Congressman Barrow believes that a college education is the
best investment a person can make in their future. Over the course of a lifetime a college
graduate will earn almost twice the income of someone who didn't go to
college. Today the cost of college is
higher than ever, and is too high for many families to bear. That's why the Congressional Research Service put together this page of resources for students looking for financial aid, to make college a little more affordable.
The basics: getting started
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- 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.
- Parents of students: save money long before your child attends
college.
FinAid: for Parents
College Savings Plan Network (state "Section 529"
plans)
Tax incentives for higher education expenses
Cash for College
FinAid: The Smart Student Guide to
Financial Aid
Financial Aid: You Can Afford It
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
Student Aid and Where it Comes From
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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 U.S. Department of Education:
- Student Aid on the Web
- Financial Aid Resource Publications
- Loans are the most common federal aid and must
be repaid when you graduate or leave college.
- Stafford Loans (FFELs and Direct Loans) include:
- 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
- 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 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
Private foundations, corporations, and organizations
offer scholarships or grants: and the institution's financial aid
office when you apply for admission.
College Board Scholarship Search
FastWeb
Grants for Individuals
Targeted aid for special groups
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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).
Aid for private K-12
education: No direct federal assistance, check with schools themselves:
Repaying your loans
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After college, the federal government has ways to help you
repay
your loans.
States and some private employers provide help in repaying
loans in exchange for certain types of public service.
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