What are the most common forms of financial aid and scholarships?

Looking into financial aid options for college and feeling a bit overwhelmed. What are the most common types of scholarships and aid that students receive? Any advice on where to start my search?

There are a few main types of financial aid and scholarships that students commonly use to help fund their college education.

1. Federal and State Aid: This form of aid is given based off of financial need, and is determined through the Free Application for Federal Student Aid (FAFSA). There are several types of federal aid, including Pell grants, which do not need to be paid back, and federal loans, which do. Several states also have their own financial aid programs, so make sure to look into what's offered in your state.

2. Institutitonal Aid: This is aid given directly by the college or university. It includes need-based grants and scholarships, which are usually given on the basis of financial need, as well as merit-based scholarships, which are given based on academic, athletic, or artistic achievement. When applying to colleges, scrutinize their financial aid policies carefully. Many colleges are committed to meeting 100% of demonstrated need, but the amount of "need" can vary between institutions due to differences in cost of attendance.

3. Private Scholarships: These are scholarships provided by private organizations, such as corporations, foundations, and community groups. They can be awarded based on many factors, including academic achievement, community service, area of study, or personal characteristics. To find these opportunities, you can use scholarship search platforms such as Appily or CollegeBoard's scholarship search tool.

4. Work-Study Programs: These are part-time jobs offered through colleges as part of a financial aid package. They allow students to earn money to help pay for educational expenses. Work-study jobs are often on campus and are designed to work around your class schedule.

The best place to start your scholarship search is by filling out the FAFSA as soon as possible, as it tells you what federal aid you qualify for, and some state and institutional aid requires the FAFSA to be filled out as well. Once you have that information, start researching scholarships through your school and private organizations. Don't forget to apply for scholarships both big and small—every little bit helps! Remember the saying, "The early bird gets the worm," as many scholarships have early fall deadlines. Good luck in your search!