Funding Your Education through Free School Grants and Loans

Free school grants and loans are two ways to fund your college education. Grants are monetary aid provided to students for free. They are usually given by the federal or state government. Loans are also considered as financial aid, but they have to be repaid.

What's better, a grant or a loan?

The obvious answer would, of course be, a grant. Why get a loan when you can avail of a free school grant in the first place? A grant does not need to be paid back, unlike loans. However, grants are quite competitive, especially those that are awarded based on achievement or ability.

What kinds of loans are available?

There are three basic types of loans available to college students:

• Federal loans directly offered by the government
• Federal loans given by banks or other lenders that are guaranteed by the government
• Private or alternative loans from banks or other private lenders that carry no government guarantee

How does one apply for a grant or loan?

Students who want to avail of a free school grant can apply directly to the funding agency - which could be the government or a private institution. There are many websites where an applicant can just fill up an application online. Students interested to apply for federal loans can check government websites for more information.

What must a student do before applying for a grant or loan?

Students who are thinking of applying for a free school grant or a loan must first:

• Do research. Arm yourself with information about grants and loans. Surf, inquire, and write emails. Don't be afraid to ask.
• Weigh options. Consider the pros and cons before making a decision as to what type of college funding you should go for.
• Consult. Talk to family members and friends and seek their counsel. They could bring to light some issues that you may not have considered and ultimately help you to make the right decision.
• Get professional help. Talk to guidance counsellors or educational planners as to what type of grants or loans would be ideal for you.

Grab every grant opportunity

Apply for grants suitable for you. There are many free school grants and loans offered with special specifications.

Scholarships for Moms gives you a chance to finish your degree or pursue a course you've always wanted. All you have to do is register for their offer and you could be lucky to get that college grant.