|
|
Financial Aid - Federal Government
Eligibility for federal student aid is based on financial need and
on several other factors. The financial aid administrator at the
college or career school you plan to attend will determine your
eligibility.
Student Aid Eligibility
Find out what determines eligibility for FSA programs.
The PIN
The PIN (Personal Identification Number) is an electronic access
code number that serves as your identifier.
Get a PIN
If this is your first time filling out the Free Application for
Federal Student Aid (FAFSA), and you haven't applied for a PIN
(Personal Identification Number), you should do so now. Your PIN is
what allows you to complete the FAFSA paper-free! You'll need your
PIN to make online corrections to your FAFSA, including changing
your name and address, or adding/changing the name of a school to
receive your application data. The PIN is also your identifier to
let you access personal information in various U.S. Department of
Education systems. For more information about the PIN, check out the
"Applying" section of The Student Guide.
Transfer your MyFSA profile to FAFSA on the Web
If you've already created a MyFSA account, click here to
automatically transfer much of your MyFSA profile to FAFSA on the
Web so you won't have to repeat this information when you apply. If
you haven't created a MyFSA profile yet, we encourage you to click
on the MyFSA icon in the left margin of this Web site. With MyFSA,
you can create a personalized “folder” to record your career and
college searches, track your progress in the college planning and
application process, and much more!
Student Aid Report (SAR)
Have you already filled out the FAFSA and received your Student Aid
Report (SAR)? The SAR contains the information you reported on your
FAFSA. Here's a description of the SAR and how it's used. Your SAR
must be complete and correct before you can receive federal student
aid.
Federal Student Aid Programs
If you're eligible, the Federal Student Aid office has a variety of
programs to help you pay for your college education after high
school. Click on Grants, campus-based aid, Stafford Loans, and PLUS
Loans (parent loans) for more information about these programs. For
information on Consolidation Loans, click on the "Repaying" tab and
go to "Loan Consolidation."
Borrowing Responsibly
If you decide to take out a federal student loan to help pay for
school, you're taking on certain serious obligations. Find out what
they are and how to maintain your account in good standing.
Understanding Federal Financial Aid
Our booklets Funding Your Education and The Student Guide will
answer any questions you might still have. Funding Your Education
gives an overview of federal student aid and is designed primarily
for students below 12th grade. The Student Guide is a comprehensive
source of information about the Department's federal student aid
programs and includes more detailed information on the application
process and student loans, for example. Whatever your questions,
you'll find the aid information you need in these publications.
Other Sources of Federal Student Aid
We encourage you to explore other federal Web sites to find out
about additional aid sources. For example, veterans and their
dependents, students training in various medical fields, and persons
interested in earning funds in exchange for community service may
link to other federal agencies for program descriptions and
qualifications.
State Aid
Even if you're not eligible for federal aid, you might be eligible
for financial assistance from your state. Contact your state higher
education agency for more information.
Finding Scholarships
Under the Robert C. Byrd Honors Scholarship Program, ED gives money
to state education agencies to provide scholarships to graduating
high school seniors. Each state education agency has its own
application and deadline. To find your state agency's Web site,
click here.
You can find out about nonfederal scholarships and other sources of
aid in several ways, including contacting the financial aid offices
at the schools you plan to attend and checking information in a
public library or online. But be careful. Make sure scholarship
information and offers you receive are legitimate. Don't get
scammed: You don't have to pay to find scholarships. Click here to
check out our information on nonfederal sources of aid and how to
avoid scholarship fraud.
Sample Award Package
Most schools will prepare an "award letter" that will inform you of
the types and amount of student aid you will receive at that school.
Once you've selected the types of aid you want to receive, that
selection is referred to as an "award package."
Financial Aid Wizard
Explore your financial aid needs and options with a step-by-step
process for calculating your cost of attendance and expected family
contribution, and discovering potential scholarships and loans
available to you. If you're planning on going to college in the
future, we can't predict what you might be awarded then, but you can
find out what you'd get if you applied this year. Use that as a
guide as you prepare for the time you enter college.
Tax Break
Find out how the Hope and Lifetime Learning Tax Credits can help
with education costs by reading IRS Publication 970, "Tax Benefits
for Education."
Saving Money for College
Paying for college is easier when you can invest money in a
Coverdell Education Savings Account (formerly an Education IRA) that
will accumulate interest tax free, and when you can withdraw money
from this account without penalty. Also, it's possible to put money
into a state- or institution-sponsored prepaid tuition plan and not
pay taxes on it until you withdraw the money.
Reducing College Costs
The typical cost of attendance includes not just tuition, but room
and board, fees for special programs or activities, books, personal
items, and traveling to and from college. Here are 34 tips for
reducing your college costs.
Assess Yourself
The first step to finding the right program and type of school is to
evaluate your interests, if you haven't already. This
self-assessment will help you examine your interests and goals and
offers some ideas about fields of study and careers that might be
right for you.
Things to Consider
There are hundreds of things to consider while you are making
decisions about what to do after high school. Here are a few points
to take into account before you commit to a school.
Understanding the Costs
Most people believe that school is much more expensive than it
really is. Although some are expensive, there is most likely a
school near you that is within financial reach.
Types of Schools
Once you have an idea of what your interests are, it's time to
figure out what kinds of schools offer programs that match those
interests. Whether you are considering 2-year, 4-year, vocational,
or private career schools, make sure that the school is accredited
and participates in the Federal Student Aid programs. If you are not
sure, contact the school to find out.
College Selection
Find the colleges right for you. Select criteria to match campuses
from across the U.S. to your needs or if you already know the name
of your college of choice, search by the name of the college.
Campus Tours
Explore the campuses by browsing through the detailed profiles and
key information of each college.
Participation
To see if the schools you are interested in participate in the
Federal Student Aid programs, search for schools that are Title IV
participating.
Distance Learning
Lots of schools are experimenting with distance learning--whereby
students access lectures or course materials via the Internet or
through other electronic media rather than in person. Whether a
distance learning course or degree is right for you is a matter of
personal preference. You should note that not every distance
learning course or degree is accredited and/or eligible for federal
student aid. To find out whether you can receive federal student aid
for your program, check with your school's financial aid
professional. |
|
