Category: Series
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Understanding Financial Aid: Loans
Today we come to the last topic in our series on understanding financial aid, loans. Student loans can be confusing and frustrating for many families. Federal vs private? Interest and APR? And what on Earth is a prepayment penalty? We are not finance experts, but there are many resources available to help students understand the…
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Understanding Financial Aid: Work-Study
The federal work-study program is an opt-in opportunity for students with financial need. Students indicate their interest in participating while filling out the FAFSA form, and may receive a work-study offer from schools as part of their financial aid offer depending on the amount of funding available and the level of student need. Not all…
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Understanding Financial Aid: Grants
After touching on scholarships, it only seems natural to discuss another “free money” component of financial aid — grants. So, what are the differences between scholarships and grants? Grants are almost always dependent on financial need Almost all grants require the FAFSA Grants are primarily distributed by universities, the federal government, or state government Grants…
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Understanding Financial Aid: Scholarships
In the world of student financial aid, scholarships and grants are thought of as “free money.” However, while grants are generally dependent on financial need, scholarships may be awarded for any number of reasons, including academic merit, student background, area of study, etc. There are thousands of scholarships available for graduating seniors and current college…
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Understanding Financial Aid: Expenses & Expected Family Contribution
The estimated one year expenses listed on your financial aid offer are likely listed as “Cost of Attendance” and the Cost of Attendance could be a detailed section or a single line item on your financial aid letter. It’s critical to examine this section carefully and ask yourself, “What isn’t being included?” If the CoA…
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Resources for Understanding Financial Aid
This month HRVHS students will receive acceptance letters and student aid offers from colleges. After the hugs and high-fives, it’s time to evaluate the financial aid packet, and you may find yourself asking, “What’s the difference between a loan and a grant?” “What is work-study?” “How do I even evaluate these aid offers?” We’ll discuss…