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MyCollegeCalendar highly recommends
that all students and parents seek out scholarships and grants. Scholarships
and grants are basically free money that is almost always tax-free
and never has to be repaid. Colleges, organizations, and individuals
that award scholarships seek students who truly deserve them; deserving
students are generally sought in one or more of the following categories:
Financial need, Academic talent, Athletic talent, Outstanding
community service, Scientific achievement, Leadership and more.
Learn
more about Scholarships and Grants.
Flow
Chart -
Financial Aid
Follow MyCollegeCalendar's recommended step-by-step tasks for completing
the financial aid process using our graphical Flow Chart! |
Get
Started - Financial Aid
Follow MyCollegeCalendar's
recommended step-by-step tasks for completing the financial aid
process. The tasks are listed in chronologic order.
Get
Started - CSS/PROFILE
Follow MyCollegeCalendar's recommended step-by-step tasks for preparing and submitting
the CSS/PROFILE financial aid application. The tasks are listed in chronologic
order.
Get
Started - FAFSA
Follow MyCollegeCalendar's recommended step-by-step tasks for preparing and submitting
the Free Application for Federal Student Aid (FAFSA). The tasks are listed in
chronologic order.
Get
Started - Financial Aid Award Letter
Follow MyCollegeCalendar's recommended step-by-step tasks for analyzing financial aid award letters. The tasks are listed in
chronologic order.
Get
Started - Student Loans
Follow MyCollegeCalendar's recommended step-by-step tasks for
determining the amount of money to borrow and for selecting and securing student education loans. The tasks are listed in
chronologic order. |
Financial
Aid Overview
Students, and especially parents, should understand all aspects of
financial aid process.
Applying
for Financial Aid
Detailed discussion of scholarship, grant, and loan application processes,
common pitfalls to avoid, and all-around practical advice are provided.
Minimize
Bank Savings
Students, beware of how much money you have in your savings and checking
accounts.
Scholarships
Begin researching scholarships (if you haven’t already).
Grants
Scholarships and grants are basically free money that is almost always
tax-free and never has to be repaid.
Student
Loans
These include government funded, government guaranteed, and private institution
loans that must be repaid.
Federal
Work Study
Federal Work Study is a part-time job with an hourly wage. The job may
be located on- or off-campus. These jobs are designed to help students
earn wages to pay for books and other materials. No money from any Federal
Work Study has to be repaid.
FAFSA
The FAFSA (Free Application for Federal Student Aid) is required by virtually
all colleges for students to receive need-based financial aid.
FAFSA
PIN
FAFSA PINs (Personal Identification Numbers) are required for both you
(the student) and one of your parents.
FAFSA
Assistance
The Federal Student Aid Information Center can answer questions about
the FAFSA process.
CSS/PROFILE
Financial Aid Application
The CSS/PROFILE is a lengthy financial aid application very similar to
the FAFSA. While the FAFSA is used to award federal government
student aid, the CSS/PROFILE is used by many private schools and scholarship
programs to determine financial need to award non-federal government
student aid.
Letter
of Special Circumstance
If you have a family financial situation that is not fully addressed
by the financial aid process, consider writing a letter of special circumstance. Include
this letter in your application packet to each college and explain how
the situation negatively affects your family’s finances.
Calculating
the Cost of College
A good starting point for discussion is the evaluation of your Expected
Family Contribution (EFC). Your EFC the amount of money you and
your family are expected to contribute toward the cost of college as
calculated by the U.S. Department of Education.
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