Financial Aid Forms and Facts | Choosing the Right College | Applying to College | Other Resources
	Financial aid is money intended to offset any gap between what you and your family can afford to pay for college and the expenses you cannot meet. There are four types of financial aid: grants, scholarships, student employment, and loans. Most students rely on a mix of all the below to afford the expense of college. Grants are awarded on financial need, ability, or other individual criteria. Most organizations award grants on an annual basis and do not expect repayment. One example is the Pell Grant that is awarded to students based on financial need. Scholarships are gifts of money given for a number of reasons, including, academics, financial need, and affiliation to various organizations. Scholarships can be a one-time award or renewable for a set number of years. Again, most organizations award scholarships on an annual basis and they do not need to be repaid. Work-Study programs are a way to earn money by working for the school you are attending. Your college may post a variety of jobs that are designated as work-study. You can apply for these jobs and if accepted you will earn an hourly rate. This wage is then used towards your expenses. A loan is a sum of money that is advanced to you for a specific time period and is repayable with interest. There are many types of loans. Some loans are federally regulated others are offered by private companies. All loans must be repaid and are either subsidized or unsubsidized. On a subsidized loan, the government will pay interest on the amount you borrowed while you are in school. An unsubsidized loan means you pay all of the interest that accumulates during the life of your loan. To take advantage of the billions of dollars available in financial aid each year, you must apply!! Unfortunately, many think that there are too many forms to fill out. However there are three main forms that need to be completed: Free Application for Federal Student Aid (FAFSA) you apply for most financial aid with this form. You must mail the FAFSA by March 1 of the year you will attend college to be eligible for federal and state aid. Institutional Aid Forms Most colleges require their own forms in addition to the FAFSA. Remember to ask for these forms when you call or e-mail colleges to request their admissions applications. Some colleges may have earlier deadlines than the FASFA, so make sure you complete and mail these forms on time. Additional Application Forms Some colleges require forms such as the College Scholarship Service (CSS) Profile in addition to the FAFSA and their own forms. Be sure to ask colleges if the CSS Profile or another form is required. To get the CSS Profile form, contact college financial aid offices or your guidance counselor. After you have completed the financial aid forms, make photocopies for your files. And it may be beneficial to ask for a certificate of mailing from the post office to verify that your forms were mailed before the deadline.
	Financial Aid Timeline Search for scholarships in the fall. Use the resources available at the library or on the World Wide Web. Complete college admission and financial aid applications by the deadlines set by each school Apply for federal and state financial aid between Jan. 1 and March 1 Review the Student Aid Report (SAR) that will be mailed to you after your FAFSA is processed. Add or correct information and return it. Keep a copy of your SAR for your own records Free Scholarship Search Engines and More Information on Financial Aid fastWeb SRN Express Mach25 ExPAN FINAID Sallie Mae College Board ACT
	No matter what education or training option you choose after high school, you will spend a lot of time - one to five years - learning and possibly living there. That's why it is important to take some time to choose the college that best matches your needs and goals. Consider the following characteristics when choosing your college: The kind of college (technical, liberal arts, research, etc.) Size and location of the campus Credentials and accessibility of the faculty and staff Scope of learning resources (computer accessibility, libraries, etc.) Job placement and career services (during the senior year and then once out of college) Size and diversity of the student body Extracurricular activities Opportunities to explore career interest Accreditation and reputation of the school and your potential major Housing and food plan options The following sites can help in your selection process: ICPAC You may want to consider applying to several of the colleges that meet your needs; this will allow you plenty of options. Be sure to visit those campuses before deciding which college you will attend. Applying to colleges requires several steps. You must meet the deadlines that each college has and fill-out the information completely. Admissions deadlines can begin as early as November, so start the your application process as early as possible to ensure that you have ample time to submit needed information by the colleges deadlines. Here is a checklist of things to do to start your application process rolling: Call colleges for admissions, financial aid and housing applications. Make sure you fill out the forms completely and mail them by the required deadlines. Remember to make copies of all materials sent to each college. Register to take the required admissions test (SAT or ACT) Make arrangements with your guidance counselor to mail copies of your high school transcript to the colleges you wish to apply. Your transcript shows the classes you took in high school and the grades you earned. Let your counselor know if you need a current or final transcript and the application deadline. Ask teachers, coaches, guidance counselors, employers or other people to write letters of recommendation for you. Remember these people are busy, you need to give them plenty of time to write a personalized letter and mail it. Call colleges a week or two after you mail your application to make sure they received all the information they need. Then watch your mail for acceptance letters. Once you're accepted, you may need to fill out other forms or write a letter to let the college know you have accepted and wish to enroll. Next Stop College allows you to apply online to more than 280 colleges and universities with a free, Web-based admission service provided by the College Board. Other great resources The College Board studies show lower increases in college tuition and fees and Student Financial Aid at record high Peterson's (Most text information provided by the Indiana Career and Postsecondary Advancement Center) What's UP | Heading to College | Learn How to... | FAQ | Links | Mind Candy | Types of Accounts | Home | E-mail us