Financial Aid
This particular section is not only for students but those who are thinking of a college education and parents. The aim is to look at the different types of financial aid available and which type of people it will be suitable for. This will range from students varying across different courses and parents looking at ways to fund their childrens education. This ranges from innovative programs such as early awareness initiatives through to student sponsorships.
Students have the option of looking at sponsorships as these can be an attractive alternatives to loans. Private benefactors and investors provide students with funding for their education in exchange for a fixed percentage of the students future income for a fixed number of years. In Europe this is a lot more common compared to the US but is increasing.
Furthermore, attending certain courses may enable you to apply for financial aid. Normally aid is available for graduate and professional school. Check wth your University or College on the aid available. For example there are specefic awards for MBA students.
If you find your self in a difficult financial situation check to see if you are eligable for a grant. Government agencies offer grants to students in all fields. It is based on need so your finances will be assesed and if you qualify you will not have to repay the grant unlike a loan.
Additionally keep in mind that students who have disabilities such as dyslexia or physical problems are likely to receive financial help. This may possibly be from the government or the education institute where you have applied.
Finally new programs like the Early Awareness schemes have been developed. The aim is to encourage students from a young age to plan for further education especially those from lower income families. Research shows that that 48% of upper income students will have eraned a college degree by the age of 24, only 7% will of lower income students will achieve the same goal. Schemes like "I have Dream Foundation" (IHAD) is an example. Sponsors 'adopt' a group of low income students and agree to pay for their college education if they prepare for college. The students can include a particular grade level from an elementary school or a particular age group from a public housing development. The sponsor is involved throughout their education development providing not just financial assistance but also tutoring, mentoring and enrichment activities to help students.
Hope this information helps and it would be valuable for studnets and parents to explore these avenues in pursuit of a higher education.