	Educational Information
	Home Site Map

What to Know About the 3 Main Types of US Financial Aid

Financial Aids are assistances in the form of money, gift, or employment. These are programs that help finance your education, from different sources including the federal and state governments.

Education is one of the most important investments. However, financing oneýs own education can be difficult. A lot of students are getting financial help to assist them in paying the cost of tuition fees in college or their choice of vocation.

Financial programs generally come from these sources:

ý Federal government
ý State government
ý School and
ý other public and private sources

Students are given financial assistance to pursue their education through need-based aid. The principle of need-based aid is simple. Students and families pay the educational expenses based on their abilities.

The 3 Main Types of College Financial Aids are:
1.GRANTS ý These are gift assistances that do not have to be paid back. Every year the Department of Education in the U.S. determines the qualified students for this grant. Some examples of grants:

ý Federal Pell Grant

Award Year 2008 ý 2009
The minimum grant for one year for an eligible student is $523. The maximum grant is $4,731.

ý Federal Supplemental Educational Opportunity Grant or FSEOG ý This grant comes from a limited fund given to students dire financial needs. Students granted FSEOG are with the lowest Expected Family Contribution based on the standard of U.S. Department of Education.

ý Academic Competitiveness Grant (ACG) ý A student must be a freshman or sophomore to avail of the ACG Grant. It should be his first time to avail of ACG, and must be a citizen of the United States. He must have graduated on or after January 1, 2005, and must have passed a federally defined rigorous high school program.

The maximum ACG grant for 2008 ý 2009 is:

- $750 ý for first year students
- $1300 ý for second year students

A high school transcript is required before this award is considered.

2. LOANS ý Loans are borrowed money from a lending company. These have to be paid back with interest.

Examples of loans are:

ý Subsidized Federal Stafford Student Loan

This student loan program has a low interest rate. A studentýs eligibility for this subsidy is determined using federal methodology. A student should attend at least 6 units per quarter. This loan does not accumulate interests. Payments can be made six months after graduation, in minimum of $50 per month. Loan must be paid in full within ten years. Borrowers with outstanding balance can still be eligible for the loan and can consolidate their payments.

ý Unsubsidized Federal Stafford Student Loan.

This loan program is eligible to students who did not pass the full or partial loan. The Unsubsidized Federal Loan is based on financial need and requires 6 credits per quarter in attendance. A fixed interest rate of 6.8% is given for loans distributed on or before July 1, 2006, after which the fixed interest rate is reduced to only 6%.

ý Parent Plus Federal Loan

This is a credit-based loan. Parent Plus Federal Loan is for parents who want additional assistance on top of their income. Applications for this type of loan are available in banks.

3. WORK-STUDY

This program gives students a chance of paying partly their expenses. They can work part-time with at least minimum wage salary. Priority is given to qualified students with below average economic conditions. Once approved, students are required to work with the Career Service Department in no more than 20 hours a week.

For more information on College Financial Aid and Paying Back Student Loans please visit our website.



Trend Alert: New Year, New Interest in Education The New Year and current economy could be responsible for a significant peak of interest in education programs. Traffic to Online-Education.net, a directory of online and on-campus schools and colleges, more than doubled during the first week of January. eLearners.com Comprehensive Guide Answers Online Learning Questions Guide to Online Education Updated with New How-To Sections, Advice, Research and Financial Aid Information: Millions of adults would love to go back to school, but the overwhelming task of determining which school to attend, getting financial aid and finding time keeps many adults from pursuing a degree. To help make the process easier, eLearners.com offers the comprehensive "Guide to Online Education." eLearners.com Launches Definitive How-To Guide for Online Students Comprehensive guide provides tips on how to succeed as an online learner: Where can an online student go for credible advice about online learning? eLearners.com, the leading resource for connecting students with online education, has answered that question with the launch of the "Guide to Online Education." The guide is a comprehensive, free handbook for prospective and current online students. The Guide for Online Education, located at , features simple-to-navigate, concise, yet in-depth, research, advice and "how-to" sections to answer online learners' questions. All Online Schools Adopts New Look, Helps Students Pick a Top Online School Leading online education directory makes finding the right online college easier than ever. Online-Education.net's Top 10 Voting System Lets Students Nominate Best Education Blogs Online-Education.net has added a new tool to its extensive array of student resources. The Top 10 Voting System allows site visitors to nominate their favorite education-related blogs and bloggers for inclusion in the site's Top 10 rankings. Users can then vote for the best blogs and the winners in each category will be listed on the site. The objective is to winnow out the best of the best blogs in categories ranging from student life to fashion to tech support for the amusement and edification of those interested in education-related topics. Industry Career Training Programs Resource for Unsatisfied Professionals A substantial number of government (38 percent) and private sector professionals (40 percent) recently surveyed in the Federal Human Capital Survey 2006 feel that they haven't been given the opportunity to improve their skills. Also, the high cost of industry career training programs has proven to be an issue among American corporations, who spent over $51 billion on training in 2004. Instead of relying on employers to introduce training programs, Online-Education.net advises employees to provide employers with affordable and easy ideas for career training. The Career Training section of Online-Education.net lists a variety of courses and training programs in a number of fields. Smart Horizons Career Online Education Receives Candidacy For Advanced District Accreditation Smart Horizons Career Online Education, A Private School District, Is A Candidate for District Accreditation Through AdvancED, Which Validates The District's Commitment To Student Achievement. The Era Of Online Education The Internet has broken down language barriers, country boundaries, and learning methods. Today, learning at home is not only possible but highly advisable because the World Wide Web gives students resources that otherwise are not available as fast as the time it takes when a student turns on his or her personal computer. Online Interior Design School Attracts Students When Spring Colors Revealed The design world has recently revealed spring's new color trends and inspired fashionistas with a love of design. Anyone who wants to make a career out of their passion for design can check out design course listings for distance learning on Online-Education.net. Online Education Used for College Classes When most people hear the words, "online education," their first thought is of those adults who are seeking out new skills or training or who are looking for a degree with limited time to commit to the process. But many colleges are utilizing online education for traditional college students.

Home Site Map