Students who don't have a high school diploma but who have a GED may still qualify for federal and state student aid. Grant Financial aid awarded on the basis of need or merit that the student is not obligated to repay. This need-analysis formula was developed by College Board's College Scholarship Service. It determines the student's and the family's capacity to pay for college each year and is used by some postsecondary institutions for awarding institutional and private financial aid. Interest This is the amount of fee charged to borrowers for their loans.
Interest is calculated as a percentage of the principal loan amount.
This is the process of reviewing a student's aid application to determine the ability of the family to contribute to the costs of education. The initial amount of the student loan. Interest is charged on this amount, and guaranty and origination fees are deducted prior to disbursement. In North Carolina, a person does not necessarily have to be a US citizen in order to be classified as a North Carolina resident for tuition purposes. However, a person must reside in this state for at least 12 months prior to the date of enrollment or re-enrollment in a postsecondary institution.