Paying for College

Tuition, room and board, and other college fees can quickly add up.  Plan on spending up to $4,000 or more each year on campus to cover additional costs, like cell phone bills, a computer, and transportation (to name a few).

Wondering how you’re going to find the money to pay for it all?  The good news is there are many sources of financial aid that may help you cover college expenses. 

What is financial aid?
Financial aid is money awarded or loaned to students and their parents to help pay for college.  There are three primary categories of financial aid:

Free Money: Money awarded or given to you, and does not have to be repaid. Also known as gift aid.
Examples: Scholarships and Grants        

Earned Money: Money earned through a part-time campus job that is applied to college expenses and does not have to be repaid.  Also known as self-help aid.
Example: Work-Study Programs

Borrowed Money: Money loaned to students and must be repaid, usually with interest.
Examples: Federal Education Loans & Alternative (Private) Loans

Who is eligible for financial aid?
No matter how much you earn, or how substantial your savings and assets, you can apply for financial aid through the Free Application for Federal Student Aid (FAFSA), a Federal form used to determine your eligibility for Federal, state and some institutional aid programs. Your eligibility is determined from information reported on your FAFSA.