No. Financial aid grants are "free money" meaning you do not have to pay them back unless you drop out of school or fail your courses. It is only when you take out loans (which are all marked as loans and all require you to specially agree to accept them) that you start getting in debt.
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when u apply for financial aid is it like taking a big loan from the government?
- Thread starter Belie
- Start date
No. Financial aid grants are "free money" meaning you do not have to pay them back unless you drop out of school or fail your courses. It is only when you take out loans (which are all marked as loans and all require you to specially agree to accept them) that you start getting in debt.
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lil_native_mama22
Guest
and if u qualify for it do u end up owing liike thousands of dollars? i really want to go to online school but i dont want to go in huge debt. i dont know anything about how this all works
If you qualify for a grant, you don't have to pay it back. If you qualify for loans, you do have to pay them back. You end up owing how much you borrowed and you are in control of how much you borrow.
Consider a community college for your first two years, then transferring to a university. You can get a good education, lots of the classes are offered online and it's a LOT less expensive.
On line colleges are private, for profit institutions and the degree you get from them are basically worthless, and a lot of the credits will not transfer if you change your mind and decide to change schools.
Consider a community college for your first two years, then transferring to a university. You can get a good education, lots of the classes are offered online and it's a LOT less expensive.
On line colleges are private, for profit institutions and the degree you get from them are basically worthless, and a lot of the credits will not transfer if you change your mind and decide to change schools.
When you fill out a fafsa it is one application for state grants (free), federal grants, work study and loans. If you qualify for grants, you likely won't need loans, or will need a small amount. But if you take loans, yes they can add up fast. If you take the government's maximum for an undergrad dependent student for four years, you will owe $27,000 plus interest.