Financial Aid Options
Many students want to go to college but worry about how they will afford the expense. Fortunately, there are many financial aid options available to help students, and Miami-Jacobs Career College’s Admissions Representatives will help you find the best solution for your finances.
When people hear about financial aid they mostly think of scholarships. People tend to assume they can only get a scholarship if they had an amazing GPA or high test scores, but that isn’t true. Scholarships are often granted through organizations or individuals based on other specific criteria.
Before you dismiss the possibility of receiving a scholarship, you should look at what scholarships are available. You may qualify for more than you think, saving you a lot of money. Apart from scholarships, you can also receive financial aid through grants and loans.
Scholarships vary in monetary amounts and in what they can be used for.
Federal Pell Grants
Federal Pell Grants are awarded based on academic history as well as financial need. Pell Grants are a great form of financial aid since they are not a loan and therefore don’t need to be paid back. Though the paperwork process can be intimidating, it’s well worth it to investigate and find out if you qualify for a Federal Pell Grant. Many college students receive funding to help them pay for their tuition through these grants.
Military Spouse Career Advancement Accounts (MyCAA)
Another financial aid option is the Military Spouse Career Advancement Accounts (MyCAA). If your spouse is in the military, you may be eligible to receive up to $4,000 in student aid.
There are some restrictions on MyCAA though. In order to qualify, you must meet the following requirements:
- Your education must lead to a career that you can do regardless of location
- Your education must result in an Associate’s Degree, Certificate or Licensure
To find out more information about MyCAA, click here.
Student loans are probably the most common option when it comes to financial aid. Student loans have some definite advantages over grants and scholarships, namely that they can provide money not only for tuition, but also books, housing and any other expenses. They are also beneficial because the qualifications for student loans are not dependent on grades, only on financial need.
Though student loans do have lower interest rates than many other types of loans, the interest can still build up quickly. To ensure you are taking out the right amount of loan money at the best interest rate possible, visit our Student Loan Help Center.
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No matter what financial aid option you decide on, the first step is to fill out your Free Application for Federal Student Aid (FAFSA). Most scholarships, grants and loans use the FAFSA to determine financial need.
If you have questions about the various types of financial aid, which financial aid you qualify for or how to fill out your FAFSA, give us a call at 866.865.8067 or click here to find out more.