How Financial Aid Works

For most students planning to attend college or career school, financial aid is essential. We’ll walk you through how financial aid works, resources to pay for college, and loan repayment options.

Start Planning Early

Plan how to pay for college before you start. Ask school counselors and the college financial aid office about state, college, and nonprofit grants and scholarships you can apply for. Be sure to meet application deadlines. Start saving before you get to college. Consider prepaid tuition and education savings (529) plans.

Fill Out the FAFSA^® Form

Before each year of college, apply for federal grants, work-study, and loans with the Free Application for Federal Student Aid (FAFSA^®) form. Your college uses your FAFSA data to determine your federal aid eligibility. Many states and colleges use FAFSA data to award their own aid. After submission, you’ll receive your Student Aid Report.

Review Your Aid Offer

Your aid offer explains the types and amounts of aid a college is offering you, and your expected costs for the year. If you’ve been accepted to multiple colleges, compare the costs and aid offers. Accept the aid from the school that’s best for you and inform them of other sources of aid (such as scholarships) you expect to receive.

Visit the FAFSA webpage for deadline information HERE