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Financial Aide For College – What Are Your Options

April 29, 2012

Financial Aide For College

Financial Aide For College

There are a small number who are fortunate enough to have their education paid for via scholarships or help from their family, but most all students have had to obtain financial aide for college through more traditional methods in order to fund their college degree. Being that you are looking for financial aide for college it means that you are interested enough in considering the descision to go to college, which getting your degree can help you immensely in so many ways. But if you do not have the money to pay for college outright, don’t let that deter you from attaining your degree, as there are so many ways that you can go about getting financial aide for college, which below we discuss in great length about the methods that you can use for yourself.

Methods For Getting Financial Aid For College

First things first, and that is filling out a FAFSA, which most like you have heard of which it stands for Free Application For Federal Student Aid. This can provide you with financial aide for school in two forms, those being grants like through the Pell Grand and the Supplemental Opportunity Grant as these are two great grant programs, where you can get thousands of dollars a year from to use towards funding your college education, which the money is free, you never pay it back. The other form of financial aide for college that comes from filling out your FAFSA is federal loans, which the 3 main loans programs offered are the Perkins Loans and Stafford Loans which both have options where your credit score doesn’t dictate eligibility only your financial need, as well as PLUS Loans which are specially for parents who want to take out a grant to fund their childrens schooling. You will need to fill out the FAFSA every year that you are in school and are looking to receive financial aid for college through it.

Personal Grants & Scholarships

Another great way to get financial aide for college is to apply to programs, both private and federal, that offer grants for things like what race you are, your religion, age group, talents, marital status, sports you played in the past and more. Also depending on what profession you are looking to go into, there can be grants for that area of study along with programs that offer to give you financial aide for college that can fund your entire education after you make an agreement with them that you will provide your service in specific areas that need teacher in what you are studying.

Through Your School

Schools offer studetns financial aide packages that can provide funding for education, which you can use for your college. Now often times this can provide you with money to pay for most your education but not all of it, which you can actually negotiate with your college and ask them to provide you with more funding. Getting financial aid for college directly from the school you are going to can provide you with great repayment terms as well as low interest rates.

School Location

If you are unsure about which college you ultimately want to attend, consider going to a lesser known college in more of an obscure location that some of the most popular areas. Doing this can help you get lower tuition as well as more options for financial aide for college through the school itself as often times these schools will provide excellent financial aide to attract students to attend their school.

Federal Work Study Program

Now you can also attain financial aide for college by using working a job that is provided to you through the Federal Work Study Program which is actually done by going through your school as most all colleges throughout the US provide the FWSP which they provide students with jobs that have to do with either the profession that they want to enter or a related profession. The money that is earned by the student on the job goes to paying their tution bills.

Private Lending

Now the last option that you will want to consider is private lending which you can get through private providers like banks, financial institutes and better yet credit unions. Now private lending gets a bad name due to the fact that it comes with lareger interest rates and less time provided to pay offer your debt, but it can be used when you are out of resources, which credit unions should be your first place to start when looking for private lending.

If you have came to this page and are still in high school, the best way to get financial aide for college is obviously striving to get the best grades as well as partaking in extra curricular activities as you can get grants and scholarhips based off of both of these categories.

Student Aid Report

September 5, 2011

Student Aid Report

Student Aid Report

The goal of a Student Aid Report is essentially to gather information about you to determine what your EFC also known as Expected Family Contruibution (EFC) is going to be for the cost of college. So if you are going to be receiving a lot of help, then you will get less financial aid, and if you are going to be getting minimal financial help, than what you can get in financial aid will go up.

Student Aid Report – Major Overview

A Student Aid Report also know as a SAR is the summary of the responses that you filled out on your Free Application of Federal Student Aid (FAFSA), which if you don’t know what a FAFSA is, it is an application which determines your qualification for federal student aid, loans, grants as well as scholarships.  The Student Aid Report is sent to you after your complete the FAFSA, either through the mail, or if you provided your email address on the SAR, you will receive information through emial. When you complete your FAFSA, you can designate up to 6 schools to get your Student Aid Report.

If all the information you supplied on your FAFSA is completed in full, what will come back through email or mail will be a single page of information that contains :

  •  Your Expected Family Contribution.
  • Your DRN number which is what you will use to verify that you are actually you if you ever need to make changes to your application.

If you happen to not fill out any part of the FAFSA, your Student Aid Report will come back in the form of an 8 page packet in which will have the highlight the blanks that you have missed. You will need to fill in this information and send it back in, and remeber to sign the Student Aid Report if you haven’t already. To avoid this, check through your FAFSA mutliple times just to make sure you completed everything.

Getting your Student Aid Report

Once your have received your Student Aid Report, you need to check if there are any mistakes on the report. You can do this by comparing the FAFSA you filled out to your Student Aid Report. If you have any additional questions, you can feel free to contact the Federal Student Aid Information Center who can be reached at 1-800-433-3243 (1-800-4-FED-AID). They will be able to assist you with any changes or information that you need by providing your DRN number.

Student Aid Report – Selected For Verification

In the event that your Student Aid Report is selected for a verification process, which you will know as your SAR will say on the front page “You will be asked by your school to provide a copy of certain financial documents”. Instructions will be given if your Student Aid Report does require verification.

If you haven’t filled out a FAFSA yet, you can fill one out at the Department of Education website. After you are completed with the application, it is a long one just to give you a heads up, you will be mailed your Student Aid Report, within about 4 business days if you did it electronically or about a month if you decided to mail it in.