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Sunday, December 13, 2009

Loans for College Students

By Jake Green

Let's suppose that you have a teenager who will shortly be graduating from high school. You will be proud of course, the same as any other parent. whose child is graduating from high school. It is one of those milestones of life that they have successfully passed, in spite of all the financial problems that you have probably experienced. It is time to be happy, for you have fulfilled your role of giving your child a brighter chance in life.

As per the understanding Bill gates had on the deprivation that is spreading on different ethnic groups, he has decided to help out the young generation of these groups to fight deprivation. According to him, teaching is the only solution to remove deprivation and differences among different groups. To support students from different ethnic groups to initiate and continue teaching, he has formed a institution called Bill and Melinda Gates institution. The vision of this charitable trust was to provide scholarships for students from low income families to continue teaching. For that they have formed a list of different scholarship schemes based on different courses.

The institution provides different amount of contribution to different type of organization. For example, historically black colleges and establishment who gives funding to deprived family, the institution provides contribution.

Gates Millennium Scholars Program is the main attraction for students. It is given to students who are excellent in their studious subject but are from low income families. The institution does not insist a lot of form filling process to provide these scholarships.

A Grant: it is the first kind of college financial aid that you should apply for. It just requires you to complete a FAFSA (Free Application for Federal Student Aid) application form. Once the application has been sent, it will be checked and if your child qualifies, he/she will be entitled to the full amount of what he/she has applied for. At this moment, you need not do anything much further except provide the name of the college or university that your child wants to enrol into.

A Scholarship: Despite the fact that scholarships are mostly meant for students who have the 'brains' but not the 'money', not all college scholarships are intended for academics. Students who do not have the best academic record can still qualify for many other college scholarships. There are college sports scholarships, community service work scholarships, social involvement scholarships and many others. These are just a couple of the different types of scholarships for your child if he / she is not that academically talented.

The amount provided as scholarship varies according to the module the students are undergoing. An undergraduate student will get an average of $7000/year. A graduate student will be provided with $15000 an year. This will not fully cover the cost of colleges for the student. But will cover the major portion of the coaching fee. The aim is to support the student's family.

The students can get an on campus job or try to get any other scholarship in addition to the scholarship provided by Gate institution. This will relieve them from the burden of student loan and can peacefully complete the module. - 23208

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