Financial Aid: Solving of Students' Financial Problems

It is a common fact that education costs a lot of money and not every family can afford it. But there is a good way out – applying for a financial aid. Financial aid is money given by university, state or a private fund or organization to a student to pay fully or partially for his or her education. It is not easy to get financial aid, as you will have to contest with many applicants and to prove that you are the best. Following types of financial aid are provided for undergraduate students: Merit Based Scholarship – it is financial aid based on academic marks and achievements of a student, independently from financial position. The student isn’t allowed to work and don’t have to pay the money back; Need Based Scholarship – it is financial aid based on both financial situation of a student and his or her academic marks. The student isn’t allowed to work and don’t have to pay the money back; Athletic Scholarship – it is financial aid based on athletic achievements, but academic marks are also taken into consideration; Part-time Campus Employment – student is allowed to work in campus for certain quantity of hours per week thus earning money for education. In some universities this partial employment is obligatory; Co-operative Programs – these programs allow students to alternate periods of education with periods of work. Work usually starts at the end of second year of education and adds one extra year to four year education; University Loans – students receive loans and pay them back after finishing education; Advanced Standing – if a student wants to transfer to another university he or she can apply about it beforehand. It is not financial aid in its clear form, but it is a mean of reducing money expenses via reducing length of educational period. You may choose any way of financial aid that suits you and try to apply for it.

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