College education comes at a cost that many students cannot afford unless their parents have saved keeping mind about their child’s education or by going for financial aids. Financial aids are like an oasis in a desert. Many college students go for financial aids to complete their undergraduate and graduate courses. Some of the lucky few who get scholarships need to go for partial financial aids because the aid that they receive is not sufficient for the rest of their education. It is the only what to obtain education for some potentially great students who opt for competitive and hard streams of science. The amount and quantity of financial help given depends on 2 factors:-the students performance in all the activities & the candidate financial help needed. But here we are focusing on the financial help needed by the student because it is the feature most wedged by your investment judgment.
For how much you or your child is financially eligible for receiving aid, you will need to qualify three basic ingredients. The first thing is the kind of the school and the cost of the education already being spend on it. The cost of education depends of the kind of college. The cost of education in a private college is more than that of the cost in a public institution. Another ingredient is the funding obtained by the student from other sources such as parents, scholarships and even part time jobs. All these determine how much will the education cost. This will reduce the amount required for education. You will also need to find out how much cash your family will pay for you education and how much can it manage. The financial circumstances of the family play a major part in the student aid. The expected family contribution or the EFC is determined by the federal government each year so that the ones which require funding can use the Federal Student Aid.