Sources of Financial Aid
In this Assignment, you will examine a variety of sources of financial aid and write a paper in which you present key aspects of four specific financial aid programs, compare the similarities and differences of these types of aid, and provide some implications financial aid types have on policy. For this Assignment, you should use websites and printed materials distributed by institutions, private and public financial aid providers, and other reliable, published information to identify and present the provisions of four financial aid programs. Remember to include the Library and other resources in your research.
This is the sort of information you might gather as an employee in a higher education institution investigating the financial aid available to support current and prospective students. The information is used by higher education administrators when making decisions about tuition and fee increases.
Your Assignment is to provide an example for four out of the of the following five financial aid sources:
- Federal government grant/award
- Private funded grant/award
- Federal loan
- Private loan
- Institution-funded award
Completing your Sources of Financial Aid Assignment
- Decide which state and institution you want to include in your report on financial aid programs. You could choose the state in which you now live, or another one that is interesting to you. The school can be a public, private non-profit, or private for-profit college or university.
- Research the cost of attending the school you chose (i.e., tuition, fees, housing, books)
- Research published information about financial aid programs available through federal, state, and local governments and public and private entities, as well as the scholarships and tuition assistance programs available at the institution you selected. Select examples for four types to be summarized.
- Prepare your written description of each financial aid program in the format outlined below.
- Submit your Assignment through the Dropbox.
Format
Your Assignment should adhere to the following format (choosing 4 of the 5 types of aid listed below):
Introduction: Provide a context and purpose for your paper, including why you chose the state and school you did and provide information on the cost of attendance (e.g., tuition, fees, housing, books, etc).
Federal government grant/award: Identify the name of the grant or award you select. Present the provisions of the program such as eligibility criteria, rules governing the award, how the amount is determined, duration of the award, how many awards are available, and stipulations of the award, including how the funds may or may not be used, etc. Also, include the portion of the cost of education at your sample school covered by the funds and what the student must bear.
Private funded grant/award: Identify the name of the grant or award you select. Present the provisions of the program such as eligibility criteria, rules governing the award, how the amount is determined, duration of the award, how many awards are available, and stipulations of the award, including how the funds may or may not be used, etc. Also, include the portion of the cost of education at your sample school covered by the funds and what the student must bear.
Federal loan: Identify the name of the grant or award you select. Present the provisions of the program such as eligibility criteria, rules governing the award, how the amount is determined, duration of the award, how many awards are available, and stipulations of the award, including how the funds may or may not be used, etc. Also, include the portion of the cost of education at your sample school covered by the funds and what the student must bear.
Private loan: Identify the name of the grant or award you select. Present the provisions of the program such as eligibility criteria, rules governing the award, how the amount is determined, duration of the award, how many awards are available, and stipulations of the award, including how the funds may or may not be used, etc. Also, include the portion of the cost of education at your sample school covered by the funds and what the student must bear.
Institution-funded award: Identify the name of the grant or award you select. Present the provisions of the program such as eligibility criteria, rules governing the award, how the amount is determined, duration of the award, how many awards are available, and stipulations of the award, including how the funds may or may not be used, etc. Also, include the portion of the cost of education at your sample school covered by the funds and what the student must bear.
Comparisons and Implications: Compare the four types of financial aid programs you outlined, addressing the differences and similarities among them. Provide a brief discussion of implications the different types of available aid have on higher education policy.
Conclusion: Wrap up your paper, summarizing your major points.
The length of the paper for content is 2–3 pages long. Before you submit it, make sure it has proper cover and reference pages and follows APA (6th ed.) style.
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