Military veterans have undoubtedly learned invaluable skills as members of the U.S. Armed Forces. After they are released from active duty, however, they may wish to take new paths. A college education can start them on a whole new life, with new triumphs–and new challenges–on the horizon. One of these new challenges shouldn’t be tuition costs. Veteran college grants can help.
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Unlike a private loan, private college grants do not need to be repaid. Private grants are simply a form of financial aid that comes from private non-profit sources as opposed to the government. (For-profit sources issue scholarships, not grants. Beyond this distinction, there are no real differences between private college grants and scholarships.) The sources of private college grants include universities, social clubs, scholarship organizations, and more.
People of Hispanic descent make up the biggest minority group in the U.S. This group is also the youngest. However, according to the Congressional Hispanic Caucus Institute (CHCI) in 2006, more than 87 percent of Hispanics did not have bachelor’s degrees. This poor number is due in part to financial hardship. Hispanic college grants can help more Latinos attend (and graduate from) the universities they desire.
Students who are planning their future college careers–but aren’t sure how to fund them–may worry about being saddled with enormous student loans after graduation. While typical student loans feature low interest rates and grace periods before they need to be repaid, the prospect of being approximately $50,000-$150,000 in debt fresh out of college is daunting. Federal college grants can help.
It’s no secret that college is an expensive endeavor. As of 2006, the College Board estimated that a year of college at a four-year public university was $13,000, which included tuition, fees, housing, etc. According to those same findings, those who wished to attend private school could expect to pay at least $27,600 a year. Even if a student graduates in four years, these costs can add up to a staggering sum. Students who are not entering college in the near future also need to consider that tuition rates increase about five to eight percent each year.