One reason why students should complete the FAFSA even if they don’t think they’ll qualify for financial aid is because of the possibility of college work-study jobs. Work-study jobs require completion of the FAFSA and even if your EFC keeps you from receiving any federal grants, you could land a nice work-study job depending on … Read more
Most parents know that they will need financial aid to send their kids to college. But they don’t always understand financial aid actually comes from a variety of sources and can vary depending on the college. Do you know the answers to the following financial aid questions? ShareTweetFlipEmailPin22 Shares
There has been a lot of discussion of simplifying the FAFSA. The argument is that too many low-income students don’t apply because they are intimidated by the process, don’t understand that they can qualify for significant grant aid, or don’t have all of the required information. All of these are legitimate concerns that can be … Read more
Parents of High School students-Don’t miss this FREE class: Where to Look for College Money. If you’re planning on sending your kids to college, there’s no point in sticking your head in the sand about how you’re going to pay for it. Just like when parents tell their kids what they do as freshman and … Read more
Financial aid is money students are awarded to pay college. There are two forms of financial aid: gift aid and self-help aid. Gift aid is money that the student doesn’t have to repay. It can take the form of scholarships or grants. Self-help aid is money the student will be responsible for repaying such as … Read more
There are two types of federal guaranteed student loans: subsidized and unsubsidized. The subsidy refers to the payment of interest while the student is attending school or is in a deferment or grace period. For qualified students, the federal government pays the interest on the loans and therefore “subsidizes” the student loan. Subsidized student loans … Read more
The Free Application for Federal Student Aid (FAFSA) can be filed any time after October 1st of the student’s senior year. You should submit your FAFSA as early as possible since many schools distribute certain types of financial aid on a first come, first served basis. Since the FAFSA requires information from both the student’s … Read more
Financial aid consists of all awards from government sources, private organizations, and colleges themselves. Therefore, eligibility for financial aid will depend on the source of the aid. For federal financial aid and most state programs, besides demonstrating financial need, students must meet the following requirements: be a U.S. citizen or an eligible noncitizen; have a … Read more
Financial aid is awarded based on two general categories, need-based and non-need (merit) based. When people hear the term “financial aid,” they are generally thinking of financial assistance provided because of the student’s financial need. A student’s financial need is based on her financial status and the cost of the school she actually attends. Financial … Read more
