Really stupid question!

<p>Is financial aid a loan, or a grant?
My parents have very low income but they can pay for my college education(from money saved up).. So there would be no point of applying for financial aid if it is a loan, right?</p>

<p>Oh also.. I am a Korean living in Canada.. Would I have more chance if I applied to colleges with no financial aid? (like ivys)</p>

<p>I'm confused with this whole thing...</p>

<p>a financial aid package consists of both loans and grants. you never know what you might get, unless your family's income/savings is extraordinary. plus, the FAFSA is free. it's worth the try if you get something (besides loans) in the end. :]</p>

<p>It is true that financial aid consists of both loans and grants. And, it always makes sense to apply; you never know what might happen. FAFSA, just so you know, is the Free Application for Federal Student Aid. It is not a loan, grant, or scholarship. It's not clear to me from your post, above, if you know that!<br>

[quote]
Would I have more chance if I applied to colleges with no financial aid? (like ivys)

[/quote]

The Ivys actually have wonderful financial aid policies, and many of them include internationals in those policies. Check out the schools' financial aid web sites to begin to figure out the whole process. It is definitely confusing!</p>