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Originally Posted by Bizzymammabee  No Financial Aid are govt grants to pay for school. The amount you can qualify for is dependent on your income. You don't have to repay that. You are thinking about Subsidized and Unsubsidized Student Loans. Those are guaranteed by the govt and with subsidized you don't accrue interest until you graduate. There is a cap to that amount. Once you hit the cap you venture into the unsubsidized loans, which the minute you take the loan the interest starts accruing. |
After I reread what you were saying, we are saying basically the same thing. But, I just wanted to emphasize, that it's all considered financial aid. Income, Loans, scholarships, and grants. It's all part of the financial aid process. Low interest loans (although I question the Low interest statement when it cost more to go to school than it does to get a loan on a house) is still considered financial aid.