How to Pay for College?
There are a lot of options when it comes to paying for a post-secondary education, see some of your options here.
College is expensive but the cost of an education shouldn't deter you from pursuing your dreams. There are many different options available to students to help them pay for college. Resources to explore for financial aid include the institution you will be attending; local, state, or national organizations; banks; personal savings; or the government. Everyone qualifies for federal loans regardless of family income. This process starts with the FAFSA application. Remember that your ACCESS Advisor is here to help, if you or your parents have any questions be sure to talk with your school's advisor
Payment Options
Scholarships
Awarded based on merit and sometimes need; does not have to be repaid.
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Best Resources-School Counselor/ACCESS Advisor
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The institution you plan to attend may have need and merit based scholarships available. Contact Admission and/or Financial Aid Office
Grants
Aid that does not have to be repaid; typically based on demonstrated financial need.
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Federal Pell Grant-Federal funds
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Institutional Grants-Awarded by individual colleges
Loans
Aid that must be repaid in full plus interest.
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Federal Perkins Loan - Federal Funds Administered by Institution.
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Direct Subsidized Loan - Federal Loan; Interest is typically deferred while student is in school.
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Direct Unsubsidized Loans - Federal Loan; Interest is not deferred while student is in school.
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Direct (Parent) PLUS Loan - Federal Loan for parents of dependent students.
*If your parents cannot obtain a PLUS loan, you may be eligible to borrow additional Unsubsidized Stafford loan funds.
Additional Options
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Military Service
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Payment Plans, School Loans, Private Education Loans
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Personal or Family Savings including U.S. Savings Bond Plans or 529 Savings Programs
Employment Programs
Money earned through employment; paid directly to school or to you.
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Federal Work-Study (Federal work program ad ministered to the school - need based.)
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Regular Student Employment - non-need based employment on or off campus.
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Co-op/Internship Programs
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Military Service
The FAFSA
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Everyone qualifies for the federal loan options through FAFSA, regardless of your family income. Apply to see what else you are eligible for!
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Completing the FAFSA is noncommittal. Once you apply you then have the option of choosing what portion, if not all, you want to accept. It’s better to have it and choose not to use it, than to need it and not have it.
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Many institutions will not prepare an award letter/financial aid package without being accepted into the institution and completing the FAFSA.
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Some scholarships require your FAFSA information as part of their scholarship application
Important Notes about the FAFSA
Helpful links
Information Required for FAFSA
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Your Social Security number (it’s important that you enter it correctly on the FAFSA form!)
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Your parents’ Social Security numbers if you are a dependent student
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Your driver’s license number if you have one
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Your Alien Registration number if you are not a U.S. citizen
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Federal tax information or tax returns including IRS W-2 information, for you (and your spouse, if you are married), and for your parents if you are a dependent student:
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IRS 1040
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Foreign tax return or IRS 1040NR
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Tax return for Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, the Marshall Islands, the Federated States of Micronesia, or Palau
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Records of your untaxed income, such as child support received, interest income, and veterans noneducation benefits, for you, and for your parents if you are a dependent student
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Information on cash; savings and checking account balances; investments, including stocks and bonds and real estate (but not including the home in which you live); and business and farm assets for you, and for your parents if you are a dependent student
How to Create an FSA-ID Account
What is my FSA ID?
The FSA ID ― a username and password ― has replaced the Federal Student Aid PIN and must be used to log in to certain U.S. Department of Education websites. Your FSA ID confirms your identity when you access your financial aid information and electronically sign Federal Student Aid documents. If you do not already have an FSA ID, you can create one when logging in to Studentaid.gov