Financial Aid Options at Crave Beauty Academy

Federal school grants are financial resources provided by the government, designed to support eligible students in meeting their educational expenses. This includes tuition, textbooks, and supplies, and more. Grants are unique in that they are essentially free funds, not requiring repayment. They are typically awarded based on specific criteria, primarily financial need, and other qualifications stipulated by the government to ensure equitable distribution.

Federal loans are a type of financial aid provided by the government to support students in financing their educational costs. Unlike grants, loans require repayment with interest, generally after the student’s graduation. Federal loans offer the advantage of flexible repayment options and lower interest rates compared to many private loans, making them an attractive choice for financing education. These loans can be used to cover a range of educational expenses, including tuition, room and board, textbooks, and various other costs associated with attending school.

There are two primary types of federal student loans: subsidized and unsubsidized. Subsidized loans are based on financial need, with the government covering the interest while the student is in school and during certain deferment periods. Unsubsidized loans are available to a wider range of students and accrue interest from the time they are disbursed, although students can choose to defer interest payments until after graduation. Both types of loans provide essential financial support for pursuing higher education.

Scholarships are financial grants that are given to students, often by educational institutions or individuals, with the primary aim of aiding in the funding of their education. Unlike loans, scholarships are a form of financial assistance that does not need to be repaid. Scholarships can cover a variety of educational expenses, including tuition, books, fees, and other school-related costs.