“Financial aid” is a term that is used at all levels of education. Financial aid are the funds that are given to a student to help pay for the expenses related to education. For example, tuition, school fees, books, supplies and in some cases room and board.
Financial aid can come from a variety of different places and can be based on many different things. For example, many schools or institutions give out financial aid-based on merit. For example, at Queens College the psychology department awards a merit based grant to graduating seniors to help them pay for graduate school.
The other form of financial aid is need-based aid. This is given by schools, financial institutions or the government. Many schools offer scholarships for students that meet a certain criteria, for example a student from a household that has an annual income below a certain amount. The federal government also offers financial aid in the form of loans.
Many people are not eligible for the forms of aid mentioned above; for those students a loan is their only option. The most common form of financial aid is a loan from a bank or other financial institution. People Capital can help with that. Using their People Capital lending platform thousands of students can now be matched up with a lender at a reasonable rate. The Human Capital Score is a data driven method to quantify a student’s potential to pay back a loan. Unlike traditional forms of evaluating potential borrowers The Human Capital Score uses data such as GPA, standardized test scores, major and choice of college or university to determine credit worthiness.
This is great news for students who need help paying for college or graduate school but aren’t eligible for certain kinds of financial aid and don’t have much or any credit history. So check out www.people2capital.com to find out how People Capital can help you get the education you deserve and not just the education you can afford.