College Often Starts With Finding Ways To Pay For School
Many prospective college students look at an Internet page of their school of choice to see a dollar sign followed by a number in the tens of thousands just for tuition. Then they notice room and board among other charges. With all these crazy numbers that are bandied about it is pretty easy to forget that in the United States of America college students need not worry. The federal government has a system of helping pay for college known as financial aid. You’ll see that’s just the beginning, however, when you begin researching free scholarships and grants information.
In 1965, the University of Texas at San Marcos was the sight of the first sign of change in the college landscape. President Lyndon B. Johnson was on campus to add to his growing legacy which is today known as “The Great Society.” President Johnson signed the Higher Education Act of 1965 at that college, and this bill forever changed the nature of how college operates and how the federal government helps students who have the dream of going to college but lack the financial means to pursue those dreams.
Title IV of the Higher Education Act of 1965 specifically deals with the system of financial aid. Long overshadowed by the more well known Title IX (prohibiting discrimination based on gender), Title IV is the area of the Higher Education Act of 1965 in which students have a constant interaction. This system of monetary aid that exists today is largely the same one that was constructed and signed into law by President Johnson.
The first step to obtaining financial aid is to fill out the cumbersome form known as the Free Application for Federal Student Aid (FAFSA). The FAFSA requires a student and their family to disclose all financial information as the government assumes that the student’s family will help pay part of the cost. It is important that students understand they must return the FAFSA quickly as federal student aid is distributed on a first come – first serve basis. Along with detailed information on online degree, the FAFSA is the place to start.
The most prominent of the federal student aid program may be the Pell Grant. This grant was named for Senator Clayton Pell. The idea of the Pell Grant is to lower the cost of college by providing students in great financial need with money that is under no obligation to be repaid to the federal government. The Pell Grant will not cover the entire cost of college, but can defray a great portion of it.
The Stafford loan is the most prominent loan program encompassed in the financial aid system within the United States of America. These are low-interest loans that are backed in full faith by the federal government. Stafford loans do not have to be paid back until six months after the student’s last enrollment in a full time class load.
The Federal Work-Study program allows students to obtain jobs on campus for the purpose of helping pay for college expenses. Federal Work-Study requires colleges to set aside jobs every year for qualified students and to pay those students at least the federal minimum wage.
Attending college is no longer a dream deferred due to finances; not with all the various forms of financial aid available for on-campus and online degree programs. If a student is willing to put in the work to fill out the forms and work hard in class, the federal government is willing to help with the cost of an education through grants and scholarships.
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