College financial aid are resources available to help a student pay for college. There are a number of resources available. There are various entitlements available for students in need of financial aid. There is aid for low-income students, aid for serving in the military or being the spouse or child of a veteran, tax benefits for education, and education awards for community service with AmeriCorps. Sometimes financial aid will come in the form of money to pay for living expenses and tuition or it may come in the form of limited interest rates or deferments on current loans. If you are in need of college financial aid, then this following article will help you get to the resources that can help you.
One form of college financial aid is loans to help you pay the price of schooling. There are many options available for loans so that a student can pay for school. Loans do come with the heavy drawback that you will likely need to pay them back for a long period of time. On the positive side, they are fairly easy to receive forms of financial aid. These loans will typically come with low interest rates and a large amount of flexibility with how they can be paid back. If you are in need of a large amount of money for financial aid, it will likely be inevitable that you will eventually take out loans. If you do, be sure to be mindful of the payment because if you miss payments the loan providers can garnish your wages.
Financial Aid for military service members
Each branch of the military has ROTC(Reserve Officer Training Corps) scholarships available. The Air Force has 3 main types of grants they give their members. There is type 1 that pays for full college tuition, most fees, and a book allowance. Approximately five percent of the Air Force ROTC scholarships are type 1. These awards are given out to mostly technical fields of study as deemed needed by the Air Force(careers such as engineering, chemistry, and meteorology). Another type of scholarship available to Air Force ROTC is the type 2 scholarship. This scholarship pays college tuition and most fees up to $18,000, and a book allowance. Approximately 15 percent of scholarships given out by Air Force ROTC are type 2. This scholarship is also awarded to mostly technical fields. If the student goes to a school where the tuition exceeds $18,000 per year, then the student pays the difference. There is also a type 7 scholarship that pays college tuition up to the equivalent of a public’s school’s in-state rate and a book allowance. Each branch of the military will have comparable scholarships for their ROTC programs.
Post 9/11 GI bill
The primary way enlisted military personnel receive financial aid is through the GI bill. If you have 90 days of aggregate duty service after September 10th 2001, and are still on active duty, or if you are an honorably discharged veteran or were discharged with a service connected disability after 30 days, you may be eligible for GI bill academic support. The GI bill helps pay for academic costs for 36 months. If your release from active duty was before January 1st 2013, there is a 15 year limitation. For individuals released on or after January 1st 2013 then there is no time limitation. If a service member does not want to use their GI bill benefits, they can transfer them to a child or a spouse. This decision must be made while the person is still serving in active duty. Family members wishing to receive benefits must be signed up with the Defense Eligibility Enrollment Reporting System (DEERS). To be able to transfer benefits to children of spouses the military enlisted person must have has served at least 6 years in active duty and has agreed to serve an additional 4 more on the date of the election. Or has already served at least 10 years and thusly does not need to sign up for any more service.
Segal AmeriCorps Education Award
This award is given to individuals who completed a term of national service for approved AmeriCorps programs. The AmeriCorps is a voluntary civil society program supported by the federal government, foundations, corporations, and other donors. The goal of the AmeriCorps is to provide community service aid to people and locations of need. Full time hours of involvement will result in an eligibility of $5,920 in support. While half-time hours will result in $2,960 dollars in financial aid support.
Federal Grants for low income students
The Pell Grant is a commonly bestowed grant given directly by the federal government. The Pell Grant can be up to $5,920 and is given to any student whose family earns money within eligible limits. The goal of the Pell Grant was to provide students with lower family income an ability to pay for college without having to worry about repaying loans. All of the awarded money is ether given to the student’s college or directly bestowed to the student. This grant can be used for housing, food, transportation, books, or any other fee that the student may encounter while going to college. To apply for the Pell Grant you must fill out the information in the FAFSA(Free application for student aid). This application can be made in person by going to your college and filling out the information there, or it can be done completely online at the FAFSA.gov website. There are deadlines to apply so being on time is very important if a student wants to receive the grant
There are a number of resources that you can receive college financial aid. There are loans available for students as well federal grants. There are also grants available for working with AmeriCorps, and there is a large amount of financial support for military and their families. I hope this article has aided you in finding college financial aid.