Why Financial Aid Is Important

Financial Aid is money offered by the government, college, or foundations to assist a student in his college expenses; however, before attending any university, one must apply for FAFSA. FAFSA helps students pay for college whether it’s through loans, grants, scholarships or work-study. This assistance can cover educational expenses including tuition and fees, room and board, books and supplies. Therefore, I believe the most important financial topics that will help me on my journey to financial success are scholarships, banking, and saving.
Students need to understand the necessity of scholarships to achieve financial success at a university. A scholarship is money for college that one does not have to pay back; there are many scholarships around the world that people do not take advantage of. A student can gain as little as $100 just from applying for a scholarship, but they can also gain as much as a full ride to any school of their choice. Scholarships usually request a well-organized response to a prompt or scenario; however, there are some that require simple tasks or qualifications such as being over 6’2 inches tall or being a student of color. A student should take full advantage of scholarships by applying to a plethora of them; this will increase one’s chances of being selected as the winning recipient. As a result, the student will have
Money saved in a bank account early on can be used for different reasons such as bills or college funds. I recommend that students create a bank account specifically for college funds as early as possible so that they already have some significant amount of money saved up for college. A savings account should be established for the child from the early ages of their life. Consequently, the student will have accrued a surplus of money by the time he graduates high school and will have enough to attain a collegiate