Financial aid makes it possible for many students to attend the college of their choice. The single largest provider of financial assistance in the United States is the federal government, via the U.S. Department of Education. State governments, educational institutions, private organizations, and banks also provide students with financial aid by offering scholarships, grants, and loans. It’s important to understand the basics before delving into each source of aid. This section will boil this daunting topic down to the essentials.
What are the sources of financial aid?
The largest source of student financial aid is the federal government, but aid is available through a wide variety of other channels. It can be state- or institution-based. It can also be given by an individual, local society, or national organization.