Financial aid - based on merit vs. need-based

Financial aid is an important process in the early college experience. And 'in fact almost as important as the college students the choice to accept, because in those days, without benefit of financial support is very impossible to get through all four years of graduate school. Financial aid applies to the whole college experience. It 'used to pay students for teaching in the first place, but also helps pay for books and laboratory fees, their dormitoriesor apartments, as well as many other taxes that are often seen in school.

But this is only a beginning to understanding the purpose and benefits of subsidies, which is generally two different types of aid is divided. The first type of financial assistance grants is based on both individual prizes offered by universities and offered by third parties. Merit-based financial aid is usually offered to students who arethey are scientifically distinct. Some, but also to students who have distinguished themselves in some particular field are. Some groups, such as the YMCA, also offer performance-based scholarships.

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For example, a student Honor Society will be offered based on the performance of financial aid not only for high academic standards, but also because it implied the prestige and merit to the National Honor Society. An outstanding high school football player with good grades can also benefit from a performance-basedScholarship. Does not need to have an average rating of 4.0 points - typically, C or C + is the minimum average of the votes - just because it has demonstrated a high quality of skills, responsibility and determination, as it applies to athletics. Greatest artists of a school, could also be a performance-based scholarships. Students with excellent leadership qualities and responsibility to qualify.

Merit-based financial aid is not actually a student to focus financialNeeds. A student who comes from a well to do family, he did not mind paying for college could get a performance-based scholarship - if he or she deserves, of course - as simple as a student must leave the only one financial aid to attend college.

This brings the second type of financial support to the mind: the need-based scholarship. The monetary needs of an individual student to determine the allocation of need-based financial aid. In other words, while the relative performance scholarshipspossible for those who have money and those who do not have the same good-to-do students receive is used in the previous example, you might need-based scholarship will be awarded. Need-based financial aid exists solely to assist in financial difficulties. In most cases, a student in financial difficulty through FAFSA (the Free Application for Federal Student Aid), an extensive survey before the first semester a student is determined to make the universities.

Understand the main differences between the basic needsScholarships and scholarships based on merit is just the beginning, when it comes to understanding the pros and cons of financial aid. However, it is extremely important to know the difference before the start of the process of acquiring grants to better understand what students need potential - and, more importantly, what you get in the situation, in terms of financial assistance.

Financial aid - based on merit vs. need-based