FEDERAL AID

Federal Aid And Community Organizations Great Sources For College Financial Aid

If you are a parent of a student who is busy filling out college applications, you are probably wondering how you will pay the tuition this fall. Now is the time to apply for federal aid and look into other financial aid resources to help ease college costs.

“The first step that parents should take when going through the college financial aid process is to think about all of the costs associated with going to college. For instance, tuition and fees, room and board, books and supplies, personal expenses, and sometimes travel,” said David Charlow, Financial Aid Director for Undergraduate Students, Columbia University.

Approximately two-thirds of all student financial aid assistance comes from federal programs administered by the US Department of Education, including Federal Pell Grants, Federal Stafford Loans, Federal Campus-based programs, and Federal PLUS Loans. Call the Federal Student Financial Aid Information Center toll-free at the US Department of Education at 800/4FED-AID or check out www.ed.gov or www.fafsa.com on the Internet to receive up-to-date information on Federal student aid programs.

Scholarships and grants are excellent sources of college money that students do not have to  pay back. High school guidance counselors encourage students to use the Internet to find scholarship opportunities. Some Web sites that provide students with free scholarship and financial aid information include www.fastweb.com, www.collegeboard.com,  www.finaid.org, www.salliemae.com, www.fastaid.com and www.scholaraid.com.

Families should also look for scholarship opportunities in their own back yard. Parents should ask their employers if they offer scholarships or other college financial aid programs. Students should contact the local organizations, such as the Rotary, Lions, Kiwanis and Jaycee Clubs to see if they offer college scholarships.

There are many local businesses that offer money to help students pay for college. For example, McDonald’s Restaurants in the Tri-State area are offering $425,000 in scholarships through the Arching Into Education and RMHC/HACER Scholarship Programs to help students in their communities pursue higher education. Students can go to www.mcdonaldsnymetro.com or their high school guidance counselor for information and an application.

There are many sources that provide student financial aid including the Federal Government, State governments and hundreds of organizations. Fortunately, students are not limited to receiving assistance from one source. With careful planning and a little research, students can greatly reduce the cost of their college education. The only way to know if you’re eligible is to apply.