GENERAL FINANCIAL AID INFORMATION
In this day and age, most families need some sort of Financial Aid to help cover college costs. In order to receive aid from any college or university, the Federal or State Government, you must complete the Free Application for Federal Student Aid (FAFSA).
Private loans from banks, credit unions and other lending institutions are also available but are generally higher-interest loans than those offered by State and Federal aid programs. They often have variable interest rates, require a credit check and do not provide the benefits of federal student loans.
The College Board, the ACT and several other reputable websites offer comprehensive Financial Aid need estimators, calculators and other financial aid and scholarship information. However, as you are searching the Internet for college aid and scholarship information, we recommend that you are cautious in supplying much personal information online. Unfortunately there are some “scholarship scams” where companies are simply trying to get your name and address for commercial use.
Grants and Scholarships
Colleges also provide institutional grants to help make up the difference between college costs and what a family can be expected to contribute through income, savings, loans, and student earnings. They also offer merit scholarships which are awarded on the basis of academic or athletic achievement. Some merit awards are offered only to students whose families demonstrate financial need; others are awarded without regard to a family's finances. In talking with the Financial Aid offices at each college you are considering, remember to ask about their own institutional grants and scholarships.
Many local and community organizations such as the Rotary Club, Lion’s Club, Chambers of Commerce, churches and other community groups offer scholarships to students within their communities who have demonstrated high levels of academic achievement and/or community service. Your high school guidance office should have a list of those scholarships and information about the various application processes for those programs.
On-Campus Jobs
Work-Study jobs, funded primarily by the Federal Aid programs are available on most campuses and are awarded according to financial need as determined by the FAFSA application. If you receive a Federal Work Study award, you still have to earn the money allocated; receipt of the award simply guarantees that you can earn up to whatever amount is awarded within a given semester or year. Many colleges also offer on-campus jobs which are funded by the colleges themselves. For more information on these job opportunities, contact the college’s Financial Aid office.