Q & A
StudentFinancial Aid
How much does it cost to go to
college or trade school?
Adapted from: http://www.ed.gov/students/prep/college/thinkcollege/early/edlite-q-and-a.html
The costs of colleges and trade or technical schools vary widely. It can cost as
little as $200 or as much as $28,000 per year.
How can I afford to go to college?
There is money, called financial aid, to help you pay for college. Financial aid
cancome from different places: the federal government, the state where you
live, colleges, educational associations, and banks. Your chances of getting
financial aid are as good as anyone else’s. All you have to do is plan ahead and
apply for it.
The major source of student financial aid is the U.S. Department of Education.
About 70% of the student aid that is awarded each year comes from the U.S.
Department of Education's programs (approximately $61 billion in 2000-2001).
The Department's aid includes grants, loans, and work-study.
Can I get financial aid without high grades?
Probably, since most financial aid is based on need, not grades. You and your
familyhave to show you need help paying for college.
Who provides financial aid and where do I apply?
You apply for grants from the federal government, the state where you live, and
thecollege you are going to attend. Apply for work-study from the college.
Apply for loans from banks and educational organizations.
Free help is available, whether you are looking for sources of student aid or
completing the Free Application for Federal Student Aid (FAFSA). The following
sourcesusually have information about aid from the federal government and
yourstate government; most can tell you about funds from your local
community and private sources as well.
! A college or career school financial aid office. Talk to the financial aid
administrator at the school you plan to attend. Be sure to ask about
institutionalaid—money the school itself awards students. The school's
catalog or web site is also a good source of information about aid available.
! A local or college library. Relevant materials are usually listed under student
aidor financial aid. If you need help, ask the reference librarian.
! The Internet. Search using the key words student aid or financial aid.
Remember that many scams operate over the Internet. So, if an Internet
servicecharges a fee, research it carefully. Better yet, use one of the many
freeInternet search services or aid information sites.
! A high school counselor's office. Many counselors have a large selection of
materials, know what recent graduates have received, and can guide you to
freeonline information.
I have to pay financial aid back, right?
There are three basic types of financial aid: grants, work-study, and loans.
Grants are like gifts because you do not have to pay them back. Some grants,
calledscholarships, are based on grades, athletic skill, and other abilities. Workstudy
is a part-time job, usually on campus, that helps you earn money to pay for
yourcollege expenses. Loans must be paid back after you leave college. Most
students get a package mixing all three types of financial aid.
Student aid may also be available from foundations, community organizations,
andorganizations related to your field of interest (for example, the American
Medical Association or American Bar Association). Contact the organizations
directly for information. Check with your parents' employers to see whether
theyaward scholarships or have tuition payment plans.
Student aid is also available from other federal agencies, such as the U.S.
Department of Health & Human Services and the U.S. Department of Veterans
Affairs. For links to such information, visit http://www.students.gov/
I do not want to go to college. I want to go to a trade
school. Can I get financial aid to help me pay for it?
Yes. You can get financial aid to pay for many trade and technical schools.
Check with your school counselor or directly with the school or program that
interestsyou.
To get information on student aid for college or career school:
800-4-FED-AID (800-433-3243)
TTY: 800-730-8913
To get information about scholarship scams:
877-FTC-HELP (877-382-4357)
http://www.ftc.gov/scholarshipscams/
To fill out the Free Application for Federal Student Aid (FAFSA):
To get help completing the FAFSA:
800-4-FED-AID (800-433-3243)
TTY: 800-730-8913
www.studentaid.ed.gov/completefafsa