Colleges with Best Financial Aid
Day-by-day, as we all know the education costs are increasing and are reaching a new sky high. Now considering the Indian NRIs who migrate to different countries for work, they’re already fighting to save as much as they can. However, their children have to go to schools and colleges, for which parents have to give out a huge share from their savings to this cause. And over the years, there has been a steady grown in the number of Indian NRI Students, and while they apply for their colleges/schools they face a huge problem with finance. To help Indian NRI Student or as a matter of fact any student to get quality education, financial aids are provided by colleges or by banks and lenders. Do you think that all financial aids are beneficial? Are aids a short-term support or a long term burden? Let’s find out what types of financial aids available are and how they impact a student. There are two types of financial aids: Let’s talk about Bad Financial Aid first. Bad financial Aids are a good short term solution, but a burdensome task in the long term. They're like good aids, but here you'll have to pay them after you graduate. Plus there's additional burden of interest. These stay with student for a long time post they have completed their graduation. Private loans don't form a part of college provided financial aid, as these are provided by banks/financial institutions. Usually, they have a high interest rate which adds to the total loan amount. It is always advisable to keep private loans as the last resort and should always be considered after grants, scholarships, and low-interest/subsidized loans, reason being the high interest rates. These packages are offered by colleges where they have a tie-up with a bank/financial institution. They’re offered to students; however, onus of repaying the funding is put on Students. Most of the Indian NRI Students usually take up admissions using this particular option. And then they're stuck with it until they don't find a good job that can help them pay it out. Good financial aids are better options and considered sustainable in long run. This enables a student to afford the education you need without affecting you professionally, financially, or personally after you graduate. Some examples of Good Financial Aid are as follows: Grants are usually a type of award that you received and it doesn’t hinder you with repayment responsibility. And it surely is free money. Scholarships are similar to grants. However, the major difference is for scholarships evaluations are done based on merit, even if it’s need-based. Educational loans provided by Federal Government, they have low-interest rates, including direct loans and Perkins loans. These types of loans are good for students as they don't accrue interest while you're in school and 6-10 months post completion. These packages are usually a mix of grants, loans and/or scholarships. In case of loans, the interest rate would be 5% or lower. Below is a list of Schools/Colleges that offer best kind of financial aid are as follows: Below Colleges offer need-based aid by merit: Drop us an email at [email protected] for further assistance. We'll always be available to assist you.List of Colleges with Best Financial Aid
Bad Financial Aid
Types of Bad Financial Aids
Private Loans
A "Bad" Financial Aid Package
Good Financial Aid
Types of Good Financial Aids
Grants
Scholarships
Low-Interest Loans
Subsidized Loans
A "Good" Financial Aid Package