Financial Aid Financial Aid ~ is it available for master degrees and for veterans? Financial aid is usually provided as a means of assistance to those who do not have the essential means to fulfill their requirements and aims…
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Some are even homeless, and drastic measures need to be taken to restore their status and pride. Some Veterans require medical assistance as well. Aid needs to be provided to address the veterans’ educational and employment needs too. Therefore, both government and non-government institutions are playing an important role in providing financial assistance to the less advantaged individuals of the society. Government aims to provide financial aids through grants and loans for Masters Students, as well as veterans. Gauging how effective they are in this regard is, however, debatable. This paper will try to shed some light on this important topic. Student financial aid aims to fund students to assist them in paying their education expenses which essentially comprise of tuition fees, room, books, etc. for education at a college, university or private school. Financial aid refers to awards to specific individual students; these could be based on merit or need. Student benefits and scholarship are also different forms of imparting this financial aid to students to fulfill their education qualifications. Grants and student loans are also important components of financial aid packages offered to prospective students', especially those who want to pursue a Master’s degree immediately after the completion of their bachelors. It is more essential to provide financial assistance to those aiming for admission in Masters as the tuition fee per year for Masters is generally much higher than that for bachelors programs. In that manner, the deserving students who have done well in their bachelors and student life can be given a chance to excel more and secure a career for themselves. Therefore, steps need to be taken to facilitate their admissions into Masters Programs based on merit. It is a valuable opportunity for them which they otherwise might be deprived of, given the high cost of education for Masters. As Daniela (2011) explains, Financial aid is positively related to the success of academic studies, hence, government needs to focus even more on providing need and merit based financial aid. “Student aid recipients finish faster than comparable students who are supported by the same amount of parental/private transfers only and are characterized by the increased probability of actually finishing university successfully.” As Masters serves as a direct stepping stone form student to professional life, it is essential for the US government to give the required incentive, assistance and support to those young individuals who want to secure a better future for themselves and start earning to fulfill the needs of their families. Loans, grants and work studies are various kinds of financial aid that are being provided to students in the US for advanced studies. Much of veteran financial aid is focused on fulfilling the needs of a War-Time Veteran or surviving spouse. They are even provided assistance in the performance of daily tasks, such as eating, dressing, taking care of the needs of nature, etc. The focus of providing this financial assistance is to empower the veterans who gave up everything to serve and protect their country. As education is an essential field where veterans need financial support so they can equip themselves with skills to secure good positions in job markets, the US government focuses more on veterans’
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