Once you have decided on where to study, the next step is to plan for funding. Many adults are unable to finance their studies themselves and so seek financial aid in the form of grants, scholarships and loans. Learn more about these 3 options below.
grants
There seems to be a misconception that scholarships are only for people straight out of high school. The good news is that there are many scholarships available for adults. Not all scholarships are also based on academic results, some focus on minorities and another example are those that focus on specific subjects or interests, for example there are super scholarships for women studying engineering. Scholarships are typically offered by colleges and universities, private companies, and organizations.
grants
Grants refer to the available federal grants. There are different scholarships and you need to check which ones you are eligible for. The FAFSA website is the best place to complete your application online and get more information. The most well-known federal scholarship is called the Federal Pell Grant and it can pay you up to $5350 per academic year. Then the runner up would be the FSEOG which is for the financially needy people and here you could get anything from $100 to $4000.
loan
If you’ve applied for all available grants and scholarships and find you’re still short on cash, you need to consider a loan. Remember that grants and scholarships are non-repayable, so always make this your first choice for funding. But don’t worry if you’re short on cash because there are excellent loans out there. Take a look at Perkins Loans and Stafford Loans. Some loans are interest-free, while others accrue very low interest rates.
Always apply for free money first as it is your best option. To get the ball rolling, why not apply for a $10,000 scholarship right now? It’s quick and easy and won’t take any time at all, do it now.
