Going away to university is a big step for any youngster, and one of the most confusing elements of the process is that of student finance.
There are many aspects of student finance that come together to make it a widely convoluted subject, so let's have a look at two distinct areas of the field that need to be separated.
When it comes to student finance it is important to know that there are two distinct ways of getting financial aid – student loans and student grants.
How does student finance work ?
Student finance and student loans are provided by a company set up to loan set amounts to students for the payment of tuition fees and other essential expenses, although there are other ways to borrow money, and the idea is that the loan will be repayable after graduation and when the individual concerned is earning beyond a certain amount per annum.
Student grants are financial incentives given by a wide variety of causes – from the government to businesses offering scholarships – that are non-repayable; to qualify for a standard student grant it is generally the case that the parents of the student must have an income of less than a set amount.
To apply for scholarships it is worth using the internet to look for what may be available for specific causes and subjects.
The various aspects of student finance are very much part and parcel of the life of the student, but it is one of those areas where help is necessary.
Use the internet to find out as much as you can and make use of the available student help organisations and you will find student finance a much easier area to deal with.