For some, going to college means spending lots and lots of money. And why is that? Mostly it is because of the high cost of college education and tuition fee, not to mention the everyday expenditures (food, transportation, board and lodging, pocket money, etc.) that the student must bear and the numerous miscellaneous fees that are accumulated. This is one of the major problems of today’s parents.
Let’s face it, college education is very expensive. That’s a fact. That is why it is very important for a parent to plan ahead their children’s education. Even those who are in the upper class of society are having difficult times once they sent their kids to college. That is why every parent these days are looking for college scholarship or college financial aid.
A college funding and scholarship program does not oblige students or the parent to reimbursement what was spent for the education of the student. There are two possible types of college funding and scholarship. The first type is based on the need, this type of funding and scholarship is granted to a student wherein the student and its family (as a whole) are unable to pay for the education. The second type is based on merit. This type of funding and scholarship is given to those students who excel in a certain field, for example are sport athletes. Also, student who excel in the academic field also fall under this type of college funding and scholarship.
There are also some instances wherein the two types of funding and scholarship are combined to make the financial aid process easier. Lots of parents and students are looking for this type of financial aid. Unfortunately, there are not enough college funding and scholarships these days to compensate the increasing number of students yearly.
There are some federal and state scholarship programs these days that a qualified student can avail. Below are just some of the federal and state scholarship programs that a student can apply.
Federal or National Pell Grants – this nationally funded program is aimed to provide assistance to qualified undergraduates that want to purse post secondary education. This type of financial aid is given to individuals who have not completed a baccalaureate degree. This type of financial aid provides students to avail subsequent financial assistance from the national government.
Federal Supplemental Educational Opportunity Grant (FSEOG) – a program that is intended for continuing undergraduate students that has unresolved financial need. Unfortunately, this type of financial assistance is limited and not all students can avail this type of financial assistance. These are only awarded to students who are qualified and this also depends on the availability of the finances of the concerned educational institution.
Another type of financial assistance that a student or a parent can obtain is through loans. However this type of financial aid must be paid back. However, the financial need of the student or student’s family must greatly be considered first before availing this type of financial assistance to prevent high interest rates.
Always bear in mind that college education grants and scholarships, funding and other types of financial assistances are very complicated and quite frustrating. Fortunately, college education is an excellent type of investment.