Finding College Financial Aid
Over 60% of US college students receive some form of Financial Aid. If you’re thinking about applying for some, read this article for some tips on how to do it and what to bear in mind before you apply.
How much do you need?
It’s important to work out before you even consider applying, how much finance you’ll need to go to college. Schools do vary enormously in cost, and if you’re living in a city you might have other costs to bear in mind, too.
Draw up a list of things you’ll need to spend money on when at college, and be sure to include not just tuition, but books, food, lodging, supplies, travel and personal expenses (aka beer money). Once you’ve worked out your budget you’ll be in a clearer position as to what your funding target needs to be.
Know the system
There’s no point applying if you don’t have a very good idea about what’s available, and what you are eligible for. Fill out the form on the right hand of this page to get your hands on the FreeEducationGuide – a downloadable resource that shows you where to find more information on financial aid, scholarships and grants. It includes a ‘how-to’ guide and also gives you access to over 1900 colleges.
Alternatively, you can get it by visiting the FEG website here. It’s probably one of the more useful resources online.
Are you eligble?
Before applying to any grants, scholarships or other types of financial aid it’s very important to know that you qualify beforehand. I’m going to say it again: be sure you qualify BEFORE applying. Otherwise your applicaton will be rejected, and you will have wasted time.
If necessary, pick up the phone and speak to someone within the funding department of the college, or anyone connected to the funding option in some way.
Merit Vs Need
Remember that not all aid is for the worst-off students. Those who perform well academically can also be eligable for funding. Be sure to check those avenues too, if you think you are brainy and might not qualify for funding based on your financial circumstances.
Submit in plenty of time
Be organized, and make sure you apply well before the deadline is up. Some financial aid is awarded to those who apply and qualify first, until that money is used up. So if you apply late, you’re risking missing out.
If you are applying for federal aid, remember that you’ll need to complete an analysis form and also colleges might also ask for a form that includes information about your financial position. You need to submit these as close to the January 1st opening time as possible.
Remember – the sooner you apply, the greater chance you have. Simple, but true!
Explore plenty of options
Just applying for one or two grants probably won’t be enough. The more you apply for, the greater your chance is. Don’t limit your options.
Good luck!
Download the Free Education Guide by filling out the form on the right hand side of this page, or go directly to the FEG website by clicking here. It contains a how-to guide for applying for grants, scholarships and other college financial aid. You also get access to search over 1900 colleges.
You might also be interested in:
The Federal Student Aid website (FAFSA)