Financial Aid
Explore a comprehensive guide on various types of financial aid, discover reliable sources to secure assistance, gain insights into the FAFSA application process, and access a diverse range of currently available scholarships.
Types Of Financial Aid
Grants
People are usually familiar with the first three sources of aid, but they sometimes one may overlook the money available from sources close to them such as their church, an employer or community civic groups.
Scholarships
Scholarships are an important source of funding for college students that should not be ignored. At FAME, we will research any State and/or private scholarship resources for our clients. Our goal is to help our clients fund their education without loans. There are many resources out there that can help students with their education costs. We will find the best State scholarships that you are eligible for such as the HOPE Scholarship for Georgia residents, donor scholarships through the University in which you will be attending and private scholarships.
Work-Study
Undergraduate, graduate and professional students with financial need can participate in the Federal Work-Study program, numerous postsecondary institutions offer work-study employment opportunities to students.
On-campus positions include working at the dining hall or in the library.
Some colleges also have off-campus positions usually related to your course of study.
The money earned will help cover your educational costs, whether it is directly applied to your overall college cost or deposited into your bank account.
Check with the financial aid or student employment offices at your college for more information.
Loans
In our opinion, it is best to stay away from loans. FAME's goal is to find the "free" aid first and keep our client's student loans to a minimum. No student wants to graduate and earn their degree only to pay back eighty-thousand dollars back in student loan debt. Here at FAME, we are knowledgeable and aware of the resources for our clients. However, for some students, acquiring student loan debt is inevitable. Therefore, we have listed some information below that will help you make the best choice for yourself, depending on your personal circumstances. For all federal loans, repayment does not begin until 6-months after you graduate but what varies are the interest rates.
Best loan types:
The best loan for any student to get is through their school. Most schools do offer the Perkins Loan. This is a federal loan. However, the student will have to pay the school back, not the government, like other loans that we will discuss further later.
Next, is the Federal Direct Subsidized Loan. However, this loan does not capitalize interest until 6-months after the student graduates. So this is basically an interest-free loan.
Finally, is the Federal Unsubsidized Loan. The interest is capitalized on the loan as soon as it is disbursed to the school.
Sources Of Financial Aid
Financial aid is money from different sources that’s used to pay for your education. Much like the college application process, you have to apply for financial aid to be eligible to receive any funding. Depending on the source of financial aid, the process could be a little different.
Sources of financial aid:
The federal government
State government
Colleges and universities
Community groups, including religious organizations, civic organizations, employers, private companies, professional organizations and service organizations.
People are usually familiar with the first three sources of aid, but they sometimes one may overlook the money available from sources close to them such as their church, an employer or community civic groups.
What Is FAFSA & How To Apply
In order to be considered for federal aid, a student must submit a FAFSA (free application for federal student aid) to the schools of their choice. This is the first step to seeing what types of federal aid one maybe eligible for. At F.A.ME., we will assist you with the help needed to complete the FAFSA accurately.