What is financial aid, what kinds of financial aid are out there, and how is one eligible?

This is for someone going into undergraduate studies, majoring in biology, planning to go on to medical school and become a pediatrician. He is moving out of his parents' house as soon as he is 18 and he is going to be renting an apartment off-campus with the financial help of another student going to the same college. Help?|||Financial aid is basically money to help you pay for college. It's usually in the form of a student loan that you have to pay back after you graduate, but it can also be free (like a grant or scholarship). You can read more about it here:


http://www.studentfinancedomain.com/fina鈥?/a>





Here are the steps to take to get financial aid:





1. Fill out the FAFSA. This is the form that will decide if you are eligible for financial aid. You can find it here:


http://www.fafsa.ed.gov/





2. If you qualify for aid, then you should get a government student loan. The best loan to get is a Federal Perkins Loan. It has a low interest rate, and the government will pay your interest as long as you stay in school. Read more here:


http://www.studentfinancedomain.com/stud鈥?/a>





3. Another type of loan to get is a Subsidized Stafford Loan. It has many of the same benefits as a Perkins Loan. Here:


http://www.studentfinancedomain.com/stud鈥?/a>





4. You also have the option of trying to get free grants or scholarships. Look here for options:


http://www.fedmoney.org/


http://apps.collegeboard.com/cbsearch_ss鈥?/a>


http://www.collegeboard.com/student/pay/鈥?/a>





Good luck!|||Financial Aid is mostly money awarded to those with financial need. There are several types of aid from entities like the federal govt, your state govt, and some times your school has aid they can give you. Not all of it is based on need though. the financial aid office at the school you will attend can explain better|||Depending on your friend's financial situation he could qualify for free money towards his education. A great place to start would be to apply for financial aid. This money is awarded by the government and he would not have to pay it back if he qualifies. Go onto the web site www.fafsa.edu.gov and apply for a grant.