It is not just the students who are planning on going to university but also the parents who are going through stress and confusion as they wonder how they are going to pay for the college degree. However, they need not feel that this is a daunting job as there are options for financial aid which are merit based and need based. For those who are completely unaware of the various options open for student loans and financial aid for further education it would help to do an online search of these options and learn more about them. Colleges are also keen on getting students to accomplish more and get better education and are out to help the need based student.
Financial aid is almost always required for further education like a college degree and the government and the colleges have made it possible for students to avail of this. This aid is provided by scholarships, work and study schemes, grants from private organizations and from federal agencies too. Each state also has its own plans to help need based students. If the college has funds to give out it helps the merit based students who prove their worth and who should be given the opportunity to study further.
Unless these options were available not many would be in a position to go through university education. Some loans have to be paid early during the tenure of the loan where as the need based loan can be paid back after the completion of graduation. The interest is also low and the payback terms less stressful. Students who have a good merit record are given scholarships which do not have to be repaid and all they have to do is to maintain a good record through out.
Another criteria which qualifies one for a substantial financial aid for college education is if the student is physically handicapped in any way. Those who have a physical disability and are keen on educating themselves are always encouraged and loans are easily available to them which do not have to be repaid. State owned colleges provide more financial aid than privately run ones.