Financial Aid

Financial Aid
Three Categories of Aid

• Merit – awarded for achievement
• Need-based – based on family financial situation
• Non-need based – PLUS, unsub loans, campus work, payment plans

Two kinds of Aid

• Self-Help – Loans, Work
• Gift – Scholarships, Grants

Sources of Aid

• Federal Programs – vast majority of funding – Pell, Loans, Work
• State Programs
• Institutional Programs
• Outside Agencies – corporations, foundations, churches, organizations

Application Timetable

• Summer, fall – investigate and apply for scholarships from outside agencies and colleges
• December – get Free Application for Federal Student Aid from your counselor
• January – complete the FAFSA as soon as your parents complete their taxes

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