Congratulations! You got in. Your dream college has accepted you.
And now the million-dollar question. How will you ever pay for it?
Don’t panic. When it comes to making your college dream come true, you and your family have plenty of options.
There are scholarships, grants, and student loans available to help supplement any money you and your parents have put aside for your college education. And your dream school may have a generous financial aid department.
You never know what kind of grants and scholarships you may qualify for. So take a deep breath and breathe and believe. You can make your college dream a reality.
File a FAFSA
First things first: File a Free Application for Federal Student Aid (FAFSA). To be eligible to receive federal and state financial aid, you must file a FAFSA.
So put the filing of your FAFSA forms on the top of your to-do list.
A couple of weeks after submitting your FAFSA forms, you’ll receive a Student Aid Report. This report summarizes all the financial information you and your parents submitted on the FAFSA and most importantly reveals the expected family contribution.
The expected family contribution is the amount of money that the federal government expects you and your family to pay in college education costs.
Your dream college and university will try to make up the difference between the cost of attending their school and your family’s expected contribution with a financial aid package.
Private colleges and universities tend to have deeper pockets than state universities, so a generous financial aid package may help make up for the additional costs of attending a higher-priced private school. Private colleges and universities may have additional financial aid forms that need to be submitted. Be sure to file all forms promptly.
Once you receive the financial aid award letter from your college or university, you’ll have a true sense of just how much attending your dream college or university will cost you and your family.
Many students and families end up paying for college with a combination of grants, scholarships, and loans and you can, too.
Scholarships and Grants
How does some free money sound? Apply for as many grants and scholarships as you can. Scholarships are available for everything from athletics and academics to community involvement and financial need.
Spend some time with your high school guidance counselor and find out what scholarships may be a good fit for you. Explore local sources of scholarships such as churches, civic organizations and businesses. Every little bit helps.
For larger, national awards, you may want to visit the library and check out some books on scholarships.
Or hop online. You can search for scholarships for free by visiting sites such as . Avoid sites that charge you to search for scholarships.
Be sure to check with the financial aid department of the college you’ll be attending. You may be a perfect fit for a grant or scholarship offered by your dream college or university.
With scholarships and grants, just a little bit of research can really pay off, so get digging.
