Danubian The Danubian Dreams Blog

Benefits of Applying FAFSA

There are many need based students who have been helped by Federal student aid to make their dreams come true. This financial help is mostly recommended because it’s either free, paid by government or have low fixed interest rates. Going for private lender must be the last option if you are not sure you can afford the fee and interest. The most important is the student to fill out and complete the FAFSA form so you will become eligible for any financial aid. In this way, you can choose your own type that is best for you.

You may want to take a look and know each benefit of the Federal student financial aid types:

Student Loans

–           Loans given by government are cheaper than those given by private lenders. It has fixed rate and money given is based on the family income.

Benefits:

  1. The government will be the one to pay for the Federal Perkins Loan and Subsidized Stafford Loan. This is as long as you are enrolled in the school.
  2. Middle-class and family low income students are helped by student loan through building a good credit history.

College Grants

–           Is like an award given to student and do not require pay back.

Benefits:

  1. Students that belong to middle class or low income may receive $2,445 each year.
  2. There are colleges offering institutional grants to their own students for the tuition payment.

Work-Study

–          Government offer a part time job to student on their chosen field to help pay college tuition.

Benefits:

  1. You can earn the money while you are studying you can use not only for your tuition but other expenses.
  2. It does not affect your financial aid status if you plan to apply for another one.

These are the three forms of Federal student aid you can get and their own benefits. Choose you think that best you can manage.

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