Three Types Of Financial Aids

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The major difference between public colleges/ universities and private colleges lies in how they are founded. Public colleges are those that are largely supported by state funds. Private colleges, are supported by tuition and donations from alumni and friends. Usually they are more expensive than public colleges/universities and often offer the best financial aid because of that specific reason. If you attend a public college/university in your own state, you will get a break on tuition costs which is known as In-State tuition. If you attend a public college/university in another state, you will probably not receive those benefits you are able to receive in the state you previously lived in. When you go to compare the figures on all of the …show more content…
The three types of federal student aids are grants, work-study funds and low-interest loans. Grants is financial aid that does not have to be repaid, Loans is borrowed money for college or career school in which you must repay with interest and Work-Study is a work program through which you earn money to help you pay for school. All of these type of aids have different rules, therefore they have different eligibility criteria to determine who gets the aid, but one thing they do all have in common is that there is no age limit when it comes to receiving federal student aid. Financial aid is not always something permanent, you may lose your financial aid for a number of reasons. One way you could lose your financial aid is by changing your major and no longer be enrolled in the program that made you eligible to receive a specific type of funding. Another way you could lose your financial aid is by no longer meeting one of the basic eligibility criteria which includes maintaining a satisfactory academic progress in school. When this happens, I suggest that you talk to a financial aid advisor and see how you could regain eligibility for financial …show more content…
I believe that because the schools I picked were well-known, that is the reason why my budget is high up in the sky although I am pretty sure that almost all Doctors budget were high up in the sky too. One of the schools I chose was Harvard Medical School, the total of that school came to be $86,885 including tuition, books and supplies, living expenses, university health service fee, blue cross/blue shield, matriculation fee, education materials fee, disability insurance, facility fees and loan fees. I actually did not know that until I added up all of these things, almost had a mini heart attack… Just kidding, but no really I was kind of surprised for a second there but I got over it. I know that I will be paying the government back my whole life after I finish school but I honestly do not care, as long as I love my job and the check I am getting for being in school for eight years I am completely fine with that. There were some unexpected expenses though, I realized that blue cross/ blue shield were included in there and so I researched why and it said that it was mandatory for a Harvard Medical Student to have that insurance. I am not complaining though, that is the best insurance upstate. My budget consisted of a couple of heart attacks but I got through them, I cannot wait until the day I become a Doctor. Dr. Rivera sounds too good on

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