Understanding your Financial Aid Award Letter (financial aid offer)

This video provides an overview of a sample financial aid award letter for an undergraduate student at a college in the United States. After being accepted to a college, a student will receive an award letter in the mail that lists the different types of financial aid that the student is being offered. This aid includes federal grants, federal work-study, federal loans, state grants, and institutional scholarships and grants (those coming from the college's own money). Students must then decide whether to accept or reject each type of aid. Students should always accept grants and scholarships because they do not have to be paid back- this is essentially free money. Students should also accept federal work-study funds, at least until they find out what type of work they will be asked to do (they might be offered a job in the library where they can do their homework and get paid at the same time). Loans are the least attractive type of aid and should be accepted with caution. Subsidized loans are the best because the government pays the interest while the student is in college. Unsubsidized loans begin accruing interest from the first day the loan is disbursed and thus are the least attractive type of aid aside from private loans. (Federally unsubsidized loans are more attractive than private loans from banks, because the federal government provides more flexible repayment options, loan forgiveness opportunities, and more generous credit terms. Private loans are the last option and should be avoided if at all possible.)
This video was funded by a Civic Engagement Fund grant from the Gephardt Institute for Civic and Community Engagement at Washington University in St. Louis.-
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[@myrao819]

I SOOOOOOOO NEEDED THIS VIDEO!!!!! THANK YOU!!

[@a1fraydough]

Bro so simply explained. Thank you!

[@tiptip5491]

This information was so helpful. Thank you!😊

[@justjesss9051]

Wow this is really informative. Thank you so much for this video

[@HaulywoodReviews]

This helped a lot. Thank you for posting this. It answered a lot of my questions.

[@taybandssss]

Thank you for this financial aid break down

[@krishpatel9873]

I have millennial parents that dont know anything this was very helpful

[@erickpeculiar823]

Thank you for making this video. It was very helpful

[@soylayazz12]

Thank you so so so so much for this information, I greatly appreciate it!

[@theonegreyjoy7403]

Thank you so much! This is much needed! Thank you!

[@clarisse2410]

THANK YOU SOOOO MUCH FOR THIS !!!

[@lauraelshire3725]

that's a way to understand it easy

[@ceca1113]

When you just starting collage did financial aid pay first payment or I should pay then they send me money??

[@Dermetsu]

I really wish I got 25k in grants and scholarships for two terms hahaha.

[@jillh1731]

Great video, thank you!!! Question...what are the options for the unmet needs, besides the parent loan?

[@Gserrano27]

REJECTS SCHOLARSHIPS TO ASSERT DOMINANCE

[@kanwalshahzadi2991]

What does no pending aid mean even i registered for classes and i dont have any charges but still why my facsa is not in pwnding

[@mixtapemania6769]

So nothing bad happens if you reject, right? They won't stop offering you aid for following semesters?

[@jerryspann8713]

But how do you accept these grants.

[@kanwalshahzadi2991]

I did took off fall smester amd since i m freshman i m starting my college this spring smester