Paying for college

Funding for post-high school education (including traditional four-year colleges, career colleges [1], and technical schools [1]) can take several forms. These are outlined in the federal government's Student Aid website [2]. Take a few minutes to look at this site, because it contains a lot of useful information.

Types of Student Aid

There are several types of student aid:

• Grants and scholarships (These do not have to be repaid)
• Student loans (These do have to be repaid)
• Federal Work-Study — This program provides part-time on-campus jobs for undergraduates

Who Awards Student Aid?

Financial aid for attending community, 4-year or technical college is awarded by:

• The federal government (apply using the FAFSA)
• States (for Missouri state aid, look at the Missouri Department of Higher Education's [3] website)
• Schools. Many institutions offer scholarships; visit with the financial aid officers of schools you are interested in attending to learn more about the application procedures.
• Businesses and organizations. Think about every place you regularly do business with, and ask them if they have a scholarship available.

To qualify for student aid, you must:

• Demonstrate financial need (in most cases)
• Possess a high school diploma or GED
• Be working toward a degree or certificate in an eligible program
• Be a U.S. citizen
• Have a valid social security number
• Register with the Selective Service (if required)
• Maintain satisfactory process once in school
• Certify that you are not in default on a student loan
• Certify that you will use federal student aid for educational purposes

The FAFSA (Free Application for Federal Student Aid)

An important step of the process for applying for college aid is complete the Free Application for Federal Student Aid (FAFSA) [4]. Application deadlines for the various programs vary; many schools have their own application deadlines for completing the FAFSA.

A major part of the FAFSA application requests your tax information. Because you may not have your income taxes completed at the time your FAFSA application is due, use the information you have to estimate your income, credits, and deductions.

Regarding federal work-study, remember that not all on-campus jobs are federal work-study jobs; you should verify this when you apply.

Scholarships, Loans, and More

In addition to government websites, also look at:

• FinAid! The Smart Student Guide to Financial Aid [5]— Contains information about student loans, scholarships, saving for college, the FAFSA, military aid, and financial calculators.
• Fastweb [6]— An excellent online resource for searching for specific college scholarship opportunities. You'll be asked to create a short profile and will then be provided matches based on your inputted information. Fastweb also information about jobs, financial aid, and college life.
• Financial Aid Articles [7]— A respected online college and university directory.
• The College Board's [8] website — Also has excellent information on paying for school.

Finding General Information About Colleges Online

Here are three excellent websites to search for colleges by size, program, and more:

• College Navigator [9] — The federal government's official college search site.
• U.S. College Search [10] — Another excellent general college search site.
• Technical Schools Guide [11] — A helpful online guide to U.S. technical schools.

Don't forget to also:

• Visit with your high school guidance counselor, as well as the financial aid representatives at the schools you are interested in. The financial aid reps will be familiar with their institutions' application procedures.
• Visit the Library! Here are some other sources for researching college financial aid opportunities from the Library's catalog [12], under the subject terms "Education-Higher, Finance"):

Peterson's How to Get Money for College 2011 [13]. 2010. Call number: REF 378.3 P 485 2011

The Complete Idiot's Guide to Paying for College [14]. 2010. Call number: 378.3 C59C 2010

Debt-free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off my Parents [15]. 2010. Call number: 378.38 B62D 2010

For additional information, contact an H&R Block Business & Career Center librarian by phone, 816.701.3717, or by e-mail, bcc@kclibrary.org [16].