Skip to main content
2 answers
Asked Viewed 349 times Translate

How Does Finanical Aid Help Benefit Students In College Struggling To Pay Debt?

Such As: Tutitions, Medicaid, Insurance and Future help financial-aid money

+25 Karma if successful
From: You
To: Friend
Subject: Career question for you

6
Pros
6
0

2 answers


Updated Translate

Lisa’s Answer

Hi Diamond. Financial aid is based on you and your parents' ability to pay for college. So the less you can afford, the more aid is given. The aid may be a scholarship, a grant, or a loan. Scholarships and grants are free money, while loans have to be repaid. So a financial aid package that did not contain loans would most certainly benefit someone who is struggling to pay debt. Financial need awards are generally year-to-year, so before accepting a package from a college, you'll want to make sure what the Financial Aid office thinks your package would look like each year.


Smart kids can also get merit aid, which is generally tied to continuing academic success with a required minimum course load. These scholarships are usually renewable, provided your GPA is above the minimum required for the scholarship.


Hope this was helpful, Lisa



1
Pros
1
0
Updated Translate

Eric’s Answer

Hi Diamond,
Financial Aid doesn't help with Debt, it helps increase it. Also less than a third of Students use their degree for what they get it for. This is something you have to decide if it is worth it or not. A degree doesn't guarantee success or a good income. When I was in school I work for jobs like Bose and Verizon that help pay for my school and required good grades too. Maybe find a place that offer tuition reimbursement that way you can pay debt and school at the same time while having a little extra motivation to do well.
0