Yes, money matters. But don’t let it narrow your college search. The college opportunity for you is out there and financial aid and scholarship incentives await.
A record $122 billion in financial aid is available to students and their families (College Board, 2004). 76% of full-time students at private colleges and universities receive financial aid (National Center for Education Statistics, 2000). Set your sights on the college of your dream. And even if the aid offered doesn’t meet your entire need and you have to stretch your wallet, the long term rewards of a college education from a four-year institution will more than pay off.
First Steps:
Free Application for Federal Student Aid (FAFSA): All colleges and universities require the FAFSA for students who seek financial aid. The form determines eligibility for all state and federal grants. Generally, you must fill this out before a college can begin processing your request for financial aid. If you need help filling out the FAFSA, call the Federal Student Aid Information Center at 1.800.433.3243.
CSS Profile: Many colleges also require students to complete a CSS Profile, a secondary financial aid form to help them determine if the student is eligible for their own money. These should be filed early, along with the FAFSA, to receive early information regarding your status for financial aid.
More Opportunities:
Merit Scholarships: Beyond financial aid, colleges and universities offer a variety of scholarships given to students on the basis of demonstrated ability—academic, performance, service, athletics, etc. It is not based on need, and does not need to be repaid. Most scholarships come from colleges themselves and vary widely from institution to institution. If you parents did not attend college, seek out a first-generation college scholarship. There are also some scholarships available from businesses, alumni organizations, and programs like the National Merit Scholarship. Discover these scholarship opportunities through the college profile pages on this website.
Work-Study: Participating in a work-study program allows students to gain on-campus work experience, while paying off their college costs. Work-study is often offered as part of a financial aid package, and usually requires 15-20 hours of work a week on campus.
Private Scholarships and Loans: Many private companies and foundations provide historically underserved students with scholarship grants and affordable loan programs. Consult CSO College Center'sLinks and Resources page to begin your scholarship and loan search.
