Kinds of school funding
School funding is available in two types that are basic need-based and non-need-based.
Non-need-based help
Can be known as as “merit-based aid” and it is granted on the basis of the merit of a student’s scholastic performance, community tasks, or athletic skill.
It’s commonly provided by means of non subsidized loans through the federal federal government known as the Direct Loan system which include Stafford that is unsubsidized and PLUS loans by which interest starts accruing as the pupil is within college.
Need-based aid
Is, once the name implies, according to your monetary need.
It really is commonly provided by means of work-study, funds, and loans.
Each school’s monetary aid workplace places together your school funding package.