How does financial aid work in college?

You do not have to pay back grants, that is free money. If you receive loans you will have to pay them back starting 6 months after you stop going to school.

if its a grant its yours to keep, but if its a loan you have to pay it back plus interest. You dont have to pay until you graduate

Financial aid is not the same as a student loan. Student loans have to be paid back after graduation.

i dont think so i apply for financial aid and didnt have to pay it back if its a loan than u do but not grants

depends…grants…most cases no. Finacial aid you have interest to think about depending on the loan and yes you have to pay it back.

Also depends on your need as to what you get. My friend a single mom, seems to get grants alot…not alot of money. I decided to go the easy way and get loans…but in a few more months..gotta pay all that money back..some with interest.

save your money…community college isnt that expensive pay out of pocket if ya can.

Well Grants and Loans all fall under the Financial Aid umbrella,

There are a few grants that you can receive by doing the FAFSA application. The amount you can receive depends on your enrollment status, plus the output information or Expected Family Contribution (EFC) of the FAFSA application. Community colleges also offer some form of state grants.

By doing the FAFSA application you are also entitled to guaranteed student loans called the Stafford program, There are two forms of the Stafford program, one is a Subsidized which the Government pays the interest on the loan while you are in school, the other is an Unsubsidized which is an interest bearing loan right now of 6.8%.

Every person has a different scenario so your best bet is to really talk to the financial aid office once you receive your award letter, and find out what is money that is free and what is money that has to be payed back.

There are different types of Financial Aid. If you are eligible and receive a Pell and Tap grant you pay nothing back. It is a grant. Meaning you do NOT pay it back. Pell and Tap pay for your books, tuition and Work Study (Stipend that is paid for working while in school through various companies who are registered). Whatever is left over you recieve toward the end of the semester. It’s yours to do with whatever you like.

However, if you apply for a loan, which is another type of financial aid, you will have to pay it back. Generally you have up to six months from the time you graduate to start paying back the loan.

I have gone to Community College as well as several other schools. and experienced first-hand what financial aid has to offer. There are also plenty of sites that have informations on these grants.