Start gathering information early.

Free information is readily available from:

• High school counselors
• College and career school financial aid offices (where you plan to attend)
• Local and college libraries
• U.S. Department of Education Web page
• Other Internet sites (search terms student financial aid OR assistance)

Ask questions: counselors may know if you have exceptional circumstances that affect your eligibility.

Be organized: use calendars to keep on track.

Keep copies of all forms and correspondence: you must reapply for aid each year.

Parents of students: save money long before your child attends college.

• College Savings Plan Network (state "Section 529" plans)
• FinAid: for Parents
• Tax incentives for higher education expenses

Good overviews:

• Cash for College
• FinAid: The Smart Student Guide to Financial Aid
• Looking for Student Aid
• Mapping Your Future
• Paying for College

Beware of scholarship scams -- don't pay for free information!

• Department of Education
• Federal Trade Commission

Basic assistance categories:

• Financial need-based

Remember that students and their parents are responsible for paying what they can-- financial aid is a supplement, not a substitute, for family resources.

• Non need-based

Factors include academic excellence, ethnic background, or organization membership. Corporations may also offer assistance to employees and children.

Federal Student Aid:

• Provides nearly 70% of student aid under Loans, Grants and Work/study programs.
• Available to all need-based applicants; some loans and competitive scholarships for non need-based.
• Free information from the United States Department of Education:
  • Funding Your Education

• Loans are the most common federal aid and must be repaid when you graduate or leave college.
  • Stafford Loans include:
    • Federal Family Education Loans (FFEL) from private lenders, such as banks and credit unions, guaranteed by the federal government
    • William D. Ford Direct Loans (DL) directly from the federal government.
    • Federal PLUS Loans parental loans, not need-based
  • Perkins Loans for the most needy undergraduates; through participating schools.
• Scholarships/grants are mostly need-based and require no repayment:
  • Pell Grants
  • Federal Supplemental Educational Opportunity Grants (FSEOG)
• Other grants, scholarships, and fellowships, mostly graduate level: search the Catalog of Federal Domestic Assistance (CFDA) by Beneficiary, such as "Student or Trainee" or "Graduate Student".
• Congressional" scholarships:
  • Named for Member of Congress or other prominent individual (such as Byrd Honors Scholarships, Fulbright fellowships)
  • Merit-based and highly competitive
  • Members of Congress do not play a role in selecting recipients
  • Search by Beneficiary in the Catalog of Federal Domestic Assistance
• Work study programs allow you to earn money while in school:
  • Federal Work Study Program: college campus jobs
  • Student Educational Employment: jobs with the federal government
• For questions not covered by the Department of Education Web site,