Know the Routes to Finance Your Studies (Part-I)

The United States is one of those countries that encourages its citizens to get Educated and create a learned society. This encouragement is not just given in the form of some schemes but majorly shared with the people in the form of grants or loans. Here is how you can take advantage of such financing options available.

A US high school student can utilize the following financial aid sources to pursue higher education in Universities, colleges, professional schools, career-oriented schools, or graduated schools.

Aid from the US federal government

The US federal government offers student aid in the form of:

• Scholarships and Grants that need not to be paid by the student


• Student loans that have to be repaid with interest


• Work-study program that offers employment to the students to avail finance for their studies

The federal government aid may cover student expenses such as tuition fees, housing facilities, stationery, transportation costs, computer facilities, etc.

To avail any financial aid from the federal government, students have to apply through the FAFSA (Free Application for Federal Student Aid) form.

Types of Federal Grants

Although there are various student offers provided by the Federal Student Aid. The four most common ones are:

Federal Pell Grants, that need not be repaid, are awarded to students –

• With financial need


• Who have not earned their first bachelor's degree


• Who are not enrolled in certain post-baccalaureate programs

Stafford Loan is a repayable loan with interest, offered to students enrolled in accredited American institutions of higher education. Following are some important points to note:

• Student need not repay the loan until the student is enrolled and even until six months of leaving the school. (Leaving may refer to graduating, dropping below half-time enrollment, or withdrawing).


• This loan is available as subsidized and unsubsidized loans


• For subsidized loans, the interest is paid by the federal government while the student is in school and until six months of the student leaving the school


• For unsubsidized loans, payment of interest becomes the student’s responsibility solely

Federal Perkins Loan (FPL) is a loan similar to that of Stafford but is lent directly by the schools through individual states.

• A student can apply for FPL only for funding their post secondary education


• The loan carries a fixed interest of 5% for a ten-year repayment period


• The interest does not accrue until the student begins to repay

Federal Work-Study Program is a system where students join a part-time work and earn up to a certain amount. In most cases, the federal government pays half of the wage and the school pays the other half.

• This program covers post-secondary education programs


• The student must be accepted into the program to qualify for this program


• Students can join work programs through their college


• FWS programs also cover undergraduate and graduate programs and provide part-time jobs to the students of the same


• The work offered mostly is either related to the subject that the student has chosen or community service

Below are some other federal grants available for the US students:

Federal Supplemental Educational Opportunity Grants (FSEOG) is awarded as “campus-based” aid. The participating schools of the program award these grants to students who are eligible for Federal Pell Grant and in higher need of finance

Teacher Education Assistance for College and Higher Education (TEACH) Grants are awarded to those who choose to study to become a teacher. The students are obliged to certain criteria like teaching in schools that have children from low-income families, for a particular period of time, in order to avoid the grant from turning into a loan

Iraq and Afghanistan Service Grants are awarded to students whose parent or guardian died in the Iraq or Afghanistan during military service.

In this article, we have discussed about various financial aids available for the US students by federal government. More of financial aid sources will be dealt with in the PART II of this article.



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Useful Tips to Get Ready for College Admission Process in the US

As you would know already, the application process for the US Universities and college admissions starts at least two years prior to the academic year. One of the important reasons is the nature of the requirements for admission. For the US college admissions, the important requirements are:

• High School records


• Standardized test scores


• Creative essays


• Letters of Recommendation


• Financial aid

Let us see how we can prepare ourselves and be ready with above requirements well before the deadline for college application submission and the following processes.

We have already discussed about the initial steps in our blogs that were about doing  initial research to select University/colleges and the standardized tests such as SAT, ACT, and TOEFL & IELTS. In this article, you will find useful information about the admission essays and letters of recommendation required for University/college admissions.

Creative Essays

1. College admission essays can play a huge role in the admission process if more number of qualified applicants compete for limited number of seats in a specific college.


2. These essays, that can be written about your interest in a particular college, can help a student get admission in such scenarios. The essays are evaluated to identify the value of the student to the college community.


3. The essay should be written in a way to show your interest in the institution as well as a support to your application. The essay should not be written in such a way that it becomes a negative aspect while processing the application.





4. Some colleges give very high importance to the admission essays. They may check the essays first, even before checking the application form, high school records, and other documents.


5. In such college essays, you need not have to write about your accomplishments or your profile. You must use this opportunity to let the college know about you as a person and how would you be a difference maker to their academy. You can explain an important incident in your life that has influenced you in some way or about a person who has been your inspiration.


6. The essay should be of 250-500 word length. But, if you can deliver the right message, the word limit can be extended, say up to 600 words. Have a general essay and trim it before sending it to different colleges. For example, while answering the questions asked by the specific colleges. Remember to mention the right college name in the essay. Do not send a different college name to the college you applying for.

Recommendation letters

When you choose the person to write the recommendation letter for you, choose wisely. Ensure that the person knows you well – these people can be your teachers, counselors, mentors, etc.

Let them know about the requirements of the college that you apply for. Do not push them too hard, give enough space and time for them to work and write an analysis report about your classroom learning capabilities and communication skills which will provide true insight about you to the new institution that your are applying for. This may help you to secure admission in the college.

Also, let the teachers know more about you outside the classroom by providing a resume about you. Inform them about the application deadlines for them to prepare in advance.

If you are all set with all the necessary documents and test scores, go ahead and start applying for the colleges you wish to apply for.

But, wait a minute before that! Do you have enough funds to complete your education degree?

If not, you should be aware of the financial resources available to you to successfully complete your four-year under-graduation or a higher education program.

Financial Aid

The US Education Department has recently created an online financial aid toolkit to help the counselors of finance in the US higher education institutions and whoever involved in student financial aid counseling activities.

The department has also announced that the toolkit includes details about application process for financial aid and repayment of student loans with other related documents that can be downloaded. The toolkit is also said to contain information about professional development information.

This move is identified as one of the measures of the US government to make the college application process smoother for students.

In the next article, we will discuss about the financial aid available to you from the government and from other sources, necessary eligibility for you to avail these funds, application process, etc. in detail.

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