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How Financial Aid Works
How Financial Aid Works
For most students planning to attend college, financial aid is essential. Use this website to as a resource to help you understand the process and learn more about the different options available to you.
STEP 1: Start Planning Early
STEP 1: Start Planning Early
Plan how to pay for college before you start. Ask school counselors and the College and Career Specialist and the financial aid office of the schools you are interested in about state, college, and grants and scholarships you can apply for. Be sure to meet application deadlines. Start saving before early. Consider prepaid tuition and education savings (529) plans.
STEP 2: Complete the FAFSA (in the fall of Senior year)
STEP 2: Complete the FAFSA (in the fall of Senior year)
Apply for federal grants, work-study, and loans for your degree or certificate program with the Free Application for Federal Student Aid (FAFSA®) form for each year you’re in school. Your school uses your FAFSA data to determine your federal aid eligibility. Many states and colleges use FAFSA data to award their own aid.
Reviewing Your FAFSA Submission Summary
STEP 3: Review your aid offer
STEP 3: Review your aid offer
Your aid offer explains the types and amounts of aid a college is offering you, and your expected costs. If you’ve been accepted to multiple schools, 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.
STEP 4: Get your aid
STEP 4: Get your aid
Time to go to school! Your financial aid office will apply your aid to the amount you owe your school and send you the remaining balance to spend on other school costs. One of the requirements to maintain financial aid eligibility is that you must make satisfactory academic progress. And don’t forget to complete a FAFSA® form each year!
STEP 5: Graduate and begin repayment
STEP 5: Graduate and begin repayment
As you prepare to graduate, get ready to repay your student loans. Good news! Federal student loan borrowers have a six-month grace period before you begin making payments. Use this time to get organized and choose a repayment plan. If you start falling behind on your payments, contact your loan servicer to discuss repayment options.
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