College Cents

Making Sense of Financial Aid

I love it when students tell me they don't want financial aid.

Really, you don't want money to go to college?

First, the term "Financial Aid" is an umbrella term - IT DOES NOT MEAN JUST LOANS.

Financial Aid is the term used to encompass the 3 main types of funding for post-secondary education:

1. Scholarships

2. Grants

3. Loans

Moral of the story? You want Financial Aid. Period.

Step 2. The FAFSA

QUESTION: So, how do you get financial aid?

ANSWER: You complete the FAFSA (Free Application for Federal Student Aid)

P.S. If you ever have to pay for the FAFSA, you are getting scammed. Remember, the first F in FAFSA stands for FREE!

P.S.S - Nearly every scholarship will require you to have a FAFSA on file

P.S.S.S. - If you qualify for Free/Reduced Lunch, you will likely qualify for the Pell Grant, which can pay up to $5,700

The FAFSA is an application. Upon completion of the FAFSA you may or may not qualify for grants, scholarships, or loans.

In some cases students qualify for all 3. In some cases students will not qualify for any of the 3.

Whatever you qualify for, it is YOUR CHOICE to accept that offer.

If you qualify for a loan, YOU DO NOT HAVE TO TAKE THE LOAN!

The FAFSA application opens every January.

Every student should complete the FAFSA in January of their Senior year of high school, and every January they are in college.

The FAFSA should be completed by March 1st.

You will need the following information to complete the FAFSA:

1. You and your parent(s) social security numbers

2. You and your parents birth dates

3. If your parents are married or divorced, you need to know the date they were married/divorced

4. The first 2 pages of your OR your parents tax return paperwork

For more information:

PHS Very Merry
Financial Aid Night

PHS is hosting our annual Financial Aid Night on Tuesday, December 16, 2014 @ 7:00pm in the PHS Auditorium.

Comment Stream

3 years ago

Remember, the PHS Very Merry Financial Aid Night is Tuesday, December 16th @7:00pm in the PHS Auditorium!