Basic assistance categories:
- Financial need-based
Remember that students and their parents are responsible for paying what they can– financial aid is a supplement, not a substitute, for family resources. - Non need-based
Factors include academic excellence, ethnic background, or organization membership. Corporations may also offer assistance to employees and children.
Federal Student Aid:
- Provides nearly 70% of student aid under Loans, Grants and Work/study programs.
- Available to all need-based applicants; some loans and competitive scholarships for non need-based.
- Free information from the U.S. Department of Education:
- Student Aid on the Web
- Financial Aid Resource Publications
- Loans are the most common federal aid and must be repaid when you graduate or leave college:
- Stafford Loans
- Federal PLUS Loans parental loans, not need-based.
- Perkins Loans for the most needy undergraduates; through participating schools.
- Scholarships/grants are mostly need-based and require no repayment:
- Pell Grants
- Federal Supplemental Educational Opportunity Grants (FSEOG)
- “Congressional” scholarships:
- Named for Member of Congress or other prominent individual (such as Byrd Honors Scholarships, Fulbright
- Merit-based and highly competitive.
- Members of Congress do not play a role in selecting recipients.
- Work study programs allow you to earn money while in school:
- Federal Work Study Program: college campus jobs
- USA Jobs: Welcome Students and Recent Graduates: jobs with the federal government
- For questions not covered by the Department of Education Web site, call the Federal Student Aid Information Center at 1-800-433-3243.
- States offer residents a variety of scholarships, loans, and tuition exemptions.
- Check with your state higher education agency and guarantee agency.
- Consider prepaid tuition and college savings (“Section 529”) plans: College Savings Plans Network.
- Search your Internet browser under terms such as student financial aid or assistance AND your state.
Colleges and universities provide some 20% of aid, most need-based. Check your university web site and the institution’s financial aid office when you apply for admission.
Private foundations, corporations, and organizations offer scholarships or grants:
FastWeb
Free Scholarship Search
Grants for Individuals
