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Frequently Asked Questions
Financial aid refers to monetary assistance provided to students and their families to help cover the costs of education, including tuition, fees, books, and living expenses.
Eligibility for financial aid is determined by factors such as family income, household size, and the cost of attending college. Most students are eligible for some form of financial aid.
Financial aid comes in various forms, including grants, scholarships, work-study programs, and loans. Grants and scholarships are typically “free money” that does not need to be repaid, while loans require repayment with interest.
To apply for financial aid in the United States, you’ll need to complete the Free Application for Federal Student Aid (FAFSA) or, in some cases, the CSS Profile for institutional aid. Be sure to check with your college or university for specific application requirements.
It’s crucial to apply for financial aid as early as possible, as some aid programs have limited funds. The FAFSA opens on October 1st each year, so aim to submit your application well before college deadlines.
You’ll need information about your income, assets, and tax returns. It’s helpful to have your parents’ financial information if you’re a dependent student.