How to Pay for How to Pay for CollegeCollege

How to Pay for How to Pay for CollegeCollege

Scholarships• Free money — Scholarships and grants are known as

gift aid because they do not require repayment. • Institutional scholarships• Private Sector Scholarships — Private foundations,

companies, and service groups (e.g. Chambers of Commerce, Rotary and Lions Clubs, and many corporations and businesses) also award scholarships.

• Who is eligible for scholarships?– There are scholarships for all kinds of students.

Many scholarships are merit based, meaning a student's academic achievement determines their eligibility for the scholarship and how much is awarded.

Grants• Free $$$$• Based on financial need, interests,

or academic success

• Borrow – college is an investment– Recent studies show a person that

earns a bachelor's degree will earn over a million dollars more over the course of his or her working life than a person who only attains a high school diploma.

• Not free $$$, must pay back

How do I get a Student Loan

• Must fill out Free Application for Federal Student Aid (FAFSA). The information that you and your parents provide on this form serves as the basis for determining your eligibility for federal student aid, and for state and institutional aid programs.

• Remember! — You have to pay back all the education loans you borrow

Scholarship Sites• www.educationquest.org/ • http://www.foundationforlps.org/ • careercruising.com• isite.lps.org/pvolker/web/ScholarshipsFinancialAid.html • www.fastweb.com • www.aie.org • www.scholarships.com/• www.college-scholarships.com• www.petersons.com