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.
Always start out with the Free Application for Student Aid, known as FAFSA. Once your application is processed, you will know what federal assistance programs, grants, and loans you qualify for, and how much will have to be through private lending agencies. This process is the same for graduate students, however graduate students may not be eligible for undergraduate programs, including Federal Pell Grants.
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.
The best way to supplement your financial aid package is to apply for scholarships. College scholarships minimize student loan debt. You do not need to be a star athlete or valedictorian to win scholarships. Many scholarships are based on financial need, community service and your intended field of study. Highlight your unique attributes to search for more specific college scholarships. Browse through our site or conduct a free scholarship search to see what awards you are eligible for, and start earning money for higher education.
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.
Latest College & Financial Aid News
December 8, 2021
So, you’ve found an awesome college scholarship and you can’t wait to apply! [...]
December 3, 2021
We want to wish all of our Jewish students a Happy Hanukkah! May you enjoy lots of family time and laughter this holiday season. During your final nights of Hanukkah, we hope you get your fill of delicious latkes, dreidel games, gift opening and great memories. [...]
December 2, 2021
Adam Sandler undoubtedly paved the way in bringing the celebration of Hanukkah to the forefront of pop culture with his wildly famous “Hanukkah” song debut in 1994 on Saturday Night Live (did you know there is now a “Hanukkah” Part 4?). In the song, Sandler draws attention to famous Jews in mainstream culture. You may be wondering which celebrities are observing Hanukkah this year. Before we dive into Hollywood, let’s answer the question of why these “eight CRAZY nights” are celebrated by millions of Jewish people across the globe. [...]