A Helping Hand for College
Approximately 60% of all students enrolled in higher education receive some type of financial assistance. Financial aid is provided to students for many reasons. The primary reason is to increase the accessibility for families that are unable to afford the full cost of higher education. Scholarships, loans, and federal work studies are categories of financial aid given to help students further their education.
A scholarship is a financial award given to students in recognition of achievement, such as academics or athletics. Other scholarships are awarded to minorities and women to increase their access to higher education. In many cases, the qualifications for a scholarship include financial need as well. A scholarship does not require repayment. Most scholarships are given to students who attend business schools, technical and vocational schools, nursing schools and 2-year colleges.
A loan is an award offered by various government and private agencies. The interest rates are lower than those of regular bank loans, and in most cases interest is not charged while a student is enrolled in college; repayment is also extended over a long period of time. There are loans for students and parents. Student loans are the most common form of financial assistance to students. They are available for both undergraduate and graduate studies. They are issued by commercial banks and state student loan authorities at an interest rate considerably lower than the current market level and guaranteed by the federal government. The loan must be repaid within a ten-year period beginning six months after the student's graduation.
Federal work study is another type of student financial aid. It is a part-time job co- financed by the government and a college to allow students to earn money to help pay educational expenses. The program encourages community service work and work related to a student's course of study. The salary will be at least minimum wage, but it may be higher, depending on the type of work and skills required. The total federal work study awarded depends on when a student applies, the level of need, and the funding level of a college. An undergraduate student is paid by the hour. A graduate student may be paid by the hour or receive a salary.
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Along with scholarships, fellowships, and grants, student loans are an important method of financing post-secondary education. With tuition costs rising, more students are borrowing to pay for college education today. However, not all students realize the burden of paying back their student loans. Many are defaulting.
In that case, students might consider loaning options. In order to use a federal loan to pay for the education, it is a must to be enrolled in a federal program offered by an accredited school. Borrowers of the loan must maintain an acceptable academic standards. According to “How to Pay for College”, “The undergraduate Stafford loans have an interest rate as low as 4.66%, no application fee, and no payments until six months after you graduate”. Likewise, private loans can obtain from banks, credit unions, and other lending institutions. Students can directly apply for a loan, but, it will become their financial and legal responsibility to repay the loans. Federal loans are more advisable because private loan providers’ charges a higher interest
Many colleges in the the world can cost a great amount of money to attend. Without saving money or creating a college fund, a student will have a very difficult time to pay for college. Students that have not saved any money towards college, use student loans. Student loans can be helpful for some situations, but just
Summary: the elements of the new political culture 1. New left – consideration of democratic avenues to socialism- Christian-Marxist 2. Multi-racial in theory and practice 3.demographic element 4. Economic justice for the working people 5. Visible inattention to the woman question 6. Element of culture as part of the struggle
There are different types of financial aid available to students such as grants, scholarships, and loans. There are a lot of these types of financial assistant available for students to have access to. There are many websites available online that have all different types of scholarships. Some scholarships have certain requirement such as race, GPA, demographic, parent’s income, etc. Others require students to write an essay and others only require students to only apply. Grants are given to students and are money that is not required to be repaid. Most grants are federally and state funded. Loans are money borrowed and is required to be repaid and in most cases with interest.
According to Scholarships.com studets say they don’t have the money to pay for the costs of going to college, or they do not know what to do with their lives and these types of reasons hinder them in going to college, and most argue that the loans are expensive and delays graduates from saving for retirement. Many also believe that their grades also keeps them from going on to college, and most say that college is a waste of money and time and others say, “College as a stand alone product is just about worthless”, but there these type of options: local, federal, Merit, and corporate options. It is these common reasons that decide for people on whether or not they should go to college, but there is ways that can help those get to college. There are scholarships that will aid with monetary problems as well as financial aid, this money comes from the government and does not have to be paid back so there isn’t any worries about paying student loans that take a long time to pay back. In order to get scholarships and grants your grades do matter. Scholarships may require a certain grade point average, or a certain score on certain college admissions tests such as the ACT or
“Kong Yiji,” which was published in 1919 bears the title of protagonist: yi and ji are the first characters in a child’s calligraphy primer, and Kong is the English translation of the surname of Confucius. Thus the name translates loosely to “Confucius ABC” (“Lu Xun”). Ah-Q- The Real Story also bears the title of its main character whose name is also symbolic. His name is written with the Latin letter Q possibility suggesting a pun on the English word queue, or to suggest the image of the typical head of Chinese man during the Qing era with is pigtail or queue on top of his head (“Lu Xun”). A possible explanation of the translation of Kong Yiji’s name indicates he was unsuccessful, he has the typical ideolog...
The first ever federal government backed student loan program began in the 1950s under the National Defense Act (Sourmaidis). This was primarily offered as an incentive for students to pursue math and science degrees to compete with Soviet Russia after the launch of the Sputnik satellite (Sourmaidis). In that year, the number of college graduates were only 432,058 (Sourmaidis) and ever since the demand continually increased as did price. This trend allowed for the student loan crisis to occur which is a problem we face today.
It is a universal fact that college is not a cheap investment, and acquiring aid to help with the cost can be hard to come by. Due to the recent drop in the economy, it is almost necessary to have a college degree to get a job. The rising cost and necessity of a college education has raised a debate on the eligibility of financial aid and who exactly should obtain the aid. The main focus in the financial aid debate is whether or not aid should be based on merit or need. A simple way to put this is should the student from lower income families receive aid because money is tight, or should students with the best grades get money for working hard and gaining high grade point averages? When both sides are examined, merit-based aid seems like the best choice when it is compared to need-based aid.
Albrecht, W. S., Stice, J. D., Stice, E. K., & Skousen, k. F. (2002). Accounting Concepts and Applications. Cincinnati: South-Western.
Marshall, D. H., McManus, W. W, & Viele, D. (2002). Accounting: What the Numbers Mean. 5th ed. San Francisco: Irwin/McGraw-Hill.
Some students may not be able to receive financial aid or have any outside financial assistance.
Hansen, D., Mowen, M., & Guan, L., Cost Management: Accounting & Control 6th ed., Mason, Ohio: South-Western
Contra assets; normally assets are debit balance but contra asset is asset with credit balance.