A college degree is a ticket to a better and a smarter future. Statistical data also believes; a college graduate earns 30% more than those without a degree. Besides, the relevant skills and knowledge you get in the course of college serves you for a lifetime. Sadly, college education is costly and out of reach for the monetarily handicapped sections of the society. However, need based scholarship programs have been instituted by the government to aid the underprivileged.
There are a number of ways to finance one?s college education. Scholarships, federal or private, are the most desirable, but they are limited. Other steps consist of student loans, part time jobs etc. The most popular need based scholarship is the Federal Pell grant. It is a grant and therefore, unlike a student loan, doesn?t need repayment. The Pell grant is sponsored by the US Department of Education and is meant for undergraduates only.
To be eligible for the Pell grant an applicant needs to show his need for help. Requirement for financial assistance is assessed based on Expected Family Contribution or EFC. A applicant?s EFC is computed by using a standard formula which takes into account the student?s family size, income and property, number of dependent?s, and also the number of family members pursuing secondary education.
The EFC is calculated by the Department of Education based on the information offered in the application form. To apply for the Federal Pell grant each student needs to fill in the Free Application for Federal Student Aid (FAFSA) form. This is a standardized form and will be either submitted online or by means of post. Just those student?s whose EFC?s fall within the lower ranges are considered eligible for the grant. Also, the applicant must be enrolled in any of the participating institutes.
The fee of an average college education is somewhere within the range of 10,000 to 20,000 USD per annum. If you don?t possess a full scholarship, you will need additional funding for your education as most need based scholarships and grants come in the range of a few thousand dollars at the most.
Source: http://jawabali.com/reference/the-advantages-of-fast-payday-loans-online/
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