It refers to the financial assistance that is given to the eligible citizens by the government. Often the aid given to them falls in the general category such as that of a scholarship that can only be summoned in specific conditions. The public education funds given by government to the students are excluded from this category.
People can also apply for this aid in certain circumstances that can range from physical impairments and illiteracy to the shortage in the demand for untrained work. When we talk in regards to the student financial aid, as the name suggests refers to the aid given for covering the educational fees and related accessories such as the books and accommodation in hostels. Many a times a scholarship is also included into this category.
In the scholarships category the ones that are awarded in regards to the merit top the financial aid's list. These are awarded by the external organizations to the meritorious students, who have shown exceptional and remarkable academic accomplishments. Several institutes consider new students at the entry level for financial help by default and also give out sports scholarships plus the academic ones. Other than that the most deserving category is that of the disadvantaged students who are in need of the financial aid but several institutions, more commonly the private ones require an application for exemption from fees accordingly.
But there are certain defects in this system, such as the people who are conventional savers are deprived of this aid. In spite of its intention of the analysis of the monetary requirements, the aid correspondence of the learners (students) who are in much want for it, are reduced considerably. Several times in numerous countries the students are also provided this aid for attending college or university. Several countries are reliant on private subsidies.
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