subject: Applying For Financial Aid: Different Types Of Aids [print this page] There are different types of financial aid for the students. They are the methods used to help students to cover their costs for education and different costs which are inevitable while studying at college. This is very helpful for students from the point of view of financial maintenance; moreover, it is a kind of motivation, which encourages students while studying. There are two types of such aids: merit-based aid and one more kind, need-based aid for students.
A few words about merit-based financial student aid: there are several cases which are taken into account while awarding this financial aid to students.
This is the type of scholarship which is awarded by the institute, college or any other educational establishment. In most cases it is awarded to the talented students, who demonstrated themselves as accurate, skilled and self-motivated persons. Academic skills, headship potential, and exclusive personal distinctiveness of the student can give him a chance to get this type of a financial aid.
Group relationship is regarded as one more condition of receiving this merit-based financial student aid. It is necessary to admit that in this case financial situation of the applicant is not always taken into account. Practically every time the colleges give all the admitted students the merit-based help.
The process of application is essential in those schools, local colleges, and further educational organizations which do not offer this kind of scholarship repeatedly.
Another kind of a financial help is need-based financial student aid. Judging from the name, this kind of help is awarded to the students according to their financial needs. This is the basic ground of this type of aid. The first necessary document for applying for this kind of aid is the free application. The FAFSA is usually used to examine the eligibility of the students regarding the federal and local instructive establishments. Sometimes, it is necessary to apply additional set of documents. It depends upon the requirements of educational establishments.
