examsandjobs.inyour one stop career hub
Understanding Financial Help for School in the USA
Last Updated:  December 24, 2023  |  

Understanding Financial Help for School in the USA

Going to college is a big deal, but money can be a problem. Luckily, in the United States, there are ways to get help with college costs. In this article, we will talk about the different kinds of help you can get, who can get it, what it pays for, and how to apply.

Financial Help for Students

Financial help for students means getting money to pay for college or career school. This money can cover many things like tuition, books, housing, food, and more. There are different types of help, like grants, scholarships, work-study jobs, and loans.

Who Can Get Financial Help

To get help, you need to meet some rules:

  1. Be a U.S. citizen or an eligible non-citizen, like a permanent resident.
  2. Have a valid Social Security number, except in some special cases.
  3. Be in or accepted into a school that's allowed for this kind of help.
  4. Do well in your classes.
  5. Not have any unpaid loans from the past.

Types of Financial Help

There are a few main types of help:

Grants:

  • Given to students who need money.
  • You don't have to pay grants back.

Scholarships:

  • Given to students who are really good at something, like academics or sports.
  • Scholarships don't need to be paid back.

Work-Study Jobs:

  • Part-time jobs for students to make money.
  • You can earn the minimum wage.

Loans:

  • Money you have to pay back later with interest.
  • Be careful when taking loans.

What Financial Help Covers

This help can pay for:

  1. Tuition and school fees.
  2. Living costs like housing and food.
  3. Books and supplies for your classes.
  4. Traveling to and from school.
  5. Other school-related things like computers.

How to Apply for Help

To get help, you have to:

  1. Fill out a form called FAFSA® (Free Application for Federal Student Aid). You don't have to pay anyone to help you with this form.

  2. Use the right FAFSA form for the school year you need help with.

  3. If you're taking summer classes, ask your school which form to use.

How Financial Help Works

Here's how it goes:

StepDescription
1Find out how much your family can pay for school (Expected Family Contribution or EFC).
2Fill out the FAFSA form.
3Schools will send you offers with grants, loans, and work-study jobs.
4Pick the best offer for you.
5Learn about loans and use grants and work-study money wisely.

Conclusion

Getting help for school in the United States can be a bit tricky, but it's super important to make college possible. Remember what kind of help there is, who can get it, what it pays for, and how to apply. This will help you and your family make smart choices about paying for your education.

Return to Homepage for more content.