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What Role Will Financial Aid Play?

About 70% of college students receive some form of financial aid, but students and their families should understand what kind of aid they're receiving as well as the terms of any loans.

Christine Benz: We're talking today about college funding, and one increasingly important aspect of paying for college for lot of families is financial aid. What all comes under that umbrella of financial aid?

Adam Zoll: Well, in fact, Christine, I think the financial aid is probably one of the most misunderstood components of college financing. When most people hear financial aid and the prospects of getting financial aid for their child, for example, their eyes light up, and they think free money.