- How do I get financial aid for college?
- What are some of the common financial aid programs linked to FAFSA?
- Where can I get personalized help through an internet source?
How do I get financial aid for college?
The U.S. Department of education runs a variety of student financial
assistance programs which provide over $60 billion of financial aid annually
in the form of grants, loans, and work-study assistance. In order to qualify
for this, you have to apply by submitting the Free Application for Federal
Student Aid (FAFSA). Submitting the FAFSA qualifies you for a variety of
federal and state financial aid programs. Many colleges and universities
require that you submit the FAFSA in order to be eligible for any of the
financial aid programs (scholarship, awards, etc.). The fastest and easiest
way to submit the FAFSA is by doing so online!
The deadline to submit the FAFSA to apply for the 2001-02 school year is
1, 2002. However, several colleges require that the FAFSA be submitted much
earlier in order to be eligible for campus-based aid programs. To be on the
safe side, it is recommended that you submit your FAFSA as soon as possible
after January 1st.
Important Web Addresses:
What are some of the common financial aid programs linked to FAFSA?
Here is a short description of the different types of support available once
you have submitted your FAFSA:
A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants
are awarded to undergraduate students who have not earned a bachelor's or a
Federal Supplemental Educational Opportunity Grants (FSEOG)
FSEOG are gift aid for undergraduates with exceptional financial need. You
can get between $100 and $4,000 a year, depending on when you apply, your
financial need, and the funding at the school you're attending.
Federal Work-Study (FWS)
FWS provides part-time jobs for undergraduate and graduate students with
financial need, allowing them to earn money to help pay education expenses.
Gaining useful work experience is a plus!
Federal Perkins Loan
A Federal Perkins Loan is a low-interest (5 percent) loan for both
undergraduate and graduate students with exceptional financial need. Federal
Perkins Loans are made through a school's financial aid office.
Federal Family Education Loans (FFEL) and Direct Loans
Schools generally participate in either the FFEL or the William D. Ford
Federal Direct Loan Program. Under the Direct Loan Program, the funds for
your loan come directly from the federal government. Funds for your FFEL
come from a bank, credit union, or other lender that participates in the
PLUS Loans (Parent Loans)
Parents who have an acceptable credit history can borrow a PLUS Loan to pay
the education expenses of a child who is a dependent student enrolled at
least half time in an eligible program at an eligible school
The FSEOG, FWS and Federal Perkins Loan programs are also collectively known
as campus-based aid programs. These programs are administered directly by
financial aid office at each participating school.
Where can I get personalized help through an internet source?
The following website has several features to help you apply for college and
get funding. http://www.financialaid.com/?id=sprinks
You will find the following topics:
*Explore and educate yourself on the financial aid process. Chat live with
your personal FinancialAid Concierge. A great place to start for first time
students and family!
*Comparison shop among the 10,000 schools in our database! Find out how much
it really costs to go to the school of your dreams...
*There are thousands of scholarships available to all type of students! You
dont have to finish first in your class to qualify for a scholarship...
*Are you wondering what the difference is between a Stafford and PLUS loan?
In the LoanZone you will get a student loan education and the ability to