From students attending Ivy League Universities, to those taking night courses at their local community college, we all need help financing our education. From books to housing to full tuition, there are loans out there just for a student’s needs. Almost every student will need financial help at some point during their schooling, no matter how big or small. Student loans are available through many lenders, and other types of financial aid can also be found.
Student financial aid comes in three basic forms: grants, loans and scholarships. Loans are borrowed funds you pay back. Grants are funds that are given to you based on certain criteria. Scholarships are funds you work for and earn, such as through an essay writing competition. Depending on your own unique situation, you’ll be eligible for a variety of student aid. Be sure you assess all your options and utilize all your resources. Obtaining as many grants and scholarships as possible is ideal, as loans are the only ones you will have to pay back. Determine how much can be covered by your grants and scholarships, and then use a loan to cover the remaining expenses. Speak with your school about possible financial aid options.