Funding For College
The following sources usually have information about aid from the federal government and your state government; most can tell you about funds from your local community and private sources as well.
- A college or career school financial aid office. Talk to the financial aid administrator at the school you plan to attend. Be sure to ask about "institutional aid" - money the school itself awards students. The school's catalog or web site is also a good source of information about aid available at the school.
- A local or college library. Relevant materials are usually listed under "student aid" or "financial aid." If you need help, ask the reference librarian.
- The Internet. Search using the key words "student aid" or "financial aid." Remember that many scams operate over the Internet, so if an Internet service charges a fee, research it carefully. Better yet, use one of the many free Internet search services or aid information sites.
- A high school counselor's office. Many counselors have a large selection of materials, know what recent graduates have received, and can guide you to free online information.
U.S. Department of Education
The major source of student financial aid is the U.S. Department of Education. About 70% of the student aid that is awarded each year comes from the U.S. Department of Education's programs (approximately $61 billion in 2000-2001). The Department's aid includes grants, loans, and work-study.
Free materials available in the financial aid office at your college or career school or the guidance office at your high school include the FAFSA as well as The Student Guide and Funding Your Education (two booklets that provide detailed information about the U.S. Department of Education's programs). You also may request copies of the FAFSA or either of the two booklets by calling the Federal Student Aid Information Center (FSAIC) toll free at the number shown below. The FSAIC's operators can answer your questions about federal student aid and the application process.
Federal Student Aid Information Center (FSAIC):
800-4-FED-AID (800-433-3243)
(TTY 800-730-8913)
Most federal student aid is awarded based on financial need rather than scholastic achievement. For instance, most grants are targeted to low-income students. However, you do not have to show financial need to receive certain federal student loans.
You may apply for federal student aid at no cost by filing a paper FAFSA or applying electronically with FAFSA on the Web, the online application for federal student aid. All you need for FAFSA on the Web is a computer that supports a Department-approved browser. FAFSA on the Web is at www.fafsa.ed.gov.
