Student Aid

Student aid or financial aid are general terms that describe money available to students and their families to help offset the cost difference between a family’s Expected Family Contribution, or EFC, and the total cost of attending college.

Even if you are expecting to receive a sports scholarship, it probably won’t cover all of your college expenses. Visit the EducationPlanner Website for assistance in preparing for college and understanding student aid. There are tools available at this site to help you work out your individual financial need.

Generally, four types of aid exist:

• Scholarships
  
  
• Grants
  
  
• Loans
  
  
• Work-Study Programs

Scholarships and grants are awarded by local or state or federal governments, colleges, businesses, organizations, and private citizens based on a variety of factors: academics, sports, ethnic background, and financial need, to name a few. You do not need to repay grant or scholarship money.

Student loans or parent loans are long-term, low-interest loans made to students or parents by private lending institutions or directly from the Federal Government. Any money received through a loan program must be repaid with interest.

American Education Services (AES) offers many options to students and their families interested in applying for a loan.

Work-Study is another source of funds for college. This program is based on financial need and provides students with funds through employment opportunities on-campus or off-campus.

Don’t forget to explore other options such as the Student Loan Rebates program that helps pay for college just by shopping with participating companies.