A College Student’s Guide to Financial Aid Options
by Many students lack the money to attend a “postsecondary” school. Luckily, there is money available to help students pay for their college education.
Attending a “postsecondary” institution (university, college or trade school) can be very rewarding as well as expensive. It is a reality that the cost of education continues to rise. If you want a good education, you have to pay for it. However, there is an abundance of financial assistance available through the government for those who have a need for it. So, even if you do not have the money to pay for a college education, there is money out there that every student can benefit from in some kind of way. Do not let the lack of money stop you from pursuing your dreams. You might be surprised at how much assistance you can receive towards your education.
Every year, many students receive money from federal student aid programs. Student aid comes in the form of grants, loans and federal work-study. The money is awarded through the U.S. Department of Education and is used to pay for a student’s tuition, room and board, books, supplies and other college related expenses. Grants are free money that you do not have to repay. Loans have to be repaid and federal work-study is earned by working in a job position located on or off of your school’s campus. If the job is off-campus, then the employer is normally a private nonprofit organization or a public agency, and the work that you perform must be in the public interest.
In order to receive financial aid, you have to apply for it and qualify for the money based upon several factors.
- Have a high school diploma or GED.
- Demonstrate a financial need.
- Have a valid social security number.
- Be enrolled or accepted into an eligible program at a participating school.
- Be a U.S. citizen or eligible non citizen.
- Register with the Selective Service, only if you are a male between the ages of 18 and 25.
In order to apply for financial aid, you must first complete the Free Application for Federal Student Aid (FAFSA). You can apply online by clicking here, Or you can visit any postsecondary institution and pick up the forms from the financial aid office. A Financial Aid Counselor can assist you with any specific questions you might have about the application. You can also call the Federal Student Aid Information Center at 1-800-433-3243 for additional questions or concerns.
In addition to federal aid, many schools offer scholarships, state grants and private loans. And many employers offer tuition assistance for their employees. Overall, there is a lot of money out there for students. You do not know what you qualify for until you apply for it. Do not let fear get in your way to success. Take advantage of the financial opportunities that are out there and go after your dreams.
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Post CommentGwynita Leggington
On December 2, 2007 at 9:46 pm
Hi Sandy. Thanks for your feedback. You are correct, there are many students that do not qualify for grant money or federal work-study programs. However, all students are eligible for student loans and many students receive scholarships each year. Of course, students have to repay the loans unless they qualify to have their loans dismissed. Also, a vast amount of employers participate in tuition assistance programs. Unfortunately some students do not qualify for grant money, but with the amount of financial resources available today, all students have a chance to receive a quality education. Thanks again for your feedback.
Chad Brown
On December 12, 2007 at 7:23 pm
This was a very informative and well-written article. I enjoyed reading it!