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Financial Aid Checklist |
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First Step, Complete Your Off-to-College Tasks Make sure you complete and submit the required documents for college or graduate school. Deadlines include essay and application submissions, college visits,
housing selection, and gathering those things for the move. |
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How Much Is It Going to Cost Depends on where you are going: Costs include tuition, housing, books, transportation and more. TIP: use our cost comparison worksheet to compare costs among colleges: FREE download for the cost comparison wkst (excel file) |
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| Where is the Money Coming From
$135 Billion dollars were disbursed last year in financial aid for students. The largest percentage was federal loans.
These are just some of the sources of financial aid. Other aid for college includes:
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What is EFC EFC is the Expected Family Contribution for higher education. In other words, financial aid is awarded based on a formula that calculates the total cost of attending school and the expected family contribution to that cost. |
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Understand the Financial Aid Process First comes the FAFSA form, then the SAR, and then the Financial Aid Award letter from your school. Link to our Financial Aid Notes to review the process: |
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FAFSA Submission Almost all financial aid begins with your filing the Free Application
for Federal Student Aid (FAFSA). What you will need to file:
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Understand
the Types and Sources of Financial aid programs include grants, scholarships, loans, state programs, and other special aid. We have complete information on types and sources: You can view a summary chart of financial aid options: financial aid chart: for
undergraduates |
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| Check
with Your Financial Aid Office
Your school's financial aid office is the control center for student financial aid. Talk with your college's financial aid office to see how they can help. Be prepared to ask questions such as:
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| Start Searching
for Scholarship Money
Scholarship awards can go fast, so start early — usually in
the Fall prior to the start of your college year.
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| Learn
About Student Stafford Loans
Student loans are the most widely used form of financial aid. These loans are backed by the Federal Government to guarantee low-interest rate loans. View complete information:
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| Graduates Can Use the PLUS Loan
Graduates and professional students now qualify under the PLUS loan program to borrow up to the full cost of education. Deferment plans are available. We have information about the GradPLUS loan:
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| See
How Parents Can Help
Parents of undergraduate students can assist with their child's education by applying for the Federal PLUS loans. We have information about PLUS loans:
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| Private
Loans and Other Alternative Financing
Most financial aid awards do not cover the full cost of education. Many students are turning to private education loans and other alternative financing to finance their education. These loans are not subject to Federal Government review and processing. You can get your money in as little as 5 business days from receipt of your completed application. See what Private Loans are available:
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| Home Equity Loans
Parents or students with equity value in their home can use home equity loan to pay for college. Funds can be borrowed as they are needed — not all at once under most other loan programs. For more information: view our home equity section |
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The Banker Home Equity Line of Credit (BLOC) Parents or students with steady working income can use the BLOC to manage their money and fund education expenses. The program benefits those with positive discretionary income that helps to keep funding costs low. View product demo: introduction page and slide demo at our member site www.SayStudent.com |
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Managing Your Money Money will be tight during school. You want to control spending and avoid unnecessary debt. View our recommendation on how to manage student funds while attending college. Money management tips: click here |
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| Financial Aid Road Map download FREE this 1-page road map leading to financial aid options and steps |
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