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What is FAFSA? The FAFSA, Scholarships: Scholarships are Grants: Grants are often called
officially known as the Free financial aid awards designed to help gift aid because they are free
Application for Federal Student students pay for college. They are moneyfinancial aid that doesnt
Aid, is the form that families fill based on students maintaining a high have to be repaid, and are
out to apply for federal grants, GPA. Sometimes a scholarship is a often need-based (Federal student
loans, and work-study funds for one-time check. Other college aid, 2017).
college students. It is administered scholarships are renewable and
by the U.S. Department of provide money for students each Work study: Federal Work-
Education, which provides more semester or school year. Students Study provides part-time jobs for
than $150 billion in student aid may receive the money directly as a undergraduate and graduate
each year. Your eligibility for check in their name. In other cases students with financial need,
federal grants (which dont have to the money is given to the students allowing them to earn money to
be repaid) and federal loans (which college. In these cases, the student help pay education expenses. The
do) will generally be based on your would then pay the college for the program encourages community
financial need, as determined by difference on any money owed for service work and work related to
the information you supply on your tuition, fees, room and board. If the the student's course
FAFSA (Money, 2015). scholarships and other forms of of study based (Federal student aid.
financial aid are enough to cover the 2017).
direct college costs, the excess
money is refunded to the student
(Cappex.com, 2017).
(The information in this document is in no way to be deemed exclusive, and is meant for
information purposes only.)
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References
Federal student aid (2017). Grants and scholarships are free money. Retrieved from
https://studentaid.ed.gov/sa/types/grants-scholarships
Money (2015). What is fafsa and who should fill it out. Retrieved from
http://time.com/money/4108122/what-is-fafsa-and-who-should-fill-it-out/
Petersons (2017). The gre test: what you need to know. Retrieved from
https://www.petersons.com/graduate-schools/gre-test-description.aspx#/sweeps-modal
(BGCHFB003)