What is financial aid?
Financial aid consists of scholarships, awards, grants, loans and student employment and is available through Vermont Tech, the state, and the federal government. Merit-based financial aid takes into account your academic credentials like SAT and ACT scores and grade point averages; need-based aid takes into account your financial need, which is the difference between the cost of a Vermont Tech education and your expected family contribution, or EFC. Various factors affect the EFC, including the size of your family’s income, and the number of family members currently enrolled in college.
Financial Aid is made available by federal and state government and private sources in the form of grants, scholarships, loans and employment. The State of California also provides a waiver of enrollment fees (BOG Fee Waiver) for students who qualify. The basis for such assistance is the belief that students (and the parents of dependent students) have the primary responsibility in meeting educational costs. Financial Aid is available only to help fill the gap between a family’s contribution and the student’s yearly academic expenses.
Financial aid is money provided to help bridge the gap between your own resources and the amount needed to pay the cost of attending college. The primary responsibility for meeting the cost of a college education rests with the student and family to the extent they are able to pay. A formula established by Congress and written in law, takes into account your family income and assets. When you apply for financial aid at Oregon State University, you are applying for gift aid and self-help programs. Grants do not have to be repaid and are based on financial need. Loans are borrowed money that you repay with interest to the lender. Educational loans usually carry a low interest rate and offer a grace period with repayment generally beginning within six months after graduation or when you stop attending school at least half time. Student loans are considered financial aid because of the special interest rates. Most student loans are subsidized by the federal government’ and repayment does n
Financial Aid is money provided by various agencies (federal, state and local governments, universities, community organization, and private corporations or individuals) to assist students in meeting the cost of attending college. It includes gift aid (grants and scholarships) and self-help aid (loans and student employment).
