The Student Aid

I am a student like you and getting financial support for college education is  a common problem for us. The primary sources of money for educational expenses are either support from our parents, or financial aid from privately funded or  federally funded student loan programs, or scholarship grants. So continue reading this blog and find out the information for college education financing.

This blog is an informational guide for current college students, working students, and prospective college students on where they could get resources and other information for private and government funded student financial aid. I hope this blog would encourage students and other people to share information and materials on where and how to get financial aid for current or incoming college students.

Types of Student Financial Aid

The main types of student financial aid in the United States are private student loans funded and backed by private banks or lenders, federal student loan programs that are subsidized and guaranteed by the federal government, and scholarship grant programs offered either by the federal government or private businesses or organizations.

A student loan whether it is government or privately funded must be paid back by the student or guarantor, while a scholarship grant would never be repaid. The main disadvantage of a private loan is the high interest rate compared to a federal student loan that has a fixed interest rate.

Private scholarship grants could be obtained from companies, private foundations, and non-government organizations. The federal government offers several grant programs that could be distributed directly to the student.