Sources of Financial Aid


Attending college is a major life event. Tuition, fees, and room and board at a public four-year college or university in the 2012-2013 academic year averages about $17,860 per year for an in-state student, according to the College Board.

Several investment vehicles with tax advantages exist to help save for college. However, most college-bound students and their parents rely, in part, on financial aid to help pay for college. Federally funded financial aid comes in several forms, including grants, loans, and work-study programs. It can also include part-time military service during and after college. This educator aims to familiarize you with the major types of federal financial aid and scholarships to help pay for college.

Let's first take a look at grants. A grant is a gift. It does not require repayment. The two main types of federally funded grants are Pell grants and Federal Supplemental Educational Opportunity Grants (FSEOGs):

Credit card ratings: Editors from rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. Ratings vary by category, and the same card may receive a certain number of stars in one category and a higher or lower number in another.

The ratings are the expert opinion of the editors from, and not influenced by any remuneration their website may receive from card issuers.

myFICO is the consumer division of FICO. Since its introduction over 25 years ago, FICO® Scores have become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use FICO Scores to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
CONNECT WITH US Social Media Facebook Twitter Google+ Google+ Apple App Download Android App Download