Hello everyone, I'm a high school junior and I've been researching the college application process. I know financial aid is an important factor for many students, but I'm not exactly sure how it works. Can someone explain the basics of financial aid and what I need to know before applying to college? Thanks for your help!
Hi there! Congrats on starting your college research journey early. Understanding financial aid can be a bit confusing, but I'll do my best to break it down for you. Financial aid is basically money that can help you pay for college or career school. It comes in different forms - grants, scholarships, work-study programs, and loans. Grants and scholarships are the best forms of financial aid as they don't need to be repaid, while loans do need to be paid back eventually. Work-study programs provide part-time jobs to help students earn money to cover their education expenses. To apply for financial aid, you'll need to complete the Free Application for Federal Student Aid (FAFSA) form which becomes available on October 1st of your senior year. The FAFSA determines your eligibility for federal, state, and some institutional financial aid. It's important to complete the FAFSA as soon as possible since some aid is awarded on a first-come, first-served basis. Additionally, some colleges and universities may require you to complete the CSS Profile, which is another financial aid application used by certain schools to award their own funds. Don't forget to research and apply for scholarships offered by private organizations, as those can help reduce the cost of college too! Good luck with your college application process!
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