loan to make up the difference. Federal student loans don’t have to be paid while you’re in college, and there are also a variety of loan forgiveness programs available post-graduation. The rates and terms are generally more flexible than private loans.

Scholarships: There really isn’t much difference between a scholarship and a grant, though the general consensus is that scholarships are primarily awarded for academic merit (good grades) or for something you have accomplished (volunteer work or a specific project); however, there are many need-based scholarships out there, as well. Like grants, scholarships don’t have to be repaid.

Work-Study/Work Award: The Federal Work Study program provides funds to eligible students, often based on FAFSA, for part-time employment to help finance the costs of postsecondary education. You could be employed by the college itself; or by a federal, state, or local public agency; a private for-profit organization.

It is Critical for students to do everything they can to help cover the costs of their education. This includes looking at what is available from the federal government, the state government, the colleges you are applying, scholarships, etc. There are opportunities for financial aid. You just need to be willing to go after them.

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