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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. |
This is incorrect. Financial aid includes subsidized/unsubsidized loans and grants. I got 'financial aid' that I have to pay back. Financial aid is not always free money.