- Financing Tuition
Fast Facts on Financing Your Tuition
Tuition and fees vary widely from one school to another, which is why costs should be a big part of your evaluation criteria. Tuition costs are calculated based on the number of credit hours per semester you take.
Types of Loans and Available Financial Aid
A loan from a financial institution that accumulates interest and must be repaid following graduation.
Subsidized Student Loan
A student loan in which the interest is paid by a governmental entity while you attend school. After graduation, or if you are not taking classes any longer, the interest begins to accumulate.
Unsubsidized Student Loan
A student loan in which the interest accumulates while you are in school.
A grant is typically free money that you receive. Grants are awarded by governments and private organizations (such as companies and foundations) to provide financial assistance to college students. Most grants do not have to be repaid.
An academic scholarship is free money that you receive for having a high grade point average (GPA).
An athletic scholarship is money provided to you in exchange for your participation on a university's sports team.
Student Loans in the U.S.
Federal Student Aid—U.S. Department of Education
U.S. students should complete the FAFSA, or Free Application for Federal Student Aid, to determine whether they are eligible for governmental financial aid, such as grants and subsidized student loans.
Estimate Your Federal Aid with the FAFSA-4-Caster
A helpful tool to get an idea of how much aid you may be eligible for.
The Smart Guide to Financial Aid
FinAid.org provides a wealth of information on scholarships and loans.