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Educational Resources

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Financial Aid for Students

The basics: getting started

  • 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
    • Student Aid on the Web (U.S. Department of Education)
    • Other Internet sites (search terms student financial aid OR assistance)
  • Ask questions of counselors: you may have exceptional circumstances that affect your eligibility.
  • Keep copies of all forms and correspondence: you must reapply for aid each year.

Student aid and where it comes from

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.
  • Loans, the most common federal aid, must be repaid when you graduate or leave college.
  • 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
  • For questions not covered by the Department of Education website, call the Federal Student Aid Information Center at 1-800-433-3243.

States offer residents a variety of scholarships, loans, and tuition exemptions.

Colleges and universities provide some 20% of aid, most need-based. Check university websites and the institution's financial aid office when you apply for admission.

Private foundations, corporations, and organizations offer scholarships or grants:

Targeted aid for special groups

Interested in public service?

Federal assistance programs seek to encourage people to work in geographic areas or professions where there's a particular need (such as doctors in underserved areas); encourage underrepresented groups to enter a particular profession; and provide aid in exchange for services provided (such as military service).

  • AmeriCorps Education Award
    • Volunteers who complete one year of service receive an education award for current higher education expenses or to repay student loans.
  • Army Tuition Assistance
    • Additional benefits for Army personnel.
  • Indian Health Service
    • Scholarships for American Indian/Alaskan Native health profession students and loan repayment for persons working in IHS facilities.
  • Nursing Scholarships
    • Offered in exchange for two years of service in areas with critical nursing shortages.

Aid for private K-12 education: No direct federal assistance, check with schools themselves:

Repaying your loans

After college, the federal government has ways to help you repay your loans.

  • Eligibility depends upon the type of loan, when it was made, and whether it's in default. Check with your loan officer to find out if you qualify.
  • Loan Consolidation: combine your federal loans into a single loan with one monthly payment.