Financial
Aid
You can receive financial aid!
Don’t delay your dream for college. Even if money is tight,
there are many resources to ease the financial burden. Failing to
apply for aid because you think you won’t qualify is a mistake.
FAFSA is important first step
One of the first and most important steps in obtaining financial
aid, including loans and scholarships, is completing the Free
Application for Federal Student Aid (FAFSA) form with the US
Department of Education. This paperwork determines how much aid
families may receive. It can be submitted as early as January 1
of the college entering year. Many colleges make financial aid and
scholarship decisions by Feb. 15, using information from this form.
You can obtain the FAFSA form from your high school counselor. It
can also be completed online.
The application calls for figures from the current year’s
tax return. Don’t wait until your family files taxes. Tax
information can be estimated and corrected later.
Financial aid is typically awarded in three categories:
- Merit-Based Aid
Your award is based on specific talent or ability. Usually, your
financial circumstances do not affect your ability to qualify
for this type of aid.
- Need-Based Aid
Aid is based on your family's financial situation, using standards
set by the federal government.
- Non-Need Based Aid
Assistance is available regardless of financial circumstances.
Grants, loans, scholarships and awards are linked to specific
organizations, programs of study or unique circumstances.
Common types of aid
- Grants and Scholarships
These funds don't need to be repaid. However, some special grant
programs require a commitment to work in an assigned location
for a specified number of years.
- Loans
These funds you have to pay back with interest over a period of
time.
- Work Programs
These programs include assistantships, cooperative education programs
and work-study. They are essentially jobs arranged by schools
to allow you to work while you are in school to earn your aid.
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