The financial aid process is daunting, especially when going through the process without help from a reliable source. Fortunately, we are here to help you navigate obscure financial aid jargon with ease.
The FAFSA is an important first step, but it won’t be the end of your financial aid journey. Once you’ve completed FAFSA, look for ways to cut your college costs. Applying for scholarships and grants, investigating kinds of federal aid, and keeping your eyes open for financial aid opportunities will help you save money on your college tuition. Below, you’ll find more information and tips on navigating the financial aid process.
From 529 Plans - offering tax savings over taxable accounts - to Coverdell Accounts - optimal for families looking to invest $2000 or less per year - every parent should be able to find a savings plan that meets their needs. Have a reference point when looking for savings plans, estimate how much college will cost using a college financial aid calculator, and always start with a conservative number because some savings plans come with stipulations.
Federal aid comes in the form of federal grant programs, federal student loans and federal work-study programs. Federal Aid is subject to change based on government funding policies. Eligibility guidelines for FAFSA are available online for a quick application and fast processing, starting October 1 of every year. The FAFSA will determine how much funding you can receive, and what federal funding programs you qualify for. Students with great financial need may qualify for a Pell Grant. Most students will be able to take out a Direct Loan, which, while not as desirable as a grant, do have lower interest rates than any private loan.
Research will help you understand financial aid information, and dispel popular misconceptions about the process. Many students believe they are either ineligible for scholarships, or that applying for scholarships is a waste of time. Truthfully, the financial aid process is the most important step you will take in the college application process. More than $130 billion is awarded each year to college-bound students. And while it helps to have an impressive academic record, much of the funding is need-based. Once you've filled out your FAFSA, conduct a free scholarship search to find awards, and boost your financial aid package with money from scholarships and grants.
The optimal way to navigate the financial aid process is conducting thorough research. Luckily, we’ve done it for you. We update our site with the latest news on financial aid changes that affect how much you will receive from the government. Check out our news section for updated financial aid news to determine what higher education institutions are doing to affect students’ financial aid packages. Always keep track of how government policies affect your ability to take out loans, get awarded grants, and pay for college.
While college is the most rewarding years in a student’s life, paying for college is not. No one wants high monthly payments or to be forced to default on payments, ultimately damaging your credit score. If you are faced with a higher tuition bill than anticipated, consider your options to cut your college costs and take advantage of the millions of dollars being awarded to students annually.
Most major tech companies offer scholarships for prospective or current college students. While some of those are geared toward all students, other scholarships are designed to fix the racial disparity within the tech industry. According to research from 2021, fewer than 10% of STEM employees in the workforce are African-American. The Blacks at Microsoft Scholarship aims to close the gap and encourage more Black students to major in STEM-related fields. [...]
If you’re an artist, you may feel like scholarship opportunities are limited compared to those available to the sports phenoms and math whizzes of the world. It certainly does seem like there are fewer scholarships available for those who can draw, paint and express their emotions visually.
Fortunately, Google rewards students who are better with a sketchbook than with a Football or Lacrosse stick. Read on to learn how the Doodle for Google Competition scholarship works, how to enter and how to increase your odds of winning. [...]
It is Black History Month and scholarship season is in high gear. There are so many great scholarship opportunities in February for Black and African American students, we wanted to take the opportunity to highlight several that we feel are exceptional. Ranging in value from $6,000 to up to $60,000, the following opportunities will only be available for between one and three more weeks and then be gone for another year, so don’t miss your chance at these amazing awards. Be sure to keep track of your scholarships as you go; which you have applied for and when their deadlines are and make sure to reach back and let us know if you win one or more of them so we can feature you on Scholarships.com! [...]
