Financial aid is a crucial support system for families grappling with college costs. It encompasses a broad range of financial resources designed to assist students in paying for their education. Here are some key points about college financial aid:

Types of Financial Aid:

Grants: These are funds that don’t need to be repaid. They are typically awarded based on financial need or merit.

Scholarships: Similar to grants, scholarships are also free money that doesn’t require repayment. They can be based on academic achievement, talent, or other criteria.

Federal and Private Loans: Loans provide money that must be repaid, often with interest. Federal loans usually have more favorable terms than private loans.

Work-Study: This program allows students to work part-time jobs on campus to earn money for educational expenses.

How Financial Aid Works:

• Aid comes from various sources, including federal and state agencies, colleges, foundations, and corporations.

• The amount of aid depends on guidelines set by these sources.

• Students can choose to accept or reject the aid offered.

• The type of aid determines whether it needs to be repaid.

Applying for Financial Aid:

1. • Start by filing the Free Application for Federal Student Aid (FAFSA). This form helps determine eligibility for federal and state aid.

   • Some schools also use the CSS Profile, a more detailed form, to award their own funds. (Wake Forest, Elon, UNC Chapel Hill, Duke, Davidson)

   • Deadlines vary, so be sure to check with your school and complete the necessary forms on time.

Federal Student Aid (FSA) Information:

Federal Student Aid Website: The official website for applying for financial aid from the U.S. government. Students can fill out the Free Application for Federal Student Aid (FAFSA) form online, check eligibility, and manage loans and grants. To start the application, students need to create a StudentAid.gov account with a FSA ID.

Resources for Filling Out FAFSA: 

When it comes to completing the Free Application for Federal Student Aid (FAFSA) in North Carolina, here are some helpful resources:

1. Book an Appointment with our Financial Aid Advisor Ms. Marece Mayo.  She is available to meet with students and families by appointment on Mondays.  See the link at the top of the page.

2. College Foundation of North Carolina (CFNC): They offer FAFSA Assistance resources, including an interactive Financial Aid Map to find the financial aid contact at nearly every college in North Carolina. You can also contact the Federal Student Aid Information Center for live chat, phone, and email assistance with the FAFSA.

3. myFutureNC: They offer videos on completing the FAFSA, as well as Spanish resources. For personalized assistance, you can contact a North Carolina community college or public/private university financial aid office near you or call the Federal Student Aid Office.

4. College Aid Pro: College is one of the biggest investments in life. You don’t have to navigate it alone. Our college funding experts are available and ready to assist in your college planning journey. 
   
   

Remember, completing the FAFSA is an essential step in accessing federal, state, and college-specific financial aid. Good luck with your application! 😊

Additional Financial Aid Resources:

• Sofi At Work Webinar Series - We understand how complicated and stressful financing college can be. That’s why we’re thrilled to offer this 4-part college financing webinar series that will show you how to navigate FAFSA® (especially this year!), find merit scholarships, and appeal your financial aid offers (yes, you actually can do that!