2006-06-20 05:48:16 · 15 answers · asked by Tobias P 1 in Business & Finance ➔ Small Business
If it's a loan, yes. If it's a grant or scholarship, then probably not. But, sometimes with grants or scholarships, you have to give back another way - such as work in a specific field or area for a predetermined amount of time.
2006-06-20 05:51:02 · answer #1 · answered by zippythejessi 7 · 0⤊ 0⤋
Some of the Financial Aid you have to pay: like loans for instance; they are borrowed by students or parents and must be repaid. But things like grants and scholarships, students do not have to earn or repay. There is one more part to the Financial Aid that is called Work-Study; students work on campus and the money they earn pays for their college. Aid is available to make up the difference between what families can afford ans what colleges cost. Most aid is given to students the basis of needs, some scholarships are awarded to students for outstanding achievements, such as athletic skill or academic merit, regardless of family income. Aid is available through federal/state governments, colleges, foundations, unions, community groups, and banks
2006-06-20 13:18:27 · answer #2 · answered by CM 1 · 0⤊ 0⤋
And remember, if you don't pay the loan back, they will take your taxes or garnish your wages or do whatever it takes to get it back. And they usually add on fees that way outpace any interest charges. Not that you were thinking of skipping out on a loan- just some more info for you.
2006-06-20 13:01:15 · answer #3 · answered by 30something 1 · 0⤊ 0⤋
Only if it is a loan, some aid is grant and funds.
stafford and plus are gov't loans you have to pay back.
dont take the loan unless you need it, cause it's the govt's and they will get their money no matter waht.
2006-06-20 12:52:02 · answer #4 · answered by eg_ansel 4 · 0⤊ 0⤋
If you drop out before a certain date, yes. As long as you are getting need-based fin aid, no.
2006-06-20 12:51:34 · answer #5 · answered by Another Nickname 3 · 0⤊ 0⤋
Some of the finacial aid you have to pay back, but not all of it.
2006-06-20 12:52:27 · answer #6 · answered by Anonymous · 0⤊ 0⤋
If its a student loan yes.
2006-06-20 12:52:24 · answer #7 · answered by becca 3 · 0⤊ 0⤋
Grants..NO
Loans..Yes
2006-06-20 12:50:47 · answer #8 · answered by harleyryder42 3 · 0⤊ 0⤋
if its a loan then yes. scholarships you dont pay back.
2006-06-20 12:51:55 · answer #9 · answered by back58 3 · 0⤊ 0⤋
If they are student loans, yes. If you don't it will seriously hurt your credit. Otherwise, no.
2006-06-20 12:52:58 · answer #10 · answered by Speedy 3 · 0⤊ 0⤋