Preparing for College - Different Steps to Paying for College
For parents, students, and school officials, the need
to prepare for the expenses associated with going to
college are often difficult to understand. From the
experience of others as well as experts in the area,
the following guided "tour" steps are offered.
Ten Steps to Paying for School:
- Find out as much as you can about schools
that interest you. Request information on the
costs of attendance, and try to calculate your
school and living expenses.
- Discuss options for paying for school. Also,
talk to your high school counselor about applying for local
or private scholarships.
- Request information and forms on financial aid,
and complete admission applications.
- Apply for financial aid. Start by completing the
Free Application for Federal Student Aid (FAFSA), which
will help determine your need for financial aid.
You can get the form from your high school counselor or a
financial aid office of a school you are considering attending.
- Complete any other aid or admission forms required by the school.
- Receive the Student Aid Report (SAR). This will summarize
the information you completed on your FAFSA, and
will include your Estimated Family Contribution.
Review the SAR to make sure it is correct, and send it to the
financial aid offices of the schools you are considering enrolling in.
- Receive your award letter. The letter, which comes from
the school's financial aid office, will let you know
what kind of financial aid, and how much, you qualify for.
- Consider the financial options outlined in the award
letter. These options may include: grants, scholarships,
loans, and work-study programs.
- Accept or reject all or part of the award package, and
complete any other forms required by the school.
- Reapply for financial aid each year you are in college
or postsecondary training. If you filled out a FAFSA the
year before, you will probably be eligible to complete the shorter Renewal FAFSA.
See the Commission's
Financial Aid
page for additional resources.
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