Need-Based Aid (aka - grants) is the best kind of money for college - because you don’t have to pay them back! Find out more about federal grants that you may qualify for. The Cal Grant and Middle Class Scholarships are available to students based on family income and assets AND student academic eligibility. Students must complete the FAFSA or CA Dream Act Application and NJUHSD will submit your GPA verification automatically. The Cal Grant and Middle Class Scholarship are available to undocumented students as well. Foster child or ever been in foster care? You may be eligible for the CHAFEE grant. The University of California Blue and Gold Plan ensures free tuition for families who earn less than $80,000/year. 

Merit-Based Aid (aka - scholarships) - Merit aid is based on your accomplishments and achievements (i.e. grades, test scores, special talent). Like grants, merit aid does not need to be paid back. You should always check the financial aid/scholarship website page of the colleges you’re applying to.

Loans - Subsidized? Unsubsidized? What does it all mean? Find out what loan options are available to students and use this handy calculator to determine a loan amount that you could comfortably pay back. Find the most current interest rate information before you borrow. Parents are able to take out Parent PLUS Loans to help pay for college. Note that these loans cannot be transferred to a student and parents pass a credit check.

Some colleges and universities around the country offer “no loan” packages - replacing loans with additional grants, work study, and, in many cases, smaller student loans. While most are not truly eliminating all loans, graduates finish with significantly lower debt. Colleges with a “no loan” policy are available primarily to low income students. Note that the public universities on the list require you to be a resident of that state and may apply to tuition only.

Work Study - Work Study allows students to work part-time for pay while studying. These jobs may be on or off campus. The amount of work study that you can earn is determined by your need (after completing the FAFSA) and by the amount of your school’s funding. 

1. The College Board helps you estimate your Expected Family Contribution (EFC) - above. 

2. Next, take a look at the total cost of attendance (COA). In other words, how much does it cost to be you for one year at a particular institution. COA = Tuition, housing, food, books, transportation and personal expenses.

3. When you subtract your EFC from the COA, you'll see your "demonstrated need" - in other words, how much need your family has. The hope is that the full need is met with financial aid (money from the federal and state governments as well as money from the college itself).

COA - EFC = Need

You might check out these resources to get an idea of how well colleges are able to meet your need AND which colleges offer generous merit based aid (if your need is low). 

“The Ultimate List of the Nation’s Most Generous Colleges” by Lynn O’Shaughnessy as well as COLLEGES THAT MEET 100% OF FINANCIAL NEED. 

One you have a better understanding of how much your family will be expected to contribute to your education, find out how generous your college choices are by going to College Data (below). While all colleges would love to be able to meet your full need, not all have the ability to do so.

All students will complete either the FAFSA (be sure to use your Going Merry account to access the Going Merry FAFSA tool!) or the Dream Act Application to be considered for financial aid from the college/university and state and federal government. These applications open on October 1 of the senior year. You must complete a FAFSA/Dream Act EVERY YEAR in October to be considered for financial aid. Check out The FAFSA Process to best prepare as well as ways to maximize your aid. 

Before starting your FAFSA, read through The FAFSA Process to best prepare and create an FSA ID. Wondering if you’re considered dependent on your parents or an independent student? Take a look at this chart to find out. Parents divorced? Remarried? Shared custody? Not sure which parent information you need? Find out how to report parent information.

Undocumented? Find out if you qualify for FEDERAL financial aid. Students who are undocumented are eligible for California financial aid (i.e. Cal Grant and Middle Class Scholarship). Learn more about the California Dreamer Service Incentive Grant.

After completing the FAFSA using the Going Merry FAFSA Tool, be sure to log into your FAFSA and link tax data using the IRS Data Retrieval Tool. Just follow these easy steps! FAFSA IRS DRT

Dollars for College Toolkit - Check out their financial aid timeline by grade level.

Tuition Fit allows students to compare prices from real financial aid offers and take control of the college search. 

The Chronicle of Higher Education offers a helpful tool to sort through 3,000 schools by 2018-2019 their sticker prices - enabling you to find bargains. This is especially useful if you’re not going to qualify for much financial aid and will need to cover costs yourself.

The Choice blog by the New York Times - All about getting into college and paying for it. (This blog is discontinued remains available for searching and viewing.)

Community College applicants should check out I Can Afford College. You might also consider taking Sierra College courses while still in high school. Academic Enrichment is available to high school students who would like to earn college credit. This could save money as well! If you are eligible, you may qualify for free tuition.