How to Get Financial Aid
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In 2007-2008, tuition at private colleges averaged nearly $24,000 a year; public college tuition was about a quarter of that (for in-state students), and community college tuition cost most students a little under $2,500 annually.
In recent years, four-year college tuition has risen at about 6.2% a year, while two-year college costs have increased about 4.5% annually. In most instances, available aid has increased as well.
And, you should apply for some of that aid.
Approximately 67% of students receive federal aid. It comes in the form of grants and loans. The average student attending a two-year institution received more than $2,000 in such aid in 2007-2008. Student at four-year publics got about $3,600, and students attending four-year privates raked in, on average, $9,300 in federal aid.
The amount of federal grant aid and subsidized loans for which a student is eligible is determined by an analysis of the information provided on the Free Application for Federal Student Aid (FAFSA), which students must submit each year.
Other kinds of scholarships also require students to have a completed FAFSA, so be sure to get yours taken care of as quickly as you can.
College and university financial aid offices will gladly help you apply for federal, state, and other kinds of financial aid. And, don’t forget the wealth of financial aid and scholarship information you can find on the internet. Just try a search for “financial aid”, “college scholarships” or “scholarships” and you’ll see.
When filling out your FAFSA, you’ll be asked to provide information on income and assets. If you are a dependent student, you’ll also need to answer questions about your parents’ finances. Either way, the questions are very straightforward.
Although you can use a paper application, filling out the FAFSA online is far easier for lots of reasons. And, completing the FAFSA online makes it easier for you to track the process.
That’s really all there is to applying for financial aid. So, don’t put it off. If you meet all deadlines, you’ll find the process surprisingly smooth and easy.
The author is a university history professor and the author of two books and more than two dozen published articles. He has also conducted research on online colleges and online degree programs for working professionals.
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