<p>I was surprised to hear that loan was one of the forms of financial aid.</p>
<p>I always thought FA was like full rides, x% tuition, or grants.</p>
<p>can't anyone get loans and slowly pay off the colleges?</p>
<p>I was glad that I don't have to bug my parents anymore with money issues since I thought I could slowly pay off the loan debts after graduation when I start to work. I guess not everyone gets loans?</p>
<p>I don't know what x%tuition would be
some get Pell grants although fewer will be eligible
most aid is loans- grants- workstudy
if you are lucky you will be offered subsidized loans
I believe that typically students take at least 10 years to pay off loans although if you can manage faster you will pay less interest :)</p>
<p>Loans are in the aid package. Most often, they're in the package because the only way to obtain them (direct loans, student direct loans, Perkins loans, etc.) is through the school.</p>
<p>Bank loans and the like are your responsibility, but the ones offered in the financial aid package often have special low interest rates, or the ability to defer because of more school, or not having to pay them back until 6 months after school is over.</p>
<p>x% tuition: I tried to say its like the college pays a quarter of your tuition or half of your tuition or a x percentage of it.</p>
<p>The average FA for Princeton and alot of other schools was like well over 20,000. I guess they're pretty generous about giving out loans.</p>
<p>One more question: what is the average interest a student pays?</p>
<p>and you can still apply for more FA if you perform well in college right?</p>
<p>Princeton no longer does loans... but most colleges DO count loans as part of their "award".</p>
<p>Financial aid policies vary at each college. I wouldn't assume that performing well will result in more aid; at best, it will help you keep what you have. Since most aid is need-based, each year's award will depend on your income and assets as well as your parents'.</p>