College Transfer

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Financial Aid & Scholarships

Two Main Financial Aid Forms

- FAFSA or Free Application for Federal Student Aid
- CSS or College Scholarship Search Profile

Four Main Types of Financial Aid

- Grants
- Work Study
- Loans
- Scholarships

Financial Aid Forms

Free Application for Federal Student Aid (FAFSA)
The Free Application for Federal Student Aid must be filed by all Year 2 students applying for financial aid. The FAFSA can be filed as early as January 1 of Y2 and we encourage families to file by January 15th or February 1st at the latest. Students can enter up to six schools on the FAFSA. Additional schools can be added by using the FAFSA correction form. Paper FAFSAs are available, but online filing speeds up the financial aid process significantly.

www.fafsa.ed.gov
FAFSA Hotline: 800-433-3243

College Scholarship Search Profile (CSS)
The CSS is an additional financial aid form that is required by many private colleges. The form must be filed in addition to the FAFSA. It can be filed as early as October. To find out if a particular school requires it, please check with the individual college.

www.collegeboard.com
CSS Hotline: 800-239-5888


Sources of Financial Aid

Students receive a letter containing their financial aid package directly from the accepting institution. Ideally, the financial aid package meets the difference between the total cost of attendance (tuition, room, board, books, and fees) and a family’s expected family contribution, or EFC. To make up the difference, colleges offer a combination of some or all of the items listed below.

Grants

Grants are funds, often awarded by the college or universities, that do not need to be paid back. Students do not need to complete an application for grant monies. Federal and state grants, such as Pell and TAP, are also available.

Work Study

A federal program that gives students financial assistance through campus employment.

Loans

Loans are a form of financial aid that must be paid back after graduation. Below is a list of loan providers:
  • Stafford Loans: these can be subsidized or unsubsidized. In the case of subsidized loans, the government pays the interest while a student is in school. For unsubsidized loans, the student pays the interest on the loan and can defer payment until after graduation. Stafford Loans are awarded based financial need.
  • Perkins Loan: This is awarded to students with exceptional financial need.
  • PLUS Parent Loan
  • Private Loans
For further details, visit: http://www.finaid.org/loans/studentloan.phtml

Student aid packages can differ significantly and often play an important role in where students choose to continue their education. For this reason, it is important to compare packages carefully.

Web Resources for Financial Aid

Sources of Scholarships

Scholarships are funds that do not need to be paid back. Sometimes scholarships are awarded by the accepting institution. Students often apply for outside scholarships offered by community organizations, foundations, corporations, or employers.

There are many scholarship resources available on the Web, including the following:


Web Resources for Scholarships