| That headline might surprise you if you assumed you weren't eligible for financial assistance to pay for college. Although starting to save early for college costs is still by far the best strategy, most of us find ourselves short of funds to fully cover college costs when the first tuition bill comes due. | |
| To Apply For Financial Aid | 1. After selecting a school, you must apply for admission and be accepted. 2. If financial aid is needed, complete a Free Application for Federal Student Aid or FAFSA. The forms are available from your high school guidance counselor or from the financial aid office of the school you will be attending. You can even get a copy from the Department of Education's website at http://www.ed.gov/. 3. Once completed, mail the FAFSA to the designated processor listed in the application. 4. In 4-6 weeks, the processor will mail you the results in the form of a Student Aid Report or SAR. Sign the SAR and take or mail it to your college's financial aid office. Your school will determine the types of financial aid you quality for and will notify you in an award letter. 5. If the award letter says you quality for a subsidized or unsubsidized Federal Stafford loan, come to your credit union for an application. If your award letter says that there is still an unmet need or that you do not Qualify for either of the Federal Stafford loans, your parent/step-parents may borrow under the Federal Plus loan program. 6. After completing your loan application, return it to your credit union. Here are some helpful links: www.finaid.org/ FinAid, the Financial Aid Information Page, provides a free, comprehensive, independent, and objective guide to student financial aid. www.salliemae.com/home/teen.htm Salliemae's goal is to make paying for college easier and less expensive for all involved. |
| Scholarships | Check with your local financial institutions, community organizations, and guidance counselor for information on scholarships. www.fastweb.com/ This is a tailored scholarship search of over 180,000 scholarships, fellowships, loans, and grants available to students for free. www.usnews.com/usnews/edu/college/corank.htm Here is US News' college rankings. You can get a ranking by public university, private, regional, etc. |