Financial Aid for College

Everything you need to know about paying for higher education.

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The Price of Admission: Financial 101 for College-Bound Families

For millions of American families, the path to college has become a labyrinth of forms, formulas, and financial gambles. Understanding financial aid terminology is essential: grants, loans, and work-study are the three main types of aid available.

Understanding Financial Aid

Financial aid helps students and families pay for college. It can come from federal and state governments, colleges and universities, and private organizations. The three main types of financial aid are:

Grants and Scholarships: Free money that doesn't need to be repaid
Loans: Borrowed money that must be repaid with interest
Work-Study: Part-time employment to help cover education costs

Financial Aid Topics

Financial Aid Basics

Understanding the fundamentals of college financial aid, including grants, loans, and work-study programs.

College Grants

Grants are free money that does not need to be repaid. Learn about federal, state, and institutional grant programs.

Student Loans

Student loans are the most common form of financial aid. Understand the differences between federal and private loans.

College Scholarships

Scholarships are awarded based on merit, need, or specific criteria. They do not need to be repaid.

Work-Study Programs

Federal Work-Study provides part-time jobs for students with financial need, helping cover education expenses.

FAFSA

The Free Application for Federal Student Aid (FAFSA) is required for most financial aid programs.

College Q&A

Question: Would you assume significant student debt for your dream school?

Financial Aid by the Numbers

$1.8T

Total Student Loan Debt

$7,395

Max Pell Grant (2024-25)

43M

Americans with Student Loans

$37K

Average Student Loan Balance

Find Colleges by State

Research colleges and their financial aid offerings in your state.

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