Affording College
Affording college has perhaps never been as big of a question for families as it is right now. Below are a list of resources and guides for families -- for those who are seeking need-based financial aid and those who are not -- to make college less expensive. To begin, we recommend exploring the U.S. Department of Education's College Scorecard. You can compare colleges by their fields of study, costs, admissions, and more.
Need-based financial aid
Many colleges offer financial aid on the basis of financial need rather than simply on the basis of merit. The most important items to know about for families applying for need-based aid are the Free Application for Federal Student Aid (FAFSA) and the College Scholarship Services (CSS) Profile. Below are resources for understanding need-based financial aid and how to apply for it.
FEDERAL STUDENT AID
The FAFSA determines a student's eligibility for federal student aid and is the document colleges use most frequently to determine their contribution to a student's financial aid. We recommend that all families, regardless of financial status, fill out the FAFSA. Many colleges use information provided on the FAFSA to determine eligibility for school-specific merit scholarships.
INSTITUTIONAL FINANCIAL AID
The CSS Profile is used by colleges to determine the level of institutional aid -- aid from the college itself -- a student may receive. It is more thorough and specific in the kinds of questions it asks than the FAFSA, so make sure to set aside several hours to complete it!
NET PRICE CALCULATOR
Students often overestimate the price of college. The Net Price Calculator, managed by the U.S. Department of Education, is an invaluable tool for any family looking to estimate college costs. It allows prospective students to enter their financial information and find out what students in similar circumstances paid for their education at a particular college or university.
FEE WAIVERS
For students for whom the costs of submitting college applications or registering for standardized tests would be financially burdensome, some colleges, as well as application and testing agencies, offer fee waivers. The links below explain the eligibility requirements and application process for fee waivers for some common programs.
MERIT-BASED FINANCIAL AID
There are many, many merit-based scholarships out there, and their eligibility requirements differ widely. Some are institutional, or come from the college, and others are considered outside aid, and may be awarded by private or public groups. Because it is difficult to list every college scholarship that exists in one place, here are a number of search tools to help you find scholarships that meet your specific needs.
COLLEGE-BASED MERIT SCHOLARSHIPS
Many colleges offer scholarships to their specific institutions. Some pay the full cost of attendance, while others pay less, but still substantial, amounts. Our advice? When seriously considering a particular institution, visit the school's Financial Aid and Admission pages for additional information about available scholarships. Click below for a non-comprehensive list of school-based merit scholarships.
SCHOLARSHIP SEARCH PLATFORMS
The sheer number of scholarships out there can make knowing where to begin difficult. The following links allow you to search for scholarships applicable to your specific situation, whether by creating an individual profile, or simply entering a search. The bolded resources below are great places to start.
VIDEO OVERVIEW
In our seminar from the summer of 2020, Amy Staffier, Director of Financial Aid at Simmons, gives a thorough overview of the financial aid process.
20200807 College Counseling - Financial Aid.mp4HIGHLIGHTED RESOURCES
Scholarships for Black and African American Students: This helpful resource from BestColleges curates scholarships for Black and African American students. Programs and application requirements/deadlines vary.
Ann Arbor Area Community Foundation Scholarships: AAACF offers a wide range of scholarship opportunities to support the continuing education of local students. In 2022, AAACF awarded more than $550,000 across 60 scholarship funds. Application deadline is February 9, 2023 at 3 PM.
National Panhellenic Conference (NPC) Centennial Scholarships Program: Beginning with women graduating high school in 2023, NPC plans to award 10 college scholarships of $2,000 each annually. The scholarships may be used to offset college tuition, dues and fees. Application deadline is March 15, 2023.
Jackie Robinson Foundation Scholars: JRF Scholars receive grants of up to $30,000 over four years to supplement the financial aid they receive from their colleges or universities. In addition, Scholars receive extensive support services, including career guidance and internship placement, and attend JRF’s annual four-day "Mentoring and Leadership Conference" in New York City and other regional events throughout the year. Application deadline is January 11, 2023.