College Financial Aid Sources
Are you in serious need for college financial aid? Here is my absolute number one tip:Visit the Federal Student Aid Website
It outlines the kinds of college financial aid schemes available, eligibility requirements, application procedures and updates on newly announced aid schemes. It’s worth going there and reading around.
The next place you should be looking at is the distance learning college you are planning to attend.
Perhaps you have been accepted to many colleges, both online and the traditional bricks and mortar ones. The financial aid given by each will most likely be different so you may need to consider the following before deciding on one:
a)Courses and programs offered
b)Location [for traditional universities]
c)Room and board expenses [for traditional universities]
d)Financial aid available from external agencies
e)Cost of tuition
Now, this may not be an easy decision for you. One reason is that an institution may be offering you a more generous financial aid package than another but you really don’t want to go there.
Another reason is that the financial aid you’ll get from the distance learning school of your choice might be affected by aid received from external agencies. Checking with the financial affairs offices of the colleges you’re considering should help give you some clarity.
So where can you find college financial aid? Here are great sources for the three most common types of aid; grants, loans and scholarships:
1)Grants & Scholarships
The Federal Student Aid Website lists application procedures for the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), the National Science and Mathematics Access to Retain Talent Grant(National SMART Grant) and the Academic Competitiveness Grant.
Additionally, information on non federal loans and grants and the Robert C. Byrd Honors Scholarship Program is listed there.
Local Searches: Visit civic groups, companies, churches and other organizations in your area. They may offers grants. It is also a good idea to check with your high school guidance counselor’s office.
Online & Book Searches: This may be a bit daunting due to the wealth of information available but a great place to check would be your local library. The librarian might know of a database of grants and scholarships you can check.
2)Loans
On the The Federal Student Aid Website you’ll also find information and application procedures on the Plus Loans, Federal Perkins Loan, the Federal Family Education Loan (FFEL) Program and the William D. Ford Federal Direct Loan (Direct Loan) Program. Both the FFEL and Direct Loan programs consist of what are generally known as Stafford Loans.
Bank Loans: This should really be your last resort. A bank loan will charge a higher rate of interest and you’ll have to pay it back whilst attending college.
In conclusion, when applying for student financial aid, it would be advisable to start looking early and take things slowly. This way you reduce or eliminate any feelings of overwhelm.
Also, there is no need to pay for a scholarship search. The Federal Student Aid website lists many sources and ways to avoid scholarship fraud.
