3 Questions to Figure Out Financial Aid

• Admin
• April 13, 2015
• Financial Aid & Scholarships
• 515

You’re happy over the colleges that have accepted you and can’t wait to tell all your family and friends the news. However, after your initial excitement, one tiny question pops into your mind: how are you going to pay for it?

Perhaps you’ve received a financial aid letter from your college of choice. There are 3 questions you should be able to answer after reviewing your financial aid:

1. What is the total cost? Besides tuition, expenses like housing and books should also be taken into account.

2. Do you have any grants or scholarships?

3. Do you have any loans?

A U.S. News and World Report article presents a handy infographic explaining the common terms used in financial aid awards. Additionally, the Federal Student Aid website has a glossary on financial aid as a useful resource for students and families.

Increased knowledge on your financial aid will only arm you with more info to make that final decision on your college path.

(Source: U.S. News and World Report, Federal Student Aid)