LibGuides: Financial Foundations : Financial Aid and Scholarships

Paying for your Education

Federal aid, scholarships, grants, and loans are all forms of financial assistance for education, but they differ significantly in terms of their sources, requirements, and repayment obligations.

Federal aid is financial assistance provided by the federal government, encompassing various programs including grants, loans, and work-study opportunities.
Scholarships are merit-based awards granted by institutions, organizations, or individuals to students who meet certain criteria, such as academic excellence, athletic ability, or artistic talent, and typically do not require repayment.
Grants, similar to scholarships, are need-based financial aid that does not need to be repaid; they are often awarded by governments or institutions based on the student's financial situation.
Loans, on the other hand, are borrowed sums of money that must be repaid with interest. They can come from the federal government, known as federal student loans, or from private sources such as banks or financial institutions.

Each of these financial aid options plays a crucial role in helping students fund their education, but they come with different conditions and benefits.

MDC Financial Literacy Resources

Financial Literacy
The Miami Dade College Financial Literacy website offers resources on budgeting, saving, fraud prevention, credit management, and wealth building. It aims to equip students with the knowledge and tools for financial success during and after college.
Financial Literacy Program: School of Continuing Edu & Professional Development
The MDC Financial Literacy Program offers a three-week master class designed to help participants create effective budgeting habits, improve and maintain good credit scores, and build wealth. The course covers personal credit, budgeting, and wealth-building strategies, including maximizing employee benefits and understanding different income streams. The program aims to provide the knowledge and tools needed for financial success.
How Aid Works
Maintaining good academic standing is essential to keep your financial aid. Financial aid, including scholarships and grants, requires meeting certain academic criteria like a minimum GPA and completing enough credits each semester. Not meeting these standards can lead to losing your financial aid, making it harder to afford your education. In short, staying academically successful ensures you can continue to receive the financial support needed for your studies.

Books on Scholarships and Financial Aid

8 Steps to Paying Less for College by The Princeton The Princeton Review
ISBN: 9780525568001
Publication Date: 2019-01-15
FINANCIAL AID MADE EASY! This concise, easy-to-follow guide breaks the confusing college financial aid process down into 8 simple steps to help you afford your education. Alas, not everybody started saving for college when their kid was in diapers. But there's still hope-and help! This friendly guide distills the confusing financial aid process into 8 clear, actionable steps you can take RIGHT NOW to help afford college. The underlying message is simple- Parents and students who understand how to apply for financial aid get more financial aid. Armed with the checklists, timelines, and info in this book, you'll be able to- . Figure out what colleges actually cost . Understand grants, loans, work-study, and other forms of aid . Get to know the FAFSA and CSS Profile(TM) . Research scholarship opportunities . Quickly compare financial aid offers from different schools . Find creative ways to lighten your debt load Note- This book is designed to be a quick primer covering the most useful core finanicial aid information. For students and parents looking for comprehensive, A-Z guidance-including long-term strategies and step-by-step help on the forms-check out Paying for College,The Princeton Review's classic and definitive guide to the A-to-Zs of financial aid.
1001 Ways to Pay for College by Tanabe; Kelly Tanabe
ISBN: 9781617601668
Publication Date: 2021-05-18
Completely revised with updated descriptions, contact information, websites, and available monies, this guide to financing higher education is the only resource students need to fund their pursuit of knowledge. Balancing detailed explanations with real-life examples and practical resources, the featured topics include finding and winning scholarships, requesting a reassessment from colleges for more financial aid, maximizing assistance from state and federal governments, taking advantage of educational tax breaks, and benefiting from government-subsidized student loans. Creative strategies--such as starting profitable dorm-room enterprises, trading tuition costs for volunteer service, and canceling debts with loan-repayment programs--help students find extra money when more traditional routes are exhausted. The provided tips are designed for students of all ages and levels and their parents.
How to Write a Winning Scholarship Essay by Gen Tanabe; Kelly Tanabe
ISBN: 9781617601323
Publication Date: 2018-06-12
Examining the two basic components of scholarship competition--essays and interviews--this vital guidebook offers practical advice and real-life examples to guide students through the entire application process. A roundtable panel of judges and applicants supply inside information regarding the winning qualities sought after by award-giving organizations and tips for finding scholarships by using books, the internet, personal connections, and sources in the community. With insight into the judges' criteria for a successful application, 30 previously awarded scholarship essays are thoroughly analyzed, from choice of topic to writing style. Revealing unique strategies for preparation and overcoming nervousness, this definitive resource also includes sample interview questions and answers.
Winning Scholarships for College by Marianne Ragins
ISBN: 9781950653232
Publication Date: 2024-01-31
Containing numerous scholarship and college money resources, this classic guide will show you the path to scholarship success. This fully loaded educational resource guides readers through the use of the Internet and social media in their scholarship search; and gives detailed suggestions for essays with examples from the author's own highly successful scholarship search.