Student financial aid is often the first question people ask.
The answer is always the same: How much can I afford?
That question isn’t just based on what you can afford, it’s also based on whether you can get a good, free scholarship.
And, as it turns out, that depends on how you pay for it.
If you’re looking for a free scholarship, you’re going to need to find out whether you qualify for Pell Grants or Stafford Loans.
How Much Does a Pell Grant Pay for College?
Pell Grants are awarded to low-income students who have earned their undergraduate degree from an accredited, public university, and whose parents pay for the tuition.
You can get $5,000 or $10,000 for a Pell grant, depending on your income.
If you have earned enough to qualify for free or reduced-price loans, you can take out up to $5.9 million per year for three years.
Pell grants are only available to students from families earning less than $150,000.
That’s a big difference, as many of the people who take out Pell Grants have parents who earn at least $150 million.
A Stafford Loan is a federal grant that’s paid directly to borrowers who are in repayment for federal student loans, which is usually $27,500 a year for the cost of a four-year degree.
Students who take the Stafford Loan can get the money up to 20 percent of their federal loans, depending how much they repay.
Students who receive the Stafford Loans are required to work for two years and make a $500 monthly payment.
They can only get it if they earn more than $85,000 a year.
Even though you can’t get a Pell or Stafford grant for free, you could still receive financial aid through an online financial aid agency.
Here’s how to find one.
