Should I apply for need-based or merit-based financial aid?

Hi all! I'm not sure whether I should apply for need-based or merit-based financial aid. Can someone please explain the differences between the two and help me determine which type of aid might be best for my situation?

Hey there! It can definitely be confusing trying to understand the different types of financial aid, but I'm happy to help explain the differences and provide some guidance on which type might be best for you.

Need-based financial aid is primarily offered based on your family's financial situation. You'll have to complete the FAFSA (Free Application for Federal Student Aid) and/or the CSS Profile to be considered. This aid can come in the form of grants, work-study jobs, or subsidized loans and is typically provided by the federal government, state governments, or the college itself.

Merit-based aid, on the other hand, is awarded based on your academic and extracurricular achievements, and does not take your financial situation into account. This aid often comes in the form of scholarships and can be from private organizations or the college you apply to.

My suggestion is to apply for both! There's no harm in being considered for anything that can help cover the costs of your education. Keep in mind that some colleges might have separate applications for merit-based scholarships, so make sure to check the requirements for each school you're applying to. You can find more information on financial aid in this CollegeVine blog post: A Guide To College Scholarships & Grants. Best of luck!