Very few families can afford to pay for college on their own. That’s why there’s FINANCIAL AID—money provided to students to help their families pay for their college education. Think of it as a treasure hunt with a college degree as the reward!
Here are some financial aid terms that you should know before applying for financial aid.
Scholarship: Money given to a student for good grades, sports, community service, or having a special talent. YOU DON’T HAVE TO PAY THIS MONEY BACK.
Loan: Money that a student or parent borrows for college. The student MUST PAY THIS MONEY BACK with interest when they are finished with college.
Grant: Money given by the government for students who are not able to pay for college. YOU DON’T HAVE TO PAY THIS MONEY BACK.
Financial Aid Office: Every college or university has a financial aid office that can help you answer questions on getting money for college!