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Financial
Aid -Introduction
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While expensive, post secondary education is a key to professional and personal development
and future financial independence. The more
education usually equals more productivity in the economy. The purpose of financial aid is simple; to provide funds for eligible students
to attend post secondary education (college), because very few individuals or
families can afford to pay the entire cost out of pocket.
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- Financial aid
programs are based on the philosophy that the primary obligation for
college expenses rests with the student and their parents, but society/government will help
meet some of their need. Financial aid is any help given to
a student to pay for the expense to attend post secondary education (college). It could
be in the form of or a combination of these types of aid:
need based, merit based, gift aid, loan aid,
and/or self-support
aid .
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- Some
aid you must specifically apply for. Other
aid may be awarded based on
reports from testing and/or application for admissions or other
submitted data.
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- The
financial aid process assists students and their families to
identify and access sources to help pay for college expenses which
will supplement their own contributions for post secondary
education.
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- Financial aid professionals
at the post secondary institutions work hard to offer students the best package of
financial aid that is available based on the:
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*available financial aid
resources at the institution
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*the cost of attending the institution
- *student's calculated need
using the institution and/or Federal Methodology
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*other factors which you will learn about through this
presentation
Budgeting
for College
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