Financial AidIf you’re like most parents, navigating the Financial Aid and merit-based aid application process can feel overwhelming but it’s a worthwhile investment of your time. Your student may be eligible for more than you think. Here’s a quick rundown to help you better understand the process.
Sources of Financial Aid:
Types of Financial Aid:
- Colleges & Universities
- Private Organizations
- Work-study jobs
The three main ways to help finance your child's college degree are:
1. FAFSA (Free Application for Federal Student Aid)
- Completing the FAFSA makes your student eligible to receive aid from federal, state, and college sources. You will use 2015 tax returns.
- Public & private colleges accept the FAFSA.
- File the FAFSA from October 1 - March 2. Apply early to receive the best aid.
- Request to have your FAFSA sent to the colleges to which your student is applying.
2) College and University Scholarships & Merit-based Aid
- Check each school’s website for details about how and when to apply.
- Automatic Consideration: Some schools provide students with aid automatically when they apply and meet certain criteria. Many west coast public schools participate in WUE (Western Undergraduate Exchange) which provides steep reductions in tuition.
- Additional Aid Application: About 400 private colleges and universities ask students to submit the CSS/ Financial Aid PROFILE.
3) Private scholarships
- While many private scholarships may only award a few hundred dollars, these can help cover the costs of books and incidentals.
- Scholarships are both merit and need based.
- Schoarship search resources