With college ahead and coming up fast, the rubber really meets the road as you work on your plan to pay for it.
Financial aid includes grants, scholarships, work-study, and federal student loans to help you pay for college. Most comes from the government and is sometimes called federal student aid. Financial aid is available to families from all walks of life and different income levels.
It's a common mistake to think that financial aid is available only to low-income families. Many states, for example, offer grants to students based on merit rather than need, and certain programs, such as the Direct Unsubsidized Loan Program, offer low rates and deferred repayment financial aid options to almost all students seeking financial aid for college. See our myths to receiving financial aid.
Applying for Federal Student Aid
The first step to receiving any type of federal financial aid is to complete and submit the Free Application for Federal Student Aid (FAFSA).
Your completed FAFSA application will help determine your eligibility for federal financial aid, such as federal grants, loans, and work-study programs. In addition, your state and college may use your FAFSA information to determine if you’re eligible for additional college financing. That’s why it’s so important to submit the FAFSA.
College Planning CalculatorSM
Every student and his or her family has their own unique path towards paying for college. The College Planning CalculatorSM is a free tool that guides you through creating a plan on how to save and pay for college with savings, income, grants, and loans in mind.
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