Financial Aid 101 and Scholarships
Financial Aid 101 and Scholarships
The information below includes both definitions of terms and websites regarding the sources of financial aid that may be used at a college, university or technical college.
The glossary document includes the terminology needed to understand both financial aid as well as college terms.
Even if a student is a high school freshman, the U. S. Department of Education encourages both students and parents to start thinking about money for college or technical college. The three terms listed below will help with the basics. Also, the federal Department of Education checklist is a valuable source of information.
- Scholarships & Grants – Scholarships and grants are funds to pay for your education that do not have to be paid back to the issuer. Grants are often based upon financial need, whereas scholarships are based upon merit (grades, accomplishments, etc.). Grants and scholarships can come from the government, private organizations, individuals, or colleges and schools.
- Loans – Student loans can originate from the federal government or private financial institutions. Make sure you understand who is making your loan and the terms that are associated with the interest that will be charged and the repayment schedule.
- Work Study – The federal government can provide some students with Federal Work Study opportunities. These programs allow students to work part-time to earn the money needed to help pay for tuition. Many schools also offer work-study programs on campus for students.
GAfutures
GAfutures – A key website for both College and Career Information, and FAFSA Completion
Financial Aid 101 – Presented by GA Student Finance Commission, a must for both students and parents to review!
HOPE GPA – Connect directly to the GAfutures Georgia Student Information System HOPE and State Aid site.
The Video below explains the difference between HOPE, Weighted, and Unweighted GPA's and how to calcuate it.