Do you Need Money for College?
College is expensive and finding the money can be a challenge, however, there are people out there who can help.
There are several different types of ways you can get money for college. Some of the most common ways you can get money for college will be described here and how to get them. You will also learn about the different types of financing options for college are available, including scholarships, grants, and student loans.
Scholarships are basically moneys given by an organization, employer, or college for exceptional performance in academics or athletics. Some common organizations which give out scholarships include the Fulbright Endowment for Higher Education, National Endowment for the Arts, and different universities.
The scholarships are basically moneys which are paid to the university where you are enrolling by the granting organization. This typically pays for all your classes, possibly your dorm fees and books. You may have to supplement some of the minor costs, such as rent, lab fees, and other costs associated with college life.
Scholarships are not given to just anyone. You have to stand out from the crowd. Being the valedictorian or salutatorian of your high school graduating class is a good start in qualifying for a scholarship. You can also earn scholarships by showing exceptional talent in the Fine Arts, Performing Arts, Sports, Science, or Mathematics.
College grants are similar to scholarships. The difference is that a scholarship is usually directed to one particular university or another. Scholarships might also be limited to one particular area of study, depending on the organization offering it. Grants, on the other hand, are moneys which are given by the government or private organizations with the intent you use the funds for college. Typically, a college grant is money which is given to you to pay for either all or a good portion of your education and you have more leeway on what area of study you want to pursue or which school you want to go to.
Student loans are moneys which are loaned to you by a finance company, bank, or other financial institution to pay for your education. Unlike scholarships and grants, student loans are actually debt which has to be payed back with interest, much like any other loan, such as a car loan or mortgage for your home.
Many financial aid offices do offer student loans to qualifying recipients, and if you come from a low income family, you also have loans which might be available to you with lower interest rates.
Crowdfunding has been a new system that many students have began to use for financial aid. I am sure that many are familiar of popular crowdfunding sites, such as Kickstarter and Rockethub. Well, there are crowdfunding platforms available for college funding as well. There are sites like GradSave and CollegeFund to name a couple of them. The one thing about crowdfunding, however, is that it depends on how many people visit your platform and if there is enough appeal for them to get to fund you.
There are many other ways you can get the funding you need to go to school. By doing a little research, you can find the right funding for you.