what is financial aid in regards to education
Financial aid is the term given to money available to help students pay for the cost of higher education. There are different types of financial aid available, some of which requires repayment after students graduate from college.TypesSome financial aid is need-based, meaning that a student’s eligibility to receive the aid is based upon their own income or that of their parents. Financial aid can also be given on the basis of academic performance, athletic ability or membership in certain groups or organizations.FormsFinancial aid grants and scholarships are awards that do not require repayment, while loans must be repaid. Work-study financial aid programs give students a job on campus or at a company that participates in a school’s programs, and students can use the money they earn to pay for tuition.SchoolingFinancial aid is given for technical, vocational, community, junior and traditional colleges as well as for universities and graduate schools. Private elementary and secondary sc
