Financial Aid
Apply for FAFSA
FAFSA (Free Application for Federal Student Aid) is need based aid that you can receive if you have financial need and meet other eligibility criteria. You can't receive more need-based aid than the amount of your financial need.
Everyone going to a 2 or 4 year college should apply for the FAFSA every year they're in school. FAFSA uses your parent/guardian's tax returns from two years ago. For example, for students applying for Fall 2021, your 2019 tax returns will be needed.
For a guide on how to fill out the FAFSA, click here.
Other Types of Financial Aid
Merit
Merit-based financial aid (also called merit scholarships or merit awards) is financial aid offered in recognition of student achievements (e.g. academic, athletic, artistic, etc.). Unlike need-based financial aid, merit-based financial aid does not consider the financial need of the student or family. Merit based aid is most often available at private schools
Scholarships
Scholarships are financial aid awards designed to help students pay for an undergraduate degree. Sometimes a scholarship is a one-time check. Other school scholarships are renewable and provide money for students each semester or school year. These awards differ from student loans in that they don't have to be repaid.
National Scholarships are best found on GoingMerry.com. Local scholarships are available to BHS students through their grade level Google Classroom around February of their Senior year.
EOP
EOP stands for Educational Opportunity Program. We offer services to students who are historically low-income and are first generation college students. EOP is geared towards helping students who may have strenuous circumstances that may hold them back from succeeding throughout their time in college. Check your individual college for program requirements and application.
Loans
A student loan is a type of financial assistance designed to help students pay for school-related fees, such as tuition, school supplies, books and living expenses.
Many of these loans are offered to college students at a low interest rate. Typically, students are not required to repay these loans until the end of a grace period, which begins after they have completed their education.
Not all student loans are the same. Some are private, some are federally funded, some are designed to help financially needy students, and some offer borrower protection and lower interest rates.
The federal government issues some student loans through the FAFSA. Federal student loans typically offer low, fixed interest rates. This makes them much more attractive compared to private loans offered by commercial lending institutions.
Many federal loans offer interest deferment programs, in which the government covers the loan’s interest while the student is studying. Students are not obligated to start paying on the loans until after they graduate.
Commercial lending institutions also offer loans to people entering college. Unlike federal student loans, private student loans require a full underwriting process.
Banks typically require borrowers to have a positive credit score and enough income to make loan payments. If borrowers do not meet those requirements, they may need a co-signer to be eligible for private student loans.
Borrowers should also note that private loans come with higher interest rates compared to federal loans, and may come due in a shorter period of time.