Paying for College
FAFSA: Free Application for Federal Student Aid
The 2024-25 FAFSA received a makeover with the hopes of making it even easier for students and families to submit. Not only are there fewer questions on the FAFSA® to answer, and fewer requirements overall, but your tax information will be retrieved through a direct data exchange with the IRS. The U.S. Department of Education (ED) also estimates we should see in increase to the number of students eligible to receive the Federal Pell Grant.
High school seniors may first complete the FAFSA the year prior to attending college. Colleges and universities use this form to determine your eligibility for federal, state, and college-sponsored financial aid, including grants, educational loans, and work-study programs. If you're hoping for any government or school financial aid for college, you should file a FAFSA. Most colleges have a preferred filing date. Completing the FAFSA by the preferred filing date increases your chances of receiving financial aid. NOTE: Please contact your college(s) of interest to learn if the FAFSA's delayed availability will impact preferred filing dates.
The FAFSA is used by the colleges to find your Estimated Family Contribution (EFC) or Student Aid Index (SAI) which will help calculate your financial aid options. (Note: The name changed from EFC to SAI in December 2023.)
Additional Information: FAFSA
Not ready to submit the FAFSA? Try the Federal Student Aid Estimator to get an estimate of your federal financial aid eligibility.
Scholarships (Free $)
Scholarships are gifts. They don't need to be repaid. There are thousands of them, offered by schools, employers, individuals, private companies, nonprofits, communities, religious groups, and professional and social organizations.
To Apply: Applications vary widely. The best source is usually the college the student plans to attend. Other sources include the student or parent's place of employment, local foundations, regional/national businesses, etc.
A word of caution: Never pay $$ for scholarship information. Legitimate scholarship organizations do not applicants to apply. See Avoiding Scholarship Scams.
Additional Information:
(see Specific Scholarships tab for opportunities sent to BVA)
WI Private College Scholarships
WI Technical College Scholarships
Fostered & Adopted Youth Scholarships
WI DVR Education Resource Guide
Grants (Free $)
The Federal and state governments provide grants for students attending college or career school. Most grants are awarded to students with the highest financial need. Unlike loans, grants do not have to be repaid (unless a student defaults on the program's requirements).
To Apply: Submit the FAFSA
Additional Information:
WI Grants via Higher Educational Aids Board
WI Dept. of Children & Family Services Education Grants
McKinney-Vento Resources for Students At-Risk of Homelessness
Work Study
Federal Work-Study provides part-time jobs for students with financial need, allowing them to earn money to help pay education expenses. If you work on campus, you’ll usually work for your school. If you work off campus, your employer will usually be a private nonprofit organization or a public agency, and the work performed must be in the public interest.
To Apply: Submit the FAFSA
Additional Information:
Selective Service System
Almost all male US citizens and male immigrants, who are 18 through 25, are required to register with Selective Service.
Selective Service registration is required by law as the first part of a fair and equitable system that, if authorized by the President and Congress, would rapidly provide personnel to the Department of Defense while at the same time providing for an Alternative Service Program for conscientious objectors. By registering, a young man remains eligible for jobs, Federal student aid, State-based student aid in 31 states, Federally-funded job training, and U.S. citizenship for immigrant men.
Additional Information: SSS.Gov
Federal Student Loans
If you apply for financial aid, your school will likely include student loans as part of your financial aid package. It’s important to understand what types of loans you are offered. Generally, there are two types of student loans—federal and private.
If you need to borrow money to pay for college or career school, start with federal loans. Federal student loans are made by the government, with terms and conditions that are set by law, and include many benefits (such as fixed interest rates and income-driven repayment plans) not typically offered with private loans.
In contrast, private loans are made by private organizations such banks, credit unions, and state-based or state-affiliated organizations, and have terms and conditions that are set by the lender. Private student loans are generally more expensive than federal student loans.
To Apply: Submit the FAFSA
Additional Information:
Great Lakes Educational Loan Services
WI Loans via Higher Educational Aids Board
Other Resources
Free eBook: Paying for College
Tuition Agreements with Other States
Midwest Student Exchange Program: Through the MSEP, participating public institutions agree to charge students no more than 150% of the in-state resident tuition rate for specific programs; participating private institutions offer a 10% reduction on their tuition rates.
Savings
It is less expensive to save for college than to borrow. In both cases, you're setting aside a portion of your income to pay for college. But when you save, the money earns interest, while when you borrow, you're paying the interest. It's never too late to start saving for college, although the soon you start, the more time your money will have to grow.
Additional Information:
College Savings Ideas for All Students
EdVest (Wisconsin's College Savings Plan)
Saving Guide for High School Seniors Going Into College
Military
Enlisting in the military requires a great deal of sacrifice; and as a benefit, the government offers military aid to those who wish to attend school before, during and after their service. Military student aid, such as the Montgomery GI Bill, is one of the many reasons people enlist in the armed forces.
Additional Information: