1. How can I get financial aid?

You can get financial aid through grants, student loans, government loans, scholarships, and by working for the school.

2. Will the loan cover all my expenses?

This rarely happens. While financial aid will typically include money for tuition, and sometimes for room and board, the student will almost always have to find the money for daily living expenses (like food and transportation) and supplies for school.

3. How can I make payments or receive the payments while I’m in college?

It is best if you open a savings or checkings account. A debit card will also make it easier to withdraw if you need money after banking hours.

4. Do you need to have a particular grade point average to qualify for a loan?

Some lending institutions and almost all scholarships will review credit hours and grade point average.

5. If I have a scholarship or loan, what do I do if I want to transfer schools or take a year off in the middle of my studies?

You must reapply for another form of financial aid.

6. Will my loan be affected if family status or financial situation changes?

You should call the financial aid office of your college or university to inform them of anything that may influence your ability to pay the loan or meet the college expenses. They may be able to help you look for a solution.

7. The loan says it will cover the partial cost of attendance. What does that mean?

Typically, this term will refer to tuition fees, lodging or room and board, and learning or study aids like books or computers. It can also include transportation and personal expenses. However, this total amount varies widely among colleges.

8. Does my age matter in my ability to get a loan?

Not really, but it will affect whether or not you are declared as a dependent or independent. Dependent students need the financial support of parents. They are typically below 18. The independent students must meet the criteria set by the government. It is best to ask the loan provider about their policy on this matter.

9. How do I know my request for financial aid has been accepted?

You’ll get something called a financial aid award letter. The letter will include details like the amount of money you have been granted, the mode and terms of payment, and any other special conditions.

10. If I get scholarships from institutions outside of the school will it affect my financial aid package?

You must tell your college’s financial aid office about any outside scholarships you may have received. They will always have the right to change the type of financial aid awards to accommodate scholarships.