The document provides information on different types of financial aid available for college including federal, state, institutional, and private aid. It outlines steps students should take to apply for aid such as completing the FAFSA, exploring state and institutional scholarships, and searching privately for scholarships. The document also offers tips on ways to cut costs such as taking AP classes, living at home, and purchasing books elsewhere besides the university bookstore.

1. FINANCIAL AID
A Quick Guide

2. MAIN T YPES OF AID
 Federal
 Available after completing FAFSA -http://www.fafsa.ed.gov/
 State
 Almost every state has financial aid for it’s residents
 Check available aid by state:
http://www.nasfaa.org/students/State_Financial_Aid_Programs.aspx
 University/ Institutional
 Many institutions provide need based financial aid
 There are also Institution based scholarships available
 Private
 Any company, program, or outside source that provides scholarships

3. BEST WAY TO GO ABOUT IT
 Financing college should be a combination of all of the types
of aid.
 The easiest aid to get is Federal and State aid – simply fill out
the appropriate applications and if you’re eligible, you will
receive aid.
 Starting early gives you the best chances of success.

4. IMMEDIATE STEPS
 Start in September
 Visit http://www.nasfaa.org/ for a comprehensive outline of
everything Financial Aid .
 Visit target university websites for financial aid policies
 Some university scholarships have fast deadlines (before February)
so visit the site early and check for deadlines
 You can call or email the financial aid office of the university any
time.
 Apply for your FAFSA PIN

5. FREE APPLICATION FOR FEDERAL
STUDENT AID (FAFSA)
 The application opens up January 1 st
 Every student and their parents need a PIN to sign the online
application.
 Have your mentee retrieve their FAFSA PIN early (now)!
http://www.pin.ed.gov/PINWebApp/pinindex.jsp
 The FAFSA application makes you eligible for federal aid but
many other sources of funding require the FAFSA
 This is the most important form to fill, it opens your door to
many more aid opportunities!
 Finish FAFSA As Soon As Possible

6. FEDERAL AID – IMMEDIATE BENEFITS
 Federal Pell Grants – Awarded to undergraduates in financial
need up to 5,550 each year for 12 semesters
 Federal Supplemental Educational Opportunity Grants (FSEOG)
 Awarded to students in exceptional need.
 The Federal Work-Study Program – Allows students to earn
money during the school year in many volunteer/ job
opportunities.
 Check your Eligibility for these programs and more.
 Help webpage for FAFSA that includes FAQS and a thorough
outline of their programs.
 http://www.fafsa.ed.gov/help.htm

7. STATE RESOURCES
 Each state has programs that include financial aid as well as
scholarships.
 Check with the State Education Agency website for a great
overview of Universities by the state, state programs are
available as well.
 State by State financial aid Programs:
 http://www.nasfaa.org/students/State_Financial_Aid_Programs.aspx
 List of Higher Education Agencies by State
 http://wdcrobcolp01.ed.gov/Programs/EROD/org_list.cfm?category_
cd=SHE

8. AFTER GOVERNMENT AID
 Federal and State aid are the easiest to get because they
give aid based on need.
 Other forms of aid may be given based on need, writing
skills, personal talents, and more.
 Check with each University for their aid programs and then
begin exploring Scholarships and Private Financial Aid
 Private Financial Aid includes money from:





Religious institutions
Companies both local and nationwide
Organizations
Universities
Essentially anything NOT government

9. PRIVATE FINANCIAL AID
 Start your search Locally (in your City/ Town) where there will
be fewer applicants (easier to get).
 Your College Counselors will have plenty of information for
local scholarships.
 There are scholarships for everything, expand your horizon!
 Essay and Book competitions
 Scholarships based on gender, religion, and ethnicity
 Scholarships based on interests, extracurricular activities, and
Academic Achievement
 You qualify for many more scholarships than you think. If you qualify,
then just apply.
 Look in scholarship books and online:
 www.fastweb.com
 www.collegeboard.com
 www.Zinch.com/scholarships

10. CSS PROFILE
 Many schools that of fer Early Admission will require a CSS
profile to be submitted
 Whether or not your target school of fers early admission,
check the website to see if the profile to be submitted:
https://profileonline.collegeboard.org/prf/PXRemotePartInsti
tutionServlet/PXRemotePartInstitutionServlet.srv
 There are only a few scholarships that also require the profile
and are very specific, check these out if they apply to you. If
you are not interested or ineligible for the scholarships and
your target school does not require the profile. Do not fill it
out.
 If you need to fill it out, turn it in 2 weeks before the
submission deadline.
 If you qualify for free or reduced lunch, you may be eligible for
a fee waiver for the CSS profile.

11. EXECUTION
 Use the time after college applications to begin looking at
potential sources of funding.
 Winter break is perfect for really diving into the application
process.
 Useful tip: Get a physical calendar for yourself and urge your
mentee to do so as well. Keep track of application dates!
 Can also keep all pertinent information on an Excel
Spreadsheet.
 Your mentee doesn’t have to finish the scholarship
applications now, but check eligibility and have a look at the
application as soon as possible.
 Have your mentee talk to their high school counselors .
 Many deadlines for scholarship opportunities come around
Mid February and on, to stay eligible, KEEP TRACK OF
DEADLINES.

12. RECAP
 Start by checking early your target institutional scholarships
and programs
 Check for Financial Aid within your state and apply (Can check
in September-November)
 Begin your Private Aid Scholarship search (November December)
 Finish FAFSA as soon as possible (After January 1 st )
 Fill out CSS Profile/ IDOC if necessary
 Continue working on financial aid applications and submit
early.
 The more you apply, the higher your chances. If you are
eligible, Apply!
 Once again, KEEP TRACK OF YOUR DEADLINES

13. WAYS TO CUT COSTS
 Take AP classes and Dual enrollment for early college credits.
 Mentees should speak to counselors about both topics but you can
confirm AP credit accepting universities:
https://apscore.collegeboard.org/creditandplacement/search -creditpolicies
 Consider Housing: Living at home, in a dorm, or of f campus
 Living at home saves the most money but may not be the full college
experience your mentee wants.
 Start at community College
 Also the most cost effective way to get a degree. Take 2 years of
general credits and transfer to a University. Check with the local
Community college & target university for credit transfer policies.

14. WAYS TO CUT COSTS
 Earn Money while working
 Federal Work Study program provides many jobs in participating
universities
 Having a job helps pay for tuition, costs of living, books, and your
social life while gaining new experiences.
 Choose appropriate meal plan
 Be realistic about your eating habits and only choose a plan you will
use.
 Buy used textbooks, rent, or find books online
 A good rule of thumb is to only use the university bookstore as a last
resort. Often times Amazon and Chegg offer cheaper options with
renting. Buying an older version of the textbook can cut costs too
when possible.

15. HIGH ACHIEVING SCHOLARSHIPS
 AXA achievement Scholarship: for outstanding achievement
outside of the classroom: http://www.axa-equitable.com/axafoundation/AXA -achievement-scholarship.html
 Ron Brown Scholar: High achieving African Americans:
http://www.ronbrown.org/Apply/EligibilityRequirements.aspx
 Gates Millennium Scholarship: High Achieving ethnic
minorities: http://www.gmsp.org/
 List of Hispanic Scholarship Fund scholarships:
http://hsf.net/en/scholarships/programs