Hello! I'm a junior and I'm starting to think about college expenses. What resources are available for financial aid? Are there any scholarships or grants I should be aware of? Any advice on where to start would be super helpful!
Hi there! It's great that you're being proactive about college expenses. There are several resources available for financial aid, and I'd be happy to point you in the right direction. To start, here are three main types of financial aid you should be aware of: scholarships, grants, and loans.
1. Scholarships: These are awarded based on merit, such as academic achievements, athletic skills, or other talents. You can search for scholarships using online databases like Fastweb (www.fastweb.com) or Scholarships.com (www.scholarships.com). Additionally, many colleges offer their own scholarships, so be sure to check the financial aid pages of the schools you're interested in.
2. Grants: These are need-based financial aid that doesn't need to be repaid. The most common grant is the Pell Grant, awarded by the federal government. To apply for the Pell Grant and other federal grants, you'll need to fill out the Free Application for Federal Student Aid (FAFSA) at fafsa.ed.gov. Many states and colleges also offer need-based grants, so again, make sure to check with the schools you're interested in.
3. Loans: While loans are not free money, they can help cover college expenses. Federal loans usually have more favorable terms than private loans, so it's best to exhaust federal options first. You can apply for federal loans by completing the FAFSA as well.
Remember to start your search early and apply for as many scholarships and grants as possible. Best of luck in your college journey!
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