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Financial Aid

What is Financial Aid?

Financial Aid is any money from a source other than the family to assist with the cost of attending college or trade/technical school. 

Four Main Types of Aid

  • Scholarships
  • Grants
  • Loans
  • Work Study

Preparing for the FAFSA

The information above is from the Federal Government website and will have the most up to date information. 

 

Scholarships

With the rising costs of college, everyone is scrambling to find money to assist with the price of higher education. Keep in mind that scholarships fall into two categories of awards:  Merit ( talent, skill, academics, ability) AND/OR Financial Need. Additionally, finding a scholarship is like looking for your first job… don’t be picky and apply to MANY! There are no guarantees and you must put in the time to reap a reward.

Scholarship "season" is typically October-March of your senior year. There will be a few that fall outside of that window, like ones reserved for juniors. It is recommended that students focus on college applications first and then move into the scholarship search process, so that it is not too overwhelming.

Suggested Resources

Other Places to Look

  • Colleges and Universities
  • Local organizations
  • Churches
  • Foundations
  • Companies/Employers

FAFSA

The Free Application for Federal Student Aid is set-up each year by the US Department of Education.  They offer over $150 billion dollars each year to provide funding to millions of students. The application usually opens on October 1st, but this year it will open in December due to changes to the process. The state of Texas is now requiring the FAFSA or TASFA application to be completed for high school graduation. Although students fill this out their senior year of high school, they will need to contact the college/university financial aid office if they have specific situations they need to discuss. The Texas priority deadline for this year is March 15th. Please visit individual institution websites to view their financial aid timeline. 

In the past, many families did not choose to complete the FAFSA because they did not believe they would qualify for financial aid. However, rules have changed and ALL STUDENTS are required to complete the FAFSA in order to receive ANY form of financial assistance from a college/university.

What will college cost?

With the rising costs of college, the task of paying can seem overwhelming. There are tools that can help plan ahead. Each college is required to have a net price calculator on their website. Here are two links to general calculators. Please see each college/university website for specific cost information.