When deciding where to go to college, you shouldn't have to worry about cost. Yes, college is anything but cheap. But with the right planning and financial resources, you can successfully fund your college education.
There are three basic types of financial aid: student loans, scholarships, and grants.
You will want to start your search for financial aid with the Free Application for Federal Student Aid (FAFSA). This applies you for student loans, as well as some grant programs. Student Loans A loan is a type of self-help aid that lets you borrow money from the government, banks or other lending institutions. Since it is self-help, borrowed aid, it must be paid back with added interest. Loans can be awarded based on financial need (subsidized loans - the federal government pays the interest while you are still in school as at least a half-time student) or not on financial need (unsubsidized loans - you are responsible for the interest from the date the funds are disbursed).
You have to do your research to find a scholarship. Scholarships usually have certain criteria that need to be meet, like high grades or your personal background. You can start at your school's college office. High school counselors often receive lots of mailing about scholarships. Run an internet search on Google or Yahoo and you will find tons of websites with scholarship information. Go the library and search through scholarship books there. Do not procrastinate - start early. Scholarships have deadlines.
A grant is a type of gift aid that does not need to be paid back. The amount awarded is usually based on financial need and is generally provided by the government or the college you plan to attend.
There are many sources of financial aid available. The following resources are provided to begin your search.