Financial Aid

Workforce is changing all the time. Salary gap between college graduates and high school graduates is increasing. More and more people are looking to further their education. Nevertheless some of them think they do not have enough money to go to college. Most are simply unaware of money for college that they could get.
Financial aid can come in many different forms, such as scholarships, savings, loans, grants. Here you can find information about the most popular ones.

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Merit-based Aid – is a student assistance awarded because of a student's achievement or talent in a particular area, such as academics, athletics, music, etc.

Methodology - refers to the system used to calculate the expected family contribution, for example, the Federal Need Analysis Methodology.

Military Scholarships – are scholarships available for the Army, Navy and Air Force at many colleges and universities throughout the USA. These scholarships cover tuition and fees, books and supplies, and include a subsistence allowance.

Master Promissory Note - is a one promissory note that covers all loans made by the same lender to the same borrower for the same loan program.

National Health Service Corps Scholarship is a scholarship program for students who pursue full-time courses of study in certain health professions disciplines, and are willing to serve as primary care practitioners in underserved areas after graduation.

National and Community Service – a program established through the National and Community Service Trust Act of 1993 designed to reward individuals who provide community service with educational benefits or loan forgiveness or cancellation.

Need Analysis is a system by which a student applicant's ability to pay for educational expenses is evaluated and calculated. It consists of two primary components: determination of an estimate of the applicant's or family's ability to contribute to educational expenses and determination of an accurate estimate of the educational expenses themselves.

Need Analysis Formula – defines the data elements used to calculate the expected family contribution. There are two distinct formulas: regular and simplified.

Need-Based – is a financial aid that depends on your personal or family financial situation. Most government sources of financial aid are need-based. Need-based aid can be awarded in the form of grants, loans, or work-study. Students who believe their families will need help in supporting their educational costs are encouraged to apply for need-based aid at the time they apply for admission.

Non Need-based Aid – is a kind of aid based on criteria other than need, such as academic, musical or athletic ability. Besides, it refers to federal student aid programs where the expected family contribution is not part of the need equation.

The National Student Loan Data System – is the national database of information about loans and grants awarded to students under Title IV of the Higher Education Act of 1965.