Any aid given by the government is effective whether that aid comes from grants, loans or scholarships.
Student aid, also known as Federal Student Aid, is a government funded program that helps students pay for college. Federal aid allows students to apply for scholarships, loans and grants for college. Any aid given by the government is effective whether that aid comes from grants, loans or scholarships. There are no set measurements for determining the effectiveness of student aid; there is however ways to maximize the effectiveness of that aid.
Instructions
1. Determine how much aid you will receive. After each Free Application for Federal Student Aid, FAFSA, filing, students receive a Student Aid Report,SAR, from the FAFSA program, indicating how much your expected aid will be. Your income or your family's income will determine how much money you shall receive for that year.
2. Calculate the cost of tuition. Tuition is the largest expense for college students and often determines how effective the aid will be. Any aid received always goes towards paying for tuition first. If after paying tuition you still have money left over, you can extend that aid money by budgeting correctly, maximizing the effectiveness of your aid.
3. Calculate the cost of books. Another major expense for students is purchasing books. However, instead of purchasing books directly from the school at a mark-up value, students can either rent or purchase used books from online books stores, saving on costs and maximizing the effectiveness of aid.
4. Select the right meal plan. Schools offer meal plans for students who live on campus, but meal plans are expensive and can cost a student a lot of aid money. Notice your eating habits and determine if you need an unlimited meal plan or a set meal plan. Also, always eat your meals because if you eat or not, you still pay for the food.
5. Consider living off campus. By living off campus, it is possible to maximize the effectiveness of your aid. Often times, living off campus with roommates is cheaper, allowing students to pay less for housing and food than at the school. However, living off campus students most consider safety, transportation and utility fees.
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