importance of Financial Aid in Funding College instruction

Student Loans Bureau Jamaica - importance of Financial Aid in Funding College instruction

The last few years have been a real test for those who have unshakable faith in the higher instruction system. With the state of the cheaper touching new lows and rendering millions of Americans jobless, serious questions were raised over the wisdom of investing money in a fancy college degree.

Student Loans Bureau Jamaica

However, there are statistics to sustain those who believe that college instruction opens the door to high paying careers. Agreeing to the U.S. Census Bureau's 2005-2007 American community Survey, the median each year wage of a high school graduate was ,712, while those with some college or associate's degree earned ,793 per annum. The wage of those with a bachelor's and graduate or pro degree were ,277 and ,014 per year respectively.

Clearly, the numbers speak for themselves and the argument is won in favor of a college education. But not every person has the financial resources to fund higher education. For such people, college financial aid comes as a ray of hope. Many colleges offer financial counseling to students and educate them about the discrete federal aids available to them to fund their education.

Federal financial aid for students includes scholarships, grants, and subsidized loans given on the basis of financial need as opposed to academic accomplishment. Besides, some state agencies also offer grants to deserving students. Some of the leading federal financial aid programs are:

Pell Grant: It is a need-based grant that is commonly given to undergraduate students. Unlike a loan, a learner doesn't have to repay a Pell Grant. The amount of grant can vary from year to year and will depend on factors such as financial need, cost to attend college, either you are a full time or part time student, and either you plan to attend college for a full academic year or less.

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