Within the next few weeks you will be receiving your admissions decisions from all your colleges and financial aid packages from the colleges where you have been accepted.
Grants can originate from the federal or state government or the college itself.
A loan will have to be repaid regardless of whether or not the student graduates, is satisfied with the education provided, or has any income. The financial aid award letters will not necessarily make it clear which offer will be best for you. Families often get swept up by the total value of the aid package. It is up to you to carefully compare each aid package. Here are some questions to ask to help you analyze different aid packages.