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Apply for financial aid.
Information
on Financial Aid:
Students and parents should not assume
that they cannot afford a particular college or university.
Financial aid often makes it possible for students to attend
colleges they would have thought too expensive.
There
are basically four categories of financial aid:
1.
Grants
– money that is given to the student, usually because of financial
need.
2.
Loans
– money that must
be paid back with interest.
3.
College
Work Study – money
that the student earns through a campus job.
4.
Scholarships
– money that is awarded because a student is outstanding in some area.
Most
students will find that financial aid generally comes in the form of a
“package”. A package is
a combination of grants, scholarships, loans and work-study.
Packages are awarded through the financial aid office and will
vary from college to college.
To
obtain Financial Aid, follow these steps:
1.
In the fall of your senior year, complete the individual
financial aid (and scholarship) application forms for each college to
which you are applying.
2.
Obtain a FAFSA (Free Application for Federal Student Aid) from
your high school guidance office in mid-December and have all of your
tax information organized early.
The
FAFSA is a federal form which asks for information on income and assets.
Approximately 3-10 weeks after you have mailed (or applied
online) you will receive an SAR (student aid report) which will inform
you or your EFC (estimated family contribution).
This is the amount they have determined you can afford to pay for
your education that year. If
the cost of the college is more than your EFC, you have financial need
and should be eligible for financial aid.
Contact the college’s financial aid office for further
information and assistance.
3.
In addition to the FAFSA, some colleges also require the
submission of the CSS/Financial Aid Profile.
The Financial Aid Profile is a need analysis and there is a
processing fee. Contact
your high school guidance office for information and forms.
4.
Attend any financial aid nights and/or meetings that may be
offered in your area. Cañon
City High School usually offers a Financial Aid workshop in January.
5.
Complete the FAFSA as soon after January 1 as possible.
Even if you know that you will not qualify for any need-based aid
because of your income, you should still complete the FAFSA.
Colleges and organizations often want it verified that students
are not eligible for need-based aid before they award non-need based
aid. You may complete the
FAFSA online.
Tip:
Before you send the FAFSA, make a copy.
Applying
for Scholarships: You
have probably heard people say that there are “millions of scholarship
dollars unclaimed each year”. You
have probably also talked to parents who have told you that their son or
daughter was an outstanding student and could not get a scholarship.
Both are true.
The
fact is, there are thousands
of scholarships; however, most of these scholarships have a very
specific eligibility criteria (e.g., a student must go to a particular
college, be in the top 5% of his/her class and have an ACT or at least
28, or a student must belong to a particular ethnic group, race,
religion, have overcome a great obstacle, have great leadership skills,
a specific major, etc.).
When
it comes to academic scholarships, students generally must have an
outstanding GPA (3.5 or better), high test scores (27+ ACT or 1200+
SAT), excellent recommendations, and be involved in extracurricular
and/or community activities. To
receive an athletic or talent scholarship, a student must truly
be outstanding.
Even
though it is not easy to obtain academic or talent scholarships,
students and parents who are willing to invest the time and energy may
find that their efforts pay off handsomely.
When locating and applying for scholarships, keep the following
in mind:
1.
Start early. Begin
looking into possibilities
during your junior year. Be
ready to locate and complete applications early in the senior year.
2.
Finding and applying for scholarships takes time, energy and
persistence.
3.
The college the student plans to attend usually awards the larger
scholarships. Contact
the college financial aid office.
4.
Private colleges are often more generous in awarding
scholarships, thus making private schools competitive in price with
public schools.
5.
Apply for local scholarships.
(Please refer to the end
of this section for more detailed information about local scholarships).
6.
Be aware of deadlines. Scholarship
applications become available throughout a student’s senior year and
sometimes are due only weeks after being publicized.
7.
Network. Tell
everyone (including the high school counselor) that you are looking for
scholarships. Check for
scholarship opportunities with your place of employment, your church,
any organizations to which you belong, etc. Also look for scholarship
opportunities in your local newspaper.
8.
Look for websites, books and computer programs with scholarship
opportunities. Your high
school guidance office and/or library will have books that list numerous
scholarship opportunities.
9.
Applying for scholarships can be frustrating.
You may not get a response when you write to an address taken
from a scholarship book or computer search.
If you do get a response, you may find that the deadline has
passed or that there is no longer funding for the scholarship.
1
Be organized. Make
sure teachers and counselors are given plenty of time to prepare letters
of recommendations and transcripts.
Be aware of deadlines!!
Tip:
Make copies of everything.
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