FINANCIAL AID - it is not impossible!
YOU ARE RESPONSIBLE and it isn't impossible! The student (and family) are considered primarily responsible for education costs. Colleges based their finanical packages, more or less, on the FAFSA. Financial aid packages can vary dramatically from school to school as each interprets needs differently.
TWO TYPES OF AID
- Need
- Non-need (based on anything but financials).
BASIC COLLEGE COSTS INCLUDE
- Tuition & Fees
- Room & Board
- Books & Supplies
- Personal Expenses
- Transportation
7 WAYS TO PAY FOR YOUR EDUCATION
- You & your family's cash and savings
- You & your family's assets
- Student or parent loans
- Federal & state grants
- Scholarships
- Federal work study
- Military or community service
ESTIMATE YOUR COSTS

By using the net price calculators on a college's website or FAFSA4caster, a family will get a more realistic idea of what a college will truly cost them before a student applies.
Try the FAFSA 4caster
A net price calculator considers a student's GPA, test scores, class rank, as well as family income and other financial information. Your net price is an estimate of what you will pay after scholarships or need-based grants are deducted from the cost. Many college and college search website offer a Net Price Calculator.
Try College Board's Net Price Calculator
THE FAFSA
To be eligible for federal aid and some institutional aid, every student must submit the online Federal Application for Federal Student Aid (FAFSA). It opens the doors to a variety of financial aid options.
Some schools require the FAFSA for Admissions, so you must submit it even if you don't think you will qualify for any federal aid. Ignoring the form could cost you thousands of dollars of aid money. FAFSA Website
It is filed annually and based on five funding factors:
- Assets - cash, stocks, bonds, CD's, mutual funds, annuities, trusts, inheritances, 529 plans, prepaid tuition, real estate. Your primary residence and retirement accounts are not included.
- Income
- Household size
- Number of students in college
- Age of oldest parent
A student and his/her parents must both apply for a FAFSA PIN. Do this late fall of a student's senior year. Parents can use the same PIN for multiple children. Apply for FAFSA PIN now!
The FAFSA doesn't become available to complete until January 1st of the year you will be attending school in the Fall.
Because aid is first come, first serve, you should file your FAFSA as close to the January 1st opening date as possible. If you don't know your exact tax form numbers, give an educated guess. You can correct those numbers after you have filed your taxes, but you will still benefit from getting it in earlier. Start your FAFSA!