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Financial Aid & Scholarship Overview
There are basically four kinds of Financial Aid for College:
1. Need basis
2. Do not need to be repaid
1. Need or merit based
2. Do not have to be repaid
1. Do need to be repaid
1. Federally subsidized work opportunities on campus
2. Need based
State Grants or Loans
In order to get any of the college aid, federal or state grants or loans you must usually apply with the Free Application for Federal Student Aid (FAFSA). Through the FAFSA, the “family’s need” is calculated and then becomes the determining factor used to award much of the more desirable financial aid available to college students today.
1.) Fill out the form used for determining need, the FAFSA, which is available online at fafsa.ed.gov or at the school guidance office sometime in December.
2.) This form must be filled out completely and sent in ASAP after January 1. You will be using items from your Income Tax return on this form.
3.) Most colleges also use their own financial aid form, so be sure to find out what is necessary at the school(s) you are considering.
4.) Contact the college financial aid office for specific institutional supplements to your aid and to determine what other options you have. Many colleges, for example, have a work-study program to help defray college expenses.
1.) Resources on the internet are the easiest to search for scholarships
2.) Some common Scholarship resources online are:
3.) Public libraries have a variety of scholarship materials.
4.) Your HCA Guidance Office
5.) The colleges themselves are the largest single source of scholarship money. Investigate all programs from all colleges to which you are applying.
6.) Beware of scholarship searches/services that cost money. All of this information is available to you for free on the web.