If you hadn't noticed College Education is becoming very expensive causing a massive rise in the Student Loans industry. Often College grants and scholarships are the only way of getting financial assistance, unless the student or their family qualifies for student loans.
Grant and scholarship programs are advantageous over student loans as they do not need to be paid back. There are two kinds of scolarship programs, based on the inability of the family to pay for a college education or based on the students academic or sporting ability (easy scholarships).
So what are the Options?
Well the names of grants and scholarships, vary, depending on where you live, as does the amount you may receive in a grant. One of these is a Federal or National Pell Grant. This is a program funded nationwide and intended to assist qualified undergraduates who have not finished a baccalaureate degree.
The Federal Supplemental Educational Opportunity Grant (FSEOG) is a program for ongoing undergraduate students. Not available to all and based on need, this grant can be restricted by the availability of finances of the school.
The third and now most common form of financing a college education is through a student loan. These need to be paid back and as there is an interest charge, they can be expensive in the long term. One thing is for sure and that is that going to college is expensive and sorting out the financing for your college education whether by sponsorship, grant or student loans is paramount.