Financial aid quotes
The Dictionary meaning of financial aid says that it is economic assistance for a person or a cause that is deserving of it. This aid could be from a government, a philanthropic organization, a gift, a scholarship, a fellowship, from abroad, a grant, a grant-in-aid or a traineeship. The money thus given is to help people in need, a deserving university, a poor nation, deserving students who cannot pay fees, or to provide vocational training.
For Students financial aid quotes:
This includes aid for tuition, scholarships, stipends for living, textbooks and stationery, benefits for child car, work grants, and support for entrepreneurs. You can take financial aid quotes from local, state or even federal governments, the college of your choice, professional organizations, private charities, and religious institutions among others. The government gives subsidies to colleges, so that colleges can offer scholarships. Public universities too offer incentives for the students in their area. Some states give special financial packages to those who opt for certain educational streams like engineering or science.
Requirements:
The single most important requirement is that the person requesting the aid must work hard. Therefore good grades, especially in the subject that you want to pursue, are absolutely vital. It would help if the student, after researching various options, were to go to the college of choice, and speak to the Head of the Department about the academic requirements needed for aid. That would give the student an aim to work for.
Who is eligible?
Those who do not earn enough to support their childrens education
Single mothers
In case the student wants to take some special course which requires a move to another place, it is possible to get financial aid quotes from local organizations that would be willing to sponsor the student
Students who are bright but differently-abled
Those who have a GED or General Education Development certificate or a High School Diploma
Those who have a valid Social Security number
Those who are enrolled in a graduate degree program
Those who will certify that the aid will be used for the purpose it is given, and that they have not defaulted on any federal student loan
Those who are registered with the Selective Service, if required
Those who complete the FAFSA or the Free Application for Federal Student Aid. This can be obtained from the campus or can be done online at www.fafsa.ed.gov
Those who have their Federal tax forms and W-2s of the previous year
When to start seeking for aid:
People seeking financial aid would normally have to apply for them before January 1st. Therefore it would be advisable to get financial aid quotes much before January 1st, so that they can be thoroughly perused and studied.
How to calculate the aid package:
Work out, with the family, how much the family would be able to contribute.
Get financial aid quotes from not only the institution of your choice, but also keep a few options open.
Understand the eligibility requirements, so that you can work towards fulfilling them.
Your financial need or the quantum of aid that you would be qualified to receive will be the difference between the total cost and your EFC or Expected Family Contribution.
Once you have all the financial aid quotes you can decide on what would suit your particular needs.
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