A College Financial Aid Primer

Students need to call upon several sources to cover the massive expenses college drops on them. Unless they’re independently wealthy or have a large college fund set up for them, they’ll scramble to come up with the funds to pay for tuition, fees, books and living expenses.

A post at 20’s Finances runs down some means students can use to pay for school:

* Grants and scholarships. The sweetest variety of financial aid, these freebies often come to you via academic achievement, hard work in filling out applications and good old-fashioned searching. Students build the rest of their aid packages from the base of whatever grants or scholarships they receive.

* Loans. Students sink into a tapestry of debt to cover outstanding expenses. The most attractive options are subsidized loans they don’t have to pay back until after graduation, but what they’ll be offered depends on their income and resources. Filling out a FAFSA form is the first step to finding out which loans they qualify for.

* Work study. Often offered on a case-by-case basis, schools often cut tuition in exchange for labor. Work study trumps regular campus jobs because the money they pay in college fees usually far surpasses standard, low-end wages.

Different Types of Financial Aid [20’s Finances]