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Talk to the financial aid staff at each school you’re interested in to find out about the school’s financial aid programs and the total cost of attending that school. Staff at the financial aid office also help students apply for, receive and—in many cases—learn how to repay their student aid.
When should I first contact the financial aid office?
While researching the school before applying, be sure to find out what types of financial aid are available at that school. Your research should include a visit to the financial aid office’s Web site. Later, as you prepare to apply for aid at that school, the financial aid administrator (FAA), or the staff at the office, will be able to answer your questions about the process.
What questions can my FAA answer for me?
- What financial aid can I apply for through my school and through my state education agency?
- What are the financial aid application deadlines at my school?
- How do I fill out the Free Application for Federal Student Aid (FAFSA)?
- Do I have to include my parents’ information on the FAFSA?
- I went to a Web site that I thought was the FAFSA site, but it asked for my credit card number. Do I need to pay to fill out the FAFSA?
- What am I supposed to do with my Student Aid Report?
- What is verification, what documents must I provide and when, and why was I chosen in the first place?
- When will I find out how much aid I’ve been awarded?
- What are all these different kinds of aid my school has awarded me?
- What if I’m not awarded enough money to pay for all my school-related expenses?
If you have any other questions or concerns about the financial aid process, contact the financial aid office at your school. Your FAA is there to help you.
Your state agency can give you important information about state aid—including aid from the Leveraging Educational Assistance Partnership (LEAP) Program, funded jointly by states and the U.S. Department of Education. See the "State Higher Education Agencies" section in this guide for your state contact information.
This program provides full-time educational awards in return for community service work. You can work before, during or after your postsecondary education, and you can use the funds either to pay current educational expenses or to repay federal student loans. For more information, contact:
Corporation for National Service
1201 New York Avenue, NW
Washington, DC 20525
1-800-942-2677 (TTY Number: 1-800-833-3722)
www.americorps.org
To receive this scholarship, you must demonstrate outstanding academic achievement and show promise of continued academic excellence. For more information, call toll-free 1-800-4-FED-AID (1-800-433-3243) or visit www.ed.gov/programs/iduesbyrd/index.html.
These are excellent sources of information on state and private sources of financial aid. When using either source, search using keywords like "financial aid," "student aid," "scholarships," etc. Beware of scams and services that will search for financial aid money for you for a fee. You should not have to pay for this information.
Many companies, businesses and labor organizations have programs to help employees or members and their families pay the cost of postsecondary education. Ask if they have a scholarship program and about the application process.
Foundations, religious organizations, fraternities or sororities and town or city clubs usually offer financial aid. Include in your search community organizations and civic groups such as the American Legion, YMCA, 4-H Club, Elks, Kiwanis, Jaycees and the Girl or Boy Scouts. Organizations connected with your field of interest can also be helpful. For example, the American Medical Association and the American Bar Association are good sources for students seeking to specialize in medicine and law.
The Armed Forces offer financial aid for service members and their families. For more information on recruitment incentives, contact your local military recruiter or visit the U.S. Department of Defense at www.todaysmilitary.com, click on "Benefits" and then go to "Tuition Support."
If you (or your spouse) are a veteran or you’re the dependent of a veteran, educational benefits may be available. Under the Post-9/11 Veterans Education Assistance Act of 2008, many post-9/11 veterans and service members will be eligible for a new comprehensive education benefits package that goes beyond helping to pay for tuition. Many veterans who served after Sept. 11, 2001, will get full tuition and fees, a monthly housing stipend, and a $1,000 a year stipend for books and supplies. The new bill also gives Reserve and Guard members who have been activated for more than 90 days since 9/11 access to the same GI Bill benefits. Information is available at www.gibill.va.gov or call 1-888-GI-BILL-1 (1-888-442-4551).
The IRS offers financial aid to certain taxpayers to help pay higher education expenses. The IRS offers two federal income tax credits (tax credits offer dollar-for-dollar reductions in your final tax liability) for higher education expenses.
- The Hope Tax Credit (American Opportunity Tax Credit), worth up to $2,500 per student is available for the first four years of postsecondary education.
- The Lifetime Learning Tax Credit, worth up to $2,000 for virtually any postsecondary education and training. This applies to undergraduate, graduate and professional degree schools and even for less than half-time study.
For more information on tax credits, and other tax benefits for postsecondary students, go to www.irs.gov/pub/irs-pdf/p970.pdf. IRS Publication 970, Tax Benefits for Higher Education, which explains these credits and other tax benefits, is available online, or call 1-800-829-1040. TTY callers should call 1-800-829-4059
This Web site motivates students with inspirational stories and information about planning, preparing and paying for college. With students’ input and participation, college.gov was created for high school students and their families as a single online resource with the help and tools students need to get started. College.gov shows that postsecondary education is an achievable goal for anyone, regardless of income, ethnicity, age or gender.
This site provides access to government resources to help you plan and pay for your education. Besides finding financial aid information, you can use this Web site to file your taxes, search for a job and take advantage of other government services.
Remember, you can get FREE help in finding financial aid from the sources we’ve mentioned in this section. You can also check with the colleges or career schools you’ll be applying to. You don’t have to pay for someone to help you.
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