Scholarships and grants are ideal for any student. They essentially give individuals free money to pursue their program and dream career without paying any of the funds back. However, most of these awards do not cover all of the costs to attend college.
You can apply to be part of a work-study program, which may give you funds to put towards your education. The amount you receive will depend on how much time you work. However, there are limits. Your school may not let you work more than a certain number of hours since your focus should be on your studies.
Your school may match you with a position that is in your field of study. But most institutions require you to find and interview for jobs on your own. The financial aid office at your school may have a list of employers that are part of the program.
The pay for work-study varies depending on the position, responsibilities, and experience. Your school’s policies can also influence your rate. For instance, working on campus may only pay minimum wage.
The money you earn in a work-study program does not count towards your income when you submit your Free Application for Federal Student Aid (FAFSA). While the form does ask for your work-study earnings, it factors out the amount from your other income.
Other types of financial aid you can receive from submitting the FAFSA form include the following:
- Pell Grants can give you up to $6,495 annually if you are a first-time undergraduate student, attending a teacher certificate program, or the child of a parent who died in Iraq or Afghanistan after September 11, 2001.
- Federal Supplemental Educational Opportunity Grants provide between $100 and $4,000 annually to Pell Grant recipients and undergraduates with exceptional financial needs.
- Teacher Education Assistance for College and Higher Education Grant is a supplemental grant up to $4,000 annually for teaching majors who agree to work for at least four years at an institution that serves low-income students. You must teach a high-need subject like math, science, English, and special education.
- Iraq and Afghanistan Service Grants have the maximum award amount of $6,345 if you are ineligible for a Pell Grant and had a parent or guardian die in Iraq or Afghanistan during military service after September 11, 2001. You must be younger than 24 years of age or enrolled in college at the time of death.
The federal government also has education loans that have more favorable terms than private loans. You will need to pay loans back with interest. More than 60 percent of students need loans to cover the cost of higher education.
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