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Many people after school have a desire to continue their education and to study in the university. Majority of them want to enter Princeton or Harvard as they are most prestigious and have good reputation in the academic world. But usually the students do not have an opportunity to pay for the education and they apply for the financial aid. There are different types of financial aid for students, such as scholarships, grants and student loans. The first and second type must not be repaid; the third type must be repaid after graduation with interest.
 
There are many different lenders which offer different conditions. Much information about financial aid for students the candidates can find on the website Federal Student Aid (FinAid). This website contains the recommendations concerning the process of applying and drawing up of the documents. Besides, there are many useful articles on the site which help the students to reduce the expenses and save the money.
 
Besides, there are many links on the website to the financial aid programs. The candidates can determinate if they can apply for the particular type of aid. The main requirements for applicants are: citizenship of UK, possessing of Social Security number, certificate of high school and necessity of financial aid. Even if the candidate does not have enough motivation for receiving of federal financial aid, he can apply for non – federal and private financial aid.
 
There three different types of student loans – parent loans such as PLUS, student loans like Perkins and Stafford and non federal (private or alternative student’s loans). Perkins and Stafford Loans are guaranteed by the federal government and have low interests. Besides, they offer the extended repayment period and opportunity to defer the beginning of repayment. To receive these loans the candidates have to fill in the FASFA application form.
 
Patents can apply for the PLUS Loan (Parent loan for Undergraduate Students). Usually this type of loan provides fixed interest rate about 8.5 % and the repayment period up to 10 years after graduation.
 
Besides, students can apply for the private student loans. The receiving of these loans depends on credit history. Usually the students apply for private or alternative loans if they do not have opportunity to receive the federal student loan.