Financial Aid in U.S.A

Running Head : A RESEARCH ON FINANCIAL AID IN USA

FINANCIAL AID

Name

Name of University

Name of Professor

Subject

Financial Aid

Funds given by an organization , either private or public , or by the government , which aims to help students is called a student financial aid ' or sometimes may be referred to as scholarships . These funds are usually allocated for tuition fees , fees for books and school supplies and may also include extra allowances and money for shelter and clothing expenses . This allows families to send their children to

br universities that they have chosen , without worrying too much about the expenses (Rye , 2001

Financial aids or scholarships , is generally classified as either merit-based or need-based wherein the former is often awarded by the individual university or by other organizations . Students with good educational background , possess great potentials both or either in academics or sports , special talents in the field of arts and music , or personal characteristics , are often given merit-based scholarships (Wilkinson , 2005 . In some cases , the scholarship could be attained through affiliation with groups and does not necessarily require reports on the student 's financial capabilities or inadequacies . For some colleges or universities , they give merit-based scholarships or financial aid to students who pass their entrance exams , or students who were qualified to enter the university . For other universities or colleges , a student 's talent in sports is highly credited and is used as basis for a scholarship grant

On the other hand , the need-based financial aid , as the term implies is often granted to students who are in need of financial help . The financial need of a student serves as a basis , whether he or she receives the financial aid or not . In this type of financial aid there 's a set of standards or categories that a student should follow or fall into , in to be qualified . In this manner , the standards set by the Free Application for Federal Students Aid or FAFSA , is often used for making decisions whether to give financial aid to an applicant or not . For some private sectors or institutions , some added documents or requirements or supplemental application should be submitted in to avail of the financial aid . Letters of recommendation from a respectable person often helps increase the probability that a student would receive a financial aid

The history of giving financial aids trace back to two sets of questions . The first question deals on the degree of the grant and its receivers . Moreover , it deals on how big is the financial aid in proportion to the students ' expenses and educational budgets . It also deals on what proportions of the students were able to avail of the financial aid . The second question deals on the type of students , and the sufficiency of the financial aid . Furthermore , it deals on the question , Who got the aid , and how adequately ' Due to the increase in the educational awareness amongst people , there was an influx of students going to college . As such...