Funding a college education is expensive. A higher education is the gift that keeps on giving.  Statistics show that people with a degree earn on average of over $1 million dollars  more during their lifetime then their peers without degrees.   With some institutions costing upwards of $70k annually, the majority of students will require some form of financial aid.

Throughout this section, there is a lot of information that will help explain what Financial Aid is, how to apply for it and where to find additional resources.

FINANCIAL AID INFORMATION

Going to College is a costly investment.  Most students require some type of financial assistance in order to attend college, university, or trade school. 

• Grants or Scholarships: This is aid that does not have to be repaid. Awards may be based on financial need, academic ability, athletic ability, talent, leadership or service. Internet access is a great source for scholarship searches.

• Student Work Study: This aid may mean a job that the college finds for you or work that you find on your own.

• Loans: Loans must be repaid, generally after you have graduated or left school. Some have low interest rates.

 If you are considering taking student loans, make sure you understand the different loan types and the costs. 

Financial Aid and In-state institutions:https://www.usmd.edu/institutions/FinAid/

Important Financial Aid Links 

FAFSA

www.studentaid.ed.gov - Federal Student Aid website. FAFSA APPLICATION OPENS OCTOBER 1st ANNUALLY

www.fafsa.gov - Free Application for Federal Student Aid website. Students can begin filling out the FAFSA on October 1st of their senior year. You must fill out the FAFSA annually. It is recommended that you use the IRS retrieval tool. 

• Basic Eligibility Criteria

• Steps to Obtain a FAFSA ID

• Information & Documentation Needed to Fill Out the FAFSA

• Video Assistance with the FAFSA

  • Video: FAFSA Overview

  • Video:  How to Fill Out the FAFSA

  • Video: How to Create an Account Username and Password (FSA ID)

  • Video:  FAFSA® Form and FSA ID Tips for Parents

What is the CSS profile?

The CSS profile is an online application to determine eligibility for non-federal financial aid, which is administered and owned by The College Board. Most private, Liberal Arts institutions require the CSS Profile. It is also important to see if the school requires students of divorced parents to complete the additional Noncustodial PROFILE.

Unlike the FAFSA, there is a fee to apply. The first application is $25 and additional schools are $16 each. Fee waivers are granted to high-need students, generally for household incomes of $45,000 or less per year.

Both the CSS application and the FAFSA should be completed as soon as the applications open to take advantage of aid that is distributed on a first-come, first-serve basis. All schools have their own deadlines in place for the CSS, but many require students to file the profile two weeks before the college's priority admission application deadline.

Hundreds of private institutions require students to fill out the CSS profile in addition to the FAFSA.  For more information on the CSS Profile please see the link below:

https://cssprofile.collegeboard.org/pdf/css-profile-student-guide.pdf

https://cssprofile.collegeboard.org/getting-started-your-css-profile-application