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Some private need-based awards are confusingly called scholarships and require the results of a FAFSA (the family's EFC). However, scholarships are often merit-based, while grants tend to be need-based. Scholarships, similar to grants, do not need to be repaid. Scholarships come from state, educational institutions, and private agencies.
Very few people can afford to pay for a college education in full. In fact, according to the National Center for Education Statistics, 85% of students receive financial aid. This includes taking ...
A scholarship is defined as a grant or payment made to support a student's education, awarded on the basis of academic or other distinction. [1] "Scholarship" has a different meaning in the United States than it does in other countries, with the partial exception of Canada. Outside the U.S., scholarship is any type of monetary award to fund ...
Once aggregate limits are met, the student is ineligible for additional Stafford loans until they pay back a portion of the borrowed funds. A student who has paid back some of these amounts regains eligibility up to the aggregate limits as before. Graduate students have a lifetime aggregate loan limit of $138,500.
The answer lies in what type of scholarship you have. In most cases, college scholarships are not taxable. Read on to learn more about whether scholarships are taxable and if so, how to prepare ...
The thought of the cost of attending college is daunting, whether you're a parent or a student. According to the College Board, costs of tuition in 2020-21 ranged from an average of $10,650 a year ...