Click here to go to the NEW College Discussion Forum

I'm Canadian and I'm currently looking at the top Universities down in the States. From what I understand, if I get financial aid, that means I don't pay the full tuition (including some other costs). But who does pay the rest? The University? Or is it like a huge, gargantuan loan? This seems like a clear cut answer (who's willing to give me money?) however I was at an Ivy Seminar thing and the lady kept using the word "award" making this ever so equivocal.

By Wisconsinguy (Wisconsinguy) on Tuesday, October 14, 2003 - 09:16 am: Edit

Financial aid is a package of assistance put forth by the university to meet your financial need. The determination of financial need is set by the universities according to widely varying methodologies. The financial aid package usually consists of three parts--grant, loan and work study. Grant is money the college gives you, usually from interest from their endowment. You don't have to pay it back. Loan is money from varying sources, usually the college or the federal government, that you do need to pay back, but usually at low or delayed interest. Work study means taking a small job at the college or university, and, in turn, work while you study to pay off some bills.

By Compewter (Compewter) on Tuesday, October 14, 2003 - 07:51 pm: Edit

Do you have to do work study? Because I really don't want to...

By Wisconsinguy (Wisconsinguy) on Wednesday, October 15, 2003 - 08:53 am: Edit

Well, I suppose if you want to take an additional $2000 of loans out, you can do that too. But it's really easy to do work study. We're talking a few hours a week, and you can get a job that requires little more than sitting and studying.

By Easydoesitmom (Easydoesitmom) on Wednesday, October 15, 2003 - 01:14 pm: Edit

I am so sorry and please don't think I am being judgemental but I worry about people who don't seem to grasp that nothing is FREE without working for it . Work-Study is a wonderful way to pay back the grants . As Wisconsinguy says , you can study while you "work " sometimes . Plus, it looks great on a resume when you graduate .

By Emeraldkity4 (Emeraldkity4) on Saturday, October 18, 2003 - 04:43 pm: Edit

workstudy is great
not only is it more flexible and accomodating than an off campus job would be, you can get trained in area of interest if you plan well
my daughter is working in the computer lab to fix computers and is getting lots of training she would have to pay for off campus