2006-09-23 16:24:21 · 7 answers · asked by Melinda B 1 in Education & Reference ➔ Financial Aid
Melinda
You are not going to get reliable answers on Yahoo. You have to talk to the financial aid office at the school you are interested in. Those people handle financial aid all day long, and they know exactly how it works.
In general, you can get several different kinds of financial aid.
1. you can get a "scholarship" which usually means that the school is giving you a discount on your tuition bill, You do not have to pay that back.
2. you can get a "grant" - usually that means they are giving you some money and you do not have to pay it back.
3. you can get a government insured student loan, like a Pell or Stafford. You DO have to pay these back, but they might not have to be paid back until after you get out of school, and the interest rate is really low.
4. you can get a private student loan from a bank or other lender. You have to be really careful with these because often the interest rates are high and some of them are variable rate - that means they might start out at low interest and then later the interest rate changes. You really have to watch out for that!
But you must go tothe financial aid office counselor to get the straight info.
2006-09-24 04:28:18 · answer #1 · answered by matt 7 · 0⤊ 0⤋
Grants and scholarships yes, Financial Aid Loans, you payback.
2006-09-23 16:28:50 · answer #2 · answered by ll_Zodiaco.Piton_ll 3 · 0⤊ 0⤋
Yes financial aid is free. Grants & Scholarships are free also.
Source(s):
http://www.salliemae.com ( For student loans)!!!!
http://www.iefa.org -------> International Students on the web <----
http://www.about.com --->Great search engine and information site for everything <---
http://www.ed.gov/index.jhtml --> Dept. of Education for any questions<--
http://www.fastweb.com
http://www.gocollege.com
http://www.collegeboard.com
http://www.scholarships.com
http://www.walmartfoundation.org
Please go to the Department of Education for more help and a list of student loan foundations.
2006-09-24 05:50:36 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes, for the most part.Grants are free but loans are not and must be repaid.
2006-09-23 22:15:33 · answer #4 · answered by californian 2 · 0⤊ 0⤋
Yes, but it mostly applies to low income famalies
2006-09-23 16:33:35 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Some of it is, but not all of it. Check with your school to find out for sure which you are getting.
2006-09-23 16:27:50 · answer #6 · answered by Justsyd 7 · 0⤊ 0⤋
grants are loans have to be repaid
2006-09-23 16:34:12 · answer #7 · answered by Michelle M 1 · 0⤊ 0⤋