Overview and Important Terms for Free Money Toward Your Education
Written by Gloria Zhu   

Overview:
After being accepted to college, there arises the issue of paying for your education. That is where Money Economics comes in. We will help you understand what the Free Application for Financial Student Aid(FAFSA) is, the financial aid it will provide you with, and what you can do to find money to help fund your education. 
 
Important Terms:
Free Application for Financial Student Aid(FAFSA): The FAFSA is the federal application for financial aid from your state or school. This form is found online and determines your eligibility for student financial aid (including the Pell grants, and work-study programs).
 
Grant: A Federal Grant is an award of financial aid from the federal or state government. Grants are assigned according to a processed FAFSA and given to a recipient out of the general federal revenue to support or stimulate a cause authorized by a law of the United States. In this case, it is fulfilling an education. These grants are based on financial need. 

Scholarship: An award to a student to help them further their education through financial aid. Scholarships are awarded on various criteria and specific interests reflecting the values and purposes of the donor or founder of the award.

Scholarship based on: 
  • Your major 
  • Athletic ability 
  • Scholastic ability 
  • Religious affiliation 
  • Race 
  • Social activities

About the Articles:
 
A step-by-step Guide to the FAFSA: This article is for students from high school seniors on who are enrolled in school and seek financial aid. 
 
Federal Grant Programs and Work Study: This article explains two types of federal aid provided to college students.

Best ways to find resources and apply for scholarships: This article is catered to high school junior students to graduate students to help them find money to fund their college education. 
 
Outside Scholarship 101: How they impact your financial aid package: This article is specifically catered to college students who have received scholarships but do not know how it affects their financial aid package.



 
Last Updated on Thursday, 16 December 2010 20:53