Wilson High School Counseling

Financial Aid Basics Click here for scholarship information.
Click here to find more college information and to find college search info. How do I get Financial Aid? What kinds of Financial Aid are there?

Source	Description
Some Sources of Financial Aid Information This info will change over time. Please check back often.
	"FAFSA4caster will help you get an early start on the financial aid process by providing you with an early estimate of your eligibility for federal student aid."
www.nasfaa.org	This site is run by the National Assoc. of Student Fin. Aid Administrators. If they don't know about fin. aid, who does? Look at the Student/Parent pages.
FinAid.org	This is a good place to start gathering financial aid information. You can learn about scholarships, loans, and other types of aid. There is advice on how to get aid, and on how to avoid scams.
FastWeb.com	FastWeb is a free scholarship search service. There are also sections that let you search for college information and other financial aid information.
Federal Student Financial Assistance	This US Dept. of Ed. website will help you find out about different types of aid, how to apply for federal aid, and how to pay back student loans. There are links to the FAFSA, and some very helpful publications, available in English and Spanish
Students.gov	The "student gateway to the U.S. government," this site has tons of links to government programs for students.
College Board	The organization that administers the SAT program also has information on finding money for college. Click on the "Paying For College" button for more info.

How to get financial aid (highly simplified):

There are four main forms of college financial aid:

Scholarships are awards given to students for who they are and what they have shown they are able to do. You may earn scholarships for good grades, community service, artistic talents, athletics, and other things. Scholarships may or may not be renewable; that is, they may or may not last more than one year.Top of Page

Grants are awarded based upon financial need. In general, the less financially well off a family is, the more grants their students are likely to qualify for. Eligibility for grants is determined by colleges.Top of Page

Work-Study is a program that allows student to get a job, usually on campus and funded by the college or university. The money earned by the student is generally expected to be used for expenses related to their education, that is, housing, tuition, and books. Eligibility for grants is determined by colleges. Top of Page

Loans for education are like any other loan in that they must be repaid to the lender. There are two general types of loans, subsidized and unsubsidized. The interest that accumulates on a subsidized loan while a student is in college is paid by the federal government, while the interest on an unsubsidized loan becomes part of the principle of the loan. Once a student graduates or leaves school, the interest is paid by the borrower. Students generally have up to ten years to repay their loans. Top of Page

Last Updated on 12/20/06
By Matt Burns, Counselor