Applying
FAFSA
CSC Profile
Scholarships
Peterson's
NELA
Finaid
Fastweb
College
Plan
Sallie
Mae
To get a quick snapshot of your likely eligibility for financial aid, use the EFC calculator on the College Board website for estimating your Estimated Family Contribution, which is the amount your family will be expected to pay toward college expenses.Do not assume your family won’t qualify. A majority of full-time students receive some form of financial aid, totaling billions annually. This includes federally financed loans and grants, merit scholarships offered by colleges, and need-based grants from philanthropic organizations. A great deal of student aid is in the form of grants that do not need to be repaid. The good news is that most families are able to negotiate this process without undue difficulty. Pay attention to deadlines, get started early, ask for help when you need it, and you will do fine!
Meet the Forms
Look through your college application instructions to find out which of the three major kinds of financial aid forms to fill out.
FAFSA
To apply for federal financial aid, you will need to fill out something called the Free Application for Federal Student Aid, or FAFSA, online at FAFSA on the Web.Cost: Free
Where to get the form. Apply online at FAFSA on the Web.
Deadlines. You can send in the FAFSA only between January 1st and June 30th, but do this as soon after the first of the year as possible.Worksheet. There will be a worksheet available before January 1, and you should complete this. It may be dated for the previous year, but do it anyway. The updated worksheet will be available on January 1, and it will be very similar, if not identical.
Information required. You will need to supply information about the current year’s income taxes and investments for parents and student. If your W-2 is not available, you can use your December pay stub to determine income tax and deduction totals for the year. You also supply the names and school codes of the colleges to which you want the FAFSA sent. These codes can be found on the website. Note: College Board college code numbers and FAFSA college code numbers are different! Fill out the form from the student's point of view (SS#, etc.).
Timeline. After you file this information with the government, you will receive a SAR (Student Aid Report) that is accessible online. This report will indicate whether you are eligible for aid and ask you to check for errors.
SPECIAL NOTE. If the student is a male between 18 and 25 years old, he must have registered with the Selective Service to qualify for federal financial aid.CSS/PROFILETo apply for financial aid from certain colleges (in Washington State, these are Whitman College and the University of Puget Sound), you may need to fill out, in addition to the FAFSA, a College Board form called College Search Service (CSS) PROFILE at CSS Profile Online. Check the literature from each college to see if this is something you must do.
Registration/Application. Register online at CSS Profile Online. A customized PROFILE application will be created for you. Any additional questions required by your colleges will also be included in the PROFILE.
Cost. There is a fee for registration, plus a fee for each college you designate to receive the PROFILE. School code information is available on the website.
Deadlines. Check each college’s literature to determine the date by which the PROFILE must be received. Submit your profile application at least a week before the earliest filing date specified by your schools. When the College Board has finished processing your application, it will send an online PROFILE acknowledgement. For early decision and early action candidates, there may be special deadlines for turning in the CSS PROFILE Form if you want a financial aid offer to reach you in a reasonably timely fashion.Information needed. You will need to provide information on your current year’s income taxes, interest and dividends, home mortgage, and debt. Fill out the form from the student's point of view (SS#, etc.).
Additional School Reports. You can send your PROFILE to additional schools by updating your online application.
College-Specific Forms
Some colleges require additional financial aid filings. Check each application form your student fills out to see if additional information must be submitted directly to the college.Scholarships
Colleges, governmental entities, and private organizations offer a wide variety of specialized scholarships as well – for students with certain ethnic and religious backgrounds, or with special abilities, attributes, or interests. Some are available before senior year.Apply for scholarships early because most scholarship applications are due October or earlier; by March 15th, 75% of deadlines have passed.
Look on each college's web site for special scholarships that need applications.
Places to look for scholarship information include:
Some colleges award non-need-based scholarships to high-achieving students in the hope of enticing them to attend. Click to see a list of colleges awarding merit money.
Recruited athletes may also receive scholarship money (and/or special admissions consideration).
Online Information about Financial Aid and Scholarships
Peterson's maintains a data bank of hundreds of thousands of awards.
The College Board has a big database of scholarships and lots of information about financial aid. This is also home to the CSC PROFILE, which must be filled out for some selective colleges
FastWeb has information on over $1 billion dollars in scholarships.FinAid features all there is to know about financial aid.
School Grants Blog covers types of grants, their sources, and how to apply.
CollegePlan is a Seattle-based, nonprofit organization, assisting people seeking educational opportunities.
SallieMae offers comprehensive information and resources to assist students, parents and guidance professionals with the financial aid process.Northwest Education Loan Association (NELA) is a not-for-profit guaranty agency that works in partnership with schools, banks and other lending institutions to help students continue their education. The site has lots of information about scholarships and financial aid.
Be Aware of Financial Aid and Scholarship Scams
Check unsolicited scholarship and aid offers by researching reputable sites such as those listed above or asking your high school counselor. FinAid offers valuable advice about how to avoid getting scammed.
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