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Really confused on how to pay for University education someone explain?
so i know that you can get some scholarships but what about the people like me who dont have any? I am a senior in highschool but will graduate and move to go to K-state in december so i dont have that long to figure this out i know you can apply for financial aid and student loans which i will have to do but do they pay you in full or do you have to repeatedly apply for loans and do you start to repay them after school or what i guess i just dont understand how everyone pays for all four years at a university will someone explain to me
2 Answers
- Anonymous9 years agoFavorite Answer
You will need to file the Free Application for Federal Student Aid (FAFSA) if you wish to receive any Federal Pell Grants or Federal Loans, or Work Study. Federal Pell Grants are like gifts of money that the government will award you to seek High Education; they do not have to be paid back. Whether or not you will qualify for this award will depend on how much money you and your parents (if under age 24) make annually. Federal Loans come in two types, Subsidized and Unsubsidized. Subsidized Loans are the best to receive because the interest on these loans does not accrue while you are still in college. Unsubsidized Loans will accrue interest each month, even while you are in college. Work Study means that you will apply for an approved job within the program and you will work a set number of hours each week. The money you receive for performing the job is to be used to offset your Educational Expenses- tuition, room and board, books, transportation, etc. You must file a new FAFSA each year, because the amount of money you receive each year is based off the following years Tax Return. If you have additional questions or concerns, you should contact your High School Guidance Counselor. He/She should be well versed in these matters.
Source(s): http://www.fafsa.ed.gov/ http://studentaid.ed.gov/types/grants-scholarships... http://studentaid.ed.gov/types/loans/perkins http://studentaid.ed.gov/types/loans/subsidized-an... http://studentaid.ed.gov/types/loans/subsidized-an... http://studentaid.ed.gov/types/work-study - ?Lv 45 years ago
I filled out the FAFSA and that i develop into no longer allowed any funds so I had to take out deepest personal loan. it truly is often puzzling for a smooth individual to be licensed with out a cosigner. i'm 21 with very good credit (bought 3 sparkling automobiles, 3 new fourwheelers, and paid off misc. loans), and my mom nevertheless had to cosign. My mom had proper credit and the activity price with sallie mae develop into nevertheless fairly extreme(13.5%). So we went with chase and that i have been given the verify in the mail in about 2 weeks. The activity price develop into nevertheless a touch extreme(10.21%) yet oh properly, I had to have the money. when I graduate i wager i'll consolidate the loans and that would help out some.