13 Disadvantages Of Financial Aid

1. Loans: You must pay back your student loans after graduation. Federal student loans offer low interest rates and a grace period during which you can find a job, but eventually you'll have to start making those repayments. Private student loans often have a higher interest rate, particularly if you have bad credit. 2. Scholarships are hard to get. 3. Grant: Disadvantage: Grants are hard to get. 4. No subsidized Federal Direct Loans for graduate students –Although the federal government will cover the interest payments on loans for undergraduate students who meet the income qualifications for a Direct Subsidized Loan, it does not offer this type of loan to grad students. 5. Limited investment growth potential. 6. Limited to state residents. 7. Subsidized loan: Disadvantage: You have to pay back the loan with interest. 8. Workstudy Program: It is money paid for work on campus to qualified students: Disadvantage: having to work and go to school.