If you're a student considering college or in the process of choosing one, now is the perfect time to start planning how to pay for it. The National Association of Student Financial Aid Administrators celebrates Financial Aid Awareness month every February, and they give out free advice all year to students across the country and their families about access to federal, state, and institutional student aid. Here are 10 Tips from the NASFAA to get you moving:
Ten Tips for Financial Aid Awareness Month
- Financial aid makes college affordable. Explore your options — grants, scholarships, loans, and work-study.
- Financial aid is not just for low-income students. Many students from middle-income and high-income families also qualify.
- Complete the FAFSA. It is faster and easier than ever to fill out.
- Get expert guidance on completing the FAFSA. Financial aid counselors at colleges and universities, including Bellevue University, are available to guide you through the FAFSA process. They'll help you understand how to apply for federal student grants and loans and maximize your financial aid opportunities.
- Plan ahead for financial aid. Different schools may have different deadlines, so research all available options.
- Understand your funding options. Grants and scholarships are free money; loans must be repaid with interest. Compare federal and private loan options carefully.
- Financial aid covers more than tuition. It can be used for books, housing, transportation, and other essential college expenses, which can also be covered by student loans.
- College is an investment in your future. Weigh the costs of borrowing against the potential long-term benefits of a college degree.
- Analyze your financial aid offers carefully. Understand the mix of grants, scholarships, loans offered, and net costs.
- Plan for financial aid and loan repayment. Once you've received financial aid, your school's financial aid office or admissions counselors can help you navigate the next steps. They'll provide support in planning for loan repayment, continuing to meet the requirements for receiving funds, and ensure you make well-informed decisions about your financial future.
Find these and more financial aid tips on the NASFAA website, or go directly to FAFSA site at https://studentaid.gov/.
