Financial Aid for Students: What is difference between scholarships, grants and work-study programs?
Paying for college or career school can be daunting, but a well-structured financial aid package can make higher education significantly more affordable. The U.S. Department of Education, alongside state governments, schools, and private organizations, offers several types of aid to help students manage the costs of tuition, housing, books, and more. Understanding the differences between scholarships, grants, loans, and work-study programs is key to building the right strategy for funding your education.Financial aid is any form of funding that helps students pay for education-related expenses. It can come from federal and state governments, colleges and universities, nonprofits, private companies, and other organizations. The goal is to bridge the gap between the cost of attending school and what a student or their family can reasonably contribute, often determined by the Student Aid Index (SAI) calculated from the FAFSA® form.The main types […]