• An educational loan is a form of financial aid that must be repaid, with interest.

• Financial Aid administrators suggest there is a good rule of thumb when discovering how much your loan payments will be. For every $10,000.00 you borrow, you will be paying $100-$120 a month for 10 years.

• Click here for a loan payment calculator.

• To apply for loans, students must complete the Free Application For Federal Student Aid (FAFSA) every year.

• Click here for a simple explaination of the various types of student loans.

Grants

• Grants are awarded solely on financial need. Unlike loans, grants do not have to be repaid.

• To apply for grants, complete the Free Application For Federal Student Aid (FAFSA).

• For more information on grants in the State of Ohio, visit The Ohio Board of Regents website.

Scholarships

• Scholarships are forms of student aid that help students pay for their education. Unlike student loans, scholarships do not have to be repaid.

• Contrary to popular belief, scholarships are not just awarded for scholastic achievements. Awards are also available for students who are interested in particular fields of study, who are members of underrepresented groups, who live in certain areas of the country or who demonstrate financial need.

• There are plenty of unusual scholarships available. Left-handed? ...there's a scholarship for you! Make your prom dress out of duct tape? ...there's a scholarship for that too! Click here to view some unusual scholarships.

• Some scholarships are available that cover full tuition and fees for students. For example, Ohio War Orphans Scholarship awards tuition assistance to the children of deceased or severely disabled Ohio veterans who served in the armed forces during a period of declared war or conflict.

• Other scholarships offer partial tuition assistance, but are certainly helpful when funding your education. For example, the Ohio Education and Training Voucher Program offers funds to foster youth and former foster youth to enable them to attend colleges, universities and vocational training institutions. Students may receive up to $5000 a year for four years as they pursue higher education. The funds may be used for tuition, books or qualified living expenses. These funds are available on a first-come, first-served basis to students out of the Ohio foster care system.

• Click here to search for scholarships you may be eligible to receive.