Private College Student Loan

What is the best option for college a loan, grant, or scholarship? And how do you get grants and how they work?

Public Comments

1. Grants and Scholarships are best because you don't have to pay them back like you do a loan. You search for grants just like you do for scholarships and apply for them.
2. Grants and scholarships are going to be better because you don't have to pay them back. Grants are awarded based on income and you get them by filling out the FAFSA http://www.fafsa.ed.gov All legitimate grants are going to be awarded through this application. This application is also used to apply for federal grants. But, if you get enough in grant/scholarship money you don't have to accept the loans even if they are offered. Scholarships are usually based on merit and not so much on income. Things like GPA, SAT/ACT scores will be taken into account and often times an essay is required. So, scholarships are often more difficult to get because the funds are limited and only a certain number of people receive them. Federal grants such as the pell grant are given to anyone whose income is low enough to qualify. Same with federal loans.