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Financial Aid For Students With Disabilities
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Article on Financial Aid For Students With Disabilities
On an average, undergraduate students have to shell out over $12,000 for tuition and boarding at public schools. At a private institution, the amount is closer to $30,000. With such colossal figures, it is but natural that students will look for financial aid to cover their educational expenses. This article takes a broad look at financial aid for students with disabilities. Considering that more than 10% of the population attending undergraduate courses has a disability, this is a really important topic.
Grants for Disabled Students
Grants are obviously the best financial aid for students with disabilities for the simple reason that there is no need to pay them back. However, this also makes the selection criteria for grants a lot more intense. The most popular grant is the Federal Pell Grant. To be eligible for it, students have to fill out the Free Application for Federal Student Aid (FAFSA) form and meet a few other criteria.
Government Loans for Disabled Students
While they aren’t as popular as grants, loans make for great financial aid for students with disabilities. Unlike grants, students have to pay back the loans taken by them, but if the student qualifies for a government loan, the rate of interest is lower than private loans for students and the repayment plan is also less stringent. Undergraduate students can get in the range of $3,500 to $10,500 whereas for graduate students it can be up to $20,500 for each academic year.
Private Loans – the Last Resort
In case students do not qualify for government loans or the amount is inadequate to fulfill their needs, private loans can be got from lenders or banks. In order to qualify for a private loan, it’s important to have a good credit score, in addition to a few other factors. However, owing to the high interest rates charged on private loans, it’s always better to exhaust all possible options of federal student loans before looking for private ones.
The Vocational Rehabilitation Program
This is yet another option that can be considered by disabled students. It is not an out and out grant program but works in a more indirect manner. The main goal of this program is to help disabled people find gainful employment. Transition students who qualify for aid under this program work with a counselor to define their goals for employment and chart out an Individualized Plan for Employment (IPE). Part of this plan is to assist students with their post-secondary education or vocational training, including helping them financial aid. For students with disabilities, this works out to be an excellent option.
Scholarships for Disabled Students
In a way scholarships are quite similar to grants. Students are not required to pay them back. While there are several need-based scholarships, quite a few of them are merit-based too. There are various scholarships that are designed exclusively to offer financial aid for students with disabilities and it’s possible to know more about them by contacting advocacy organizations, like the Alexander Graham Bell Association for the Deaf and Hard of Hearing or the National Federation of the Blind, to mention a few.
With so many options to choose from, funding for their education doesn’t need to become a major concern for students with disabilities.
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