What’s The Difference Between Merit And Need Based Financial Aid?
College financial aid falls into two basic categories: need-based and merit based aid. It’s important to know the difference between the two. Merit based financial aid, also known as non-need based aid, is generally awarded based on some merit qualification. This can be academic, great grades or test scores; athletic, the ability to catch a football; or social, organizing people for a cause. Therefore, the non-need category is generally referred to as merit-based aid. Need based financial aid is based on a family’s demonstrated financial need of what they can and can not pay towards college. Why It’s Important To Know The Difference Between Merit and Need Based Financial Aid But it’s important to understand how the categories are basically derived based on w ...
Can You Pay For College Without Student Loans?
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Here’s the $100,000 or quarter million dollar question depending if you’re considering private or public colleges – Can you pay for college without student loans? And the simple answer is yes. But we’re pretty sure you don’t believe the answer is that simple, otherwise why are there so many horror stories about people paying student loans into their retirement? Don’t Want Loans? Attend A College You Can Afford The answer maybe yes, but it also may not be that simple. First there’s the fact that there isn’t ONE set price for college. The cost to attend a four-year college can range from a low of $12,000 to over $70,000 per year. So obviously, college choice will have a dramatic effect on how much you’ll pay for college. The second reas ...
What is Financial Aid?
What is financial aid? The answer is obvious–money for college, right? Right! Of course, you probably realize that it can’t be as simple as that. And we’re sorry to be the ones to ruin a feel good moment, but saying college financial aid is simply money for college is about as meaningful as saying health care insurance is how you pay for your doctor. Yes, it can be a bit complicated. Let’s Start with the Basics College financial aid is money used to pay for college that does not come from the student or family when they pay the tuition bill. This leaves two other possible sources for paying the tuition bill. The first is money that comes from another source in the form of grants or scholarships. This is free or gift money used to pay the tuition. The second p ...