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There are lots of ways to cover your education costs. Learn the benefits of each and nail down the right combination to create your personalized plan.
Provided you are eligible, grants are a preferred way to pay for college expenses. Grants are based on financial need and do not need to be paid back. Completing a FAFSA is the only application required for federal grants.
Another preferred aid option, scholarships are an excellent way to cover costs and do not need to be paid back. Some scholarships can be renewed in future years. Others are specifically for one year or one semester. You must apply for scholarships.
Typically used to bridge the gap, loans help pay for expenses that other types of aid and resources do not cover. Unlike grants and scholarships, loans need to be repaid. Each type of loan has its own application process.
The Federal Work-Study Program allows you to work in offices across campus in a part-time position related to your major. Compensation is in the form of a paycheck, which can be used to cover educational expenses.
Payment Plans
Thanks to the Penn College Deferred Payment Plan, eligible students can split their bill up into smaller payments over the first twelve weeks of the semester. Just pay a $30 enrollment fee plus a 20% down payment (tuition, housing, related fees) and you’re in. The remaining balance will be spread out among four additional installments, each representing 20% of the total due.
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