The Financial Aid Process
Step 1: Complete the Free Application for Federal Student Aid (FAFSA®) ...
Step 2: Review your Student Aid Report (SAR)
Step 3: Complete the CSS Profile (NOT required by all colleges)
Step 4: Compare Your Financial Aid Packages. ...
Step 5: Maximize Grants and Scholarships Before Applying for Student Loans. ...
Step 6: Compare Federal and Private Student Loans.
Step 1: Complete the FAFSA (Opens October 1st)
The FAFSA is a form used by all colleges and universities that allows US citizens and
eligible non-citizens to apply for federal loans, grants, and work-study programs. The
FAFSA calculates your eligibility based on financial need with respect to your estimated
costs of attendance and family contribution.
FAFSA Day/FAFSA Help - FAFSA Day is a non-profit, volunteer driven program
providing free assistance to students and families to complete the FAFSA.
Resources in completing the FAFSA:
7 Things you will need before filling out your FAFSA
How to create a Username or Password (FSA ID)
Types of Financial Aid - YouTube Video
Who is my “Parent” for Filling out the FAFSA?
Estimate Your Federal Student Aid
MEFA Webinar - What is the FAFSA?
Step 2: Review your Student Aid Report (SAR)
After you submit your FAFSA form, you will get a Student Aid Report (SAR) that summarizes the information you provided on your FAFSA form. It includes your expected family contribution (EFC), your estimated eligibility for federal student loans and Federal Pell Grants, and whether you have been selected for verification.
How do I view my SAR?
View your SAR by logging in to your FAFSA form and selecting “View your Student Aid Report” from the “My FAFSA” page. If you provided an email address on your FAFSA form, you’ll receive an email with a link to an online copy of your SAR from noreply@fafsa.gov.
Step 3: Complete the CSS Profile(NOT required for all colleges)
The CSS Profile is an online application used by colleges and scholarship programs to award institutional (their own) aid.
How is the CSS Profile different than the FAFSA?
The major difference between the CSS Profile and the FAFSA is that the FAFSA provides federal grants, loans, and other types of government types of assistance, and the CSS Profile is an application that universities use to gauge how much non-federal financial aid you need.
Resources in completing the CSS Profile:
2022 - 2023 CSS Profile Student Guide - College Board
Step 4: Compare your Financial Aid Packages (Spring)
A school aid offer (sometimes called an Award Letter) tells you what financial aid you can receive at a particular college or career school. If you have applied to several schools, be sure to compare aid offers to see which school will be most affordable.
Resources to Compare College Aid Offers:
How to read your Financial Aid Award Letter?
Comparing Your Award Letters - College Board
U.S. Dept of Education - Comparing Aid Letters
Step 5: Maximize Grants and Scholarships Before Applying for Student Loans
First step would be to look on the PHS School Counseling Website under the scholarships tab to access local, state and national scholarships that are sent directly to PHS from these organizations.
Second Step is to research various reliable websites that offer scholarships. Here are some examples:
Third Step would be to research any scholarships that your chosen college may offer through their website.
Fourth Step would be to research any scholarships offered through a parent/guardian's employer, your employer and/or civic or community organizations that any family may be a member.
Tips on what scholarships may ask you to include with the application:
1. A copy of the SAR (Student Aid Report) which is found on your FAFSA site.
2. A copy of the Financial Aid Award letter of the college you are attending.
3. Student resume
4. Essay
5. High School Transcript
6. Letter of Recommendation
Step 6: Compare Federal and Private Loans
Federal Student Loans - The Basics
Federal Student Loans - Parent Plus Loans
Choose the Federal Student Loan Repayment plan that's best for you
Financial Aid Information for Undocumented Students
MEFA - Undocumented Student Information
MEFA Webinar - Financial Aid for Undocumented Students
Minority Student Scholarships
The Jackie Robinson Foundation