What is financial aid?
Financial aid is money from federal, state and private institutions
that's used to pay educational costs. Sources of financial aid
- The federal government
- The state government
- Colleges and universities
- Community groups, including religious and civic organizations, professional
associations and corporations
People are usually familiar with the first three sources of aid. But
they sometimes overlook the money available from community sources. Kathy
Ruby, the director of financial aid at St. Olaf College in Northfield, Minnesota,
says billions of dollars in outside scholarships go unclaimed because students
haven't applied for them.
"They're out there, but you have to have to
look for them. It takes research," she says.