Entry bubble Federal Student Aid = Money For College

By: Editor | August 10, 2009 | Category: Money

bird in waterOur guest blogger today is Stephanie Kreusser, an intern in the Department of Education's Office of Federal Student Aid.   

This fall, millions of students across the country will enroll in colleges, universities, and trade schools to pursue their educational dreams.  The benefits of postsecondary education – enhanced earnings, greater career options – are undeniable, but sometimes the path to getting there can seem daunting.  If you or someone you know is having reservations, there’s no need to feel discouraged; there are resources available to help navigate the college process. 

Developed in collaboration with students, College.gov provides an instructional breakdown of why you should go to college, what steps need to be taken to get there, and how to pay for it. In addition, it highlights real stories about students who were able to overcome barriers to go to college.  Remember, it’s never too late to think about going.  If you’re worried your financial means may be insufficient, don’t be deterred.  Federal student aid is available to make your college goals a reality.

Last year, over $100 billion in federal aid was distributed to nearly 11 million students to help them pay for college or vocational school. There are three main types of federal student aid: grants, loans, and work-study.  Anyone who qualifies can have access to this aid and achieve his/her college ambitions as a result. 

How do you go about applying for federal assistance? Believe it or not, applying for federal student aid is FREE; a prospective college student simply completes and submits what’s known as the Free Application for Federal Student Aid (FAFSA). If that person is deemed eligible, the school(s) listed on his/her FAFSA will send an award letter that specifically breaks down what federal student aid he/she is eligible to receive.

For those who aren’t ready to attend college just yet but are curious if they’ll be eligible for federal student aid, FAFSA4caster is a valuable tool. It determines what type of federal aid you may be eligible to receive (grant, loan, etc.) and provides an estimated award amount for each.

Here are some additional resources to help prepare for applying for college and federal student aid:

- Student Aid on the Web provides in-depth information on how to prepare for, choose, and apply to college, as well as information on the federal financial aid programs – grant, loans, and work-study.

- Funding Education Beyond High School: The Guide to Federal Student Aid is an online comprehensive publication that includes an overview of federal student aid programs and the application process, as well as detailed steps for taking action during each phase.

- USA.gov provides links to help address your questions and concerns about college, including overseas study programs, educational tax benefits, and much more.

| View Comments [5] | envelope E-mail This Entry | Tags: college   fafsa   federal_student_aid   financial_aid   money